Automotive Sensors Market statistics | BIS Research
Automotive Sensors Market statistics | BIS Research
Automotive Sensors market to grow at a significant CAGR 5.47% during 2021-2030.

Automotive Sensors Market statistics | BIS Research

The history of the origin of sensors dates back to the early 1800s, wherein electrical resistance in various materials was a primary characteristic and was used to develop a temperature sensor that was based on copper resistors. The sensors have evolved from handling basic functionalities to handling all applications such as temperature control, pressure monitoring, and determining vehicle position. Some of the prominent automotive sensors being used nowadays are mass air flow sensor, engine speed sensor, manifold absolute pressure sensor, knock sensor, fuel temperature sensor, and current sensor.

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Automotive Sensors Industry Overview

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.

Rising demand for automotive sensors in automobiles can be witnessed in the market, largely owing to the increase in government regulations for automobile safety and emission control. The regulations are increasing the demand for automotive sensors in applications such as body control system, power steering system, climate control, and anti-braking system (ABS). These features are being deployed by sensor manufacturers as a popular option in vehicles.

Global Automotive Sensors Market by Application

The global automotive sensors market has been segmented based on application, including powertrain, chassis, body electronics, safety and control, and exhaust system. The powertrain segment is expected to dominate the market by application. The powertrain sensors market is driven by factors such as increasing demand for fuel efficiency and lower emissions in vehicles.

Governments are mandating laws and regulations to keep a check on environmental pollution in regions such as the U.S., Europe, and Asia, which is further forcing OEMs to embrace technological advancements. For instance, in the U.S., Environmental Protection Agency (EPA) with National Highway Traffic Safety Administration (NHTSA) has taken measures and developed programs to lower the greenhouse gas emissions such as the National Program for Greenhouse Gas Emissions and fuel economy standards. This program includes light duty cars and trucks and is expected to reduce 2 billion metric tons of greenhouse gas emissions and 4 billion barrels of oil over the model year 2017-2025.

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.

Key Market Players and Competition Synopsis

Key companies operating in the market include Continental AG, Robert Bosch GmbH, TE Connectivity, Sensata Technologies, Inc., Denso Corporation, BorgWarner, ZF Friedrichshafen AG, Infineon Technologies, STMicroelectronics, Hella GmbH, NXP Semiconductors, Analog Devices, Inc., Melexis, CTS Corporation, Allegro Microsystems, Inc.

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The companies that are profiled in the report have been selected post undergoing in-depth interviews with experts and understanding details around companies such as product portfolios, annual revenues, market penetration, research and development initiatives, and domestic and international presence in the automotive sensors market.