Redding, California - July 30, 2024
Automotive Powertrain Sensors Market to be Worth $34.8 Billion by 2031
Automotive Powertrain Sensors Market by Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), and Vehicle Type (ICE, HV, EV) - Global Forecast to 2031
Meticulous Research®—a leading global market research company, published a research report titled ‘Automotive Powertrain Sensors Market by Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), and Vehicle Type (ICE, HV, EV) - Global Forecast to 2031.’
According to this latest publication from Meticulous Research®, the automotive powertrain sensors market is projected to reach $34.8 billion by 2031, at a CAGR of 8.1% from 2024 to 2031. In terms of volume, the automotive powertrain sensors market is projected to reach 7.5 billion units by 2031, at a CAGR of 7.8% during the forecast period.
The growth of this market is driven by the increasing demand for sensors in hybrid powertrains, growing awareness about fuel economy, and increasing purchases of mid-sized cars in developing nations. However, the high development cost of automotive sensors and the complexities of sensor integration restrain the growth of this market.
Furthermore, the growing concerns about the carbon footprint of vehicles and stringent emission regulations are expected to create market growth opportunities during the forecast period. However, the lack of harmonization in system integration is a major challenge for the players in this market.
Additionally, the increasing deployment of compact engines and the growing adoption of shared mobility are key trends in the automotive powertrain sensors market.
The automotive powertrain sensors market is segmented by type {exhaust sensors (lambda/oxygen sensors, nitrogen sensors, soot sensors, and ammonia sensors), position sensors (inductive sensors, magnetic sensors, and capacitive sensors), temperature sensors (thermocouples, thermistors, and silicon sensors), fluid concentration sensors, current sensors, voltage sensors, knock sensors, speed sensors, torque sensors, pressure sensors, and other sensors}, powertrain subsystem {engine management sensors, power steering sensors, and transmission management sensors}, vehicle type {internal combustion engine vehicles (passenger vehicles, heavy commercial vehicles, and light commercial vehicles), hybrid vehicles (hybrid electric vehicles and plug-in hybrid electric vehicles), electric vehicles (battery electric vehicles and fuel cell electric vehicles), and other vehicles}, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the global automotive powertrain sensors market is segmented into temperature sensors, position sensors, exhaust sensors, pressure sensors, fluid concentration sensors, knock sensors, speed sensors, torque sensors, current sensors, voltage sensors, and other sensors. In 2024, the exhaust sensors segment is expected to account for the largest share of over 39.0% of the automotive powertrain sensors market. The large market share of this segment is mainly attributed to increasingly stringent government regulations mandating higher fuel efficiency, fewer exhaust emissions, and the use of exhaust gas regeneration technology. These sensors are critical for closely monitoring real-traffic emissions and the impact of after-treatment systems.
Additionally, the exhaust sensors segment is projected to register the highest CAGR during the forecast period.
Based on powertrain subsystems, the global automotive powertrain sensors market is segmented into engine management sensors, power steering sensors, and transmission management sensors. In 2024, the engine management sensors segment is expected to account for the largest share of over 66.0% of the automotive powertrain sensors market. This segment’s large market share is attributed to stringent emission regulations to reduce gas emissions, the rising requirement for fuel economy, improved combustion cycle, and improved engine control for a better driving experience.
However, the transmission management sensors segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the increased adoption of hybrid electric vehicles and plug-in hybrid electric vehicles requiring multiple sensors to measure torque, the position of gears, and power delivery. Moreover, the implementation of technologies, such as continuously variable transmission, multi-gear automatic transmission, dual-clutch transmission, and regenerative braking, have led to powertrain designs that involve higher internal pressures, greater instantaneous forces, increased electronic signatures, and more complex designs and mechanical operation which support the high growth of this segment.
Based on vehicle type, the global automotive powertrain sensors market is segmented into internal combustion engine vehicles, hybrid vehicles, electric vehicles, and other vehicles. In 2024, the internal combustion engine vehicles segment is expected to account for the largest share of over 77.0% of the automotive powertrain sensors market. This segment’s large market share is attributed to the rising requirement for fuel economy in ICE vehicles, stringent emission norms to reduce greenhouse gas emissions, and dominance of ICE powertrains in developing economies such as India, Southeast Asia, Latin America, and a major part of the Middle East & Africa.
However, the electric vehicles segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rapid adoption of hybrid electric powertrains for optimizing the use of combustion engines for low-speed cruising, stringent emission norms in Europe and the U.S., and innovations in battery technology production.
Based on geography, the global automotive powertrain sensors market is segmented into Asia-Pacific, Europe, North America, Latin America, and Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 52.0% of the automotive powertrain sensors market, followed by Europe, North America, Latin America, and Middle East & Africa. The large share of this regional market is mainly attributed to the high production level of automobiles in the region driven by huge demand from China, India, and Japan, the upgradation of powertrain systems due to rising consumer awareness regarding the environmental effects of automotive emissions and increasing infrastructural developments in the region. Moreover, due to the presence of some of the fastest-growing economies of the world, such as India, China, Indonesia, and Thailand, the purchasing power of consumers in this region is high, propelling the demand for automobiles from this region. Also, China is expected to lead global automotive production during the forecast period, which is expected to drive a large share of this region during the forecast period.
However, Latin America is slated to register the highest CAGR of 7.5% during the forecast period. The high growth of automotive powertrain sensors in Latin America is majorly attributed to the presence of fast-growing economies, such as Brazil and Argentina, and the growing adoption of torque sensors in electric power steering systems. Moreover, government support for adopting fuel-efficient powertrain sensors is further driving the growth of this regional market.
Key Players:
The key players operating in the global automotive powertrain sensors market are Texas Instruments (U.S.), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Infineon Technologies (Germany), NXP Semiconductor (Netherlands), HELLA GmbH & Co. (Germany), Valeo (France), CTS Corporation (U.S.), Renesas Electronics Corporation (Japan), ZF Friedrichshafen AG (Germany), Delphi Technologies (U.K.), PCB Piezotronics Inc. (U.S.)., STMicroelectronics N.V. (Switzerland), and TE Connectivity (Switzerland).
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5155
Key Questions Answered in the Report:
- Which are the high-growth market segments based on type, powertrain subsystems, vehicle type, and geography?
- What was the historical market size for the automotive powertrain sensors market?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the automotive powertrain sensors market?
- Who are the major players in the automotive powertrain sensors market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the automotive powertrain sensors market?
- What are the growth strategies adopted by major market players?
- What are the key market trends, and which are the high-growth countries?
- Who are the local emerging players in the automotive powertrain sensors market, and how do they compete with the other players?
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
