Enjoy complimentary customisation on priority with our Enterprise License!
The automotive engine sensors market size is estimated to grow by USD 4.23 billion at a CAGR of 3.27% between 2023 and 2028. The market's growth is driven by several factors, including the increasing demand for vehicle and environmental safety, the rising demand for Inertial Measurement Units (IMU) sensors due to advancements in manufacturing technology, and stringent government regulations on emission control. Enhanced safety measures in vehicles and environmental monitoring are crucial for protecting lives and ecosystems, leading to a higher demand for sophisticated safety technologies. Advancements in manufacturing technology have made them more efficient and cost-effective, expanding their application across various industries. Additionally, stringent emission control regulations compel manufacturers to adopt cleaner technologies, further stimulating market growth.
To learn more about this report, View Sample PDF
The market encompasses a range of technologies designed to optimize vehicle performance, enhance driver safety, and reduce CO2 emissions. Key components include LiDAR technology, compact sensors, energy-efficient sensors, and electronic sensors. They monitor various parameters such as incoming air temperature, wheel speed, fuel-air mixture, and manifold pressure to ensure fuel efficiency and electrification. Moreover, the integration of vehicle automation and connected cars necessitates advanced sensor systems. Cost-effective sensors play a crucial role in making these technologies accessible to a broader consumer base. The market is expected to grow significantly due to the increasing demand for EVs and HVs, as well as the push for stricter fuel efficiency standards. Autonomous driving is another area where engine sensors play a pivotal role, enabling vehicles to detect and respond to road conditions and potential collisions, including side-impact collisions and those involving vulnerable road users. The Electronic Control Unit (ECU) relies on these sensors to process data and make real-time adjustments, ensuring optimal vehicle performance and safety. Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand for Inertial Measurement Units (IMU) sensors due to advancements in manufacturing technology is a key driver for the market. InvenSense and STMicroelectronics have created smaller sensor dies that combine both accelerometers and gyroscopes. These combos are now available in sizes as small as 10 * 10 square mm, and their size is expected to decrease further. Inertial measurement units (IMUs) have also been improved with sensor-fusion software that supports features such as automatic screen rotation, gesture recognition, and free-fall detection.
The integration of data from multiple sensors has eliminated many of the limitations of individual sensors when calculating position and orientation information. They have lower production costs compared to discrete sensors. IMU sensors are expected to surpass discrete sensors in unit shipments by the end of the forecast period.
Leading companies, such as STMicroelectronics and Bosch SensorTec, are investing more in research and development to create advanced versions of IMUs, gyroscopes, and accelerators. The sales potential of this market has motivated companies to set high standards for sensor products. This increased investment is expected to drive and sustain market growth during the forecast period.
Thus, these factors will drive the growth of the market during the forecast period.
Advances in MEMS packaging techniques is an emerging trend shaping market growth. The MEMS packaging industry has gained immense prominence in recent years and is constantly evolving. The need to reduce packaging size and integrate 9-axis sensors in a single package has increased, especially with the advent of multi-axis accelerometers.
Furthermore, the companies must achieve standardization in packaging due to the massive increase in unit shipments of MEMS sensors over the last few years. Although it is a difficult task to achieve due to rapid advances in technology in consumer electronic devices, certain companies are trying to achieve packaging material standardization for various sensors. Therefore, such advances in MEMS packaging are expected to benefit companies that offer MEMS sensors significantly. Hence, these factors will fuel the growth of the market during the forecast period.
Low profitability for companies in the market is a significant challenge hindering growth. Manufacturers in the consumer electronics and automotive industries aim to reduce variable manufacturing costs, including raw material costs, through bargaining with suppliers. This bargaining has reduced profitability for engine sensor companies, who must also lower production costs to remain competitive. The high concentration of companies in the market has raised concerns about shrinking customer bases and profit margins. Many companies in this segment are consumer electronics industry players, posing challenges for smaller suppliers lacking critical mass. Thin profit margins have led to serious concerns for automotive electronics suppliers globally and many bankruptcy filings.
A proposed solution for this issue is factoring, which involves financing receivables. The receivables financing company provides two installments, with the first covering 80% of the account receivables and paid upon delivery, while the remaining 20% is paid once the OEM or tier-1 supplier settles the invoice. Thus, these factors will hinder the growth of the market during the forecast period.
