LONDON--(BUSINESS WIRE)--The global automotive ABS and EPB sensor cable market size is poised to grow by USD 1.48 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 7% during the forecast period.
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The market is driven by the increase in the adoption of safety systems in vehicles. In addition, the increasing regulatory norms related to ABS and EPB are expected to further boost the growth of the automotive ABS and EPB sensor cable market.
Automotive safety has become the foremost parameter in vehicle design and development, which has led OEMs to increasingly incorporate advanced safety systems in vehicles. Thus, the adoption of the safety systems, such as ABS with EBP in vehicles will drive the demand for system components such as sensors, sensor cables, and control units, thereby fueling market growth during the forecast period.
Regulatory norms on automobiles have played an important role in making modern vehicles more advanced, safe, and energy-efficient. Government bodies across the world are enforcing improvements in automotive safety, fuel efficiency, and reduction in exhaust emissions. Such regulatory norms necessitate the adoption of safety systems such as ABS and EPB, which will further boost the demand for sensor cables.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- Furukawa Electric Co. Ltd.
- Hitachi Ltd.
- KYUNGSHIN Co. Ltd.
- Leoni AG
Market Segmentation by Product:
The automotive ABS and EPB sensor cable market can be broadly categorized into the following segments:
Key Regions for the Automotive ABS and EPB Sensor Cable Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
- South America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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