Acumen research and consulting estimates that the global automotive temperature sensor market is anticipated to reach market size of around US$ 9,000 Mn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027. Automotive sensors detect measure and transmit vehicle performance analysis information. Sensors are devices that detect and produce a corresponding output events or changes in the environment. They sense physical input, such as light , heat, motion, humidity , pressure or any other entity, and they react by generating a display output or electronically transmitting information to further processing. It uses integrated silicon wafer manufacturing (IC) technology. This tracks and controls the changes in biological, physical and industrial systems.
Rising use of automobile pressure sensors due to the high level of protection in different passengers' safety issues such as tire-pressure monitoring systems (TPMS) and advanced Driver Assistance Systems (ADAS); increased demand for automotive sensors in hybrid and electric cars as well as for specialized Drivers (GPS), as it is widely used in the mapping and guidance systems; The market growth would however be hampered by high production costs for car sensors. Furthermore the trends in automotive technology and automotive industry development are projected to provide the automotive sensor market with lucrative opportunities globally.
Top Impacting Factors
Growing use of pressure sensors in the vehicle industry, and growing demand for automotive sensors in hybrid and electric vehicles and an expansion in the use of tailor-made electronic devices are the main factors that are driving the growth of the market. The business growth would however be hampered by high production costs for car sensors. In addition, advances in technology in the automotive industry and automotive industry growth are projected to present lucrative opportunities for the global market. During the forecast period, each of these variables is expected to affect the automotive sensor market.
Stringent emission norms are driving the market for automotive temperature sensors
In the regulation of pollution, the temperature sensor plays a significant role. The factories are focused on designing new technology to conform to regulations demanding the introduction of safer exhaust gasses with more strict emission requirements. The price of a temperature sensor, however, is high, increasing the vehicle's manufacturing costs.
Due to the increasing production and sales of vehicles in the region, Asia Pacific will dominate the market over the expected period of time. The key cause of vehicle purchases in this area is a healthy economic condition and better living standards. China is the biggest player in the automotive sensors market in this region and is the largest player. There have also been increases in the installation of automotive sensors in other countries such as India, Japan and South Korea. Increase in the implementation of sensors in the light of extremely stringent security laws, simple safety sensors such as speed sensors, which warn you over 80 kph, seatbelt alerts, car park sensors, among others. In the presence of key players in this region, Europe held the second largest market share of the market. The players in Europe make high R&D investment to help produce more advanced technological sensors than other regions. Globally, road injuries have increased the consciousness of safer vehicle transport, pushing automakers to equip sensors that safer than previously made transport.
Major players included in this report are DENSO Corporation, Robert Bosch, AUTOLIV INC, Valeo, Continental AG, Delphi Automotive Company, NXP Semiconductor, STMicroelectronics N.V, Sensata Technologies, Infineon Technologies AG, and others. The automotive temperature sensor market is competitive and consists of several players. Industries on the market constantly seek to improve their position on the market by the launch of new goods, the extension of their activities, or strategic combinations.
The global automotive temperature sensor market is segmented as below:
Automotive Temperature Sensor Market By Type
Automotive Temperature Sensor Market By Technology
Automotive Temperature Sensor Market By Application
Safety & Security
Automotive Temperature Sensor Market By Geography
Middle East & Africa
The market value of automotive temperature sensor is anticipated to be around US$ 9,000 Mn in 2027.
It is anticipated to grow around 6% CAGR amid the forecast period.2020-2027
Asia Pacific held maximum share in 2019.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Rising awareness about the application of automotive temperature sensor is expected to drive the growth of the automotive temperature sensor market.
Limited features of the temperature sensors is a major factor expected to restraint the growth of the market.
The key players operating in automotive temperature sensor market such as DENSO Corporation, Robert Bosch, AUTOLIV INC, Valeo, Continental AG, Delphi Automotive Company, NXP Semiconductor, STMicroelectronics N.V, Sensata Technologies,