Motor Vehicle Sensors Market Size, Share, Growth, and Industry Analysis, By Type (Pressure Sensor, Temperature Sensor, Speed Sensor, Position Sensor, O2 Sensor, Other), By Distribution (Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)) and Regional Insights and Forecast to 2031

Updated On: 22 April 2024

MOTOR VEHICLE SENSORS MARKET REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global motor vehicle sensors market size was USD 22920 million in 2019 and will touch USD 36390 million by 2026, exhibiting a CAGR of 6.7% during the forecast period.

The past few years have seen a noticeable acceleration of consumer demand for electric automobiles due to strict government regulations regarding dangerous gas emissions into the environment. In recent years, there has been a notable increase in motor vehicle sensors market growth due to public awareness of safety and security. For example, global technical regulations for enhanced vehicle safety have been released by the World Forum for the Harmonization of Vehicle Regulations. These regulations cover electronic braking systems and technical specifications for on-road vehicle OBD.

In response to the increasing environmental issues associated with traditionally powered automobiles, there is a significant growth in demand for electric and hybrid cars (EVs). Automotive sensors are becoming more and more necessary as a result of consumers' growing preference for zero-emission transportation and the automotive industry's growing carbon footprint.

COVID-19 Impact: Disruptions in Sales of Electric Vehicles to Deplete Market Share 

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The global COVID-19 outbreak had a detrimental effect on the industry since it severely disrupted supply chains and forced strict lockdown measures to stop manufacturing of automobiles. Moreover, the disruptions in sales of electric vehicles during the pandemic presented significant delays for manufacturers of automotive sensors.

LATEST TRENDS

"Sharp Increase in the Need for IMU Detectors to Stimulate Market Development"

Moreover, a sharp increase in the need for IMU detectors within MEMS (micro-electromechanical systems) may eventually support several prospects for market growth. The most intricate MEMS component found inside an automobile is the IMU sensor.

ASIC also known as application-specific integrated circuit during processing signals is combined with multiple gyroscope and accelerometer sensing elements to create an inertial sensor capable of quantify up to 6 degrees of freedom (6DoF) and facilitate lateral, longitudinal, and vertical acceleration for linear actions of the vehicle. This type of IMU is known as a system-in-package (SiP).

MOTOR VEHICLE SENSORS MARKET SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type

Based on type the global market can be categorized into pressure sensor, temperature sensor, speed sensor, position sensor, O2 sensor, other.

Pressure Sensor: A gadget that detects and quantifies pressure is called a pressure sensor. Here, the force applied over a surface is referred to as the pressure. Predictive maintenance and other more advanced maintenance techniques are made possible by pressure sensors. These gadgets gather data on equipment conditions in real time.

Temperature Sensor: A tool for measuring temperature is a temperature sensor. The operating temperature of solid stuff, liquids, or the air can all be considered here. There are various kinds of temperature sensors available, and they all monitor temperature using various technologies and concepts.

Speed Sensor: One kind of position sensor that is used to gauge rotational speed is the speed sensor. They can be found in a variety of commercial and race cars.

Position Sensor: A sensor that determines the location of an object is called a position sensor. A position sensor can report an object's location in absolute terms or its position in relation to another (displacement) as a function of rotational angle, linear movement, or three-dimensional space.

O2 Sensor: The amount of unburned oxygen in the exhaust is determined by the O2 sensor. It works in tandem with the electronic control unit (also known as ECU) in your car to determine the ideal air-to-fuel ratio for optimal engine performance.

Other: this category comprises of gas sensors. The gas sensor has shown the quickest growth over the projection period because to the rising focus of governments across different areas on improving vehicle fuel efficiency and controlling pollution. For example, the European Commission declared that automakers would face stiff penalties if their next generation of vehicles didn't increase fuel economy and lower CO2 emissions. In addition to improving fuel efficiency, gas sensors are primarily employed to monitor the discharge of hazardous gases into the atmosphere.

• By Application

Based on application the global market can be categorized into passenger car, light commercial vehicle (LCV), heavy commercial vehicle (HCV).

Passenger Car: A multitrack vehicle with a minimum of two axles, a driver, and typically four wheels is called a passenger automobile. Its main purpose is to transport passengers. The majority of passenger cars are utilized for public transportation on public roads.

Light Commercial Vehicle (LCV): Light commercial vehicles (LCVs) have a GVW ranging from 3.5 to 7 tons. Heavy commercial vehicles, or HCVs, have a gross vehicle weight (GVW) between 19 and 55 tons. These trucks are designed to transport large loads throughout the nation.

Heavy commercial vehicle (HCV): Any commercial vehicle having an overall gross vehicle weight also known as DGVW greater than 3,500 kg is classified into the category of heavy commercial vehicle (HCV).

DRIVING FACTORS

"Demand for Sophisticated Sensors in Cars to Support Market Expansion"

The demand for sophisticated sensors in cars is rising at the moment, enabling automakers to provide drivers with greater levels of information and entertainment, safety and security, and dependability. To compete with other companies in the market and add more features, electronic device manufacturers are adding more sensors to their products. Future growth in the automotive sensor industry is expected to be fueled by intense competition in the electronics market, constant advancements in electronic devices, and a rise in automation in the automobile sector through the use of electronic devices.

"Integration of Cutting-Edge Technologies to Foster Industry Progress"

The market is being pushed by manufacturers' increased emphasis on integrating cutting-edge technologies into passenger and commercial automobiles as a result of consumers' growing demand for vehicles with improved safety features. Furthermore, sensors are being utilized more often in places including gear shifters and car seats to make sure every part of the car is operating as it should.

RESTRAINING FACTOR

"High Development Costs to Stop Market Evolution"

However, the high development costs linked to automotive sensors are anticipated to limit industry expansion. Furthermore, the automotive industry's propensity for implementing cutting-edge technologies presents an income-generating opportunity for the integration of sensor technology into cars.

MOTOR VEHICLE SENSORS MARKET REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"Asia Pacific Domination on the Industry Owing to Rising Yearly Salaries "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific holds half of the motor vehicle sensors market share. It is anticipated to increase during the year as a result of the automobile industry's notable expansion due to factors including urbanization, rising yearly salaries, the development of infrastructure, and the region's robust manufacturing capabilities. Strict government regulations in Asia Pacific encourage the use of various ADAS in cars, which supports the expansion of the automotive sensor market. Innovation, green adoption, and technology breakthroughs enable Asia Pacific to dominate the market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Bosch (Germany)
• Continental (Germany)
• Delphi Automotive (U.S.)
• DENSO (Japan)
• Sensata Technologies (U.S.)
• Autoliv (Sweden)
• Bourns (U.S.)
• CTS (U.S.)
• Faurecia (France)
• GE Measurement & Control Solutions (U.S.)
• Gill Sensors & Controls (U.K.)
• Hamamatsu (Japan)
• Hitachi (Japan)
• Hyundai KEFICO (South Korea)
• Infineon Technologies (Germany)
• Murata (Japan)
• NGK Spark Plug (Germany)
• NXP Semiconductors (Netherlands)
• Panasonic (Japan)
• ST Microelectronics (Switzerland)
• Stoneridge (U.S.)
• Joyson Safety Systems (U.S.)
• Tenneco (U.S.)

INDUSTRIAL DEVELOPMENT

January 2023: Continental AG unveiled its unique sensors and modules made especially for electromobility. The business demonstrated how its advanced driver assist systems (ADAS) are linked with the "CV3" SoC (The system on Chip) family, which uses Ambarella's artificial intelligence (AI) technology.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.