Northrook, IL -- (SBWIRE) -- 04/30/2020 -- The automotive sensors market is projected to grow from USD 28.1 billion in 2020 to USD 41.9 billion by 2024, it is expected to grow at a CAGR of 6.9% from 2020 to 2025. Increased global motor vehicle production, rise in demand for vehicle electrification, formulation of stringent government regulations related to emissions, and increase in consumer demand for safety and comfort in vehicles are the major factors driving the growth of the automotive sensors market.

Based on type, the position sensors segment is projected to account for the largest size of the automotive sensors market from 2020 to 2025

Position sensors are devices that are used for position measurement in various automotive applications such as powertrain, chassis, safety & control, and among others. They can be either linear or angular. These sensors provide information to the engine control modules (ECM), which are used in vehicles for carrying out various required actions. Primary uses of position sensors include camshaft position sensing (carried out by G-sensors), crankshaft position sensing (carried out by NE sensors), and throttle position sensing, as well as fuel level and brake fluid indication. Besides these main applications, position sensors are used in brake pedal position sensing, clutch pedal position sensing, accelerator pedal position sensing, seat and headrest position sensing, electric roof position sensing, sunroof position sensing, windscreen wiper position sensing, crash sensing, valve position sensing, gear shift position sensing, headlight position sensing, manifold flap position sensing, and seat position sensing. Due to the use of position sensors in a wide range of applications, the position sensors segment of the market is projected to grow significantly during the forecast period.

Download Free PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=426

Based on vehicle type, the passenger cars segment is projected to account for the largest size of the automotive sensors market from 2020 to 2025

Presently, passenger cars account for the largest shipment of the total global automotive production. Sensors in passenger cars improve the performance of cars, enhance the safety of passengers, and reduce emissions from them. The rise in demand for safe vehicles has directly fueled the demand for automobiles in emerging economies such as China, India, and Brazil, where the penetration of automobiles is significantly low. The increased purchasing power of consumers has also increased the demand for automobiles with enhanced safety and advanced features. The adoption of advanced driver assistance system (ADAS) technology and the advent of autonomous cars are expected to fuel the growth of the automotive sensors market in developed nations such as the US, Germany, and the UK.

The powertrain application segment is projected to hold the largest size of the automotive sensors market during the forecast period

Sensors are used in powertrains to monitor position, speed, gas, pressure, and temperature. These sensors are required for efficient and safe operations of powertrains. Stringent fuel-efficiency and emission regulations formulated by governments of different countries are driving the growth of the automotive sensors market in powertrain. Gathering analog information related to pressure and temperature of automobiles for use by their digital control units is crucial to meet fuel-efficiency and emission regulations. Sensors help automobile engines in burning fuel efficiently by providing precise data to engines to optimize the fuel consumption according to requirements of the automobiles.

APAC is projected to hold the largest size of the automotive sensors market during the forecast period

The automotive industry in APAC has been very dynamic over the past few years, owing to increasing per capita income of the middle-class population, and cost advantages for original equipment manufacturers (OEMs). The region is known for producing compact and cost-effective cars and comprises some of the fastest-developing economies of the world, including China and India. APAC is estimated to be the largest market for automobiles in the world from 2020 to 2025. The growth of the automotive sensors market in APAC can be attributed to the growing population and rising income levels, which have led to increased demand for automobiles. The automotive sensors market in APAC has significant growth potential, owing to low automobile production costs, easy availability of economical labor, lenient emission and safety norms, and government initiatives to support foreign direct investments (FDIs). The rise in the automobile production levels is accompanied by a growing inclination of consumers toward comfort, safety, and luxury, which is expected to fuel the demand for automotive sensors in APAC.

Key Market Players
Robert Bosch (Germany), Continental AG (Germany), Delphi Automotive (UK), Denso Corporation (Japan), Infineon Technologies (Germany), Sensata Technologies (US), Allegro Microsystems (US), Analog Devices (US), Elmos Semiconductor (Germany), and CTS Corporation (US) are some of the key players in the automotive sensors market.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441