Press release
Automotive Temperature Sensor Market Set to Reach $13.07 Billion by 2029 with 7.5% Yearly Growth
Automotive Temperature Sensor Market Size
The anticipated rise in the widespread use of self-driving cars is projected to spur the advancement of the automotive temperature sensor market. Autonomous vehicles, which are essentially motor vehicles that run without human effort, employ temperature sensors to monitor their engine temperatures, activating cooling fans as and when needed to maintain an ideal engine temperature. As a result, the vehicle's performance is enhanced. For example, a report from the US's Insurance Institute for Highway Safety, a non-profit organization, in December 2022 predicts about 3.5 million self-driving cars on US roads by 2025, and a further rise to 4.5 million by 2030. Consequently, this predicted surge in the use of self-driving cars is fueling the growth of the automotive temperature sensor market.
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What is the projected compound annual growth rate (CAGR) of the automotive temperature sensor market from 2025 to 2034, and what factors influence it?
In recent times, there's been a consistent augmentation in the market size of the automotive temperature sensor, which is projected to be amplified from $9.47 billion in 2024 to $9.78 billion in 2025, marking a compound annual growth rate (CAGR) of 3.3%. This upward trend during the historic period is predominantly due to numerous factors including the escalated usage of electronic constituents in vehicles, increased emphasis on cutting down energy consumption and emissions, advancements in the sphere of automotive safety regulations, growing consumer inclination towards comfort and convenience features along with the proliferation of the electric vehicle market.
In the coming years, the automotive temperature sensor market is predicted to experience significant growth, reaching $13.07 billion in 2029 with a compound annual growth rate (CAGR) of 7.5%. The expansion during this forecast period can be attributed to the integration of temperature sensors in self-driving vehicles, a booming demand for electric and hybrid vehicles, focus on interior comfort and climate control systems, increasing implementation of advanced driver assistance systems (ADAS), along with the growth of internet of things (IoT) in automotive applications. In the forecast span, a few key trends include the downsizing of temperature sensor components, a shift towards micro-electro-mechanical systems (mems) technology, the creation of intelligent temperature sensing solutions, and a rise in the usage of temperature sensors for powertrain management, alongside the integration of temperature monitoring in connected car platforms.
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How are the latest trends influencing the growth of the automotive temperature sensor market?
Quick technological progress is a significant trend becoming more and more prominent in the automotive temperature sensor market. The bulk of the firms participating in the automotive temperature sensor industry are keen on propelling technology forward to dominate the market. For example, in May 2022, Continental, an automotive components manufacturer based in Germany, introduced two innovative sensors, the Current Sensor Module (CSM) and the Battery Impact Detection (BID) system, designed for electrified vehicles. The CSM unifies shunt and hall technologies into a dual-channel sensor that can measure temperature ranging between -40 °C and 125 °C.
What are the major segments of the automotive temperature sensor market and their role in driving growth?
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
Subsegments:
1) By Thermistor: NTC (Negative Temperature Coefficient) Thermistors, PTC (Positive Temperature Coefficient) Thermistors
2) By Resistance Temperature Detector (RTD): Thin Film RTDs, Wire-Wound RTDs
3) By Thermocouple: Type K Thermocouples, Type J Thermocouples, Type T Thermocouples, Type E Thermocouples
4) By IC Temperature Sensor: Analog IC Temperature Sensors, Digital IC Temperature Sensors
5) By MEMS Temperature Sensor: Integrated MEMS Sensors, Standalone MEMS Sensors
6) By Infrared Sensor: Non-Contact Infrared Sensors, Pyroelectric Infrared Sensors
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Which regions are key players in the growth of the automotive temperature sensor market?
Asia-Pacific was the largest region in the automotive temperature sensor market in 2024.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
Who are the key firms paving the way for growth in the automotive temperature sensor market?
Major companies operating in the automotive temperature sensor market include 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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What Is Covered In The Automotive Temperature Sensor Global Market Report?
•Market Size Forecast: Examine the automotive temperature sensor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive temperature sensor market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive temperature sensor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive temperature sensor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive temperature sensor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive temperature sensor market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive temperature sensor market.
•Competitive Landscape: Review strategic developments in the automotive temperature sensor market, including expansions, agreements, and new product launches.
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