Global Automotive Temperature Sensors Market 2018-2022
About Automotive Temperature Sensors
Temperature sensors are used to measure the temperature by converting thermal energy into electrical energy. This information is then sent to the electronic control unit (ECU), which calculates appropriate algorithms based on the data to keep the vehicle running in good condition.
Technavio’s analysts forecast the global automotive temperature sensors market to grow at a CAGR of 6% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive temperature sensors market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of automotive temperature sensors.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Temperature Sensors Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive temperature sensors market: Bosch, Continental, Delphi, DENSO, NXP Semiconductors, and Sensata Technologies
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing automotive HVAC market to push wider adoption of temperature sensors. HVAC systems have more than 97% penetration in developed regions like North America and Europe, whereas, they lag behind in the case of emerging nations. However, with an increase in disposable income and availability of financing options, consumers are considering buying vehicles with HVAC systems in emerging markets, such as India. APAC being the hub for automotive industry, the increase in adoption of HVAC systems is expected to increase the adoption of temperature sensors during the forecast period.”
According to the report, one of the major drivers for this market is Automobile electronics market grows with increasing concern about safety and security in vehicles. the consumers. These sensors enhance the engine control and provide better safety, security, and comfort in a vehicle. Advanced electronic control units facilitate operations, such as driver assistance through navigation systems, in-vehicle infotainment through audio-video devices, and internet facility through in-built or plug-in modems.
Further, the report states that one of the major factors hindering the growth of this market is Increasing cost pressure on automotive OEMs. Rising consumer demands and dynamism in the regulatory environment have subjected OEMs to cost pressures as they have to change their vehicle and engine designs in a short period of time to comply with the newer regulations. OEMs are constantly struggling to find ways to minimize the overall cost so that it is not transferred to the consumers as this transfer may reduce the demand for the vehicle.
Bosch, Continental, Delphi, DENSO, NXP Semiconductors, and Sensata Technologies
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