Automotive Temperature Sensor Market is expected to grow at a CAGR of 6.06% through 2029
Increasing Vehicle Production and Stringent Emission
Regulations are factors driving the Global Automotive Temperature Sensor Market in the forecast period 2025-2029.
According to TechSci Research report, “Automotive Temperature Sensor
Market - Global Industry Size, Share, Trends, Opportunity, and Forecast
2019-2029”, the Global Automotive Temperature Sensor Market is expected to
register robust growth during the forecast period. Government
organizations in many countries are implementing safety and emission control
standards that mandate the installation of sensors. Automotive companies are
thereby required to comply with these safety and emission control regulations
set by these authorities. This trend is expected to increase the demand for
automotive temperature sensors over the forecast period.
In line with this trend, companies such
as MS Motorservice International GmbH, launched aftermarket exhaust
gas temperature sensors that feature temperature resistance in the range from -
40° to + 1,000°C and exceptional accuracy. These sensors monitor the hot
exhaust gas flow and protect temperature-sensitive components, like
turbochargers from overheating. In the case of critical overheating, the
control unit responds with suitable actions to reduce the temperature, for
example, reducing the performance. Moreover, the growing automotive HVAC
market, which is facilitating the broader adoption of temperature sensors, is
one of the major trends contributing to the growth of the automotive
temperature sensor market. Temperature sensors are the most commonly used
sensors for HVAC as they can monitor ambient conditions inside a car. Along
with the aforementioned factors, increasing adoption of electric vehicles is
also favoring the market growth over the forecast period as these vehicles also
require temperature monitoring. Companies such as Sensor Scientific Inc. is
developing thermistor temperature sensors for electric cars.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global Automotive
Temperature Sensor Market.”
Based on Vehicle Type, The Passenger Type segment
emerged as the dominating segment in 2023, As the
purchasing power of millennials rises, there's a surge in demand for passenger
cars, driving global automotive sales. According to OICA, 70.5 million
passenger cars were manufactured worldwide in 2018. The popularity of Utility
Vehicles, like SUVs and MPVs, is increasing due to their elevated ride
positions, adaptable interior spaces, and enhanced fuel efficiency.
Consequently, the rising demand for passenger cars is expected to fuel the need
for temperature sensors in the foreseeable future. Given stringent emission
regulations and considerations of safety and comfort, temperature sensors play
a crucial role in passenger cars. They serve various purposes, with primary
applications in powertrain and HVAC systems, followed by body electronics and
alternative fuel systems.
Based on Region, Asia Pacific is
projected to dominate the market throughout the forecast period. The growth of
the Asia-Pacific market is driven by the burgeoning automotive industry in
countries like China and India. To meet rising demands, automotive
manufacturers are heavily investing in various segments, spurring the adoption
of temperature sensors in the region. For example, Mercedes Benz expanded its
Chakan Plant capacity to 20,000 units annually, a record for luxury car
manufacturing in India. Moreover, the electric vehicle market is flourishing,
particularly in China, aided by subsidies and incentives. China retained its
position as the world's largest electric car market in 2018, followed by Europe
and the United States. In 2018, Honda Motors Company established its third
factory in India, emphasizing hybrid and electric vehicle production. These
trends are poised to further influence the growth of the automotive temperature
sensor market in the region.
Key market players in the Global Automotive
Temperature Sensor Market are: -
- NXP
Semiconductors N.V.
- Sensata
Technologies Inc.
- American
Phenolic Corp.
- Robert
Bosch GmbH
- Continental
AG
- Texas
Instruments Inc.
- TE
Connectivity Ltd
- Panasonic
Corporation
- Murata
Manufacturing Co. Ltd.
-
TDK
Corporation
Download Sample
Report
Customers can
also request for 10% free customization on this report.
“The global automotive temperature
sensor market is propelled by several key drivers that contribute to its growth
and innovation. Firstly, the steady increase in global vehicle production fuels
the demand for temperature sensors, as these play a critical role in optimizing
engine performance and enhancing overall vehicle efficiency. Stringent emission
regulations worldwide drive the adoption of advanced engine management systems,
where temperature sensors assist in compliance and emission control. The rising
demand for electric vehicles (EVs) is another significant driver, as
temperature sensors become essential for monitoring and managing the thermal
conditions of batteries and electric components. Ongoing technological
advancements in automotive systems, including autonomous vehicles and connected
cars, increase the complexity of vehicle architectures, further boosting the
demand for temperature sensors. Additionally, the industry's focus on fuel
efficiency, engine optimization, and the globalization of automotive supply
chains contribute to the widespread integration of temperature sensors.
Overall, these drivers collectively fuel the growth of the global automotive
temperature sensor market, making these sensors indispensable components in
modern vehicles.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Automotive Temperature Sensor Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Vehicle
Type (Passenger Cars, Commercial Vehicles), Application (Powertrain, Body
Electronics, Alternative Fuel Vehicles, Others), By Region, and By Competition 2019-2029” provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Automotive
Temperature Sensor Market.
Contact
TechSci Research LLC
420 Lexington Avenue,
Suite 300, New York,
United States- 10170
M: +13322586602
Email: [email protected]
Website: https://www.techsciresearch.com