Published Year: 2024
Electric Vehicle Sensors Market - A Global and Regional Analysis: Focus on Vehicle Type, Power Sourc
The global electric vehicle sensors market was valued at $4.55 billion in 2023, and it is...
Market Research Report
A quick peek into the report
Global Automotive Sensors Market Overview
The global automotive sensors market was valued at $26.06 billion in 2023, and it is expected to grow at a CAGR of 7.39% and reach $53.16 billion by 2033. The global automotive sensors market thrives due to the integration of advanced mobility solutions, driving innovations in sensor technology, adaptive controls, safety, and eco-friendly solutions. OEM-supplier collaborations and regulatory shifts further shape this dynamic market, focusing on reliable and efficient technology for optimal vehicle performance and safety.
Introduction of Automotive Sensors
Automotive sensors are electronic devices engineered to detect and quantify various physical parameters within a vehicle or its surroundings. These parameters encompass speed, temperature, pressure, position, acceleration, proximity, and emission levels, among others. They hold a pivotal role in contemporary automotive systems by capturing real-time data and transmitting it to the vehicle's electronic control unit (ECU) or other systems. Automotive sensors are essential components in automotive technology, facilitating functions such as engine management, fuel injection, emissions control, anti-lock braking systems (ABS), traction control, airbag deployment, parking assistance, and more.
Market Introduction
The global automotive sensors market is at the forefront of technological advancement, which is reshaping the landscape of modern vehicles from conventional vehicles to automated vehicles. Significant progress in sensor technology enhanced automotive efficiency, safety, and comfort. From collision avoidance systems to adaptive cruise control, vehicle sensors play a crucial role in enhancing driver assistance features and paving the path for future autonomous vehicles. Additionally, the rapidly growing demand for electric vehicles has emerged as a necessity for advanced sensors to monitor battery health and safety. Furthermore, emerging Internet of Things (IoT) and connected car economy sensors are increasingly integrated to provide real-time data for predictive maintenance and thereby enhance the personalized driving experience.
Industrial Impact
The global automotive sensors market's industrial impact extends across automotive manufacturing, technology development, and sustainable mobility. Advancements in automotive sensor technology drive innovation and foster the development of safer and more efficient vehicles. This spurs collaborations between automakers and component suppliers, elevating manufacturing standards and pushing R&D boundaries. Additionally, it fuels job creation in specialized engineering and production sectors, supporting the broader automotive sensor ecosystem. Moreover, the emphasis on eco-friendly and efficient sensor solutions aligns with global sustainability goals, influencing broader industrial practices and promoting greener automotive technologies.
The key players operating in the global automotive sensors market include Continental AG, Robert Bosch GmbH, TE Connectivity, Sensata Technologies, Inc., DENSO CORPORATION., BorgWarner Inc., ZF Friedrichshafen AG, Infineon Technologies AG, STMicroelectronics, HELLA GmbH & Co. KGaA, NXP Semiconductors, Analog Devices, Inc., Melexis, CTS Corporation and Allegro MicroSystems LLC, among others. These companies are focusing on strategic partnerships, collaborations, and acquisitions to enhance their product offerings and expand their market presence.
Market Segmentation:
Segmentation 1: by Application
• Powertrain
• Chassis
• Body
• Safety and Control
• Exhaust Systems
Powertrain Segment to Dominate the Global Automotive Sensors Market (by Application)
Leading sensor manufacturers are actively engaged in developing a wide array of sensors capable of measuring critical parameters such as temperature, pressure, position, and speed across various vehicle applications, including powertrain, chassis, body, safety, and exhaust systems. The dominance of the powertrain segment in the global automotive sensor market is primarily attributed to the growing emphasis on achieving fuel efficiency and reducing emissions in vehicles. Governments worldwide, particularly in regions such as North America, Europe, and Asia-Pacific, are enacting stringent laws and regulations to address environmental pollution concerns, prompting original equipment manufacturers (OEMs) to intensify their efforts toward technological advancements.
