The automotive gyroscope industry is expected to grow 8% from 2022 to 2030. Gyroscopes are orientation sensors found in a range of electronics. As technology has improved, gyroscopes have come a long way since their origin. They’ve become one of the most important parts of navigation systems as a result. Gyroscopes are used in navigation systems, including inertial navigation systems (INS), attention and heading reference systems (AHRS), and inertial measurement units (IMUs) for human and unmanned aircraft, spacecraft, marine, and surface vehicles. The RLG measures rotation. With its cost-effective, high-performance inertial sensor, electronics, power supply, and sensory element, the vehicle device is small and user-friendly.
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Auto gyroscopes measure the vehicle’s angular rate or velocity. Dynamic stabilization and torque neutralization are also used. MEMS gyroscopes are utilized in microchip gyro-meters. Increases in vehicle automation and safety are growing in the automotive gyroscope industry. MEMS gyroscopes are used in modern electronics and small devices. MEMS gyroscopes are used in tachometers and potentiometers. Smart devices and improved cars are driving the demand for MEMS gyros. MEMS gyroscopes, necessary for managing power and balancing in electric vehicles, are in high demand as the electric vehicle market grows.
Demand for autonomous vehicles (AV) in commercial and military sectors is driving the market growth. In addition, higher market investments lead to technological breakthroughs, which improve performance and lower prices. This is driving the growth of the market for gyroscope systems across many industries. Despite this, market growth is limited by production complexity and expensive costs.
Two-wheeler sales dominated in 2021. The rise of autonomous vehicles will boost the automotive gyroscope market throughout the forecast period. The bulk of autonomous vehicles use gyroscopes to steer. The market for semi-autonomous and completely autonomous vehicles is expected to increase rapidly over the next decade.
The gyroscopes market is competitive. The market for gyroscopes will gain from autonomous vehicles and technical improvements in the future. The level of rivalry among the various existing competitors is high. In the future, corporate innovation will increase market demand.
The Asia-Pacific market is predicted to grow 9% from 2022 to 2030. In emerging nations, gyroscopes are needed to make sophisticated automobile systems. Most cars and auto parts are made in China, India, South Korea, and Japan. Demand for automotive gyroscopes is driven by the automotive industry’s growth and the inclusion of modern technology. In Asia and the Pacific Rim, electric car demand is growing at a 25% CAGR (2022 to 2030). This will boost the demand for car gyroscopes.
Key Market Trends:
- The automotive gyroscope industry is expected to grow 8% from 2022 to 2030.
- Demand for autonomous vehicles (AV) in commercial and military sectors is driving the market growth.
- Two-wheeler sales dominated in 2021.
- The Asia-Pacific market is predicted to grow 9% from 2022 to 2030.
- The gyroscopes market is fragmented with intense competition
- Some of the top players in this industry include Murata Electronics Oy, Honeywell International Inc., Robert Bosch GmbH, Trimble Navigation Ltd., Analog Devices Inc., and others.
- 2 Axle
- 3 Axle
- 6 Axle
- MEMS Gyroscope
- Fibre Optic Gyroscope (FOG)
- Ring Laser Gyroscope (RLG)
- Hemispherical Resonating Gyroscope (HRG)
- Dynamically Tuned Gyroscopes (DTG)
- Other Technologies
- Commercial Vehicle
- Passenger Vehicle
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