Automotive Position Sensor Market Growth to be Driven by Emerging Trends | $7.58 Billion by 2029

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What is the Projected Market Size of the Automotive Position Sensor Industry?
The market size of automotive position sensors has seen robust growth in the past few years. It is projected to increase from $5.68 billion in 2024 to $6.01 billion in 2025, witnessing a compound annual growth rate (CAGR) of 5.8%. The historic growth can be linked to factors such as the adherence to emission regulations, a heightened emphasis on safety features, a surge in demand for electric vehicles (EVs), an increase in vehicle electronics complexity, the rise of autonomous vehicles (AVs), and the growing requirement for affordable sensors.

What Will Be the Size of the Automotive Position Sensor Market by 2029?
In the coming years, the automotive position sensor market's size is anticipated to experience robust growth, expanding to $7.58 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 6.0%. The projected growth during this period can be attributed to several factors such as the burgeoning demand for electric vehicles, an increase in vehicle electrification and hybridization, escalating government initiatives, a growing need for vehicle and environmental monitoring, and a rising demand for compact, energy-efficient sensors. Significant trends predicted during this forecast period encompass advancements in automotive technology, IoT and connectivity integration, vehicle miniaturization, technological convergence, and sophisticated ADS systems.

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What Are the Key Drivers Accelerating Growth in the Automotive Position Sensor Market?
The automotive position sensor market is projected to expand as the demand for electric vehicles (EVs) continues to increase. Electric vehicles are cars that run on electric motors, using energy from rechargeable batteries or other energy storage devices. A combination of factors such as growing environmental awareness, technological advancements, government incentives, and the burgeoning availability of charging infrastructure has led to this surge in demand for EVs. Automotive position sensors play a crucial role in these vehicles, enabling precise monitoring and control of different components, thereby boosting performance, safety, and efficiency. To illustrate, the France-based Internal Energy Agency reported that more than 2.3 million EVs were sold in the first quarter of July 2023, marking a 25% increase compared to the same period the previous year. Sales are projected to hit 14 million by the end of 2023, a 35% year-on-year increase, with the growth expected to speed up in the latter half of the year. Hence, the escalating demand for electric vehicles is fuelling the expansion of the automotive position sensor market.

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How Is the Automotive Position Sensor Market Segmented by Type, Application, and Region?
The automotive position sensor market covered in this report is segmented -

1) By Type: Multi-Axis, Angular, Linear, Other Types
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles
3) By Sales Channels: Original Equipment Manufacturers (OEMs), After market
4) By Applications: Clutch, Brake And Accelerator Pedals, Engine, Transmission And Suspension, Gear Shifters, Chassis, Other Applications

Subsegments:
1) By Multi-Axis Position Sensor: 3-Axis Position Sensors, 6-Axis Position Sensors, Multi-Axis Sensors For Steering Systems, Multi-Axis Sensors For Seat Adjustments, Multi-Axis Sensors For Vehicle Stability Control
2) By Angular Position Sensor: Rotary Position Sensors, Angular Position Sensors For Steering Angle Detection, Angular Position Sensors For Pedal And Gear Shift Positioning, Contactless Angular Position Sensors, Rotary Encoders For Position Sensing
3) By Linear Position Sensor: Linear Potentiometers, Linear Variable Differential Transformers (Lvdt), Capacitive Linear Position Sensors, Inductive Linear Position Sensors, Hall-Effect Linear Position Sensors
4) By Other Types: Proximity Position Sensors, Optical Position Sensors, Pressure-Based Position Sensors, Magnetic Position Sensors, Strain Gauge Position Sensors

What Are the Key Trends Driving Growth in the Automotive Position Sensor Market?
Significant businesses in the automotive position sensor market are introducing inventive items such as hall technology sensors, to cater to the burgeoning need for accurate and dependable position sensing in vehicles, thereby improving their performance, safety, and efficiency. Hall technology sensors are instruments that identify and quantify the existence, intensity, and route of a magnetic field. For example, TDK Corporation, an electronics manufacturer from Japan, unveiled a new 3D HAL technology-based position sensor dubbed the HAL 3927 in October 2023. This sensor has a ratiometric analog output and digital SENT interface in accordance with SAE J2716 rev. 4 standards. It is explicitly created for automotive and industrial uses, and offers high-resolution position measurements accompanied by a linear, ratiometric analog output and integrated wire-break detection. It is noteworthy that the HAL 3927 sensor is capable of measuring both horizontal and vertical magnetic-field components, which permits linear and rotary position measurements of up to 360°. Furthermore, it possesses a customizable output characteristic that allows for linearization of the output signal via up to 33 setpoints.

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Who Are the Leading Companies Driving Growth in the Automotive Position Sensor Market?
Major companies operating in the automotive position sensor market are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, ZF Friedrichshafen AG, Continental AG, Magna International Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Texas Instruments Incorporated, Aptiv Plc, Schaeffler AG, TE Connectivity, STMicroelectronics N.V., Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors, BorgWarner Inc., Amphenol Corporation, Analog Devices Inc., HELLA GmbH & Co. KGaA, Sensata Technologies Inc., Allegro MicroSystems Inc., Stoneridge, Melexis, CTS Corporation

Which Is the Leading Region in the Global Automotive Position Sensor Market?
Asia-Pacific was the largest region in the automotive position sensor market in 2024. The regions covered in the automotive position sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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