In 2023, the market for automobile powertrain sensors was estimated to be worth USD 17.6 billion. The industry is projected to expand at a CAGR of 6.68% from 2023 to 2032, growing to a value of over USD 24.9 billion.
Powertrain sensors increase the vehicle’s operation’s dependability and efficiency. The market for powertrain sensors is expected to grow as a result of manufacturers making increasingly complex sensors. The growing demand for electronics in automobiles from the residential and commercial sectors has led to a considerable increase in the production of vehicles, which is promoting the expansion of the automotive powertrain sensors market.
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Top Companies Market Share in Automotive Powertrain Sensors Industry: (In no particular order of Rank)
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- Robert Bosch
- Delphi
- Denso
- Continental
- Freescale
- Hella
- Infineon
- Sensata Technologies
- Texas Instruments
- Mitsubishi
- PCB Piezotronics
- NXP Semiconductors
- Murata
- Amphenol
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Factors affecting the growth of the Automotive Sensor industry
The development of the automotive sensor market may be impacted by a number of variables. Among these elements are:
Rising disposable income: The demand for medium-duty transportation vehicles increased as disposable income rose in developing nations like India, Latin America, and South-East Asia.
Increase in Autonomous Features: Over the next few years, commercial vehicles are likely to rapidly acquire an increase in autonomous features.
Vehicle Sensor Features: The telematics, safety, and security offered by vehicle sensor features will drive the market’s profitable expansion.
characteristics of ADAS Sensors: The ADAS sensor incorporates airbags, rain, tires, ultrasound, and many other characteristics to ensure vehicle safety.
Top Trends in the Global Market for Automotive Sensors
The market for automotive sensors will expand as hybrid and electric vehicles gain popularity and as consumers become more aware of the advantages and benefits of employing sensors. As a result, there will be more vehicles on the road worldwide. Hybrid electric vehicles clearly offer advantages in terms of lower CO2 emissions, greater economy, and cheaper maintenance costs. The demand for and use of sensors will increase dramatically in North America and Europe during the projection period as a result of the quick integration of security systems into automobiles.
The demand for automotive sensors has increased as these cars gain in popularity. Key developments including shrinking and improved communication capabilities, which permit integration into automobiles without impacting the essential performance of the vehicle, are what are driving the worldwide automotive sensor market. The expanding demand for vehicle safety and protection is another factor propelling the global market. The implementation of stringent emission rules to limit CO2 emissions and the rising demand for comfort and safety will promote growth.
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Market Growth
Autonomous features in commercial cars are projected to evolve swiftly due to rising safety regulations and growing awareness of vehicle safety. In developed nations, all vehicles must include technologies like cruise control and lane departure warning. Particularly blind spot monitoring is governed in Europe.
Type Segment Analysis of Automotive Powertrain Sensors Market
Type of Automotive Powertrain Sensors analyzed in this report are as follows:
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- Process Sensors
- Position Sensors
- Motion Sensors
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Some of the key Application Type of Automotive Powertrain Sensors are:
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- Commercial Vehicles
- Passenger Vehicles
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