PUNE, India -- The report "Automotive Rain Sensor Market by region (APAC, Europe, North America & Rest of the World), and by vehicle type (PC, LCV & HCV) - Trends and Forecast to 2020", published by MarketsandMarkets, The Automotive Rain Sensor Market, in terms of value, is projected to grow at a CAGR of 6.05% from 2015 to 2020, to reach a market size of USD 4.15 Billion by 2020. The market report defines and segments the Automotive Rain Sensor Market with an analysis and forecast of the global market size, by volume and value.
The growing demand for comfort, increasing vehicle production, and technological advancements are some of the key drivers fueling the growth of the global Automotive Rain Sensor Market.
LCV Segment: Promising market for automotive rain sensors
The report segments the Automotive Rain Sensor Market on the basis of vehicle type into Passenger Car (PC), Light Commercial Vehicle (LCV), and Heavy Commercial Vehicle (HCV). Passenger Cars are one of the largest contributors to the Automotive Rain Sensor Market. However, the LCV segment shows promising growth opportunities in automotive applications due to the increasing vehicle production in regions such as North America. Earlier, rain sensors, used in rain sensing wiper systems, were only incorporated in luxury cars. The system was just an additional comfort feature initially but the growing demand for convenience has forced the OEMs to equip their vehicles with rain sensing wiper systems. Thus, the market is expected to grow. It has become possible to install the rain sensor in various segments owing to the decrease in average unit price.
Europe: One of the major markets for automotive rain sensors
The report segments the European region into Germany, France, U.K. and other countries. With the advancement in technology, vehicle electrification has increased, which has thus increased the use of sensors in vehicles. Germany is expected to hold the largest share in the European Automotive Rain Sensor Market. In 2014, Germany ranked number one in terms of production and sales of automotive vehicles in the European region as the region produced 5.6 million passenger cars and more than 303,500 trucks and buses. Also, the German OEM market share in Western Europe was more than 51 per cent in 2014. The German automakers generated revenue of more than USD 333.7 billion from exports. German OEMs have strong investments in R&D, amounting to approximately USD 23.3 billion in 2014. Thus owing to increasing vehicle production, the Automotive Rain Sensor Market is expected to grow at an impressive rate.
The report covers all the major players in the global Automotive Rain Sensor Market that includes companies such as HELLA KGaA Hueck & Co. (Germany), ZF TRW (U.S.), Valeo SA (France), Denso Corporation (Japan) & Robert Bosch GmBH (Germany).
The report covers the Automotive Rain Sensor Market, in terms of volume ('000 units) and value (USD million). It explains the qualitative and quantitative aspects of the Automotive Rain Sensor Market on the basis of region, and vehicle type from 2015 to 2020. It also provides an overview of technical factors and other important aspects of the Automotive Rain Sensor Market.
Browse 64 market data Tables with 49 Figures spread through 119 Pages and in-depth TOC on "Automotive Rain Sensor Market" at http://www.marketsandmarkets.com/Market-Reports/automotive-rain-sensor-market-63201130.html?utm_source=PRnewswires&utm_medium=Referral&utm_campaign=PRnewswire
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