Segmentation 2: by Vehicle Type
• Conventional Vehicles
o Passenger Vehicles
o Light Commercial Vehicles
o Heavy Duty Trucks
o Heavy-Duty Buses
• Electric Vehicles
o Passenger Vehicles
o Commercial Vehicles
Conventional Vehicles to Dominate the Global Automotive Sensors Market (by Vehicle Type)
Conventional vehicles make up a significantly larger portion of the overall automotive market compared to other vehicles. This sheer volume contributes to a larger demand for automotive sensors in the conventional vehicle segment. Consumer interest in and adoption of conventional electric vehicles has been stronger than that of other vehicles. Factors such as cost savings, environmental consciousness, and government incentives have driven this demand. The focus on developing advanced automotive sensors has primarily been directed toward conventional vehicles due to their higher market share. Manufacturers often prioritize R&D efforts on conventional EVs to improve efficiency, range, and performance. All this is expected to drive the global automotive sensors market during the forecast period 2023-2033.
Segmentation 3: by Sensor Type
• Temperature Sensor
• Pressure Sensor
• Position Sensor
• Speed Sensor
• Level Sensor
• Inertial Sensor
• Gas Sensor
o Oxygen Sensor
o Nitrogen Oxide Sensor
o Carbon Dioxide Sensor
o Carbon Monoxide Sensor
• Proximity Sensor
• Flow Sensor
• Knock Sensor
• Force Sensor
• Torque Sensor
• Humidity Sensor
• Others
Temperature Sensor Expected to Showcase Considerable Growth in the Global Automotive Sensors Market (by Sensor Type)
Temperature sensors play a pivotal role in the global automotive sensors market (by sensor type), particularly in modern vehicles equipped with sophisticated electronic systems. These sensors are crucial for monitoring and regulating temperature levels within various vehicle components, including the engine, transmission, exhaust system, and battery packs in electric vehicles (EVs). With the increasing demand for higher fuel efficiency, improved performance, and enhanced safety standards, the significance of temperature sensors has surged. Moreover, advancements in temperature sensing technology, such as the development of more accurate and durable sensors capable of withstanding harsh automotive environments, continue to drive innovation in the market, ensuring vehicles operate at optimal temperatures for maximum efficiency and longevity.
Segmentation 4: by Technology
• Micro-Electromechanical Systems (MEMS)
• Non-MEMS
Micro-Electromechanical Systems (MEMS) to be the Fastest Growing in the Global Automotive Sensors Market (by Technology)
Micro-electromechanical systems (MEMS) offer unparalleled precision and versatility in monitoring various parameters crucial for vehicle performance and safety. MEMS sensors are integrated into vehicles for functions such as tire pressure monitoring, inertial measurement, and airbag deployment systems. Their miniature size and low power consumption make them ideal for embedding within automotive systems without compromising vehicle design or functionality. With the automotive industry rapidly advancing in autonomous driving and smart vehicle technologies, the demand for MEMS sensors is poised to surge further, driving continuous innovation and advancements in sensor design and performance.
Segmentation 5: by Point of Sale
• OEM
• Aftermarket
OEM to be Dominant in the Global Automotive Sensors Market (by Point of Sale)
Original equipment manufacturers (OEMs) are increasingly turning to advanced sensor technologies to enhance vehicle performance, safety, and efficiency. With the automotive industry's rapid evolution toward electrification and connectivity, OEMs aim to deliver vehicles equipped with highly reliable and precise sensors. This demand has fuelled the development of cutting-edge sensor technologies, enabling vehicles to perceive and react to their surroundings with accuracy. As automakers strive to meet stringent regulatory standards and consumer expectations for superior driving experiences, the integration of advanced sensor solutions has become paramount. OEMs are investing heavily in research and development to innovate sensor designs, improve durability, and enhance performance, thereby advancing their position at the forefront of the global automotive sensors market.
