Automotive Sensor Market Size, Share & Trends Analysis, By Type (Pressure Sensors, Speed Sensors), By Application (Powertrain, Chassis), By Sales Channel (Original Equipment Manufacturers), By Region and Segment, Forecast Period 2022 – 2030

Automotive sensor market size is projected to reach over USD 67.3 Billion by 2030, accounting for a CAGR of 6.6% during the forecast period (2022-2030) from the value of USD 40.4 Billion in 2022. 

Automotive sensors are intelligent sensors that allow manufacturers or service providers for processing multiple aspects such as the pressure of oil, level of emission, engine temperature, coolant levels, etc. Several types of sensors are used in automobiles like mass airflow sensors, oxygen sensors, engine speed sensors, spark knock sensors, manifold absolute pressure (MAF) sensors, coolant sensors, and others that monitor the function of respective components.

The sensors are referred to as the sensory functions of the vehicles which constitute the complete electronic control system. They are responsible for recording and converting the chemical or physical variables into electrical signals, which aids in making adjustments as per the requirement of driving circumstances.

Furthermore, the growing safety and technological standards of automobiles have resulted in the augmented usage of automotive sensors. Features such as electronic stability control, anti-lock braking system, parking, lane assistance and other utilize sensors such as position sensors, force, and torque sensors, and pressure sensors for overall control over each component.

Automotive Sensor Report Coverage:

Market Dynamics:

Driver:

The high technology integration in passenger and commercial vehicles in terms of Advanced Driver Assistance Systems (ADAS), Anti-Lock Braking Systems (ABS), and Electronic Brake force Distribution (EBD) augments the demand for automotive sensors for addressing applications. Such sensors serve multiple applications such as monitoring the vehicle engines, emissions, and fuel consumption, along with protecting the drivers and passengers. Thus, the surging adoption of autonomous vehicles among consumers is expected to accelerate market growth during the forecast period.

Restraint:

The expensive costs of development in terms of sensors result in the reduced manufacturing capacity of the production facilities. Additionally, the majority of business is dominated by the original equipment manufacturers (OEM) which leads to the provision of mostly technical specifications by tier suppliers. Thus, the decreased commercialization of LIDAR, RADAR, and proximity sensors via aftermarket channels is anticipated to hinder market growth during the forecast period.

Opportunity:

The rising emphasis on the production of autonomous vehicles is anticipated to create multiple opportunities for market growth in terms of growing security concerns. Advanced technology integration within the vehicle chassis leads to the responsibility for guaranteeing the security-by-design aspect through a complete network of sensors. Thus, the growing expenditures by OEMs for introducing technological advancements in autonomous cars are expected to augment the adoption of sensors for effective monitoring of such advancements.

COVID-19 Impact:

The automotive sensor market witnessed a substantial decline during the initial phases of the COVID-19 pandemic in terms of reduced manufacturing activities and government lockdown impositions. The major automotive industry experienced an economic slowdown due to the low vehicle sales in the first quarter of 2020 due to rising unemployment and constricted availability of automobiles owing to the disrupted supply chains. However, the situation has improved post COVID-19 pandemic and it has resulted in a sudden increase in the production volume of major passenger vehicles. Thus, the overall market growth witnessed an augmented demand among manufacturers due to large consumer demand for safe and technologically advanced vehicles.

Market Segmentation:

By Type

The type segment is separated into pressure sensors, speed sensors, temperature sensors, gas sensors, and motion sensors. The speed sensors segment is expected to witness the largest usage in terms of volume during the forecast period. The increased production of performance cars has resulted in the high demand for speed sensors for overseeing rotational movements and controlled fuel injection and engine timing. Thus, the major dependence on speed sensors in terms of monitoring the rotating speed of crankshafts, wheels, and fuel injection is estimated to augment the market growth during the forecast period. Additionally, gas sensors also support the growth of the Automotive Sensor market statistics in terms of the largest CAGR growth contribution in 2021. Gas sensors play a crucial role in detecting the toxic and harmful gas in the fresh air supply via oxygen sensors. In terms of toxic gas, gas sensors are majorly utilized to measure the level of nitrogen monoxide, hydrogen, and carbon monoxide concentrations in exhaust gases.

