Automotive Sensors Market size to grow by USD 8.33 billion from 2022 to 2027, The market is fragmented due to the presence of prominent companies like Amphenol Corp., Aptiv Plc and Auto DITEX BG Ltd., and many more - Technavio

NEW YORK, Jan. 8, 2024 /PRNewswire/ -- The automotive sensors market is estimated to grow by USD 8.33 billion from 2022 to 2027, growing at a CAGR of 6.12%. The automotive sensors market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer automotive sensors market are Amphenol Corp., Aptiv Plc, Auto DITEX BG Ltd., Dorman Products Inc., Electricfil SA, Faurecia, Hitachi Ltd., Mitsubishi Electric Corp., Niterra Co. Ltd., NXP Semiconductors NV, PRENCO Progress and Engineering Corp. Ltd., Robert Bosch Stiftung GmbH, Schaeffler AG, Sensata Technologies Inc., Spectra Premium Industries Inc., TDK Corp., Tenneco Inc., Texas Instruments Inc., Toyota Motor Corp., and Walker Products Inc.

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Company Offering:

• Amphenol Corp. - The company offers automotive sensors such as Combined Pressure and Temperature Sensors, Coolant Temperature Sensors, Current Sensors, and Fluid Level sensors.
• Aptiv Plc - The company offers automotive sensors namely Gen7 Radar Family.
• Auto DITEX BG Ltd. - The company offers automotive sensors such as COP sensors, Pressure Pulse Sensors, and Pressure Diagnostic Sensors PDS500G.
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Based on Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa.

• APAC is estimated to contribute 33% to the growth of the global market during the forecast period. The growth in the auto market in this region has been driven by industry expansion and significant investments in road infrastructure development. This region is seeing an increased demand for automotive temperature sensors, as well as oxygen and light sensors. Furthermore, the advancements in sensor technologies, such as Light Detection and Ranging (LiDAR), radar, cameras, and ultrasonic sensors have opened up new opportunities for companies operating in the regional automotive sensors market.

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• Impactful driver- The rapid shift towards vehicle electrification and hybridization drives the automotive sensors market's ascent. This transformation fuels demand for Ultrasonic sensors, Hall Effect sensors, Temperature sensors, Pressure sensors, Image sensors, Oxygen sensors, NOx sensors (Nitrogen Oxide Sensors), Position sensors, Speed sensors, Torque sensors, and Knock Sensors. These significant components play diverse roles in monitoring, controlling, and optimizing vehicle performance, safety, and emissions. As automotive technology evolves, the integration of these sensors will remain instrumental in advancing vehicle efficiency and meeting stringent environmental standards.
• Key Trend - The emerging trend of Advanced Driver Assistance Systems (ADAS) drives the automotive sensors market forward. The adoption of RADAR sensors (Radio Detection and Ranging), LiDAR (Light Detection and Ranging), IMU (Inertial Measurement Units), Parking sensors, Proximity sensors, Vehicle Dynamics Control, Airbag Deployment sensors, Pedestrian Detection systems, and MEMS Sensors -(Micro-Electro-Mechanical Systems) empowers these systems. They enhance vehicle safety, navigation, and situational awareness. The integration of these cutting-edge sensor technologies underscores the industry's commitment to advancing automotive safety and autonomy, catering to evolving consumer preferences and stringent regulatory standards.
• Major Challenges - The automotive sensors market confronts a challenge in the form of elevated costs linked with ADAS technologies (Advanced Driver-Assistance Systems). Components like Gyroscopes, Accelerometers, Telematics, VX Communication (Vehicle-to-Everything), Fuel Level sensors, Mass Airflow sensors, Tire Pressure Monitoring sensors, EGR (Exhaust Gas Recirculation) Sensors, Lane Departure Warning systems, and Blind Spot Detection Sensors contribute to the expense. Implementing these intricate systems, vital for enhancing safety and performance, often increases production costs. Addressing the affordability and accessibility of these technologies remains significant for wider adoption and market sustainability.

 Market Segmentation

• Based on Vehicle Type, the market is classified into Passenger cars and Commercial vehicles. The market share growth by the passenger cars segment will be significant during the forecast period. Various sensors, e.g., radar, LiDAR, camera, and ultrasonics, are used in these systems. As the ADAS features in cars are becoming more prevalent, there is a growing need for sensors that will assist these systems. Furthermore, there is a growing demand for automotive sensors due to the increased acceptance of electric and hybrid vehicles.

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TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Vehicle Type

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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