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Global accelerator pedal model market: 6% CAGR growth forecast between 2012-50

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Global Accelerator Pedal Model Market 2012-2016 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-31 00:05:03
The Global Accelerator Pedal Module market is to grow at a CAGR of 6 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in automobile production and sales. The Global Accelerator Pedal Module market has also been witnessing the increasing demand for sensor-based accelerator pedal modules. However, the economic slowdown in Europe could pose a challenge to the growth of this market.

The increasing demand for sensor-based accelerator pedal modules is one of the major trends in the Global Accelerator Pedal Module market. The sensor in the pedal module indicates the position of the accelerator, which further facilitates the integration of various other features such as auto cruise on the vehicle with electronic throttle control. In addition, stringent emissions norms, such as Euro VI norms, tightening of fuel economy standards, and increasing need to improve passenger safety, are expected to propel the demand for sensor-based pedal modules, thus, leading to the growth of the Global Accelerator Pedal Module market.

The demand for automobiles directly influences the demand for pedal modules. The continuously increasing demand for automobiles across the globe, and especially for passenger vehicles, is driving the demand for accelerator pedal modules.

One of the main challenges in the market is the increase in demand uncertainty due to the recent sovereign debt crisis in Europe. This is expected to have a negative impact on the Global Accelerator Pedal Module market.

The key vendors dominating this market space are CTS Corp., Denso Corp. Hella Kgaa Hueck & Co., KSR International Co., Magna International Inc., Mikuni Corp., and Robert Bosch GmbH.

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