Press release
Analysis of Key Market Segments Driving the Automotive Position Sensor Market
Automotive Position Sensor Market
Projected Market Expansion for Automotive Position Sensors by 2030
The automotive position sensor market is anticipated to expand to a valuation of $7.98 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.7%. This upward trajectory is fueled by several key factors, including the rise of autonomous vehicles, growing demand for sensors in electric vehicles, the adoption of smart chassis systems, increased sensor fusion technology, and the broadening implementation of advanced driver assistance systems (ADAS). Important market trends during this period include wider use of multi-axis sensors, advances in contactless sensing technologies, seamless integration with ADAS platforms, the need for high-precision position detection, and the proliferation of electronic control units.
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Leading Companies Driving Innovation in the Automotive Position Sensor Market
A variety of prominent corporations play a significant role in the automotive position sensor sector, including 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, and CTS Corporation.
An Expansion Through Strategic Acquisition
In February 2023, CTS Corporation, a US-based manufacturer of electronic components, acquired Switzerland's maglab AG for an undisclosed sum. This move bolsters CTS's portfolio in electric motor sensing and control technologies, enhancing its position in the automotive position sensor market. Maglab AG specializes in producing automotive position sensors, making the acquisition a strategic fit for CTS.
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Emerging Trends Highlighting the Future of Automotive Position Sensors
Companies in the automotive position sensor industry are focusing on developing cutting-edge products such as Hall technology sensors to meet mounting demands for accuracy and reliability in vehicle sensing. Hall sensors detect and measure magnetic fields' strength, direction, and presence, which improves vehicle performance and safety. A case in point is TDK Corporation, a Japan-based electronics firm that launched the HAL 3927 in October 2023. This 3D Hall technology-based position sensor offers a ratiometric analog output and a digital SENT interface compliant with SAE J2716 rev. 4 standards, making it suitable for automotive and industrial use.
Advanced Features of New Hall Technology Sensors
The HAL 3927 sensor can track both horizontal and vertical magnetic field components, allowing it to perform linear and rotary position measurements up to a full 360 degrees. It also provides an arbitrary programmable output feature, enabling the linearization of output signals using as many as 33 setpoints. The sensor includes integrated wire-break detection, further enhancing its robustness and applicability in demanding automotive environments.
Segment-wise Market Share and Forecast in the Global Automotive Position Sensor Market
This market is segmented broadly into:
1) By Type: Multi-Axis, Angular, Linear, and Other Types
2) By Vehicle Type: Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles
3) By Sales Channel: Original Equipment Manufacturers (OEMs) and Aftermarket
4) By Application: Clutch, Brake and Accelerator Pedals, Engine, Transmission and Suspension, Gear Shifters, Chassis, and Other Applications
Detailed Subsegments Within the Market
- Multi-Axis Position Sensors include 3-Axis and 6-Axis sensors, as well as specialized sensors for steering systems, seat adjustments, and vehicle stability control.
- Angular Position Sensors consist of rotary position sensors, those for steering angle detection, pedal and gear shift positioning, contactless angular position sensors, and rotary encoders.
- Linear Position Sensors encompass linear potentiometers, linear variable differential transformers (LVDT), capacitive, inductive, and Hall-effect linear sensors.
- Other Types incorporate proximity sensors, optical sensors, magnetic sensors, and strain gauge position sensors.
This segmentation helps provide a comprehensive understanding of the automotive position sensor market's current landscape and its evolving dynamics across various applications and vehicle categories.
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