Electric Vehicle (EV) Sensor Market Size By Product (Current Sensor, Temperature Sensor, Positions Sensor, Pressure Sensor, Speed Sensor, Lidar Sensor, Radar Sensor, Image Sensor), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Application {Bat

Electric Vehicle (EV) Sensor Market Size By Product (Current Sensor, Temperature Sensor, Positions Sensor, Pressure Sensor, Speed Sensor, Lidar Sensor, Radar Sensor, Image Sensor), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Application {Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric Vehicles (PHEV), Fuel Cell Electric Vehicles (FCEV)}, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 – 2030

The electric vehicle sensor market is poised to witness substantial growth over the forecast period. This is credited to the growing demand for automated transmission in passenger vehicles, which has increased the procurement of electric vehicle sensors.

Key players in the automotive sector are investing to expand the EV manufacturing ecosystem to gain a competitive advantage in the EV sensor industry.

For instance, in May 2022, Hyundai Motor Group inked an agreement with the State of Georgia for the construction of its first dedicated battery and full EV facilities in the United States. This investment decision was part of the firm’s broader objective of broadening its presence in the U.S. electric mobility domain. Developments such as these may add impetus to EV sensor market expansion over the forecast spell.

Additionally, battery management systems are being increasingly integrated with temperature sensors and current sensors to measure and monitor voltage, battery charge, and pack temperature, driving industry growth. The electric vehicle sensor market is bifurcated in terms of product, vehicle type, application, and region.

With respect to product, the industry is segmented into speed, pressure, radar, lidar, current sensor, positions, temperature, image, and others. Of these, the speed sensor segment is anticipated to reach more than 300 units by 2030.

Advancements in vehicle technology for passenger safety systems and automated driving are expected to promote the adoption of speed sensors. These EV sensors are integrated to transmit data to the systems that control the rotary speeds of wheels, crankshafts, and motors.

Furthermore, the other sensors segment is anticipated to reach over USD 500 million by 2030. Heart rate monitoring, blood pressure monitoring, allergen/pollen monitoring, and driver-drowsiness detection are some of the key functionalities propelling industry growth from this segment.

In terms of vehicle type, the market is bifurcated into commercial vehicles and passenger cars. The commercial vehicle segment was valued at more than USD 1 billion in 2021, driven by the growing demand for safe operation and transportation.

Based on application, the electric vehicle sensor industry is segmented into FCEV, PHEV, BEV, and HEV. The PHEV segment registered a valuation of more than USD 1 billion in 2021. Growing concerns associated with climate change, and air quality in urban areas are anticipated to bolster the adoption of plug-in electric vehicles (PHEV). These vehicles, which are recharged using external electrical sources such as wall sockets, demonstrate strong potential to mitigate harmful emissions and fuel consumption for better population health.

Regionally, the Middle East & Africa EV sensor market is expected to reach more than 100 units by 2030. This growth can be accredited to increased government initiatives to attain green mobility by 2030.