IMARC Group, a leading market research company, has recently releases report titled “Automotive Powertrain Sensors Market Report by Sensor Type, Powertrain Subsystem, Vehicle Type, Sales Channel, and Region 2023-2028” The study provides a detailed analysis of the industry, including the global automotive powertrain sensors market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the automotive powertrain sensors market?
The global automotive powertrain sensors market size reached US$ 18.43 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.57 Billion by 2028, exhibiting a growth rate (CAGR) of 6.20% during 2023-2028.
What are automotive powertrain sensors?
Automotive powertrain sensors are critical components within an automobile’s powertrain system, playing an essential role in monitoring and controlling various aspects of the vehicle’s performance. It is meticulously designed to measure parameters such as temperature, pressure, and speed, sending these signals to the vehicle’s control module to optimize performance, improve efficiency, and ensure safety. A vehicle’s powertrain encompasses the engine, transmission, and drivetrain, all of which significantly benefit from the enhanced precision and reliability of these sensors. The inclusion of powertrain sensors aids in diagnosing potential issues, preventing severe damage, and promoting seamless operations. As vehicles become increasingly complex and automation-oriented, the importance of these sensors in ensuring efficient vehicle functioning and fulfilling stringent emission norms is highly pronounced. As a result, automotive powertrain sensors are invaluable to the manufacturing, maintenance, and evolution of automobiles across the globe.
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What are the growth prospects and trends in the automotive powertrain sensors industry?
The global automotive powertrain sensors market is primarily driven by the increasing demand for higher vehicle efficiency and stricter emission standards. The introduction of more rigorous fuel economy standards and emission norms by governments of various nations has prompted automakers to integrate advanced sensors to comply with these regulations, representing another key factor supporting the market growth. Moreover, the shifting trend toward vehicle electrification, including the adoption of hybrid and electric vehicles (EVs), will further stimulate market growth due to the substantial sensor requirements of these powertrain systems. Another major contributing aspect is the rising penetration of advanced driver-assistance systems (ADAS) and autonomous vehicles, necessitating the use of sophisticated sensors for accurate real-time data collection and processing. In line with this, continuous advancements in sensor technology, including miniaturization and improved accuracy, coupled with declining prices, are further fueling the market growth.
Additionally, the advent of green, low-emission sensor technologies that align with the sustainability goals of automakers is setting a new direction for the future growth of the market for automotive powertrain sensors. These eco-friendly sensors not only cater to environmental concerns but also offer enhanced performance, accelerating product adoption rates in the industry. Furthermore, the development of connected cars and the Internet of Things (IoT) technologies that rely heavily on data collection and transmission has catalyzed the demand for high-performing sensors for effective communication and smooth operation. Other factors, including the implementation of stringent government regulations aimed at reducing the number of road accidents, rise in data-centric operations in the automotive industry, augmenting sales of high-performance vehicles, increasing automobile production, and ongoing research and development (R&D) in the field of sensor technology, are also propelling the market growth.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Sensor Type Insights:
- Temperature Sensors
- Position Sensors
- Exhaust Sensors
- Lambda/ Oxygen Sensors
- Nitrogen Sensors
- Soot Sensors
- Ammonia Sensors
- Knock Sensors
- Speed Sensors
- Torque Sensors
- Pressure Sensors
Powertrain Subsystem Insights:
- Engine Management Sensors
- Transmission Management Sensors
- Power Steering Sensors
Vehicle Type Insights:
- Internal Combustion Engines
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Electric Vehicles
- Battery Electric Vehicles
- Fuel Cell Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Hybrid Electric Vehicles
Sales channel Insights
- Original Equipment Manufacturer (OEMs)
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Amphenol Corporation
- BorgWarner Inc.
- Continental AG
- CTS Corporation
- DENSO Corporation
- HELLA GmbH & Co. KGaA (Faurecia SE)
- Infineon Technologies AG
- Mitsubishi Electric Corporation
- NXP Semiconductors N.V
- Renesas Electronics Corporation
- Robert Bosch GmbH
- TE Connectivity
- Texas Instruments Incorporated
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