Global Automotive Temperature Sensor Market Is Registering A Substantial CAGR In The Forecast Period Of 2019-2026

Global automotive temperature sensor market is expected to rise to an estimated value of USD 13.19 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Increasing demand for electric vehicles and rising adoption of sensor fusion technology are the major factor for the growth of this market.

Global Automotive Temperature Sensor Market By Application (Engine, Exhaust, HVAC, Transmission, Thermal Seats, Body Electronics,  Alternative Fuel Vehicles, Powerstrain), Product (Thermistor, Resistance Temperature Detector, Thermacouple, IC Temperature Sensor, MEMS, Infrared Temperature Sensors), Technology (Contact, Non- Contact), Usage (Gas, Liquid, Air), EV Application (HVAC, Battery, Engine, Electric Motor), EV Charging Technology (Wired, Wireless), Vehicle (Passenger Cars, Commercial Vehicles), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026.

Market Analysis: Global Automotive Temperature Sensor Market

Global automotive temperature sensor market is expected to rise to an estimated value of USD 13.19 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Increasing demand for electric vehicles and rising adoption of sensor fusion technology are the major factor for the growth of this market.

Market Definition: Global Automotive Temperature Sensor Market

Automotive temperature sensor is used to measure the temperature of the vehicle engine coolant. These sensors usually observe the temperature of the coolant and via electrical current they share this information to the electric current unit. MEMS, infrared temperature sensors, IC temperature sensor, thermistor etc. are some of the common type of the automotive temperature sensor. They have the ability to measure the temperature gradient at different conditions.

 

Market Drivers:

  • Rising awareness about the application of automotive temperature sensor will drive the market growth
  • Increasing prevalence for autonomous vehicles will propel the growth of the market
  • Strict emissions rules for automobiles will drive the market growth
  • Rising demand for advanced automatic control system will also drive the growth of this market

Market Restraints:

  • High cost pressure on automotive OEM will restrain the market growth
  • Limited features of the temperature sensors will hamper the market
  • Rising price competitions among manufacturer is another important factor restraining the growth of this market

Segmentation: Global Automotive Temperature Sensor Market

By Application

  • Engine
  • Exhaust
  • HVAC
  • Transmission
  • Thermal Seats
  • Body Electronics
  • Alternative Fuel Vehicles
  • Powerstrain

By Product

  • Thermistor
  • Resistance Temperature Detector
  • Thermacouple
  • IC Temperature Sensor
  • MEMS
  • Infrared Temperature Sensors

By Technology

  • Contact
  • Non- Contact

By Usage

  • Gas
  • Liquid
  • Air

By EV Application

  • HVAC
  • Battery
  • Engine
  • Electric Motor

By EV Charging Technology

  • Wired
  • Wireless

By Vehicle

  • Passenger Cars
  • Commercial Vehicles

Key Developments in the Market:

  • In July 2017, Littlefuse Inc., announced that they have acquired U.S. Sensor Corp so that they can strengthen their sensor platform. With this acquisition, the company will strengthen their circuit protection business and will expand their sensor platform as well. This will also help them to serve their customer with better technologies and solutions
  • In December 2016, TDK Corporation announced that they have acquired InvenSense, Inc. With the acquisition, the company wants to unlock new business opportunities in the Internet of Things. The company will expand their sensor business with the launch of different product which will include electric current, pressure, temperature sensors etc

Competitive Analysis:

Global automotive temperature sensor market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of automotive temperature sensor market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

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Key Market Competitors:

Few of the major competitors currently working in the global automotive temperature sensor market are Continental AG, Bosch Limited, Delphi Technologies, Sensata Technologies, Inc, TE Connectivity., NXP Semiconductors, Microchip Technology Inc., Analog Devices, Inc, Texas Instruments Incorporated, Panasonic Corporation, Murata Manufacturing Co., Ltd., TDK Corporation., Okazaki Manufacturing Company UK Limited and others.

 

About Data Bridge Market Research 12189 Articles
Hi, I am Ravi Kumar, a Blogger, Freelancer, SEO Consultant, an Internet Marketer, I am a research analyst who loves to evaluate data relating to Manufacturing industry, Management of companies and enterprises, Finance and insurance, Wholesale trade, Management, scientific, and technical consulting services

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