Electric Vehicle Sensor Market By Product Type (Temperature Sensor, Motion Sensor, Pressure Sensor, Gas Sensor, Speed Sensor), By Propulsion (Hybrid Electric Vehicles (HEVs), Plug-In Hybrid Electric Vehicles (PHEVs), Battery Electric Vehicles (BEVs)): Global Opportunity Analysis and Industry Forecast, 2021-2031
The electric vehicle sensor market is valued at $9,551.70 million in 2021 and is estimated to reach $37,381.40 million by 2031, exhibiting a CAGR of 15.11% from 2022 to 2031.
Electric vehicle sensors are used to detect and monitor different physical and chemical processes in a vehicle, to find out any issues that could occur in the future. Leading companies provide safety, comfort, and affordability to their consumers with the help of electric vehicle sensors. It enhances performance of vehicles and increases their life span.
Presently, there is an increase in demand for intelligent sensors in vehicles, which allows manufacturers to give drivers higher level of safety & security, reliability, and information & entertainment. Manufacturers of electronic devices are incorporating more sensors in their devices to add additional features and compete with other players in the market. High competition in the electronic market, steady upgrade in electronic devices, and increase in automation in the automotive industry through electronic devices are anticipated to drive the market growth in the future.
Factors such as rise in use of pressure sensors in the automotive industry, surge in demand for electric vehicle sensors in hybrid and electric cars and increase in use of custom designed electronics devices boost the market demand. However, high development cost of electric vehicle sensors is expected to hinder the market growth.
Moreover, technological advancements in the automobile industry and growth in the automotive sector are expected to offer lucrative opportunities for the market globally. Each of these factors is anticipated to have a definite impact on the electric vehicle sensor market during the forecast period.
The electric vehicle sensor market is segmented on the basis of product type, application, and region. By product type, it is categorized into pressure sensors, temperature sensors, motion sensors, speed sensors, and gas sensors. By propulsion, it is divided into hybrid electric vehicles (HEVs), plug-in hybrid electric vehicle (PHEVs), and battery electric vehicle (BEVs).
By region, the electric vehicle sensor market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, Italy, France, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The key players operating in the electric vehicle sensor market include Continental AG, Denso Corporation, Sensata Technologies Inc., Renesas Electronics, NXP Semiconductors, Panasonic Corporation, Melexis, Valeo, Amphenol Advanced Sensors and Robert Bosch.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric vehicle sensor market analysis from 2021 to 2031 to identify the prevailing electric vehicle sensor market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the electric vehicle sensor market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global electric vehicle sensor market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Product TypeTemperature Sensor
Motion Sensor
Pressure Sensor
Gas Sensor
Speed Sensor
By PropulsionHybrid Electric Vehicles (HEVs)
Plug-In Hybrid Electric Vehicles (PHEVs)
Battery Electric Vehicles (BEVs)
By RegionNorth America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Continental AG
Denso Corporation
Sensata Technologies, Inc.
Renesas Electronics
NXP Semiconductors
Melexis
Valeo
Panasonic
Amphenol Advanced Sensors
Robert Bosch Venture Capital GmbH
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