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Automotive Temperature Sensor Market Share, Growth Trends, Analysis And Forecast 2024-2033
Automotive Temperature Sensor Market Share
Automotive Temperature Sensor Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $12.02 billion In 2028 At A CAGR Of 5.5% :
The automotive temperature sensor market size has grown steadily in recent years. It will grow from $9.28 billion in 2023 to $9.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to increased adoption of electronic components in vehicles, growing focus on energy efficiency and emission reduction, advancements in automotive safety regulations, rise in consumer demand for comfort and convenience features, expansion of the electric vehicle market.
The automotive temperature sensor market size is expected to see strong growth in the next few years. It will grow to $12.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to integration of temperature sensors in autonomous vehicles, surge in demand for electric and hybrid vehicles, emphasis on in-cabin comfort and climate control systems, growing implementation of advanced driver assistance systems (adas), expansion of the internet of things (iot) in automotive applications. Major trends in the forecast period include miniaturization of temperature sensor components, shift towards mems (micro-electro-mechanical systems) technology, development of smart temperature sensing solutions, increasing use of temperature sensors in powertrain management, integration of temperature monitoring in connected car platforms.
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Automotive Temperature Sensor Market Major Segments
The automotive temperature sensor market covered in this report is segmented -
1) By Product Type: Thermistor, Resistance Temperature Detector, Thermocouple, IC Temperature Sensor, Mems Temperature Sensor, Infrared Sensor
2) By Technology: Contact, Non-Contact
3) By Usage: Gas, Liquid, Air
4) By Vehicle: Passenger Cars, Commercial Vehicle
5) By Application: Engine, Transmission, HVAC, Exhaust, Thermal Seats
Key Driver - Autonomous Vehicle Proliferation Fuels Automotive Temperature Sensor Market Growth
An increase in the prevalence of autonomous vehicles is expected to propel the growth of the automotive temperature sensor market going forward. An autonomous vehicle refers to a motor vehicle that operates without the support of human effort to drive on the road. Automatic vehicles use temperature sensors to keep a measure of vehicle engine temperatures and accordingly switch on the cooling fans to maintain an optimally required engine temperature. This helps to increase the vehicle's performance. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there are projected to be 3.5 million autonomous vehicles on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the increase in the prevalence of autonomous vehicles is driving the automotive temperature sensor market growth.
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Prominent Trend - Technological Advancements Driving Growth In The Automotive Temperature Sensor Market
Rapid advancements in technology have emerged as a key trend gaining popularity in the automotive temperature sensor market. Major companies operating in the automotive temperature sensor sector are focused on technological advancements to lead the market. For instance, in May 2022, Continental, a Germany-based automotive parts manufacturing company, launched two new sensors, the Current Sensor Module (CSM) and the Battery Impact Detection (BID) system, for electrified vehicles. The CSM is a two-channel sensor that measures by integrating shunt technology and hall technology into a single unit. The CSM measures temperature in the range between -40 °C and 125 °C.
Automotive Temperature Sensor Market Players
Major companies operating in the automotive temperature sensor market report are Continental AG, Panasonic Holdings Corporation, Sensata Technologies Holding plc, NXP Semiconductors NV, Analog Devices Inc., Microchip Technology Inc., TE Connectivity Ltd., Rohm Semiconductor, Murata Manufacturing Co Ltd, ZF Friedrichshafen AG, Amphenol Corporation, Denso Corporation, Locon Sensor Systems Inc, MTI Industrial Sensors, Temperature Specialists Inc, Robert Bosch GmbH, Texas Instruments Incorporated, Siemens AG, Honeywell International Inc., Asea Brown Boveri Ltd., Endress+Hauser Management AG, Maxim Integrated, Emerson Electric Co., Tokyo Denki Kagaku Corporation, Infineon Technologies AG, Kongsberg Gruppen, Delphi Technologies, Automotive Electronics Council (AEC), Semiconductor Components Industries LLC, Melexis NV
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive temperature sensor market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive temperature sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Temperature Sensor Market Report Structure
3. Automotive Temperature Sensor Market Trends And Strategies
4. Automotive Temperature Sensor Market - Macro Economic Scenario
5. Automotive Temperature Sensor Market Size And Growth
…..
27. Automotive Temperature Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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