The global automotive sensor market was valued at ~USD 25-30 billion in 2020 and it is expected to grow at a CAGR of 7-10% from 2020 to 2027. The increasing adoption of hybrid electric vehicles has increased the demand for various automotive sensors such as current sensors, temperature sensors, cell voltage sensors, and other components for battery management systems. APAC is the largest geographic segment in the global automotive sensor market with more than 50% revenue share in 2020. The growth in APAC is driven by the growing adoption of electric vehicles in China, South Korea, and Japan. Favorable government policies regarding the use of electric vehicles have propelled market potential for automotive sensor makers in the region. For instance, in January 2021, South Korea approved an electric vehicle subsidy budget of USD891.7 million for 2021. EV cars with a price range of less than USD53,000 will be fully subsidized.
Read report summary or request a free sample copy of the report “Automotive Sensors Industry Procurement Intelligence, Supplier Intelligence, Supplier Ranking, Pricing & Cost Structure Intelligence, Best Practices, Engagement Model, Low & Best Cost Country, Day One Analysis Report, 2020 – 2027”
An automotive sensor is a device that monitors the condition and keeps track of almost everything happening in and outside a vehicle, allowing the onboard computers to make decisions. These decisions help to improve engine performance, reduce emissions, improve safety, etc. Following are the most commonly used sensors across different vehicles:
- Mass airflow sensor
- Engine speed sensor
- Oxygen sensor
- Spark knock sensor
- Coolant sensor
- Manifold absolute pressure (MAF) sensor
- Fuel temperature sensor
- Voltage sensor
- Camshaft position sensor
- Throttle position sensor
- Vehicle speed sensor
Raw material cost is the major cost driver of automotive sensor manufacturing. It accounted for more than one-third of the overall cost of production. Thermoplastics like PET (Polyethylene terephthalate), PBT (Polybutylene terephthalate), ceramics are widely used raw materials for automotive sensors. Other major costs include facility costs, machinery costs, labor costs, etc.
Find more research reports by Grand View Research:
- Turbine Repair and Maintenance Industry Procurement Intelligence : The global turbine repair and maintenance market was estimated at USD 81.8 billion in 2020 and the market is projected to grow at a CAGR of 15.9%. While most of the markets suffered impacts (positive or negative) due to the outbreak of the COVID pandemic.
- Vegetable Fats and the Oil Industry Procurement Intelligence : The global vegetable fats and the oil market was valued at ~USD 235 billion in 2020 and it is expected to grow at a CAGR of 4% from 2020 to 2027.
- Wastewater Treatment Industry Procurement Intelligence : The global wastewater treatment market was valued at ~USD 260 billion in 2020 and it is expected to grow at a CAGR of 6.5% from 2020 to 2027.
The COVID-19 pandemics negatively affected the global automotive sensor industry. It resulted in disruptions in the export of Chinese parts, large-scale manufacturing interruptions across Europe, and closure of assembly plants in the U.S. More than 2.5 million passenger cars were removed from the production schedule due to large-scale industrial lockdowns across North America and Europe. Reduced vehicle production directly translates to a significant drop in demand for automotive sensors. Moreover, the lack of aftermarket sensors is considered as one of the key constraints in the developing market during the forecast period.
Leading suppliers of automotive sensors are:
- Analog Devices, Inc.
- Denso Corporation
- Robert Bosch
- Sensata Technologies, Inc.
- Asahi Kasei Corporation
- Freescale Semiconducto
- Maxim Integrated
- Infineon Technologies AG
- Measurement Specialties
- Tekscan, Inc.
- Texas Instruments Incorporated
- GE Measurement and Control Solutions
The global automotive sensor industry features a moderately consolidated landscape with leading players contributing around 55% of the market share. Industry leaders are strengthening their presence through multiple mergers and acquisitions.
Check out the featured Add-on Services offered with Automotive Sensors Industry Procurement Intelligence Report.
