PUBLISHER: KBV Research | PRODUCT CODE: 1548789
PUBLISHER: KBV Research | PRODUCT CODE: 1548789
North America Parking Sensor Market Size, Share & Trends Analysis Report By Technology (Ultrasonic, and Electromagnetic), By Installation (OEM, and Aftermarket), By Country and Growth Forecast, 2024 - 2031
The North America Parking Sensor Market would witness market growth of 14.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Parking Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $8,133.9 Million by 2031. The Canada market is experiencing a CAGR of 16.8% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15.8% during (2024 - 2031).
These sensors are electronic devices installed in vehicles to assist drivers in parking and avoiding collisions with obstacles. They use a combination of sensors and technology to detect the proximity of objects around the vehicle, providing alerts and guidance to help drivers park safely and accurately. These sensors have become integral to various applications in the automotive industry, addressing various parking-related challenges and enhancing driver safety. These sensors specifically aid in parallel parking by providing real-time distance measurements from the curb and surrounding vehicles. This application is particularly useful in urban environments where parking space is limited, and precision is crucial.
In advanced automated parking systems, these sensors facilitate hands-free parking. They work with other sensors and cameras to autonomously navigate the vehicle into a parking space, reducing the need for driver intervention. These sensors adapted for larger vehicles like RVs and motorhomes help drivers manage the challenges of parking and manoeuvring these oversized vehicles. They provide alerts and distance measurements in tight or crowded parking environments.
With the rise in vehicle production, there is a growing demand for locally manufactured these sensors. This increased production in Mexico can lead to establishing local sensor manufacturing facilities, reducing lead times and costs. According to the International Trade Administration (ITA), Mexico is the world's seventh-largest passenger vehicle manufacturer, producing 3.5 million vehicles annually. Eighty-eight percent of vehicles produced in Mexico are exported. Mexico is the world's fifth-largest manufacturer of heavy-duty vehicles for cargo, hosting 14 manufacturers and assemblers of buses, trucks, and tractor trucks, as well as two manufacturers of engines. The high vehicle production volume drives the development of robust automotive supply chains, including these sensors. This enhanced infrastructure supports the region's efficient distribution and availability of these sensors. As vehicle registrations increase, the potential market for these sensors grows. More vehicles on the road create a larger customer base for OEM installations and aftermarket upgrades, boosting overall demand for these sensors. According to Statistics Canada, 34,313 new zero-emission vehicles (ZEVs) were registered in the third quarter of 2022, comprising 8.7% of total new motor vehicle registrations. The number of new ZEVs registered continued to increase, up 43.2% year over year. Plug-in hybrid electric vehicles (PHEVs) comprised 14.4% of new ZEV registrations. Year over year, BEVs (+85.4%) experienced the largest percentage increase among all fuel types. Higher vehicle registration rates lead to greater vehicle density on roads and parking areas. These sensors become increasingly valuable in managing and mitigating parking challenges caused by this higher density. In conclusion, the rising automobile industry and increasing vehicle registration in the region drive the market's growth.
Based on Technology, the market is segmented into Ultrasonic, and Electromagnetic. Based on Installation, the market is segmented into OEM, and Aftermarket. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Robert Bosch GmbH
- Aptiv PLC
- Denso Corporation
- Valeo SA
- ZF Friedrichshafen AG
- Continental AG
- NXP Semiconductors N.V.
