The automotive rain sensor market is expected to grow at a compound annual growth rate of 6.54% over the forecast period to reach a market size of US$4.667 billion in 2027, from US$2.995 billion in 2020.
Automotive rain sensors are devices that automatically detect the presence of raindrops on the windshield of a vehicle and prompt it to turn on the wipers automatically. Depending on the level of rain, the device also controls the speed of the wipers. Wiping the windscreen automatically improves the visibility of the driver instantly. It also allowed the driver to focus on driving by saving the time and effort of manually engaging the wipers. Thus, assuring the driver's safety and convenience.
The key factor contributing to the automotive rain sensor market is the increasing automation of the automobile. Further, the growing Original Equipment Manufacturer (OEM) market is contributing significantly to the automotive rain sensor. The increasing demand for electric vehicles EVs and eco-friendly cars, is expected to positively impact the automotive rain sensor market due to rising awareness and preventive steps toward climate change. However, the market is specific to areas prone to rainfall. Further, the overall cost of the vehicle increases with the integration of inbuilt sensors like automatic rain sensors. Regions like North America and Europe have a major market share due to strict regulation. However, the Asia Pacific region is expected to witness substantial growth due to the growing population and rising disposable income.
The rise in the use of electric vehicles and eco-friendly vehicles With the rising concern for the environment and climate change, the demand for electric vehicles and eco-friendly vehicles has increased significantly. This increase in demand is expected to positively impact the automatic rain sensor market. Many nations, especially in the region of Europe and North America, are systematically imposing a ban on the use of fossil-fueled cars. For instance, Britain has set a target to become net-zero emissions by the year 2050. The country has further imposed a ban on the sales of new petrol and diesel cars and vans from 2030. Furthermore, the European Union has imposed a ban on new petrol and diesel cars from the year 2035. In the United States of America, the state of California proposes to ban new gasoline-powered passenger cars and trucks from 2035. With nations becoming more stringent toward global warming and climate change, eco-friendly vehicles are expected to drive the automotive rain sensor market.
The growing OEM market
OEM, or original equipment manufacturer, is a company that manufactures and sells parts or components that are used in the final product of other companies. Various companies produce automotive rain sensors based on the requirements of automotive companies. Automotive OEMs are expected to have a positive impact on the rising demand for electric vehicles EVs and eco-friendly vehicles. Although recently, since 2018, the OEM sector has been plunging due to rising concerns by various nations about global warming and climate change, stringent actions taken are expected to curb the growth. Besides this, rising disposable income, better infrastructure, and low-cost vehicles have promoted consumer preferences for personal transport. Further, increasing automation in the automobile industry and innovative startups for car rental have contributed to the OEM market.
Despite this fact, some countries recommend having an automotive rain sensor due to heavy rainfall. But there are regions where one might not need it at all. The Middle East and North Africa are regions that have a really low level of rainfall. Some countries, like Qatar, Saudi Arabia, UAE, Kuwait, and Egypt, have a really low level of precipitation, which diminishes the requirement for automatic rain sensors.
The COVID-19 Pandemic's Impact on the Automotive Rain Sensor Market: With the outburst of the COVID pandemic, the automotive rain sensor market was also affected. The automotive industry and OEM sector have been severely affected due to the strict regulation and lockdown. This also affected the supply chain of the vehicles, affecting the supply side of the market. Further, the demand for the products was also affected due to rising inflation and falling disposable income due to unemployment.
|Market size value in 2020||US$2.995 billion|
|Market size value in 2027||US$4.667 billion|
|Growth Rate||CAGR of 6.54% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Installation Type, Vehicle Type, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Robert Bosch GmbH, DENSO CORPORATION, HELLA GmbH, Hamamatsu Photonics K.K., Melexis, Mitsubishi Motors Corporation, Leopold Kostal GmbH & Co., Valeo|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the automotive rain sensor market size by 2027?
A1. The automotive rain sensor market is expected to reach a total market size of US$4.667 billion in 2027.
Q2. What are the growth prospects for the automotive rain sensor market?
A2. The global automotive rain sensor market is expected to grow at a CAGR of 6.54% during the forecast period.
Q3. What is the size of the global automotive rain sensor market?
A3. Automotive Rain Sensor Market was valued at US$2.995 billion in 2020.
Q4. What factors are anticipated to drive the automotive rain sensor market growth?
A4. The key factor contributing to the automotive rain sensors market is increasing automation in the automobile.
Q5. Which region holds the largest market share in the automotive rain sensor market?
A5. North America and Europe hold a major share in the automotive rain sensor market.
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. AUTOMOTIVE RAIN SENSOR MARKET ANALYSIS, BY INSTALLATION TYPE
5.2. Original Equipment Manufacturer (OEM)
5.3. Automotive Aftermarket
6. AUTOMOTIVE RAIN SENSOR MARKET ANALYSIS, BY VEHICLE TYPE
6.3. Light Commercial Vehicle
6.4. Heavy Commercial Vehicle
7. AUTOMOTIVE RAIN SENSOR MARKET ANALYSIS, BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.4.2. Saudi Arabia
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Robert Bosch GmbH
9.2. DENSO CORPORATION
9.3. HELLA GmbH & Co. KGaA
9.4. Hamamatsu Photonics K.K.
9.6. Mitsubishi Motors Corporation
9.7. Leopold Kostal GmbH & Co.
Robert Bosch GmbH
Hamamatsu Photonics K.K.
Mitsubishi Motors Corporation
Leopold Kostal GmbH & Co.
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