Saudi Arabia Automotive Sensors Market By Sensor Type, By Vehicle Type and Forecast 2027
Navi Mumbai, (Newsbox) 27-Sep-2022
Saudi Arabia Automotive Sensors Market is projected to witness growth at a formidable rate during the forecast period, 2023-2027.
Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Automotive Sensors Market By Sensor Type (Temperature Sensor, Pressure Sensor, Oxygen Sensor, Position Sensor, Motion Sensor, Torque Sensor, Optical Sensor, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Application (ADAS, Chassis, Powertrain, Others), By Technology (MEMS, Non-MEMS), By Region, Competition, Forecast & Opportunities, 2027” under Automotive Market Research Reports category. The Automotive Sensors Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Automotive Sensors Market is projected to witness growth at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the rising demand for vehicle safety and increasing incidences of road accidents. Besides, shift in consumer preferences toward alternative fuel vehicles and continuous advancements in sensor technology are propelling the growth of the Saudi Arabia automotive sensors market.
Due to harsh weather conditions and a high per capita income, Saudis prefer to drive in private vehicles. The Kingdom of Saudi Arabia recently repealed the restriction on women driving alone, increasing the driver count in the country. In 2021, around 387.70 thousand passenger automobiles were sold in Saudi Arabia, and this figure is likely to rise over the next five years. The National Industrial Development Center (NIDC) is working to entice automotive original equipment manufacturers to build 300,000 vehicles yearly, with local production accounting for 40% of total output by 2030, in order to meet Saudi Vision 2030 ambitions.
They are providing incentives, income tax exemptions, and low-interest loans to automobile makers, which is likely to help the automotive industry's growth. Due to intense competition among automotive market competitors, they are investing in cutting-edge technologies and equipment, which is expected to greatly boost demand for automotive sensors over the next five years.
The Kingdom of Saudi Arabia's top officials are seeking to reduce the country's reliance on the oil and gas industry and generate other revenue streams in order to enhance the country's economy. Consumers' rising living standards and greater awareness of the negative effects of greenhouse gas emissions on the environment are likely to drive up demand for electric vehicles in the country. Saudi Arabia has vowed to reduce its carbon emissions to zero by 2060 and has stated that by 2030, at least 30% of cars in Riyadh would be electric vehicles. The electric vehicle sector is still in its infancy. The total electric car penetration in Saudi Arabia is less than 1%, providing tremendous development opportunities for electric vehicle producers.
Several automotive sensors are used in electric vehicles, including engine speed, temperature, vehicle speed, throttle position, and others. With the expansion of the electric car industry, the demand for Saudi Arabia automotive sensors is predicted to rise significantly throughout the forecast period.
The Saudi Arabia automotive sensors market segmentation is basis on sensor type, vehicle type, application, technology, regional distribution, and competitive landscape. Based on sensor type, the market is divided into temperature sensor, pressure sensor, oxygen sensor, position sensor, motion sensor, torque sensor, optical sensor, and others. The position sensor is anticipated to hold the largest share in the Saudi Arabia automotive sensors market, owing to high demand for luxury vehicles and increasing need for drivers’ enhanced convenience.
Major players operating in the Saudi Arabia automotive sensors market are Robert Bosch GmbH, Denso Corporation, Infineon Technologies AG, Texas Instruments Incorporated, Continental AG, Sensata Technologies, BorgWarner Inc. (Delphi Technology), Maxim Integrated, Analog Devices, Inc., General Electric Company, are among the major market players operating in the Saudi Arabia automotive sensors market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia automotive sensors market from 2017 to 2021.
•To estimate and forecast the market size of Saudi Arabia automotive sensors market from 2022 to 2027 and growth rate until 2027.
•To classify and forecast the Saudi Arabia automotive sensors market based on sensor type, vehicle type, application, technology, region, and company.
•To identify the dominant region or segment in the Saudi Arabia automotive sensors market.
•To identify drivers and challenges for the Saudi Arabia automotive sensors market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia automotive sensors market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia automotive sensors market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia automotive sensors market.
Key Target Audience:
•Market research and consulting firms
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia automotive sensors market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Automotive Sensors Market, By Sensor Type:
•Saudi Arabia Automotive Sensors Market, By Vehicle Type:
•Saudi Arabia Automotive Sensors Market, By Application:
•Saudi Arabia Automotive Sensors Market, By Technology:
•Saudi Arabia Automotive Sensors Market, By Region:
Northern & Central
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