A shift in a physical phenomenon, such as pressure, temperature, or speed, can be detected using sensors. The demand for sensors has increased dramatically due to technological advancements in the automobile sector. The precise state of the vehicles, such as the oil pressure, temperature, emission level, coolant level, and fuel usage, are controlled and monitored by automotive sensors. Many different kinds of sensors are used in cars, including gasoline temperature, spark knock, voltage, and mass airflow sensors.
The market for automotive sensors in 2021 was USD 23.3 billion, and by 2030 it will be worth USD 74.42 billion, growing at a 13.6% CAGR during the forecast period.
The major factors stimulating the growth of the automotive sensor market are rising demand for electric and solar-powered vehicles, growing concern over reducing global emissions, rising awareness of safety and routine engine maintenance, and advancements in sensor technology.
Market Dynamics
Drivers
Key drivers accelerating the market growth are the increasing demand for sensors in electric and hybrid cars, increased pressure sensor application in the automotive industry, and significant growth in custom-designed automotive electronic devices. Due to strict government regulations regarding the emissions of harmful gases into the atmosphere, the increase in demand for electric vehicles has been dramatically driven in recent years. The market development has also been significantly driven by public concern for safety and security in recent years. For example, The World Forum for Harmonization of Vehicle Regulations has published some global technical regulations for enhanced vehicle safety, which include technical specifications for OBD for road cars and electronic stability control systems.
Restraints
The market growth is hampered by factors such as restricted temperature range, reduced shelf life, difficulty in designing, limited operating range, and high cost of the automotive sensor.
Opportunity
Due to increased vehicle demand and stringent government regulations to decrease CO2 emissions, the market for automotive sensors is expanding. Electric cars can now be electrified thanks to advanced technology. Electric cars are displacing internal combustion engines in many nations. As a result, electric vehicles now require more sensors. Electric vehicles require a significantly higher number of automotive sensors than gasoline-powered cars.
Market Segmentation
By Type
On the basis of type, the automotive sensor market is segment into mass airflow and inertial automotive sensor, temperature automotive sensors, torque, and viscosity automotive sensors, position and speed automotive sensors, and position and speed automotive sensors.
The position sensor segment ruled the entire market in 2021 with 62% of the revenue share. Position sensors are use to track an object’s precise movement. There are two different kinds of location sensors: rotary and linear. Positions senior are in higher demand due to their numerous uses in areas like motor shaft position sensing, seat position sensing, steering angle sensing, and automated driving localization. The position sensor market is growing as demand for automated machinery and electric cars increases.
By Vehicle
On the basis of vehicle type, the automotive sensor market is segment into commercial vehicles and passenger vehicles.
The passenger car segment was the biggest market in 2021, with USD 8.2 billion in revenue. The market for automotive sensors is expanding due to rising consumer desire for high-performance vehicles, increased public awareness of safety, and government initiatives encouraging the use of low-emission vehicles.
By Application
On the basis of application, the automotive sensor market is segment into chassis and powertrain.
The powertrain segment was the largest market contributor in 2021, with a revenue share of nearly 50%. Powertrain sensors are in high demand due to their use in engine management and transmission control and their low power consumption, high precision, and sensitivity. The ability of a well-designed powertrain sensor to lower vehicle emissions is crucial.
Regional Analysis
Asia Pacific ruled the regional market in 2022 with a revenue share of more than 46.8%. The primary factor stimulating the growth of this regional market is the rising demand for vehicles with improved safety features and rising purchasing power in the area. The demand for automotive sensors is particularly high in emerging countries in the Asia-Pacific region, including China and India. The region’s large consumer base and efforts to promote the green movement have flourished using sensor technology, notably in the automotive industry.
North America is the second largest regional market, followed by Europe. The main factor boosting the growth of this region are the presence of significant key players, advancements in electronic control systems, increased investment in research and development, and safety regulations set by the government to lower accidents.
Key players
- Continental AG
- Robert Bosch
- Delphi Automotive Company
- AUTOLIV INC
- DENSO Corporation
- Valeo
- NXP Semiconductor
- Sensata Technologies
- STMicroelectronics N.V.
- Infineon Technologies AG
The market for automotive sensors in 2021 was USD 23.3 billion, and by 2030 it will be worth USD 74.42 billion, growing at a 13.6% CAGR during the forecast period. The market growth is significantly drive by the growing use of alternative fuels and vehicles and improving global energy security.
Pressure sensors are turning into an indispensable piece of motor and security. Inside the motor, the sensors screen the oil and coolant pressure and direct the power that the motor conveys to accomplish the necessary speed, at whatever point the gas pedal or brake pedals are applied.
Rising reception of ADAS and autonmous driving frameworks is the significant justification behind the raised interest for auto sensors which thus is probably going to expand the interest for pressure sensor. Ascend popular for solace and security highlights in vehicle is probably going to expand the entrance of strain sensors in vehicle.
Furthermore, on account of security highlights, pressure sensors comprise a fundamental piece of the stopping automation (ABS). This framework adjusts to the street landscape and guarantees that, in the event of slowing down at high paces, tires don’t lock, and the vehicle doesn’t slide.
Besides, airbag frameworks likewise use pressure sensors to enact airbags, and to guarantee the wellbeing of the travelers and the driver, at whatever point a vehicle encounters an accident influence.
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