Global Powertrain Sensors Market to Reach $27.9 Billion by 2030
The global market for Powertrain Sensors estimated at US$22.2 Billion in the year 2023, is expected to reach US$27.9 Billion by 2030, growing at a CAGR of 3.3% over the period 2023-2030. ICE Powertrain Sensors, one of the segments analyzed in the report, is expected to record 3.6% CAGR and reach US$19 Billion by the end of the analysis period. Growth in the EV Powertrain Sensors segment is estimated at 2.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $6 Billion, While China is Forecast to Grow at 4.9% CAGR
The Powertrain Sensors market in the U.S. is estimated at US$6 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$5.5 Billion by the year 2030 trailing a CAGR of 4.9% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.4% and 3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.
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