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
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Demand Outlook
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.
Cost Drivers
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.
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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
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