The Automotive Powertrain Sensors Market is projected to reach $32.2 billion by 2030, at a CAGR of 7.7% during the forecast period. By Volume, the automotive powertrain sensors market is projected to reach 6,971.4 million units by 2030, at a CAGR of 9.7% during the forecast period. The growth of this market is driven by the increasing requirement for sensors in hybrid powertrains, rising awareness about fuel economy, and increasing demand for mid-sized cars from developing nations. Furthermore, the rising awareness about the carbon footprint of vehicles and stringent emission regulations are expected to create market growth opportunities during the forecast period.
However, the high development cost of automotive sensors and the complexity of sensor integration restrain the growth of this market. Also, the lack of harmonization in system integration is a major challenge for the players in this market. Furthermore, the increasing deployment of compact engines and the growing adoption of shared mobility are key trends in the automotive powertrain sensors market.
Rising Requirement of Increasing Fuel Economy
Fuel economy is a key factor in worldwide energy consumption. Better fuel economy can be achieved by increasing the efficiency of the powertrain by accurately identifying the driving conditions. The powertrain system is composed of the engine and transmission, which control the vehicle's drive/braking power. The core components that are used for identifying driving conditions and optimizing fuel economy are the engine control module (ECM), transmission control unit (TCU), and brake control unit (BCU). Fuel economy can be increased by improving the efficiency of powertrains by optimizing the use of engine and battery power. Demand for better real-world fuel economy has created a huge demand for powertrain sensors that monitor and control the engine and transmission in response to driving conditions and optimize the engine performance to increase the fuel economy. The higher fuel economy will help in reducing the consumption of fossil fuels and thus help in reducing vehicular emissions and achieving carbon reduction targets.
Governments across the world are also emphasizing increasing the fuel economy and reducing vehicle emissions. For instance, in the U.S., the regulations require carmakers to meet a corporate average fuel economy (CAFE) target of 54.5 miles per gallon by 2025. To achieve this target, automotive manufacturers are required to achieve an average increase in fuel economy of five percent for cars and three and a half percent for light trucks per year through 2021, with a five percent increase for all vehicles. These factors are expected to drive the market for powertrain sensors during the forecast period.
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Key Findings in the Automotive Powertrain Sensors Market Study:
The Exhaust Sensors Segment to Register the Higher CAGR During the Forecast Period
Based on type, the global automotive powertrain sensors market is segmented into temperature sensors, position sensors, exhaust sensors, pressure sensors, fluid concentration sensors, knock sensors, speed sensors, torque sensors, current sensors, voltage sensors, and other sensors. The exhaust sensors segment is projected to register a higher CAGR during the forecast period. The growth of this segment is driven by increasingly stringent government regulations mandating higher fuel efficiency, fewer exhaust emissions, and the use of exhaust gas regeneration technology. These sensors are critical for closely monitoring real-traffic emissions and the impact of after-treatment systems.
The Transmission Management Sensors Segment to Register the Higher CAGR During the Forecast Period
Based on powertrain subsystems, the global automotive powertrain sensors market is segmented into engine management sensors, power steering sensors, and transmission management sensors. The transmission management sensors segment is projected to register a higher CAGR during the forecast period. The growth of this segment is driven by factors such as the increased adoption of hybrid electric vehicles and plug-in hybrid electric vehicles requiring multiple sensors to measure torque, the position of gears, and power delivery. Moreover, the implementation of technologies, such as continuously variable transmission, multi-gear automatic transmission, dual-clutch transmission, and regenerative braking, have led to powertrain designs that involve higher internal pressures, greater instantaneous forces, increased electronic signatures, and more complex designs and mechanical operation which support the high growth of this segment.
The Electric Vehicles Segment to Register the Highest CAGR During the Forecast Period
Based on vehicle type, the global automotive powertrain sensors market is segmented into internal combustion engine vehicles, hybrid vehicles, electric vehicles, and other vehicles. The electric vehicles segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rapid adoption of hybrid electric powertrains for optimizing the use of combustion engines for low-speed cruising, stringent emission norms in Europe and the U.S., and innovations in battery technology production.
Latin America to be the Fastest-growing Market
Based on geography, the automotive powertrain sensors market is segmented into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa. Latin America is slated to register the highest CAGR during the forecast period. The high growth of automotive powertrain sensors in Latin America is majorly attributed to the presence of fast-growing economies, such as Brazil and Argentina, and the growing adoption of torque sensors in electric power steering systems. Moreover, government support for adopting fuel-efficient powertrain sensors is further driving the growth of this market in this region.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by the key players. The leading players in the automotive powertrain sensors market are Texas Instruments (The U.S.), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Infineon Technologies (Germany), NXP Semiconductor (Netherlands), HELLA GmbH & Co. (Germany), Valeo (France), CTS Corporation (The U.S.), Renesas Electronics Corporation (Japan), ZF Friedrichshafen AG (Germany), Delphi Technologies (The U.K.), PCB Piezotronics Inc. (The U.S.)., STMicroelectronics N.V. (Switzerland), and TE Connectivity (Switzerland).
Scope of the Report:
Automotive Powertrain Sensors Market Assessment, by Type
- Exhaust Sensors
- Lambda/Oxygen Sensors
- Nitrogen Sensors
- Soot Sensors
- Ammonia Sensors
- Position Sensors
- Inductive Sensors
- Magnetic Sensors
- Capacitive Sensors
- Temperature Sensors
- Thermocouples
- Thermistors
- Silicon Sensors
- Fluid Concentration Sensors
- Current Sensors
- Voltage Sensors
- Knock Sensors
- Speed Sensors
- Torque Sensors
- Pressure Sensors
- Other Sensors
Automotive Powertrain Sensors Market Assessment, by Powertrain Subsystem
- Engine Management Sensors
- Power Steering Sensors
- Transmission Management Sensors
Automotive Powertrain Sensors Market Assessment, by Vehicle Type
- Internal Combustion Engine (ICE) Vehicles
- Passenger Vehicles
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Hybrid Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
- Electric Vehicles
- Battery Electric Vehicles
- Fuel Cell Electric Vehicles
- Other Vehicles
Automotive Powertrain Sensors Market Assessment, by Geography
- North America
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Latin America
- Middle East & Africa
Key Questions Answered in the Report: