Meticulous Research – leading global market research company, published a research report titled “Automotive Powertrain Sensors Market By Sensor Type (Temperature, Position, Exhaust, Pressure, Speed, Knock, and others), Powertrain subsystems (Engine management, Transmission management, Power steering), Vehicle Type (ICE, EV) and Geography – Global Forecast to 2028”.
According to this latest publication from Meticulous Research, the automotive powertrain sensors market is expected to grow at a CAGR of 6.0% from 2021 to 2028 to reach $26.47 billion by 2028. By volume, the automotive powertrain sensors market is expected to reach 5,615.2 million units by 2028, at a CAGR of 8.3% during the forecast period. The rising requirement of increasing fuel economy, increasing the requirement of sensors in hybrid powertrains, and increasing demand for mid-sized cars from developing nations are the major factors driving this market's growth. However, the high development cost of automotive sensors is expected to restrict this market's growth to some extent.
The automotive powertrain sensors market study presents historical market data in terms of value (2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on sensor type (temperature, position, exhaust, pressure, speed, knock, and others), powertrain subsystems (engine management, transmission management, power steering), and vehicle type (ICE, EV). The study also evaluates industry competitors and analyses the market at the country-level.
Based on powertrain subsystem, the automotive powertrain sensors market is segmented into engine management, transmission management, and power steering. In 2020, the engine management segment is projected to command the largest share of the overall automotive powertrain sensors market. The large share of this segment is mainly because the engine converts the chemical energy into mechanical energy using various moving parts that need to be monitored to increase efficiency and reduce emissions. Hence, pressure, position, speed, and temperature sensors are used for engine management in the powertrain.
Based on vehicle type, the automotive powertrain sensors market is segmented into internal combustion engine, and electric vehicle. In 2020, the internal combustion engine segment is expected to command the largest share of the market. The large share of this segment is because internal combustion engine technology will remain the dominant technology in automotive for the next decade. The OEMs worldwide are increasingly trying to track and monitor every aspect of the engine to make them more fuel-efficient, ensuring lower emissions. The internal combustion engine technology is the dominant technology in regions such as the Indian subcontinent, Southeast Asia, Latin America, and a major part of the Middle-East and Africa due to uncertainty of electric vehicles' infrastructural development in these regions.
This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, U.K., France, Italy, Spain, Russia & CIS, and Rest of Europe), Asia-Pacific (Japan, China, South Korea, India, Thailand, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, Asia-Pacific is expected to account for the largest share of the automotive powertrain sensors market, followed by Europe and North America. The Asia-Pacific region has some of the fastest-growing economies of the world, such as India, China, Indonesia, and Thailand, due to which the purchasing power of the consumer in this region is high, and there is a huge demand for automobiles from this region. Hence, the Asia-Pacific region commands the largest share in the automotive powertrain sensors market in 2020.
The key players operating in the automotive powertrain sensors market are Texas Instruments (U.S.), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Infenion Technologies (Germany), NXP Semiconductor (Netherlands), HELLA GmbH & Co. (Germany), Valeo (France), CTS Corporation (U.S.), Renesas Electronics Corporation (Japan), ZF Friedrichshafen AG (Germany), Delphi Technologies (U.K.), PCB Piezotronics Inc. (U.S.), STMicroelectronics N.V. (Switzerland), and TE Connectivity (Switzerland).
Check complete table of contents with a list of table and figures: https://www.meticulousresearch.com/download-sample-report/cp_id=5155
Key questions answered in the report-
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