Get a detailed analysis of drivers, trends, and challenges View the Sample PDF now!
The market share growth by the process sensors segment will be significant during the forecast period. Process sensors monitor temperature and pressure and are widely used for applications pertaining to passenger safety and vehicle security.
Get a glance at the market contribution of various segments View Sample PDF
The process sensors segment was valued at USD 20.17 billion in 2018. The adoption of pressure sensors is expected to be highest during the forecast period due to the change in technology. Currently, MEMS technology is most often used in pressure sensors and is expected to move to capacitive ceramic technology because it can work efficiently at extreme temperatures, providing better thermal management. In addition to passenger cars, process sensors gather force in CVs. We expect the growth of the mid and low-segment vehicle market to drive the process sensors during the forecast period.
APAC is estimated to contribute 65% 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.
For more insights on the market share of various regions View the Sample PDF now!
The market in APAC is significantly influenced by the region's high sales volume of automobiles, which is subjected to various weather conditions such as dust, rain, and fog. Radar sensors and LIDAR sensors play a crucial role in ensuring safety and efficiency under these challenging conditions, minimizing false alarms and detecting obstacles in real-time. The market's growth is further fueled by advancements in the powertrain sector, which integrates infotainment features, reconfigurable instrument clusters, and center consoles. Rare earth metals are essential components of automotive sensors, including IMU sensors, MEMS components, gyroscopes, and accelerometer sensing elements. Signal processing and inertial sensors enable accurate measurement of lateral, longitudinal, and vertical acceleration, enhancing the overall driving experience. In addition, safety measures such as reverse gearing sensors and impediments detection systems contribute to the market's revenue generation. The increasing demand for advanced automotive sensors in APAC, driven by population growth, economic development, and infrastructural improvements, is expected to continue shaping the market landscape. Key players in the market focus on innovations in display quality, touch surface designs, and integrated circuits (including inductance-to-digital converters, force touch feature, and rear-view sensors) to cater to evolving consumer preferences.
Take a quick look at various segments. View the Sample PDF now!
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. One of the major companies in the market include:
TDK Corp.- The company offers commercial telematics platforms with the latest cutting-edge technology.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 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. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market in the Automotive sector is a significant industry, encompassing various types of sensors used for engine management. These sensors include ECV (Electronic Control Valve) sensors, HVS (Hydraulic Valve Solenoid) sensors, LIDAR (Light Detection and Ranging) sensors, and others. The ECV sensors are essential for engine efficiency, while HVS sensors manage hydraulic systems. The market is crucial for enhancing vehicle authentication, comfort, and safety in EVs (Electric Vehicles) and HVs (Hybrid Vehicles).
Furthermore, LIDAR sensors are used for autonomous driving technology. The market for these sensors is growing due to the increasing demand for advanced driver assistance systems (ADAS) and electric vehicles (EVs). The sensors enable engine optimization, emission control, and safety features. The market is driven by factors such as stringent emission norms and the shift towards electric vehicles. The market is expected to continue its growth trajectory in the coming years. Key sensors include the Idle Air Control Valve, Intake Air Temperature Sensor, Manifold Absolute Pressure Sensor, and O2 Sensor, all vital for efficient Electronic-Control-Unit operation and reducing road accidents.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
175 |
|
Base year |
2023 |
|
Historic period |
2017-2021 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 3.27% |
|
Market growth 2024-2028 |
USD 4.23 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
3.13 |
|
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 65% |
|
Key countries |
China, US, Japan, India, and Germany |
|
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Amphenol Corp., Aptiv Plc, Auto DITEX BG Ltd., Continental AG, DENSO Corp., Dorman Products Inc., DRiV Inc., Electricfil SA, HELLA GmbH and Co. KGaA, Hitachi Ltd., Mitsubishi Electric Corp., Niterra Co. Ltd., NXP Semiconductors N.V., PRENCO Progress and Engineering Corp. Ltd., Robert Bosch GmbH, Sensata Technologies Inc., Spectra Premium Industries Inc., TDK Corp., Texas Instruments Inc., and Walker Products Inc. |
|
Market dynamics |
Parent market analysis, Market Forecasting, 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 market forecast period |
|
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.