Global Electric Vehicle Sensors market is expected to grow at a CAGR of 12% during 2021-2026

According to the MarkNtel Advisors’ research report, “Global Electric Vehicle Sensors Market Analysis, 2021,” the market shall grow at a CAGR of 12% during 2021-26. The market growth attributes to the surging demand for premium cars offering advanced features with the help of sensors. In addition to this, stringent government rules regarding emission control and automobile safety further fuel the demand for electric vehicles, which, in turn, boost the growth of the electric vehicle sensors market.

Moreover, the sales of Electric Vehicles (EVs) have significantly surged in the past few years due to their economic, environmental, and energy benefits over conventional fuel vehicles. Besides, the drop in the prices of sensors is another crucial factor accelerating the growth of the Electric Vehicle Sensors Market across the globe.

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Key questions answered in the study
1. What are the current and future trends in the Global Electric Vehicle Sensors market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the countries, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Global Electric Vehicle Sensors market?
5. What is the customer orientation, purchase behavior, and expectations from the Global Electric Vehicle Sensors market service providers across various regions?

Commercial Vehicle Exhibits Fastest Growth
Based on the Type of Vehicle, the market bifurcates into Two-Wheeler Vehicles, Passenger Cars, and Commercial Vehicles. Out of these, the Commercial Vehicle segment is likely to grow considerably during the forecast period. The segment growth is due to the expansion of the mining and construction sector across the world. Further, surging investments by the truck fleet owners and operators to enhance their fleet performance, improve fuel efficiency, and drive comfort, results in the increased demand for electric vehicle sensors. Therefore, burgeoning sales of commercial vehicles shall positively influence the growth of the Electric Vehicle Sensors market during the forecast period.

“Global Electric Vehicle Sensors Market Analysis, 2021” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Electric Vehicle Sensors providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.

For detailed analysis: https://www.marknteladvisors.com/research-library/global-electric-vehicle-sensors-market.html

Proximity Sensors Shows Significant Growth
Based on Type, the market classifies into Temperature Sensors, Current/Voltage Sensors, Engine-Based Sensors, Proximity Sensors, Pressure Sensors, Position Sensors, Inertial Sensors, and Speed Sensors. The proximity Sensors segment is likely to grow substantially in the Global Electric Vehicle Sensors market during 2021-26.

Proximity sensors help detect nearby objects without any physical contact, and hence, they are beneficial for parking assistance and other safety purposes. Additionally, these sensors give alert signals to drivers as the vehicle gets closer to the object. Therefore, the Proximity Sensors segment is likely to contribute to the market growth in the forecast period, reveals MarkNtel Advisors in their research report, “Global Electric Vehicle Sensors Market Analysis, 2021.”

According to MarkNtel Advisors, the major leading players in the Global Electric Vehicle Sensors Market are Denso, Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, LEM, Kohshin Electric Corporation, Vishay Intertechnology, Inc, Allegro MicroSystems, Amphenol Advanced Sensors, Ams AG, Analog Devices, Melexis, Sensata Technologies, and STMicroelectronics.

Market Segmentation:
1. By Type (Temperature Sensors, Current/Voltage Sensors, Engine-Based Sensors, Proximity Sensors, Pressure Sensors, Position Sensors, Inertial Sensors, Speed Sensors, Others (Cabin Sensors, etc.))By Application (Battery Electric Vehicle (BEV), Hybrid-Electric Vehicle (HEV), Plug-In Hybrid Electric Vehicle (PHEV))
2. By Vehicle Type (Two-Wheeler Vehicles, Passenger Cars, Commercial Vehicles)
3. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
4. By Country (U.S, Canada, Brazil, Mexico, Germany, France, The U.K, Spain, Italy, China, India, Japan, Australia, South Korea, UAE, Saudi Arabia, South Africa)
5. By Competitors (Denso, Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, LEM, Kohshin Electric Corporation, Vishay Intertechnology, Inc, Allegro MicroSystems, Amphenol Advanced Sensors, Ams AG, Analog Devices, Melexis, Sensata Technologies, STMicroelectronics)

MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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This release was published on openPR.