Indian Crankshaft Position Sensor Market - Forecast(2024 - 2030)
Indian Crankshaft Position Sensor Market Overview
The Indian
Crankshaft Position Sensor Market size is forecast to reach $628.4 million by 2027,
growing at CAGR of 6.28% from 2022 to 2027. Crankshaft Position Sensor is a
crucial part of the engine management system that helps the engine in operating
more efficiently, by controlling the fuel efficiency and ignition timing. In
other words, these sensors monitor the position and the rotational speed of the
crankshaft and provide information to the engine management system that
ultimately helps in increasing the efficiency level of the fuel injection
control system and other engine parameters. Crankshaft and Camshaft position
sensors together help the engine management systems task more
productively. The growth of the Indian Crankshaft Position Sensor Market is mainly
driven by the increasing rise in automotive sales and production rate in India,
as this sensor is an important part of the engine and without it, vehicles
cannot run. Furthermore, government initiatives in the form of regulations for
controlling the emission level of carbon footprint is positively affecting the growth
Indian Crankshaft Position Sensor. Hence, the above-mentioned factors are
fuelling the growth of Indian Crankshaft Position Sensor industry during the
forecast period 2022-2027.
Report Coverage
The report: “Indian Crankshaft Position Sensor Market– Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Indian Crankshaft Position Sensor Market.
By Type: Linear Position Sensor, Rotary Position Sensor, and
Proximity Sensors
By Technology: Hall-Effect Sensor, and Magnetoresistive
Sensor
By Contact
Type: Contact, and Non-Contact
By Output: Analog, and Digital
By end-user industry: Automotive, Aerospace & Defence, and
Others
Key Takeaways
- Automotive industry held the major market share in 2021 and is estimated
to witness the highest growth during 2022-2027, owning to the increasing
purchasing power and growing sales as well as production rate of
automotive.
- The market of Indian Crankshaft Position Sensor is estimated to
witness significant upsurge during the forecast period, owing to the growth
of Indian automotive industry.
- This industry is consolidated with top market players
including Allegro MicroSystems Inc.,
Continental AG, Denso Corporation,
Infineon
Technologies AG, NXP Semiconductors among
others.
Indian Crankshaft Position Sensor Market Value Share, by End-user industry, 2021 (%)
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Indian Crankshaft Position Sensor Market Segment Analysis - By Type
By Type, the Indian Crankshaft Position Sensor Market is segmented into Linear Position Sensor, Rotary Position Sensor,
and Proximity Sensors. Proximity sensors segment is analysed to grow at a CAGR of
7.12%, during the forecast period 2022-2027. The growth of this segment is
attributed to the rapid industrial growth and high adoption of vehicles in
India. Proximity sensors help the drivers in the identification of the position of
a nearby object, and alert the driver accordingly. This not just enhances the
driving experience but also increases the safety level of the vehicle.
Furthermore, the rise in penetration of automation across industries in India, created
a huge demand for accurate information regarding the industrial processes which
in turn affected the adoption rate of these sensors, as these sensors provides
the required information by detecting the presence and position of the objects.
Proximity sensors can also help in automating the procedures, resulting in an
efficient production process. The above-mentioned benefits create the demand
for these sensors in India. To meet such high demand of proximity sensors,
market players are launching various advanced products. For instance, in March
2020, Omron Automation introduced its new, highly durable, metal face E2EW
Series proximity sensors, with longest object sensing range, to meet the
growing demand of the manufacturers of the automotive industry and to reduce
the amount of downtime. Such developments will drive the growth of such market
during 2022-2027.
Indian Crankshaft Position Sensor Market Segment Analysis - By End-User
Industry
Based on End-user industry, Indian
Crankshaft Position Sensor Market is segmented into Automotive,
Aerospace & Defence, and Others. According to Indian
Crankshaft Position Sensor Market report of IndustryARC, Indian Crankshaft Position Sensor Market size for automotive industry is analysed to grow with a
CAGR of 7.40% during 2022-2027, owing to increasing purchasing power and rapid
growth in the vehicles production as well as sale. According a report of IBE, Two-wheelers and passenger
cars represented around 81% and 13% of market share, respectively, for a
combined sale of Indian automobiles in FY20. These factors in turn
creates demand for Crankshaft Position Sensor in Indian market, to reduce the
emission level of the vehicle and to control the consumption of fuel. Apart from that, growing investment towards
the growth of Indian automotive industry also plays a major role. According to a report of IBEF, in FY21, passenger vehicles
sales reached 27.11 lakhs units in India. Such growth in sales of vehicle helps
in driving the demand for crankshaft position sensors in India. Furthermore, this sensor also
helps in determining the position and rotational speed (RPM) of the crank and
provides information to the Engine Control Units to control parameters such as
ignition timing and fuel injection timing. This in turn helps the vehicles to
run more efficiently. Hence, the above-mentioned factors drive the growth of
this market during 2022-2027.
