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The automotive engine oil level sensor market size is estimated to grow at a CAGR of 5.31% between 2024 and 2028. The market size is forecast to increase by USD 1,332.7 million. The growth of the market depends on several factors such as the increasing penetration of automotive electronics, the specially developed ultrasonic level sensors for diesel and biodiesel vehicles, and the growing number of vehicles-in-use.
This automotive engine oil level sensor market report extensively covers market segmentation by end-user (OEMs and aftermarket), application (microcar, economy car, mid-size car, and full-size car), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Specially developed ultrasonic level sensors for diesel and biodiesel vehicles are the key factor driving the growth of the market. Ultrasonic fuel level sensors are mainly created for diesel and biodiesel vehicles, but these sensors can also be used in other vehicles. They have a long service life and can be used in extreme environmental conditions due to their wire-free transmitter and receiver principle.
Moreover, ultrasonic-level sensors offer the best performance in vehicles. due to these special features, the acceptance of ultrasonic level sensors has been increasing in diesel and biodiesel engines, and this is boosting the global automotive oil level sensor market. Thus, such factors drive the growth of the global automotive engine oil level sensor market during the forecast period.
The growing popularity of NEMS and MEMS is the primary trend shaping market growth. Microelectromechanical systems (MEMS) technology involves the development of electromechanical and mechanical components operating the microfabrication technique. The structure of these devices can range from simple to fairly complex moving parts, and the physical dimensions can range from one micron to a few millimeters. They are also called micromachined or microsystem technology devices.
Besides, the nanoelectromechanical system (NEMS) technology is the next-level miniaturization of MEMS technology. The next generation of automobiles will benefit from the introduction of MEMS and NEMS technologies in automotive engine oil-level sensors. Thus, the rising popularity of NEMS and MEMS will significantly drive the growth of the global automotive engine oil level sensor market during the forecast period.
A favorable environment supporting EV adoption globally is a challenge that affects the growth of the market. Several government bodies across the globe are taking initiatives to encourage the adoption of EVs (Electric Vehicles). Unlike ICE (Internal Combustion Engine ) based vehicles, EVs lower air pollution significantly as they do not emit harmful pollutants such as particulates, carbon monoxide, hydrocarbons, and volatile organic compounds.
Moreover, the rising concerns about the significant rise in greenhouse gas emissions have increased the sales of hybrid engines and fully electric vehicles. Thus, these factors will impede the global automotive engine oil level sensor market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Automotive Engine Oil Level Sensor Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEMs segment is estimated to witness significant growth during the forecast period. The OEMs segment is an important driver for the global automotive engine oil level sensor market, and the rising adoption of vehicles like passenger cars and others for daily commuting or long-distance traveling is boosting the adoption of exhaust systems across the globe.
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The OEMs segment was the largest segment and was valued at USD 3,420.21 million in 2018. Although developments in the OEMs segment are on the lesser side than aftermarket, which is witnessing continuous developments in material and design, the segment will continue its dominant position owing to new automotive sales. Further, sport motorcycle and car OEMs will tend to offer automotive engine oil level sensors from the factory or optional fitment due to strong demand from racing enthusiast customers. Hence, such factors will drive the growth of the OEM segment of the global automotive engine oil level sensor market during the forecast period.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increased demand and sales of automobiles in China, Japan, South Korea, and India make APAC a predominant region in the global automotive engine oil level sensor market.
Furthermore, sensor manufacturing companies are attracted to countries in APAC as they present huge growth potential. Some of them have established their manufacturing facilities in the region to mark a long-term presence. Fetching pricing, the entry of new market players, more significant transparency on vehicle history, and the availability of different distribution channels have resulted in the growth of the market for used cars. These factors are driving the demand for automotive sensors, which will boost the growth of the automotive engine oil level sensor market in the region during the forecast period.
In 2020, the outbreak of COVID-19 negatively affected the automotive engine oil level sensor market in APAC. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Moreover, the significant growth in the automotive industry in the region and the rising demand for passenger cars and commercial vehicles in the region will boost the demand for automotive engine oil level sensors in the region. Consequently, the regional automotive engine oil level sensor market is expected to witness significant growth during the forecast period.
The automotive engine oil level sensor market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Automotive Engine Oil Level Sensor Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
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Market growth 2024-2028 |
USD 1,332.7 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.8 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 53% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amphenol Corp., Cebi International SA, Cummins Inc., General Motors Co., Gill Sensors and Controls Ltd., HELLA GmbH and Co. KGaA, Holykell Sensor Inc., Honeywell International Inc., ifm electronic gmbh, Niterra Co. Ltd., Porsche Automobil Holding SE, Robert Bosch GmbH, Rochester Sensors, Schaeffler AG, Sensata Technologies Inc., SMD Fluid Controls, TDK Corp., TE Connectivity Ltd., Texas Instruments Inc., and Toyota Industries Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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