Segmentation 6: by Region
• North America: U.S., Canada, and Mexico
• Europe: Germany, France, U.K., Italy, Netherlands, and Rest-of-Europe
• Asia-Pacific: China, Japan, Australia, South Korea, India, and Rest-of-Asia-Pacific
• Rest-of-the-World: Brazil, U.A.E., and Others
The Asia-Pacific region is a dominant region in the global automotive sensors market. This was primarily due to the robust presence of extensive manufacturing hubs, technological advancements, and supportive government policies promoting automotive innovation in countries such as China, Japan, South Korea, India, and Rest-of-Asia-Pacific. Asia-Pacific nations, particularly China, have been leading in automotive sensor production. Their expertise in manufacturing and economies of scale have enabled them to lead the manufacturing of a diverse range of automotive sensors. Continuous innovation in sensor technology is a key factor. Asian countries, with their strong R&D focus, have been at the forefront of developing more efficient and effective sensor technologies. Substantial government incentives, subsidies, and regulations supporting the adoption of automotive sensors have played a significant role in propelling the market in this region.
Recent Developments in the Global Automotive Sensors Market
• In February 2024, ZF Aftermarket introduced original equipment (OE)-quality sensors under its WABCO brand, with comprehensive support to ensure compliance and maximize safety. By providing essential components and repair kits, the company facilitates efficient and high-quality repairs.
• In October 2023, Honeywell, a U.S.-based consumer technology company, announced the launch of its new sensor solutions aimed at addressing safety issues throughout the electric vehicle (EV) manufacturing and usage landscape.
• In October 2023, KOITO MANUFACTURING CO., LTD. and DENSO CORPORATION collaborated to enhance night driving safety by improving the object recognition rate of vehicle image sensors. Through this collaboration, they aimed to reduce nighttime accidents and fatalities by integrating lighting technology with sensor development expertise.
• In June 2022, Microchip Technology Inc., a global semiconductor manufacturer, introduced the LX34070 IC, an innovative inductive position sensor tailored for electric vehicle (EV) motor control applications. This sensor is designed with features such as differential outputs and fast sample rates, ensuring functionality and safety compliance.
• In January 2022, Mercedes-Benz partnered with Luminar, a leading laser lidar startup, to integrate Luminar's lidar sensors into its luxury vehicles. This collaboration aimed to enhance comfort and safety and enable autonomous driving capabilities, particularly during highway driving.
Demand - Drivers, Limitations, and Opportunities
Market Demand Driver: Growing Demand for Premium Vehicles Owing to Inclination of Consumers toward Comfort and Luxury
The rising demand among consumers for superior quality, enhanced performance, greater comfort, and innovative design and technology has resulted in a surge in the demand for luxury vehicles. Key markets for luxury vehicles include China, Japan, the U.S., Canada, India, and various European countries. This heightened demand can be attributed to increasing disposable incomes and improved living standards in these regions. The key players in this sector include BMW, Mercedes-Benz, Rolls-Royce, Jaguar, Audi, Bentley, Lamborghini, Volvo, Ferrari, Land Rover, Lexus, and Cadillac.
Several companies have been collaborating to enhance comfort and safety and enable autonomous driving capabilities, which will help meet the evolving demands of luxury vehicle consumers worldwide and innovate sensor-based technology. This sensor technology will contribute to enhancing vehicle performance and longevity, thereby expected to drive the global automotive sensors market over the forecast period from 2023 to 2033.
Market Challenge: Safety and Reliability Issues with the Automotive Sensor
Automotive sensors are integral components of modern vehicle safety systems, spanning from airbag deployment and anti-lock braking to advanced driver-assistance systems (ADAS) such as automatic emergency braking and lane departure warnings. However, these sensors are susceptible to vulnerabilities. Malfunctions can trigger a chain of issues, leading to incorrect readings that confuse the vehicle's computer and result in safety systems either activating unnecessarily or failing to engage when required. This could range from an airbag failing to deploy during a collision to sudden braking for phantom obstacles, potentially causing rear-end collisions.
