The global automotive temperature sensors market was valued at USD 4 billion in 2016 and is expected to surpass USD 5 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global automotive temperature sensors market, under its automotive electronics portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Continental, Sensata Technologies, Bosch, Delphi, and NXP Semiconductors.
According to Siddharth Jaiswal, a lead analyst for automotive electronics research at Technavio, “Increasing end-user concerns regarding vehicle security, environmental safety, and need for better performance are the major factors affecting the market positively. These factors are increasing the number of temperature sensors that increase the efficiency of powertrain operation and provide comfort through climate control.”
Pressure sensors, temperature sensors, position sensors, and speed sensors are some of the sensors that offer high efficiency to the powertrain. Therefore, consumer prefers automotive powertrain sensor suppliers because their demands are inclined toward better safety and performance features. The prospect of mass volume consumption is compelling the penetration of level sensor in the mid and low-end segment cars.
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Rise in new EV launches to drive temperature sensors market
In addition to the sensors for a traditional EV, the advanced powertrain systems in these vehicles are expected to provide a significant boost to the automotive temperature sensors market. For instance, one of the leading car companies Chevrolet has announced the launch of Chevrolet Bolt, an EV with a range of 200 miles. Besides this, other major vendors such as Volkswagen also unveiled its BUDD-e concept, an all-EV with an estimated range of 233 miles. These new releases of all-EVs and the acceptance by consumers will drive the market for temperature sensors during the forecast period.
Increasing acceptance of non-contact temperature sensors such as IR sensor in automotive market
The growing demand for high-temperature sensors is expected to increase the adoption of infrared (IR) sensors during the forecast period. IR sensors are non-contact sensors that measure the heat emitted by an object in the form of infrared rays. These sensors are more efficient than contact sensors. Texas Instrument is one of the prominent players in the automotive IR sensor market. Technavio expects many other vendors to adopt these sensors, owing to the rising demand for non-contact sensors in the automotive market.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Automotive Temperature Sensors Market 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Automotive Pressure Sensors Market 2017-2021
- Global Automotive Sensors Market 2016-2020
- Global Automotive Under-the-hood Electronics Market 2016-2020
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