automotive engine and transmission sensors market REPORT OVERVIEW
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The global automotive engine and transmission sensors market is expected to be worth 6672.6 million in 2022. As per our research, the market is projected to touch USD 7729.1 million by 2028 with a CAGR of 2.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Automotive engine and transmission sensors are crucial components that monitor various parameters to optimize engine performance and gear shifting. These sensors include the mass airflow sensor (MAF), which measures the amount of air entering the engine, ensuring the correct air-fuel mixture for efficient combustion. The throttle position sensor (TPS) monitors throttle plate position, while the crankshaft position sensor (CPS) tracks the crankshaft's rotation, enabling precise ignition timing.
Transmission sensors, like the speed sensor, monitor vehicle speed, aiding in smooth gear changes. The data gathered by these sensors is sent to the engine control unit (ECU), allowing for real-time adjustments, improving fuel efficiency, and reducing emissions. All of these factors have helped in the development and growth of automotive engine and transmission sensors market share.
COVID-19 impact: Accelerated Adoption of Remote Diagnostics during Pandemic Increased Market Growth
The pandemic of COVID-19 became a major hinderance for all the sectors and companies. The COVID-19 pandemic disrupted the automotive industry, impacting engine and transmission sensor production. Supply chain interruptions led to component shortages, affecting sensor manufacturing. Lockdowns and reduced vehicle production caused a temporary dip in sensor demand.
However, the pandemic accelerated the adoption of remote diagnostics and autonomous vehicles, increasing the need for advanced sensor technology. This shift towards electrification and connectivity stimulated innovation in sensor design, emphasizing reliability and precision. Despite initial setbacks, the pandemic ultimately catalyzed the automotive sensor market's evolution, highlighting the industry's resilience and adaptability in the face of global challenges.
LATEST TRENDS
"Integration of Advanced Sensor Technologies to Fuel Market Growth"
Innovations in automotive engine and transmission sensors are transforming vehicle performance and efficiency. Advanced sensor technologies now include MEMS (Micro-Electro-Mechanical Systems) sensors, enabling smaller, more precise measurements. LiDAR sensors enhance collision avoidance and autonomous driving capabilities.
Additionally, intelligent sensors equipped with AI and machine learning algorithms can predict maintenance needs, optimizing engine and transmission performance while reducing downtime. Furthermore, environmental sensors are becoming more prevalent, aiding in emissions control and environmental compliance. These innovations are fostering a new era of smart, eco-friendly vehicles, offering enhanced safety, reliability, and environmental responsibility on the road.
automotive engine and transmission sensors market SEGMENTATION
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- By Type:
The market can be divided on the basis of OS system into the following segments:
Piezoresistive pressure sensor, capacitive pressure sensor, resonant pressure sensor, optical pressure sensor, and, other pressure sensors.
The piezoresistive pressure sensor segment is anticipated to dominate the market during the forecast period.
- By Application:
Classification based on application into the following segment:
Antilock braking system, airbag system, and direct tire pressure monitoring system, and, others.
The antilock braking system segment is predicted to dominate the market during the research period.
DRIVING FACTORS
"Consumer Demand for Enhanced Safety Features to Accelerate Market Growth"
The driving factors in automotive engine and transmission sensors are multi-faceted. Stringent emissions regulations worldwide compel automakers to deploy sensors to monitor and optimize engine performance for reduced pollution. The push towards electrification necessitates sensors to manage battery health and electric power distribution. Consumer demand for enhanced safety features fuels the integration of sensors for adaptive cruise control, collision avoidance, and autonomous driving.
Fuel efficiency concerns drive innovations in engine sensors, while the need for smoother gear shifting propels advancements in transmission sensors. Overall, environmental regulations, electrification trends, safety demands, and efficiency goals collectively propel the continuous development and integration of engine and transmission sensors in modern vehicles.
"Rapidly Expanding Market for Electric Vehicles to Propel Market Growth "
Beyond regulatory compliance and technological advancements, market competition and consumer expectations are significant driving factors in the automotive engine and transmission sensor industry. Intense rivalry among automakers compels continuous sensor innovation to gain a competitive edge in performance, fuel efficiency, and safety.
Consumers increasingly prioritize features like improved fuel economy and seamless gear shifts, prompting automakers to invest in sensor technologies that deliver on these expectations. Additionally, the growing market for electric vehicles creates demand for sensors to manage electric powertrains effectively. As the automotive landscape evolves, the need to stay ahead in the sensor technology race remains a compelling driver for innovation and development. All the above-mentioned factors are propelling the automotive engine and transmission sensors market growth.
RESTRAINING FACTOR
"High Complexity of Sensor Integration to Bring Down Market Growth"
Several restraining factors affect the automotive engine and transmission sensor industry. Cost constraints can limit the adoption of advanced sensors, especially in lower-priced vehicle segments. The complexity of sensor integration can also be a challenge, as it requires significant engineering expertise and resources. Reliability concerns, such as sensor malfunctions or false readings, can hinder widespread acceptance.
Additionally, data security and privacy issues arise with the increasing connectivity of vehicles. Furthermore, supply chain disruptions and semiconductor shortages, as seen recently, can impact sensor availability. These restraining factors underscore the need for balancing innovation with cost-effectiveness, reliability, and security in the development and deployment of automotive sensors.
automotive engine and transmission sensors market Regional Insights
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"Asia Pacific to Dominate Market owing to Surge in Automotive Industry"
Asia Pacific, particularly China, emerges as the leading region in automotive engine and transmission sensors. China's robust automotive industry, the largest in the world, drives substantial sensor demand. It benefits from a vast consumer market and significant vehicle production, with a focus on electric and hybrid vehicles.
Moreover, the presence of numerous sensor manufacturers and technological advancements fosters innovation and cost competitiveness. Southeast Asian countries like Japan and South Korea also play pivotal roles in sensor production and research. This regional dominance is underpinned by the Asia-Pacific's position as a global automotive manufacturing and technology hub, making it the primary driver of sensor development and adoption.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the global market.
List of Market Players Profiled
- Robert Bosch (Germany)
- Continental (Germany)
- Denso (Japan)
- Delphi (Ireland)
- Sensata (Netherlands)
- Analog Devices (U.S.)
- Infineon Technologies (Germany)
- NXP Semiconductors (Netherlands)
- Texas Instruments (U.S.)
- Melexis (Belgium)
- GE (U.S.)
- TE Connectivity (U.S.)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 6672.6 Million in 2022 |
Market Size Value By |
US$ 7729.1 Million by 2028 |
Growth Rate |
CAGR of 2.5% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global automotive engine and transmission sensors market expected to touch by 2028?
The global automotive engine and transmission sensors market is expected to touch 7729.1 million by 2028.
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What CAGR is the global automotive engine and transmission sensors market expected to exhibit during 2022-2028?
The automotive engine and transmission sensors market is expected to exhibit a CAGR of 2.5% over 2022-2028.
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Which are the driving factors of the automotive engine and transmission sensors market?
Consumer demand for enhanced safety features and rapidly expanding market for electric vehicles to drive automotive engine and transmission sensors market growth and development.
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Which are the top companies operating in the automotive engine and transmission sensors market?
Robert Bosch, Continental, Denso, Delphi, and, Sensata are some of the top companies that are operating in the automotive engine and transmission sensors market.