On-Board Magnetic Sensors

On-Board Magnetic Sensors

Global On-Board Magnetic Sensors Market to Reach US$3.2 Billion by 2030

The global market for On-Board Magnetic Sensors estimated at US$2.0 Billion in the year 2023, is expected to reach US$3.2 Billion by 2030, growing at a CAGR of 6.8% over the analysis period 2023-2030. Hall Effect Sensors, one of the segments analyzed in the report, is expected to record a 6.9% CAGR and reach US$1.3 Billion by the end of the analysis period. Growth in the Magnetoresistive Sensors segment is estimated at 7.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$535.2 Million While China is Forecast to Grow at 10.4% CAGR

The On-Board Magnetic Sensors market in the U.S. is estimated at US$535.2 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$780.0 Million by the year 2030 trailing a CAGR of 10.4% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.3% and 6.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.0% CAGR.

Global On-Board Magnetic Sensors Market - Key Trends and Drivers Summarized

How Are On-Board Magnetic Sensors Enhancing Automotive Electronics?

On-board magnetic sensors play a critical role in modern automotive electronics, providing accurate and reliable detection of magnetic fields, positions, and rotational angles. These sensors are essential for functions such as position sensing, speed detection, and current measurement in electric power steering, braking systems, and motor control. On-board magnetic sensors come in various types, including Hall-effect sensors, magnetoresistive sensors, and inductive sensors, each tailored to meet specific automotive requirements. As the automotive industry embraces advancements in electric vehicles (EVs), autonomous driving, and advanced driver-assistance systems (ADAS), on-board magnetic sensors are becoming indispensable for ensuring vehicle safety, efficiency, and performance.

What Are the Key Segments in the On-Board Magnetic Sensors Market?

Major types include Hall-effect sensors, magnetoresistive sensors, and inductive sensors, with Hall-effect sensors holding the largest share due to their widespread use in automotive applications like throttle position, wheel speed, and current sensing. Key applications encompass powertrain, body electronics, chassis control, and safety systems, with powertrain applications representing the largest segment due to the increasing use of magnetic sensors in electric and hybrid vehicle motors. The market is further segmented by vehicle type, covering passenger vehicles, commercial vehicles, and electric vehicles, with electric vehicles driving significant demand due to the need for precise motor control and battery management.

How Are On-Board Magnetic Sensors Being Used Across Automotive Applications?

In powertrain systems, on-board magnetic sensors are used for motor control, providing real-time feedback on motor position, speed, and current, which is critical for efficient energy use in electric vehicles. In body electronics, these sensors enable accurate detection of door and window positions, enhancing safety and convenience. In chassis control systems, magnetic sensors are integrated into ABS (anti-lock braking systems) and ESC (electronic stability control) to monitor wheel speed and improve vehicle stability. ADAS applications, including adaptive cruise control and lane-keeping assistance, also rely on magnetic sensors for steering angle detection and torque sensing, ensuring precision and safety in autonomous and semi-autonomous driving environments.

What Factors Are Driving the Growth in the On-Board Magnetic Sensors Market?

The growth in the On-Board Magnetic Sensors market is driven by several factors, including the increasing adoption of electric and hybrid vehicles, which require advanced sensing technologies for motor control and battery management. The rise of autonomous vehicles and the expansion of ADAS have further fueled demand for precise position and speed sensors. Advancements in sensor technology, such as improved sensitivity, durability, and compact design, have enhanced the performance and reliability of magnetic sensors, supporting broader adoption. The growing emphasis on vehicle safety, efficiency, and emissions reduction has also accelerated the integration of magnetic sensors in powertrain and chassis systems. Additionally, government regulations promoting vehicle safety and emission standards are contributing to increased deployment of on-board magnetic sensors across the automotive sector.

Select Competitors (Total 36 Featured) -

• Asahi Kasei Microdevices Corporation
• Austria Mikro Systeme
• Honeywell International Inc.
• Infineon Technologies AG
• Kohshin Electric
• Melexis NV
• Murata Manufacturing Co., Ltd.
• Sanken Electric
• Sensitec GmbH
• Sensoronix.com
• TDK Corporation
• TE Connectivity

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