Powertrain Sensor Market Size to Reach $28.47 Billion by 2029 | Growth at 5.3% CAGR Forecast

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What is the Projected Market Size of the Powertrain Sensor Industry?
In recent times, we have seen a consistent growth in the size of the powertrain sensor market. The market size is forecasted to expand from $22.03 billion in 2024 to $23.12 billion in 2025, a 5.0% compound annual growth rate (CAGR). The historical growth of this market is tied to factors such as enhanced infrastructure, a rise in consumer purchasing power, the growing prevalence of e-mobility, an increased demand for luxury and electric cars, and a rising adoption rate of powertrain sensors.

What Will Be the Size of the Powertrain Sensor Market by 2029?
The market for powertrain sensors is projected to experience robust growth in the forthcoming years, ballooning to a size of $28.47 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 5.3%. This growth during the forecast period is largely attributable to factors such as the increase in the production of motor vehicles, the growing demand for cars, the emergent demand for hybrid electric vehicles, increased commercial vehicle sales, an upsurge in the demand for silicon temperature sensors, surge in auto sales and production, and a rise in both passenger and commercial vehicle sectors. Key trends for the forecast period include product innovation and development, technological progress, the introduction of flexible installations, the formulation of hybrid sensor solutions, advancement of automobile technologies, the inception of wireless sensor network development, and the incorporation of artificial intelligence in predictive maintenance.

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What Are the Key Drivers Accelerating Growth in the Powertrain Sensor Market?
The advancement in motor vehicle manufacturing is slated to catalyze the expansion of the powertrain sensor market. The assembly of motor vehicles such as cars, trucks, and other vehicles involves a broad process that includes designing, making, marketing, selling, fixing, and maintaining them. The ascending production rates of vehicles are due to heightened consumer need for automobiles and the innovation in manufacture technology that makes processes more efficient. Powertrain sensors contribute to vehicle manufacturing by enhancing performance, efficiency and safety, offering essential real-time diagnostics, ensuring regulation adherence, and giving crucial data for ongoing improvement. For instance, Statistics Canada reported in November 2023 that the count of registered road motor vehicles in Canada in 2022 was 26.3 million, marking a slight climb by 0.3% compared to 2021. As a result, the upswing in motor vehicle production is boosting the powertrain sensor market's growth.

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How Is the Powertrain Sensor Market Segmented by Type, Application, and Region?
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

What Are the Key Trends Driving Growth in the Powertrain Sensor Market?
Key players in the powertrain sensor market are concentrating their efforts on the creation of groundbreaking products like electric vehicle powertrain systems to maintain their market standing. These systems consist of parts and technology that transform electrical energy stored in car batteries into mechanical energy, enabling the car to move. A case in point is Allegro MicroSystems Inc., a semiconductor firm from the US. In March 2023, the company unveiled the ACS37601, a high-precision current sensor fine-tuned for electric vehicle powertrain systems. This precise sensor enhances electric vehicle powertrain systems by keeping track of current flow, improving efficiency, and guaranteeing safe usage through accurate data feedback. Its implementation provides electric vehicles with superior control features, leading to improved performance and extended battery lifespan.

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Who Are the Leading Companies Driving Growth in the Powertrain Sensor Market?
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

Which Is the Leading Region in the Global 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.

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