Press release
Global Powertrain Sensor Market to Reach $29.58 Billion by 2029, Growing at 6% CAGR
Powertrain Sensor
The rising motor vehicle production is expected to spur the growth of the powertrain sensor market. Motor vehicle production is increasing due to higher consumer demand and improvements in manufacturing technologies. Powertrain sensors are integral to vehicle production, enhancing performance, efficiency, and safety by enabling real-time diagnostics and ensuring regulatory compliance. For example, in November 2023, Statistics Canada reported that the number of registered road motor vehicles reached 26.3 million in 2022, reflecting a modest 0.3% rise from 2021. Therefore, the growth in motor vehicle production is propelling the powertrain sensor market.
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How will the growth rate of the powertrain sensor market shape industry trends by 2034?
The powertrain sensor market has shown strong growth in recent years. It will grow from $22.03 billion in 2024 to $23.43 billion in 2025, at a CAGR of 6.4%. Factors behind this growth include rising infrastructural development, higher purchasing power, growing popularity of e-mobility, increased demand for luxury and electric vehicles, and wider adoption of powertrain sensors.
The powertrain sensor market is expected to reach $29.58 billion by 2029, at a CAGR of 6.0%. Growth is attributed to rising motor vehicle production, demand for hybrid electric vehicles, commercial vehicle sales, and increasing vehicle sensor usage. Major trends include product innovation, flexible installations, hybrid sensor solutions, and AI for predictive maintenance.
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What trends are poised to drive the future success of the powertrain sensor market?
Major companies in the powertrain sensor market are focusing on creating advanced products like electric vehicle powertrain systems to strengthen their position. Electric vehicle powertrain systems convert stored electrical energy into mechanical energy for vehicle movement. For example, Allegro MicroSystems Inc., a US-based semiconductor firm, introduced the ACS37601 in March 2023, a high-precision field current sensor for electric vehicle powertrain systems. This sensor enhances the efficiency of EV systems by monitoring current flow and providing precise data for safe operation, leading to better control and longer battery life.
Which primary segments of the powertrain sensor market are driving growth and industry transformations?
The powertrain sensor market covered in this report is segmented -
1) By Type: Position Sensor, Speed Sensor, Pressure Sensor, Temperature Sensor, Other Sensors
2) By Subsystem: Drivetrain, Engine, Exhaust
3) By Propulsion: Internal Combustion Engine, Electric Vehicle
4) By Application: Passenger Car, Commercial Vehicle
Subsegments:
1) By Position Sensor: Linear Position Sensors, Rotary Position Sensors
2) By Speed Sensor: Magnetic Speed Sensors, Optical Speed Sensors, Hall Effect Speed Sensors
3) By Pressure Sensor: Absolute Pressure Sensors, Gauge Pressure Sensors, Differential Pressure Sensors
4) By Temperature Sensor: Thermocouples, Thermistors, Resistance Temperature Detectors (RTDs)
5) By Other Sensors: Knock Sensors, Oxygen Sensors, Exhaust Gas Temperature Sensors
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Which geographical regions are pioneering growth in the powertrain sensor market?
North America was the largest region in the powertrain sensor market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the powertrain sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the powertrain sensor market landscape?
Major companies operating in the powertrain sensor market are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, Texas Instruments Incorporated, Aptiv plc, Schaeffler AG, TE Connectivity Ltd., Infineon Technologies AG, Kyocera Corporation, NXP Semiconductors N.V., BorgWarner Inc., Amphenol Corporation, Renesas Electronics Corporation, Hella GmbH and Co. KGaA, Littelfuse Inc., Allegro MicroSystems LLC, Melexis NV, IAV Automotive Engineering Inc., CTS Corporation, PCB Piezotronics Inc., Delphi Technologies plc
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What Is Covered In The Powertrain Sensor Global Market Report?
•Market Size Forecast: Examine the powertrain sensor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the powertrain sensor market for a structured understanding.
•Key Players Overview: Analyze major players in the powertrain sensor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the powertrain sensor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the powertrain sensor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the powertrain sensor market.
•Industry Challenges: Identify potential risks and obstacles affecting the powertrain sensor market.
•Competitive Landscape: Review strategic developments in the powertrain sensor market, including expansions, agreements, and new product launches.
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