Press release
Primary Catalyst Driving Electric Vehicle (EV) Sensor Market Evolution in 2025: Surging Demand For Electric Vehicles Fuels Growth In The EV Sensors Market Driver
Electric Vehicle (EV) Sensor Market
The growth of the electronic vehicle (EV) sensors market is being fueled by a rise in the demand for electric vehicles. Electric vehicles, which can be entirely or partially powered by electricity, utilize EV sensors to monitor real-time signals and manage various in-vehicle functionalities like ignition timing and speed control. These sensors also help curtail gasoline prices, decrease carbon emissions, and boost energy security. For instance, a report from the US Department of Energy in January 2023 stated that the monthly sales of new plug-in electric cars, otherwise known as all-electric vehicles and plug-in hybrid electric vehicles, hit 7.4%, surpassing 7% for the first time in September 2022. 1.2% of these sales were plug-in hybrid electric vehicles. As such, the increasing demand for electric vehicles is accelerating the advancement of the electronic vehicle (EV) sensors market.
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How will the growth rate of the electric vehicle (ev) sensor market shape industry trends by 2034?
In the past few years, the market size for electric vehicle (EV) sensors has seen swift expansion. It is projected to increase from $9.31 billion in 2024 to $10.49 billion in 2025, with a compound annual growth rate (CAGR) of 12.7%. Factors such as government incentives, environmental regulations, advancements in battery technology, consumer demand, enhancements in supply chain, and infrastructure development have contributed to the growth in the historical period.
In the coming years, the electric vehicle (EV) sensor market is anticipated to witness a rapid surge in its size. It is projected to expand to a massive $16.79 billion by 2029 with a compound annual growth rate (CAGR) of 12.5%. Such growth during the forecast period is believed to be driven by factors such as expansion of the EV market, advancements in autonomous driving, evolution of battery technology, and partnerships and collaborations. Key trends projected for the forecast period include mounting rates of EV adoption, the rise in autonomous driving features, refinement of battery management systems, stricter emission standards, and a heightened focus on vehicle safety.
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What trends are poised to drive the future success of the electric vehicle (ev) sensor market?
One of the primary trends that's witnessing a surge in the EV sensors market is product innovation. Top contenders in this market are leveraging cutting-edge technology through rigorous research and development efforts to fortify their standing in the industry. For instance, Continental, an automobile corporation based in Germany, unveiled its current Sensor Module (CSM) and battery impact detection (BID) system for electrified vehicles in May 2022, thereby extending their expansive sensor lineup. These new sensors are poised to make significant improvements in battery safety and characteristics. Furthermore, in June 2022, U.S. semiconductor manufacturer, Microchip Technology Inc, launched The LX34070 IC, a novel inductive position sensor for the electric vehicle motor control sector. The sensor offers advanced features such as differential outputs and quick sample rates, making it compliant with ISO 26262 at Automotive Safety Integrity Level-C (ASIL-C) level.
Which primary segments of the electric vehicle (ev) sensor market are driving growth and industry transformations?
The electric vehicle (EV) sensor market covered in this report is segmented -
1) By Product Type: Temperature Sensors, Current Sensors, Position Sensors, Pressure Sensors, Speed Sensors
2) By Propulsion: Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs)
3) By Sales Channel: OEM (Original Equipment Manufacturer), After market
Subsegments:
1) By Temperature Sensors: Thermocouples, Thermistors, Infrared Sensors
2) By Current Sensors: Hall Effect Sensors, Shunt Resistors, Rogowski Coils
3) By Position Sensors: Linear Position Sensors, Rotary Position Sensors, Magnetic Position Sensors
4) By Pressure Sensors: Absolute Pressure Sensors, Gauge Pressure Sensors, Differential Pressure Sensors
5) By Speed Sensors: Wheel Speed Sensors, Engine Speed Sensors, Transmission Speed Sensors
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Which geographical regions are pioneering growth in the electric vehicle (ev) sensor market?
North America was the largest region in the electric vehicle (EV) sensor market in 2024. The regions covered in the electric vehicle (EV) sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the influential players reshaping the electric vehicle (ev) sensor market landscape?
Major companies operating in the electric vehicle (EV) sensor market include Denso Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments Incorporated, LEM Holding SA, Kohshin Electric Corporation, Vishay Intertechnology Inc., Allegro MicroSystems Inc., Amphenol Corporation, ams-OSRAM AG, Analog Devices Inc., Melexis NV, Sensata Technologies Inc., STMicroelectronics N.V., Renesas Electronics Corporation, TE Connectivity, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo SA, CTS Corporation, Honeywell International Inc., Kistler Group, Methode Electronics Inc., Panasonic Corporation, TDK Corporation, Aptiv plc, AVX Corporation, Bourns Inc., Hella Inc.
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What Is Covered In The Electric Vehicle (EV) Sensor Global Market Report?
• Market Size Forecast: Examine the electric vehicle (ev) sensor market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the electric vehicle (ev) sensor market for a structured understanding.
• Key Players Overview: Analyze major players in the electric vehicle (ev) sensor market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the electric vehicle (ev) sensor market.
• Segment Contributions: Evaluate how different segments drive overall growth in the electric vehicle (ev) sensor market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the electric vehicle (ev) sensor market.
• Industry Challenges: Identify potential risks and obstacles affecting the electric vehicle (ev) sensor market.
• Competitive Landscape: Review strategic developments in the electric vehicle (ev) sensor market, including expansions, agreements, and new product launches.
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