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Frequently Asked Questions:
- Based on segmentation by end-user, which is the leading segment in the market?
Passenger vehicles are the leading segment in the market. - At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of almost 3%. - Who are the top players in the market?
BorgWarner Inc., Continental AG, DENSO Corp., General Motors Co., HELLA GmbH and Co. KGaA, Hitachi Ltd., Robert Bosch GmbH, Sensata Technologies Holding Plc, TE Connectivity Ltd., and Valeo SA are the top players in the market. - What are the key market drivers and challenges?
The market is driven by the increasing need for better-performance vehicles. However, the increase in labor costs leading to declining profit margins will hamper the market growth. - How big is the APAC market?
56% of the market’s growth will originate from APAC during the forecast period.
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