Automotive Sensors Market Opportunities, Key Players, Competitive and Regional Analysis by Forecast 2030

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Automotive sensors are electronic devices integrated into vehicles to monitor and gather data on various aspects of their operation. They play a crucial role in modern automotive systems, providing real-time information about factors such as engine performance, air quality, temperature, and vehicle positioning. These sensors transmit data to the vehicle's control unit, allowing for optimal performance, safety, and efficiency. Common types of automotive sensors include those for engine speed, tire pressure, airbag deployment, and parking assistance, enabling improved vehicle performance, driver assistance, and overall safety in today's automobiles.

The global automotive sensors market is expected to reach $12.79 billion by 2030, with a CAGR of 5.47% during the forecast period 2021-2030. Original equipment manufacturers (OEMs) are integrating numerous sensors in their vehicles to achieve performance demands being made by customers regarding increased productivity and minimization of vehicle downtime. Companies are developing solutions to deal with issues such as driver fatigue, which is being seen as a major factor in about 20% of road accidents happening today.

Temperature Sensors to Dominate the Market Throughout the Forecast Period

Major sensors such as temperature sensor, pressure sensor, position sensor, speed sensor, level sensor, inertial sensor, gas sensor, flow sensor, knock sensor, force sensors, and torque sensors, among others are, largely, being developed by sensor manufacturers. The growth of temperature sensors segment is mainly due to extensive stringent government regulations regarding the exhaust emissions, which is a key factor driving the growth of temperature sensors market, by increasing the deployment of exhaust gas temperature sensors to monitor the proper functioning of the exhaust system. 

Powertrain Segment is Expected to Dominate the Market Throughout the Forecast Period

The major sensor manufacturers are developing various kinds of sensors for calculating parameters such as temperature, pressure, position, and speed, among others, in various vehicle applications such as powertrain, chassis, body, safety, and exhaust systems. 

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The growth of the powertrain application segment can be attributed to factors such as increasing demand for fuel efficiency and reduced emissions in vehicles. Governments are mandating various forms of laws and regulations to keep a check on environmental pollution in regions such as North America, Europe and Asia, which are further propelling OEMs toward striving for technological advancements. For instance, in the U.S., Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) have taken measures to lower the greenhouse gas emissions such as the National Program for Greenhouse Gas Emissions and fuel economy standards.

MEMS Technology to Dominate the Market

The sensor manufacturers are working towards the development of advanced technologies, such as micro-electromechanical systems (MEMS) and Nano-electromechanical systems (NEMS) to reduce the size of sensors, which will increase the performance of these sensors corresponding to their macro-scale devices. MEMS sensor have a high market share in the market due to low cost per device of the MEMS sensor in comparison to the macro-device technologies, as their fabrication process uses similar batch fabrication techniques used in the semiconductor production.

OEMs to Dominate the Automotive Sensors Market

The different modes of sales for automotive sensors includes original equipment manufacturers (OEMs) and aftermarket. OEM is an independent entity that operates as a rebranding company for original manufacturers of products such as automotive sensors, while the aftermarket is a secondary market that supplies automotive parts and accessories after the original sale of the vehicle.

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Global Automotive Sensors Market by Region

The global automotive sensors market has been segmented based on region North America, Europe, U.K., China, Asia-Pacific and Japan, South America, and the Middle East and Africa. China is among the top leading countries in terms of vehicle production. The country is a hub of numerous vehicle manufacturers, which in turn contribute to the demand for automotive sensors in the region.

Competitive Landscape

The competitive landscape of the automotive sensor market consists of established automotive sensor providers. These companies are adopting different strategies such as business expansions, product launches, mergers/partnerships/collaborations, and acquisitions, in order to enhance their market presence, technical expertise, and geographical reach. Key players operating in the market are Continental AG, Robert Bosch GmbH, TE Connectivity, Sensata Technologies, Melexis, Allegro Microsystems, and Denso Corporation, among others.

Furthermore, prominent industry players are making active efforts to advance the commercialization of low-cost, miniaturized, and highly reliable automotive sensor. In addition to this, given the industry’s initial developmental stage and huge growth potential, it is expected that the market will observe an increase in the number of key strategic developments in the near future, among different stakeholders including automotive sensor manufacturer, automotive OEMs, and various other technology players in the market.