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A crankshaft position sensor (CPS) is basically a variable reluctance magnetic sensing device. It is among one of the most important components in engine management systems. This sensor is used in an internal combustion engine for monitoring the position or rotational speed of the crankshaft. The key functional objective of this sensor is to determine the rotational speed (RPM) and velocity of the crank. It also registers the rate at which the crankshaft spins. The engine control unit (ECU) then uses this information for regulating ignition, fuel injection and other crucial engine parameters. The location of the crankshaft plays an important role in determining how effectively this data can be collected.

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Crankshaft position sensor offers numerous advantages in terms of precise digital measurement of rotational speeds, high resistance against external intervention and good quality component technology developed and manufactured to possess very fine tolerances At times, these sensor may become burnt or damaged. Exposure to extreme heat is among the most common causes of crankshaft position sensor failure.

The modern crankshaft position sensor have been designed as closed units and are thus saved from damage by water of other fluids. This advancement in design and technology development of crankshaft position sensor is driving market growth. Also, ongoing transformation of vehicles with increasing production volumes of automobiles globally is favoring market growth. This is leading to rise in the adoption of crankshaft position sensor in vehicles. Further, stringent government regulations regarding vehicle emission is creating a positive impact for growth in adoption of these sensors. However, limited standardization for performance measurement features as well as high cost of research and development is acting as a major restraint to crankshaft position sensor market growth. Increasing application areas of crankshaft position sensor in aerospace industry, coupled with developing automotive industry in emerging economies such as India, China, etc., is creating path for new market growth opportunities.

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The crankshaft position sensor market can be segmented on the basis of sensor type, technology, output form, contact type, application, end-user, and geographically. By sensor type, the market is divided into linear rotary position sensor, position sensor, and proximity sensors. Based on crankshaft position sensor technology, the crankshaft position sensor market can be segregated into Hall-Effect sensor, and magneto resistive sensor. In terms of contact, the market is segmented into contact, and non-contact crankshaft position sensor. By output form, the crankshaft position sensor market has been studied as analog, and digital output sensor. The different application segments of the market are aircraft, engineering machinery, ship, vehicles (passenger vehicles and commercial vehicles), and others.