This study intends to unfurl the multiple facets of global automotive rain sensor market. The insights offered in the report aid in market growth examination during the forecast period.
Exceptionally Rising Rate of Vehicle Electrification Post-COVID-19 Pandemic Uplifts Automotive Rain Sensor Market
The COVID-19 pandemic harmed the global automotive rain sensor market in 2020 to a large extent as a result of the underreported vehicle sales. Decline in vehicle production, and prolonged supply chain constraints also cast a heavy setback on the automotive rain sensor market. However, by the end of the first half of 2021, the market gained momentum as electric vehicle sales started to rise across all of the major geographical areas of the world. The automotive rain sensors market is anticipated to grow significantly with the advancement of electric mobility, and autonomous vehicle technology. Further encouraging factors for the market include the improving economic conditions, rising client demand and interest, technological innovation, and tighter governmental regulations. In addition, top luxury car producers are releasing electric versions of their vehicles in response to escalating environmental concerns, and rising gasoline costs. Additionally, it will support the sector's expansion. Adopting such sensors in entry-level and mid-range vehicles is anticipated to boost the growth of automotive rain sensor market owing to the decreased cost of automotive rain sensors.
Automotive Rain Sensor Market: COVID-19 Impact
Many sun rain sensor manufacturers and suppliers have been negatively impacted by the lockdown and economic crisis brought on by the COVID-19 outbreak. Significant resource bottlenecks that affected many suppliers' businesses visibly negatively occurred in the year's global supply and logistics chains. Original equipment manufacturers (OEMs) and parts suppliers haven't yet reached full production capability, except for a few Asian nations that have recovered from the epidemic. Small and medium-sized enterprises were financially depleted, most of the world's supply chains were disrupted, and passenger vehicle sales decreased in Q1 2020. The lockdown also stopped the supply chain, particularly for raw materials from Asian countries that were needed to make rain sensors like LEDs and Photodiodes, among others. This aspect caused a considerable delay in completing existing orders. Companies were already in severe financial distress as the pandemic began because there were no new orders. So, the supply chain issue affected their profit margins even more.
Sales fell by 71 percent in China in February 2020, 47 percent in the United States, and 80 percent in Europe by April, which was when the consequences were initially noticed. Additionally, because of widespread lockdowns, the factories were compelled to temporarily halt the production of electric vehicles. The same has caused delays in the manufacturing and development activities of the auto industry and companies relying on it. It is anticipated that Covid-19 vaccination efforts will make it possible to reduce the restrictions gradually. The covid impact has caused large revenue declines between 14 and 1596 for businesses like Hella GmbH & Co. KgaA. Additionally, because fewer automobiles are being produced, there is less demand for these sensors.
The pandemic has had a significant impact on industry trends and developments. Production of light vehicles decreased 17.7% to 75.5 million units, with over 16 million more cars and light trucks produced than the previous year. Although it was hard to assume how long the pandemic would last, the recent arrival of the COVID-19 vaccines in early 2021 will likely benefit the automotive and transportation sectors. Additionally, many businesses have already resumed operations in regions where vaccination rates are high, putting in place various safety measures to protect the workforce. This factor will favor the expansion of the automotive rain sensor market throughout the forecast.
Rising Safety Concerns Continue to Drive Automotive Rain Sensor Market Growth
Automotive rain sensors are experiencing consistent market growth due to the growing need for safe and convenient driving experiences in modern vehicles. Additionally, the Market for rain sensors is expanding due to the rise in accidents and fatalities brought on by distracted driving during bad weather. The Market is also being driven forward by people's increasing preference for rain sensors over more traditional systems that need manual adjustment and the driver's full attention. This is so that the likelihood of accidents caused by drivers' attention is decreased because modern automobile rain sensors do not necessitate drivers to adjust wiper speed. A significant part of the market expansion is also being played by the strict government regulations designed to ensure the safety of drivers, and passengers. Additionally, the automotive industry's technological advancements, such as the introduction of semi-autonomous and autonomous vehicles, are anticipated to support the growth of automotive rain sensor market during the anticipated time frame.
Increasing Automation Across Automobiles is Shooting Lucrative Opportunities for Automotive Rain Sensor Market Growth
In the upcoming years, one of the primary trends that will gain traction in this Market is the replacement of windshield wipers with ultrasonic force fields. Manufacturers will concentrate on creating novel solutions to eliminate the disruption brought on by the movement of windscreen wiper blades. Using high-frequency sound waves, the British automaker McLaren has already created a new windshield cleaning method for cars that makes the glass impervious to water, mud, ice, and other types of outside dust.
The high price of these sensors is a significant barrier to automotive rain sensor market expansion, keeping them confined to the luxury vehicle segment. However, as technology has advanced and smart sensors have become more advanced, the cost per unit of rain sensors has significantly decreased, opening up new opportunities for the Market's expansion. For example, Hyundai Motors India Ltd. recently added rain sensor wipers to its budget-friendly car segment i20. Because of this, OEMs can now deploy these sensors across all vehicle classes thanks to a drop in price.