In addition to malfunctions, concerns regarding sensor reliability abound. Furthermore, certain ADAS systems rely on the seamless operation of multiple sensors in tandem. If one sensor becomes faulty, the entire system's functionality may be compromised. Thus, it is imperative for drivers to acknowledge the limitations of these technologies and not solely depend on them as substitutes for safe driving practices.
Market Opportunity: Rising Demand for Automotive Aftermarket Services
The automotive aftermarket plays a significant role in influencing the global automotive sensors market. As consumers seek to upgrade, customize, and maintain their vehicles with aftermarket parts and accessories, there is a consequential impact on the demand for automotive sensors. For instance, performance upgrades and enhancements often involve the installation of aftermarket sensors to monitor and optimize various vehicle systems, such as engine performance, fuel efficiency, and emissions. Additionally, cosmetic enhancements may include the integration of sensors for features like parking assistance, collision detection, and ambient lighting.
Premier Auto Trade, an EFI and Engine Management specialist, expanded its range of replacement components to align with the latest advancements in-vehicle technologies. With modern engine management systems requiring increased sophistication in sensing and control, the aftermarket sector relies heavily on dependable replacement sensors and components. The company has developed an extensive range of Fuel, Ignition, Emission, and Sensor components, boasting over 10,000 product lines across 50 categories.
The companies have been expanding their product portfolio to cater to the rising demand for automotive aftermarket services, thereby influencing the global automotive sensors market. As vehicle technologies advance and consumers seek to upgrade and maintain their vehicles, there is a growing need for reliable replacement sensors and components.
Analyst View
According to Debraj Chakraborty, Principal Analyst, BIS Research, “The global automotive sensors market is likely to grow multi-fold in the coming years, owing to the rapidly growing demand for automotive sensors. Moreover, huge investments and infrastructure development by government and federal agencies to promote advanced mobility with sensor-based technology to cut down carbon dioxide emissions are expected to further fuel the growth of automotive sensors. The market is expected to witness significant growth in the coming years, and the key players in the market are focused on strategic partnerships, collaborations, mergers, and acquisitions to expand their market presence and enhance their product offerings.”
Automotive Sensors Market - A Global and Regional Analysis
Focus on Application, Vehicle Type, Sensor Type, Technology, Point of Sale, and Country Level Analysis - Analysis and Forecast, 2023-2033
Some Faq's
Frequently Asked Questions
Automotive sensors play a pivotal role in modern vehicles by monitoring various parameters crucial for performance, safety, and efficiency. These sensors detect and measure factors such as temperature, pressure, speed, and proximity, among others, providing essential data to vehicle control systems. With the advent of advanced driver assistance systems (ADAS) and the growing emphasis on vehicle connectivity and autonomous driving, the demand for automotive sensors has surged. Key types of automotive sensors include temperature sensors, pressure sensors, position sensors, speed sensors, and oxygen sensors, each serving specific functions within the vehicle.
The key business opportunities in the global automotive sensors market are stringent regulations by government bodies and gaining a competitive edge through innovation.
The global automotive sensors market is poised to grow over time, compelling companies to come up with collaborative strategies to sustain themselves in the intensely competitive market. Companies with an identical product portfolio and a need for additional resources often partner and come together for joint venture programs, which help the companies gain access to one another’s resources and facilitate them to achieve their objectives faster.
A new entrant can focus on partnering with existing automotive sensor manufacturers. Also, start-ups can focus on funding, launching new innovative products, and expanding their sales and distribution networks.
The following are some of the USPs of this report:
• A dedicated section focusing on the trends adopted by the key players operating in the global automotive sensors market
• Competitive landscape of the companies operating in the ecosystem offering a holistic view of the global automotive sensors market landscape
• Qualitative and quantitative analysis of the global automotive sensors market at the region and country level and granularity by application and product segments
• Supply chain and value chain analysis
Automotive sensors manufacturers, raw material suppliers, component manufacturers, and electric vehicle OEMs can buy this report.
Similar Product
You may also like