The latest market research report by Technavio on the global automotive throttle position sensor (TPS) market predicts a CAGR of close to 6% during the period 2017-2021.
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Technavio has published a new market research report on the global automotive throttle position sensor (TPS) market from 2017-2021. (Graphic: Business Wire)
The report segments the global automotive throttle position sensor market by vehicle type (commercial vehicles and passenger cars) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global automotive throttle position sensor market, according to Technavio automotive researchers:
- High demand for TPS in automatic transmission: a major market driver
- The passenger cars segment dominated the global automotive TPS market with a share of more than 85% in 2016
- In 2016, APAC dominated the global automotive TPS market with a market share of close to 52%.
- Bosch, Continental, Delphi, DENSO, and HELLA are the leading players in the market
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High demand for TPS in automatic transmission: a major market driver
High demand for TPS in the automatic transmission is one of the major factors driving the global automotive throttle position sensor market. The automotive industry has witnessed evolution in the powertrain technology with advances taking place in the transmission system. Automatic transmission systems have come a long way, which has led to high popularity and demand since their developments. From conventional automatics to automated manual transmission, every type of transmission systems such as continuous variable transmission or dual-clutch transmission have experienced different market dynamics in the respective regions they have served.
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APAC: largest automotive throttle position sensor market
The promising economic growth in emerging countries such as China and India is offering a wide range of market opportunities for passenger cars, thereby attracting global automotive OEMs in this region. These players are investing in technology and modern mass production systems, which is expanding the demand for automotive TPS. Currently, China, India, Japan, and South Korea are the key countries in the region. China is leading the market for passenger cars and commercial vehicles. Furthermore, significant investments in infrastructure and industrialization have fueled the sales of CVs, thereby increasing the demand for automotive TPS.
According to Keerthi Balu, a lead analyst at Technavio for research onautomotive electronics, “The government implemented emission norms are not as strict in APAC when compared with Europe and the Americas. However, the increasing environmental concerns in APAC nations are forcing governments to implement emission norms that are at par with those enforced in Europe and the US. Such developments are expected to propel the revenue growth for the automotive TPS market in APAC.”
Competitive vendor landscape
The global automotive TPS market witnesses the presence of many international vendors. Moreover, the aftermarket segment is flooded with regional players selling TPS at competitive prices, which creates a challenge for prominent established players. Apart from this, the market is mostly saturated as most of the vehicles after 1996 are equipped with TPS. As a result, we expect the market to grow at a pace equivalent to new vehicle sales in the coming years. Moreover, the growing competition among the automobile manufacturers is pushing them to adopt advanced technologies such as electronic throttle control, which may push the revenue growth in the TPS market through the adoption of contactless sensors.
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