Indian
Crankshaft Position Sensor Market Segment Analysis – Country Analysis
India is one of the emerging economies with massive growth opportunities
across industries including automotive, aerospace and defence, general
manufacturing, consumer electronics and others, which plays a major role in the
growth of this market as this sensor is an essential part of the engine. A report from IBEF states that, FDI inflow of around $463.55
million was registered in the defence and
aerospace sector of India as of June 2020 and this estimation was made on the
basis of the information provided by 80 companies. Such high investments create
high demand for crankshaft position sensors.
Furthermore, the economic growth of this country and increase in
disposable income are creating more demand for passenger vehicles, which is
affecting the demand for crankshaft position sensors, as this sensor is one of the most important of all engine management sensors,
and without it the engine cannot run. Such factors create demand
for crankshaft position sensors in India.
Indian Crankshaft Position Sensor Market Drivers
Growth of Indian Automotive industry is set to Boost the Growth of this Market:
With the economic development and rise
in purchasing power, the demand for automotive vehicles is growing in India,
which drives the growth of Indian Crankshaft Position Sensors market. In
December 2020, Society of Indian Automobile Manufacturers (SIAM) published a
report, according to which, the sales of passenger vehicles increased 4.65% to
264,898 units in November. Similarly, a recent reports of Invest India states
that, India is estimated to become world’s third largest manufacturer of
passenger vehicles by 2021. Such high demand of vehicles also affects the
demand of this sensors, as this sensor is an essential part of the engine,
thereby driving the growth of this market. Such a high growth rate of automotive
industry will create growth opportunity for the Crankshaft Position Sensor
market during the forecast period 2022-2027.
Government’s initiatives to reduce the emission level will fuel the growth:
The government’s initiatives in the form of stringent norms to control the emission level of
vehicles is one of the major driving factors contributing towards the market
growth, as this product helps in reducing the emission of CO2. Crankshaft
position sensors helps the vehicle to run more efficiently by controlling the
consumption of fuel, which in turn reduces the emission level of vehicles, and
ensures the fulfilment of the norms. Indian Government has imposed tax
regulations on emission level, that increases the tax level based on the
vehicle emission level. Presence of these types of norms creates appositive
impact. Hence, implementation of such norms is analysed to boost the
growth rate of Indian Crankshaft Position Sensor Market during the forecast
period 2022-2027.
Indian Crankshaft Position Sensor Market Challenges
High R&D cost and lack of Standardisation is harming the growth of this market
All though the Indian Crankshaft Position Sensor Market is growing rapidly, due to high growth in production of
vehicles, but the high research and development cost is creating hurdles for
the growth of this market. This market requires huge amount of investment for
developing more advanced product. Moreover, the lack of standardization for
performance measurement is a major drawback for this market, as precision,
non-linearity, accuracy, and resolutions do not have a standard definition, and
varies across manufacturer and researchers. Hence, the above-mentioned factor
will hamper the growth of this market during the forecast period 2022-2027.
Indian Crankshaft Position Sensor Industry Outlook
Partnerships and
acquisitions along with product launches are the key strategies adopted by the
players in the Indian Crankshaft Position Sensor Market. As of 2021, the market
for Indian Crankshaft Position Sensor industry outlook is consolidated with the
top market players. Indian Crankshaft Position Sensor top 10 companies include:
- Allegro MicroSystems Inc.
- Continental AG
- Denso Corporation
- Infineon Technologies AG
- NXP Semiconductors
- Robert Bosch GmbH
- Takata Corporation
- MTS Systems Corporation
- Autoliv, Inc.
- Valeo S.A.
Acquisitions/Technology Launches/Partnerships
- In October 2020, Yamaha introduced its new product, the 2021 MT-09, an all-new street naked motorcycle that's lighter, more powerful and packs more tech than its predecessor. Yamaha made major changes to the crossplane inline-triple engine. For instance, the engine got new forged pistons, camshaft fracture-split connecting rods, and crankshaft. These changes made this product more advanced than others.
- In February 2020, Hero MotoCorp announced the launch of the 2020 Glamour 125 BS6 in India and will be in available in two variants. This product features Hero’s Xsens technology and it is equipped with nine different sensors including Bank Angle Sensor, Oxygen/Crank Position Sensor, Throttle Position Sensors, Engine Oil Temperature Sensors, i3s Sensor, Intake Air Temperature Sensor and Vehicle Speed Sensor.
- In August 2019, a well-known motorcycle manufacturer, MV Agusta launched its new product, MV Agusta Turismo Veloce 800 in India. This product is powered by is powered by a 798cc. three-cylinder which cranks out 110 HP at 11,500 rpm and 83 Nm at 7,600 rpm and it is equipped with counter-rotating crankshaft.
Relevant Report Titles:
Crankshaft Position Sensor Market – Forecast
(2021 - 2026)
Report
Code: AIR 0083
Automotive Sensors Market – Forecast (2021 - 2026)
Report
Code: ATR 0016
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