- Ford Motor Company
- Mercedes-Benz Group AG
- Infineon Technologies AG
North America Parking Sensor Market Report Segmentation
By Technology
- Ultrasonic
- Electromagnetic
By Installation
- OEM
- Aftermarket
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Parking Sensor Market, by Technology
- 1.4.2 North America Parking Sensor Market, by Installation
- 1.4.3 North America Parking Sensor Market, by Country
- 1.5 Methodology for the research
Chapter 2. Market at a Glance
- 2.1 Key Highlights
Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.1.1 Overview
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- 3.2.3 Market Opportunities
- 3.2.4 Market Challenges
Chapter 4. Competition Analysis - Global
- 4.1 Market Share Analysis, 2023
- 4.2 Recent Strategies Deployed in Parking Sensor Market
- 4.3 Porter Five Forces Analysis
Chapter 5. North America Parking Sensor Market by Technology
- 5.1 North America Ultrasonic Market by Region
- 5.2 North America Electromagnetic Market by Region
Chapter 6. North America Parking Sensor Market by Installation
- 6.1 North America OEM Market by Country
- 6.2 North America Aftermarket Market by Country
Chapter 7. North America Parking Sensor Market by Country
- 7.1 US Parking Sensor Market
- 7.1.1 US Parking Sensor Market by Technology
- 7.1.2 US Parking Sensor Market by Installation
- 7.2 Canada Parking Sensor Market
- 7.2.1 Canada Parking Sensor Market by Technology
- 7.2.2 Canada Parking Sensor Market by Installation
- 7.3 Mexico Parking Sensor Market
- 7.3.1 Mexico Parking Sensor Market by Technology
- 7.3.2 Mexico Parking Sensor Market by Installation
- 7.4 Rest of North America Parking Sensor Market
- 7.4.1 Rest of North America Parking Sensor Market by Technology
- 7.4.2 Rest of North America Parking Sensor Market by Installation
Chapter 8. Company Profiles
- 8.1 Robert Bosch GmbH
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Segmental and Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Partnerships, Collaborations, and Agreements:
- 8.1.5.2 Acquisition and Mergers:
- 8.1.6 SWOT Analysis
- 8.2 Denso Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Partnerships, Collaborations, and Agreements:
- 8.2.6 SWOT Analysis
- 8.3 Aptiv PLC
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Segmental and Regional Analysis
- 8.3.4 Research & Development Expense
- 8.3.5 SWOT Analysis
- 8.4 Valeo SA
- 8.4.1 Company Overview
- 8.4.2 Financial Analysis
- 8.4.3 Segmental and Regional Analysis
- 8.4.4 Research & Development Expense
- 8.4.5 Recent strategies and developments:
- 8.4.5.1 Partnerships, Collaborations, and Agreements:
- 8.4.6 SWOT Analysis
- 8.5 ZF Friedrichshafen AG
- 8.5.1 Company Overview
- 8.5.2 Financial Analysis
- 8.5.3 Regional Analysis
- 8.5.4 Research & Development Expenses
- 8.5.5 SWOT Analysis
- 8.6 Continental AG
- 8.6.1 Company Overview
- 8.6.2 Financial Analysis
- 8.6.3 Segmental and Regional Analysis
- 8.6.4 Research & Development Expense
- 8.6.5 Recent strategies and developments:
- 8.6.5.1 Partnerships, Collaborations, and Agreements:
- 8.6.6 SWOT Analysis
- 8.7 NXP Semiconductors N.V.
- 8.7.1 Company Overview
- 8.7.2 Financial Analysis
- 8.7.3 Regional Analysis
- 8.7.4 Research & Development Expenses
- 8.7.5 Recent strategies and developments:
- 8.7.5.1 Partnerships, Collaborations, and Agreements:
- 8.7.5.2 Product Launches and Product Expansions:
- 8.7.6 SWOT Analysis
- 8.8 Infineon Technologies AG
- 8.8.1 Company Overview
- 8.8.2 Financial Analysis
- 8.8.3 Segmental and Regional Analysis
- 8.8.4 Research & Development Expense
- 8.8.5 SWOT Analysis
- 8.9 Mercedes-Benz Group AG
- 8.9.1 Company Overview
- 8.9.2 Financial Analysis
- 8.9.3 Segmental and Regional Analysis
- 8.9.4 Research & Development Expense
- 8.9.5 Recent strategies and developments:
- 8.9.5.1 Product Launches and Product Expansions:
- 8.9.6 SWOT Analysis
