Global Automotive Sensors Market is projected to reach US$ 44 Billion during the forecast period of 2023 to 2033

China’s automotive sensors market is anticipated to grow at 8.4% CAGR throughout the forecast period. By vehicle type, passenger cars are expected to grow with a CAGR of 9.4% during the forecast period. The market in the United States is projected to grow with a CAGR of 8.2% during the forecast period

/EIN News/ — NEWARK, Del, June 09, 2023 (GLOBE NEWSWIRE) — The global automotive sensors market is projected to attain a valuation of US$ 19.2 billion in 2023 and is estimated to reach US$ 44 billion by 2033, expected to incline at a CAGR of 8.6% during the forecast period.

In recent times, the global automotive sensors market has experienced significant growth. The increased adoption of alternative fuels and vehicles plays a crucial role in reducing consumer fuel costs and enhancing the energy security of nations, thereby driving market development. Moreover, the growing prevalence of alternative fuel vehicles is expected to further boost market growth throughout the assessment period. Additionally, the increasing integration of new systems and technologies in automobiles is anticipated to have a positive impact on the market’s advancement in the coming years.

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Modern vehicle restraint systems employ side airbag pressure sensors for passenger car safety. Integrated into the side doors, these sensors transmit digital crash signals to the central airbag unit. Moreover, the air pressure sensor enhances engine efficiency by precisely controlling spark advances in gasoline and diesel engines. Consequently, the market is poised for development as pressure sensors find increasing use in both engine and vehicle safety systems.

In the next few years, the autonomous capabilities of commercially available vehicles are expected to advance rapidly. This progress is driven by stricter regulations and safety tests, particularly for emergency brake assist, as well as a growing emphasis on vehicle safety. Developed countries already mandate functions such as cruise control and lane-keep assist on all vehicles, while regulations for blind-spot monitoring, especially in Europe, are gaining traction.

To enable features like adaptive cruise control, these vehicles rely on long-range radar sensors, along with approximately two medium-range backward-facing radar sensors for blind spot detection. Additionally, up to 12 ultrasonic sensors are necessary for functionalities such as parking assistance. As the demand for autonomous driving features continues to grow, the utilization of high-precision sensors is expected to rise accordingly.

Key Takeaways:

  • The United States automotive sensors market is expected to grow with a CAGR of 8.2% during the forecast period.
  • The demand for automotive sensors in India is expected to grow with a CAGR of 8.6% during the forecast period.
  • By vehicle type, passenger vehicles are projected to grow with a CAGR of 9.4% during the forecast period.
  • The market in China is expected to grow with a significant CAGR of 8.4% throughout the forecast period.

Increasing use of pressure sensors in the engine and vehicle safety systems is expected to drive market growth during the forecast period,” – comments an analyst at FMI.

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Competitive Landscape:

The market for automotive sensors is highly competitive, with numerous prominent industry players making substantial investments in increasing their manufacturing capabilities.

The key industry players are NXP Semiconductors N.V., TE Connectivity, Continental AG, Denso Corporation, Robert Bosch GmbH, Infineon Technologies AG, STMicroelectronics, Texas Instruments Incorporated, Allegro Microsystems, LLC, CTS Corporation, Elmos Semiconductor, Sensata Technologies.

Some recent developments in the automotive sensors market are:

  • In December 2022, Continental AG revealed its exclusive modules and sensors designed specifically for electromobility. The company showcased its Advanced Driver Assistance Systems (ADAS) integrated into the “CV3” SoC (System on Chip) family, which incorporates artificial intelligence (AI) technology from semiconductor startup Ambarella.
  • In November 2022, Infineon Technologies AG launched the XENSIV TLE4971 family as the newest addition to their current sensor series designed for automotive applications. These devices provide accurate magnetic current sensing by utilizing proprietary temperature and stress compensation techniques, eliminating the negative impacts of magnetic cores such as hysteresis or saturation effects.
  • In March 2022, CTS Corporation acquired TEWA Temperature Sensors SP. Zo.o. and its subsidiaries. This acquisition strengthens CTS’s temperature sensing platform and enhances its market presence in Europe.

