The global electric vehicle sensor market accepted to expand at a CAGR of 16.6%, reaching a valuation of more than US$ 37.1 Billion by 2032.
Rising worldwide electric vehicle production, the implementation of strict regulations, expanding demand for vehicle electrification, and rising preference for comfort and safety in vehicles are key factors influencing demand for EV sensors.
Technology breakthroughs have led to the development of electric vehicles over time. These cars now have updated electronics for a number of uses that are powered by the battery pack of the vehicle. Temperature, current, and pressure variations are examples of technological improvements. Temperature and load variations have been shown to be a problem for electric vehicles.
In order to ensure that any change outside of their typical working range is recognised and adjusted while the vehicle is being driven, they are constantly inspected. There will likely be a greater demand for EV sensors over the forecast period, driven by the aforementioned factors.
Get Access to Sample Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-14125
The use of sensors in EVs has expanded due to the increase in demand for luxury vehicles. In addition, a growing consumer preference for enhanced safety features in both passenger and light commercial vehicles will fuel market expansion.
“Increased electric vehicle production, technological improvements, and growing popularity of ADAS in passenger vehicles will continue pushing sales of electric vehicle sensors over the forecast period,” says an FMI analyst.
Key Takeaways:
- Based on product type, sales of positions sensors are estimated to increase at a 17.5% CAGR through 2032.
- In terms of sales channel, the OEM segment will hold 93% of the total market share in 2022.
- By propulsion, BEVs are projected to account for more than 70% of the total market share in 2022.
- By 2032, East Asia is anticipated to dominate the market, holding a share of 43%.
- China is estimated to create an absolute dollar opportunity of more than US$ 11.4 Bn.
Competition Landscape
Key electric vehicle sensor manufacturers are introducing the most cutting-edge technologies. In addition to this, collaborations, acquisitions, and mergers are expected to remain prominent growth strategies adopted by leading players.
Some of the key electric vehicle sensor manufacturers are Analog Devices Inc., Denso Corporation, Amphenol Advanced Sensors, Infineon Technologies AG, Allegro MicroSystems, LLC, ams AG, Kohshin Electric Corporation LEM, Renesas Electronics Corporation, Sensata Technologies, STMicroelectronics, Melexis, Texas Instruments Incorporated, Vishay Intertechnology Inc, NXP Semiconductors and others.
Request for Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-14125
Key Segments Covered in Electric Vehicle Sensor Industry Analysis
Product Type:
- Temperature Sensors
- Current Sensors
- Position Sensors
- Pressure Sensors
- Speed Sensors
Sales Channel:
- OEM
- Aftermarket
Propulsion:
- Battery Electric Vehicles (BEVs)
- Hybrid Electric Vehicles (HEVs)
- Plug-In Hybrid Electric Vehicles (PHEVs)
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Speak to our Research Expert:
https://www.futuremarketinsights.com/ask-question/rep-gb-14125
Electric Vehicle Sensor Market Projection
Increased use of position sensors in the electric vehicle industry, increase in demand for automotive sensors in hybrid and electric cars and rise in use of custom made electronic devices are the most notable factors driving the electric vehicle sensor market growth. Technological advances and expansion in the automotive industry are projected to provide profitable prospects for the market internationally. During the forecast period, each of these factors is expected to have a significant impact on the automotive sensor market.
About Us
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Future Market Insights Inc.
Christiana Corporate,
200 Continental Drive,
Suite 401, Newark,
Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse latest Market Reports: https://www.futuremarketinsights.com/reports
LinkedIn | Twitter | Blogs