- 8.10. Ford Motor Company
- 8.10.1 Company Overview
- 8.10.2 Financial Analysis
- 8.10.3 Segmental and Regional Analysis
- 8.10.4 Engineering, research, and development expenses
- 8.10.5 SWOT Analysis
LIST OF TABLES
- TABLE 1 North America Parking Sensor Market, 2020 - 2023, USD Million
- TABLE 2 North America Parking Sensor Market, 2024 - 2031, USD Million
- TABLE 3 North America Parking Sensor Market by Technology, 2020 - 2023, USD Million
- TABLE 4 North America Parking Sensor Market by Technology, 2024 - 2031, USD Million
- TABLE 5 North America Ultrasonic Market by Region, 2020 - 2023, USD Million
- TABLE 6 North America Ultrasonic Market by Region, 2024 - 2031, USD Million
- TABLE 7 North America Electromagnetic Market by Region, 2020 - 2023, USD Million
- TABLE 8 North America Electromagnetic Market by Region, 2024 - 2031, USD Million
- TABLE 9 North America Parking Sensor Market by Installation, 2020 - 2023, USD Million
- TABLE 10 North America Parking Sensor Market by Installation, 2024 - 2031, USD Million
- TABLE 11 North America OEM Market by Country, 2020 - 2023, USD Million
- TABLE 12 North America OEM Market by Country, 2024 - 2031, USD Million
- TABLE 13 North America Aftermarket Market by Country, 2020 - 2023, USD Million
- TABLE 14 North America Aftermarket Market by Country, 2024 - 2031, USD Million
- TABLE 15 North America Parking Sensor Market by Country, 2020 - 2023, USD Million
- TABLE 16 North America Parking Sensor Market by Country, 2024 - 2031, USD Million
- TABLE 17 US Parking Sensor Market, 2020 - 2023, USD Million
- TABLE 18 US Parking Sensor Market, 2024 - 2031, USD Million
- TABLE 19 US Parking Sensor Market by Technology, 2020 - 2023, USD Million
- TABLE 20 US Parking Sensor Market by Technology, 2024 - 2031, USD Million
- TABLE 21 US Parking Sensor Market by Installation, 2020 - 2023, USD Million
- TABLE 22 US Parking Sensor Market by Installation, 2024 - 2031, USD Million
- TABLE 23 Canada Parking Sensor Market, 2020 - 2023, USD Million
- TABLE 24 Canada Parking Sensor Market, 2024 - 2031, USD Million
- TABLE 25 Canada Parking Sensor Market by Technology, 2020 - 2023, USD Million
- TABLE 26 Canada Parking Sensor Market by Technology, 2024 - 2031, USD Million
- TABLE 27 Canada Parking Sensor Market by Installation, 2020 - 2023, USD Million
- TABLE 28 Canada Parking Sensor Market by Installation, 2024 - 2031, USD Million
- TABLE 29 Mexico Parking Sensor Market, 2020 - 2023, USD Million
- TABLE 30 Mexico Parking Sensor Market, 2024 - 2031, USD Million
- TABLE 31 Mexico Parking Sensor Market by Technology, 2020 - 2023, USD Million
- TABLE 32 Mexico Parking Sensor Market by Technology, 2024 - 2031, USD Million
- TABLE 33 Mexico Parking Sensor Market by Installation, 2020 - 2023, USD Million
- TABLE 34 Mexico Parking Sensor Market by Installation, 2024 - 2031, USD Million
- TABLE 35 Rest of North America Parking Sensor Market, 2020 - 2023, USD Million
- TABLE 36 Rest of North America Parking Sensor Market, 2024 - 2031, USD Million
- TABLE 37 Rest of North America Parking Sensor Market by Technology, 2020 - 2023, USD Million
- TABLE 38 Rest of North America Parking Sensor Market by Technology, 2024 - 2031, USD Million
- TABLE 39 Rest of North America Parking Sensor Market by Installation, 2020 - 2023, USD Million
- TABLE 40 Rest of North America Parking Sensor Market by Installation, 2024 - 2031, USD Million
- TABLE 41 Key Information - Robert Bosch GmbH
- TABLE 42 Key Information - Denso Corporation
- TABLE 43 Key Information - Aptiv PLC
- TABLE 44 Key Information - Valeo SA
- TABLE 45 Key Information - ZF Friedrichshafen AG
- TABLE 46 Key Information - Continental AG
- TABLE 47 Key Information - NXP Semiconductors N.V.
- TABLE 48 Key Information - Infineon Technologies AG
- TABLE 49 key information - Mercedes-Benz Group AG
- TABLE 50 key information - Ford Motor Company