By Application

The application segment is separated into powertrain, safety & security, chassis, body electronics, and telematics. The powertrain application is projected to contribute the largest revenue share to the market growth. The major usage of automotive sensors is implemented into the powertrain aspect of the car as it creates the power from the engine and transmits the generated power to the wheels of the vehicle. Thus, the manufacturers emphasize the integration of the powertrain sensors that improve the drivability and performance via closed-loop operation. The major role of such sensors is to the operational processes that aid in communicating the sensing information essential for transmission control and engine management. Furthermore, the safety & security segment is also projected to support the industry growth in terms of revenue. Automobile safety standards have improved at a fast pace especially due to the strict government regulations in terms of passenger safety. The sensors detect the movements and steering corrections for determining the attention of the driver which aids in the activation of alarms during emergencies.

By Sales Channel

The sales channel is segmented into the original equipment manufacturers, independent aftermarkets, and original equipment supplier spare parts. The original equipment manufacturers segment is anticipated to comprise a major automotive sensor market share due to the complete control over the allocation of such sensors during the production of vehicles. OEMs are responsible for the comfortable, safe, and economic operation of the vehicles by mandating resilient and reliable sensors for features such as automatic speed control, vehicle location tracking, and clear surrounding visuals. Furthermore, the original equipment supplier spare parts segment is also estimated to witness a substantial increase during the forecast period owing to the favorable consumer approach to vehicle customizations. The large presence of car enthusiasts around the world opts for personalized customizations to their cars by utilizing the original equipment supplier spare parts. Thus, the growing knowledge of automotive sensors and components especially among car enthusiasts is expected to create opportunities for market growth during the forecast period.

By Region

The regional segment comprises of Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa. In the context of the region, Asia Pacific is estimated to expand the market trends during the projected period. The large presence of market players coupled with the low-cost manufacturing of the components in terms of labor and raw material boost the market growth, especially in India and China. Also, the rising purchasing power among consumers allows OEMs to produce feature-rich vehicles, further augmenting the market statistics in the Asia Pacific region.

North America is also anticipated to provide a growth opportunity for the expansion of the market presence across the region. The rising need for improvements in the existing car models in terms of safety and driver assistance has resulted in a large demand for sensors by OEMs located across North America. Thus, the increased popularity of vehicle automation significantly augments the market growth due to the rising manufacturing of quality commercial and passenger vehicles.  

Automotive Sensor Market Competitive Landscape:

The research report published on the automotive sensor market provides an in-detailed analysis of the market position. Major indicators are considered to evaluate the value chain of businesses that comprise the market consolidation such as mergers and acquisitions, new product launches, and improved expenditures on research and development of the integrated technical components. Thus, there is a scope for exploring the untapped areas of innovations such as rising technological standards of the vehicles coupled with the availability of large consumer data in terms of safety aspects. Following are the key industry conglomerates that constitute the market presence–

• Robert Bosch
• Continental AG
• DENSO Corporation
• AUTOLIV INC
• Valeo
• Sensata Technologies
• Delphi Automotive Company
• STMicroelectronics N.V
• NXP Semiconductor
• Infineon Technologies AG

Recent Developments

• In June 2020, the American semiconductor manufacturing firm named OMNIVISION launches the world’s first image sensor that aids in the manufacturing of automotive viewing cameras. The camera comes with a large sized 3.0-micron pixel which is combined with a high dynamic range (HDR) of over 140 dB and leading LED flicker mitigation performance (LFM).
• In April 2021, the leading Japanese car manufacturer, Honda, introduced the latest advanced driver-assistance system (ADAS) called “Honda Sensing Elite”. The ADAS is exclusively available for a special range of vehicles in Japan which has SAE level 3 autonomous capabilities like the traffic jam pilot module.
• In October 2021, Infineon Technologies AG announced the launch of an automotive current sensor called XENSIV TLE4972. The Hall technology of Infineon is used in the coreless current sensor for accurate and constant current measurements.

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