USA Motor Vehicle Sensors Market Is Projected To Grow Rapidly Due To Rising Consumer Awareness For Safety & Environmental Awareness Till 2020: Grand View Research, Inc.
The U.S. Motor Vehicle Sensors Market is expected to reach USD 6.29 billion by 2020, according to a new study by Grand View Research, Inc. Favorable government mandates pertaining to emission standards and safety are expected to drive the market over the forecast period. Enhancement of Corporate Average Fuel Economy (CAFE) standards coupled with new regulations mandating the incorporation of Electronic Stability Control (ESC) systems in light vehicles is expected to play a pivotal role in the U.S. motor vehicle sensors market growth. Passage of The Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act, directing adoption of Tire Pressure Monitoring System (TPMS) in new vehicles is expected to increase sensor sales. Owing to the need for periodical replacement of TPMS and oxygen sensors, aftermarket sensor sales are expected to constitute a substantial market share, thereby supplementing the high demand for motor vehicle sensors from...