The global automotive sensors market was accounted for USD 18.3 billion in year 2019. It was expected to witness growth at 8.2% CAGR during the forecast.
Covid19 has hit the automotive sector immensely. Pandemic has disrupted the smooth functioning of the automotive market. Due to pandemic situation the export of Chinese market is on pause, Europe has stopped large scale manufacturing while the assembly plants in US are closed. Thus the production of vehicle is almost on paused across the globe. There is a shortage of raw materials for production to resume. Thus the automotive sensors market is expected to witness drop due to pandemic.
For more details, visit: Global Automotive Sensors Market By Type (Temperature, Pressure, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), By Application (Powertrain, Chassis, Others) , By Region–Forecast & Opportunities to 2026
The strict government rules of the emission have driven automotive market towards vehicle electrification, thus driving the sensors market. The electrification of vehicle involves use of various sensors, actuators and ECU.
The automotive sensor market based on type has been segmented into temperature sensors, position, pressure, oxygen, speed, inertial, NOx sensors, image sensors etc. Position sensors are defined as device which is used to measure position either linear or angular in various components such as powertrain, chassis and safety & control etc. These sensors give all the information to ECM. Position sensors are primarily used in camshaft positioning sensors and throttle positioning sensors. Position sensor is expected to dominate the market and to witness growth at highest CAGR during forecast period.
The automotive sensors market based on vehicle type has been segmented into passenger vehicle, light commercial vehicle (LCV) and heavy commercial vehicle (HCV). Passenger vehicle segment is expected to register growth at highest CAGR during the forecast period. Passenger car segment is widely used and accounted for the largest shipment of total automotive vehicles across the globe. The use of sensors in passenger cars reduces emission and improves safety of passenger. Thus the demand of sensors is increasing in passenger car segment.
The automotive sensors market based on application has been segmented into powertrain, chassis, safety & control and telematics. The powertrain segment is expected to growth at a highest CAGR over the forecast period. Position, gas, speed, pressure and temperature are the sensors majorly used in powertrain. All these are required for proper and efficient working of powertrain.
Asia-Pacific is region which is constantly growing in automobile sector. Many OEMs are setting their manufacturing plants in this region. This region is popular for producing compact and cost-effective vehicles. Countries like china and India are the fast growing economies and expected to lead the automobile market during the forecast period. The demand for automobiles vehicles has been increasing in this area leading to growth of automobile market. Asia-Pacific region is expected to grow at a CAGR of near XX% during the period of 2020-2026.
The key market players in automotive sensors market are Robert BOSCH, Continental AG, Delphi automotive, Denso, Infeneon technologies, Sensata technologies, Allergo Microsystems, Analog Devices, Elmos Semiconductor, CTS corporation, Bradcom Ltd., Bourns Inc, Micronas Semiconducto Inc, Panasonic and TRW Automotive.
- What are the expected industry trends over the next three to five years?
- Which of the automotive sensors type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?