Expensive Sensors to Hamper Rapid Progress of Automotive Rain Sensor Market
High price of automobile rain sensors will constrain industry growth. The vehicle design and required combination criteria have a modest impact on the cost of the units. Additionally, it increases the cost of installation and maintainability. And sluggish growth. As a single drop of car activates the sensors, the quick wiping would damage the windshield. Moreover, the sensors could be more effective in locations where much rain is not forecast. Therefore, the ability of automotive rain sensor market to expand there will be constrained. Additionally, COVID-19 has thrown the world economy into disarray. To assist the main business, automakers have diverted their R&D funding. Automobile manufacturers would also need to cut profits to boost sales. The decline in auto sales will likewise impact the Market for automobile rain sensors. The development of wiper technology, such as using cameras in place of sensors, will impede the expansion of automotive rain sensor market. In 2018, Tesla, for instance, unveiled the "Deep rain" neural net for its automatic wipers. Tesla decided on the wipers' speed without the assistance of rain sensors and instead employed its autopilot cameras.
Passenger Cars Remain Dominant in Automotive Rain Sensor Market
The sector for passenger cars is expected to register the highest CAGR during the projection period. The demand for passenger automobiles and their luxury features has grown significantly worldwide due to rising consumer disposable income, a considerable increase in the number of luxury amenities available in vehicles, and a movement in customer preferences from sedans to SUVs. However, it is anticipated that issues, including rising import duties, may impede the expansion of the luxury car market. Due to the rising demand for comfort & convenience features in vehicles, the light commercial vehicle segment is also predicted to have the fastest-expanding Market.
With Introduction of Novel Car Models, OEMs Maintain Lead in Automotive Rain Sensor Market
Market segments include OEM, and aftermarket based on the type of sales channel. Since more automakers are introducing novel car models with sunroofs as an affordable and standard feature, OEM is anticipated to hold a commanding lead over the remaining market during the forecast period.
Asia Pacific Spearheads Automotive Rain Sensor Market, Demand for Passenger Cars Prominent
Asia Pacific is anticipated to have the greatest CAGR during the projection period, dominating. Future increases in the demand for passenger cars could be attributed to the economies of developing nations like China, and India. As a result, global automakers are anticipated to invest significantly in cutting-edge technology and mass production methods, increasing the demand for automotive rain-sensing wiper systems. Increased investments in industrialization and infrastructure building that drive the demand for commercial vehicles may further improve the growth prospects of automotive rain sensor market in the region. According to this market analysis report, the market for rain-sensing windshield wipers is anticipated to remain dominated by APAC for the projected period. The principal contributors to the automotive rain sensor market will be nations like China, India, Indonesia, Japan, and South Korea. For instance, In March 2021, The first of four production vehicles from Skoda Auto India will be the all-new midsize SUV Kushaq as part of the INDIA 2.0 initiative. Rain sensors in the automobile automatically turn on the low beam or the windshield wipers as needed.
Low Precipitation Levels in the Middle East Forestall Growth of Automotive Rain Sensor Market in the Region
Many nations suggest installing a rain sensor on autos due to frequent rain. However, in rare instances, it might be optional. Two regions with very low rainfall include the Middle East, and North Africa. There is less need for automatic rain sensors in some countries because of their exceptionally low precipitation levels, including Qatar, Saudi Arabia, Kuwait, the United Arab Emirates (UAE), and Egypt. For instance, the Middle East experiences very little rainfall because the area is almost entirely desert. Only in Saudi Arabia's hilly regions, where temperatures can drop below freezing, does the Middle East experience true winter. The overall development of the automotive rain sensor market here is expected to be affected throughout the forecast period. These typical weather conditions discourage major OEMs from releasing their models with autonomous rain-sensing technology features. Automatic wipers are becoming more widespread in cars throughout a majority of car segments in much of North America. In addition to being a useful feature, rain sensors that control wiper speed and frequency may help increase driving safety. The right wiper speed guarantees the best visibility in all weather conditions. Automakers claim that the location of the rain sensor behind the rearview mirror is ideal for a group of sensors, including a camera, sun sensor, and ambient light sensor.
Global Automotive Rain Sensor Market: Competitive Landscape
Some of the key players in the automotive rain sensor market include Denso Corporation, Hamamatsu Photonics K.K., HELLA KGaA Hueck & Co., Robert Bosch GmBH, Melexis Microelectronic Systems, Mitsubishi Motors Corporation, Vishay Intertechnology Inc., Valeo SA, ZF TRW, and The Kostal Group.
Recent Notable Developments
Global Automotive Rain Sensor Market is Segmented as Below:
By Sales Channel
Key Elements Included In The Study: Global Automotive Rain Sensor Market
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