Motor Vehicle Sensor Market, By Application (Engine and drivetrain, Safety and Security, Emission control, and Others), By Product Type (Physical property sensors, Process variable sensors, Proximity and positioning sensors, Chemical property sensors, and Other sensors), and By Region (North America, Europe, Asia Pacific, RoW) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028
Motor vehicle sensor control and monitor the chemical, physical, and process changes of automobiles. Sensors are used to reduce fuel consumption as well as onboard the weight of vehicles and also comply with government norms for passengers’ safety. The demand for sensors is dependent on a number of factors, ranging from technological advances to foreign trade to micro- and macro-economic variables that seek to improve the system functionality. The various sensor types are temperature sensors, exhaust gas, knock, air mass flow, and crankshaft position which subsequently are used to enhance powertrain performance (which comprises over 50% of the total applications of automotive sensors).
Increasing adoption and development in the electrical vehicle market is expected to create lucrative growth opportunities to the global motor vehicle sensor market during the forecast period. Electrical vehicle market is rapidly growing across the globe owing to increasing development in battery technology. According to Coherent Market insights analysis, global electric vehicle market is expected to register CAGR 29.2% during the forecast period 2022-2028. Electrical vehicles uses various sensors such as Voltage Sensor, Air Flow Sensor (as coolant), steering position sensor, paddle position sensor, and others. Thus, Increasing adoption and development in the electrical vehicle market is expected to create lucrative growth opportunities to the global motor vehicle sensor market during the forecast period.
In the recent past, the demand of automotive hybrid vehicle is increased in the global market which is expected to drive the global motor vehicle sensor market during the forecast period. This is owing to the advanced hybrid vehicles being launched in the market. increasing product launch of hybrid vehicles. For instance, in February 2020, Toyota Motor Corporation, a Japan based automotive manufacturer, launched self-charging hybrid EV Vellfire. A seven seater luxurious car launched it two electric motors and a hybrid battery to control emissions. Further, Coherent Market Insights analysis, global hybrid vehicle market is expected to grow with CAGR 15.3% during the forecast period 2022-2028. Thus, increasing hybrid vehicle market is expected to drive the global motor vehicle sensor market during the forecast period.
This report segments the global motor vehicle sensor market on the basis of application, product type, and region. On the basis of application, the global motor vehicle sensor market is segmented into engine and drivetrain, safety and security, emission control, others. On the basis of end-use sector, the global motor vehicle sensor market is segmented into physical property sensors, process variable sensors, proximity and positioning sensors, chemical property sensors, other sensors. On the basis of region, the global motor vehicle sensor market is segmented into North America, Europe, Asia-Pacific, and RoW.
Key features of the study:
This report provides an in-depth analysis of the global motor vehicle sensor market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global motor vehicle sensor market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the global motor vehicle sensor market are Hitachi Ltd, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.
The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
The global motor vehicle sensor market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global motor vehicle sensor market.
Global Motor Vehicle Sensor Market, By Application:
Engine and drivetrain
Safety and Security
Global Motor Vehicle Sensor Market, By Product Type:
Physical property sensors
Process variable sensors
Proximity and positioning sensors
Chemical property sensors
Global Motor Vehicle Sensor Market, By Region:
Rest of the World (RoW)
Robert Bosch GmbH
*Browse all the market data tables and figures on “Global Motor Vehicle Sensor Market- Forecast to 2027”
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