More Valuable Insights Available:

Future Market Insights offers an unbiased analysis of the global Automotive sensors market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.

To understand opportunities in the automotive sensors market, the market is segmented on the basis of sensor type, vehicle type, sales channel, and region.

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Key Segments Profiled:

By Sensor Type:

  • Position Sensors
    • Clutch Position Sensors
    • Gear Position Sensors
    • Throttle Position Sensors
    • Crankshaft Position Sensors
    • Steering Angle Position Sensors
    • Camshaft Position Sensors
  • Safety Sensors
    • Seat Belt Sensors
    • Brake Switch Sensors
    • Door Switch Sensors
    • Blind Spot Detection
    • Night Vision Sensors
    • Light Sensors
    • Parking Sensors
    • Cruise Control
    • Impact Sensors
    • Anti-theft Sensors
  • Level Sensors
    • Fuel Level Sensors
    • Coolant Level Sensors
    • Oil Level Sensors
  • Oxygen Sensors
  • Pressure Sensors
    • Tire Pressure Sensors
    • EGR Pressure Sensors
    • Airflow Rate Sensors
  • Temperature Sensors
    • Engine Coolant Temperature Sensors
    • Rain/humidity Sensors
    • Oil/Fuel Temperature Sensors
    • Battery Temperature Sensors
    • Air Temperature Sensors
  • Speed Sensors
    • Wheel Speed Sensors
    • Speedometer

By Vehicle Type:

  • Passenger Cars
    • Compact
    • Midsize
    • Luxury
    • SUVs
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Sales Channel:

  • Original Equipment Manufacturers
  • Original Equipment Supplier Spare Parts
  • Independent Aftermarket

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

Table of Content (ToC):

1. Executive Summary | Automotive Sensors Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and Their Roles


   Mid-Level Participants (Traders/ Agents/ Brokers)

   Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyers

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

View the complete ToC of this Report here:

About the Automotive Division at Future Market Insights (FMI):

The automotive team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team briefly analyses key trends, including competitive landscape, profit margin, and research development efforts.

Explore Wide-ranging Coverage of FMI’s Automotive Landscape:

Automotive Cabin Air Quality Sensors Market Share:  Is anticipated to develop at a CAGR of 13.8% and reach US$ 1497.73 million by 2033.

ADAS Sensors Market Size: Is expected to boost sales at an impressive 14.1% CAGR over the forecast period, with the market valuation reaching US$ 43.2 Billion by 2030.

Electric Vehicle Sensor Market Demand: This is growing at an impressive 16.6% CAGR, and the market valuation is projected to reach US$ 37.1 Billion by 2032.

Automotive MEMS Sensor Market Growth: Is expected to register a CAGR of 15% by accumulating a market value of US$ 9.75 Billion by the end of the assessment period 2022 to 2032.

Aircraft Sensors Market Trends: Is anticipated to surpass a market valuation of US$ 13,211.0 million by 2033. 

Vehicle Electrification Market Size: Is anticipated to grow at a rate of 10.3% by the year 2032.

Automotive Smart Antenna Market Share:  Is anticipated to surpass a value of US$ 12.45 billion by 2032. The automotive smart antenna market is expected to increase at a CAGR of 14.5% during the forecast period.

Automotive Radar Market Demand: Is projected to grow at a robust CAGR of 13.20% between 2022 and 2032, totaling around US$ 15,803.3 Million by the end of 2032.

Automotive Fasteners Market Growth: Is projected to grow at a CAGR of 6% from 2022 to 2032. By 2032, the market is anticipated to reach US$ 47,174.7 Million.

Electronic Power Steering Market Outlook: Is set to expand at a 5.2% CAGR during the projection period to US$ 41,893.2 Million by 2032.

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

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