North American Automotive Sensors AftermarketFrost & SullivanDecember 31, 2008 132 Pages - SKU: MC2071911 |
| Countries covered: North America This Frost & Sullivan research service titled North American Automotive Sensors Aftermarket, provides in-depth analysis of unit shipment and revenue size, growth potential, distribution channel analysis and revenue market share analysis of selected sensors including oxygen, crank position, throttle position, and mass air flow (MAF). The study analyzes the market’s current state, examines the keys to the success of major market participants, indicates directions for growth , and discusses industry challenges and opportunities present in this still-viable market. Market Overview North American Automotive Sensors Aftermarket Dynamics Promise Growth for Savvy Participants Regardless of the challenges facing the automotive industry, the light vehicle sensor market holds promise for participants willing to identify and exploit the potential offered in the right areas. Prospects for light vehicle sensors look encouraging owing to high consumer demand and federal legislations supporting fuel-efficient vehicles. "Technological shifts and an increase in sensor installations create conducive circumstances for robust market development," notes the analyst of this research service. "Further, many of these technological changes are yet to reach the mainstream market, guaranteeing the proliferation of opportunities." The need for conformance to vehicle emission and fuel economy standards has also boosted the demand for sensors. A new legislation emphasizing a higher corporate average fuel economy (CAFÉ) standard is expected, as is a new set of EPA emissions guidelines that examine CO2 output. This will serve to promote shipments and technological development, thus contributing to revenue growth. There is a distinct gravitation toward more precise and accurate sensors in the original equipment (OE) and aftermarket segments, ratcheting up prices and revenues. This is largely due to consumer desire for improved powertrain performance, especially fuel efficiency. Evidence points to a preference for smaller, inexpensive, fuel efficient vehicles. These meet fuel efficiency targets while maintaining a level of useable power. Economic conditions have proved to be a dampener for the OE market as new vehicle production nosedived. However, the aftermarket is affected to a far lesser degree because sensors are vital for proper vehicle function and must be replaced to rectify malfunctions. Pricing at the Helm of Strategies in this Competitive Marketplace Automakers are seeking dramatic cost cuts across every aspect of vehicle production as profits continue their descent. Participants in the automotive sensors aftermarket must be wary of major stumbling blocks such as competition from offshore manufacturers, price pressure from OEMs, and the trend toward commoditization. Overseas competitors have the edge in terms of lower overhead costs compared to North American companies. Potential for market expansion depends greatly on a company’s ability to avoid commoditization of its products and remain price-competitive with offshore manufacturers. Product innovation and strategic product placement are critical factors for success, and many options that had been explored earlier and proven viable have been exhausted. However, select sensors and applications command a higher percentage of revenues in this market, and participants can place special emphasis on these key areas. Innovation, in terms of both product applications and technology, is crucial for participants to steer clear of growth limitations caused by market stagnation. "There are certain clearly-defined strategic cornerstone products in the sensor market," explains the analyst. "Market share leaders recognize and capitalize on this, as must all participants interested in growing in this highly competitive market; participants can’t carry on with the same ‘song and dance’ and expect to be of any consequence." To stay ahead, participants must strive to offer new sensor applications to extend potential market sizes and keep a close watch on new vehicle production, OES channel demand, as well as federal legislations dictating future fuel economy and emissions standards. |
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