Automotive Temperature Sensor Market: Opportunities and Forecast Assessment, 2020–2027
The GMI Research expects the automotive temperature sensor market to expand at a higher rate. From a regional perspective, the Asia-Pacific is expected to increase at a faster CAGR due to the expansion in the number of vehicle manufactured, especially in economies like China, Japan, India, and South Korea.
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Automotive Temperature Sensor Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The global automotive temperature sensor market is predicted to witness an upsurge in demand during the forecast period due to the development of autonomous vehicles, increasing production of automotive, and rising application of temperature sensors in vehicles for different automotive systems, which include engine cooling system, engine, the HVAC system, and powertrain management system. Moreover, the increasing concern for environmental protection, strict government regulation associated with fuel economy, gas emission control, and high adoption of green vehicles are certain factors that are expected to fuel the growth of the automotive temperature sensor market size.
The rising adoption of electric vehicles, along with the increasing application of temperature sensors in several applications that include battery management system, electric motor, on-board charger, and charging cable in electric cars are further opening new doors for the growth of the market over the coming years. As per the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales with a 40% year-on-year upsurge and amounted to 2.6% of the global car sales. This key driver will propel the growth of the market, thus fuelling the growth of the automotive temperature sensors market. On the other hand, the driver that is hindering the growth of the market during the forecast period include the rising manufacturing cost of vehicles. In addition to this, the emergence of the COVID-19 pandemic has negatively influenced the growth of the automotive temperature sensor market due to the interruption in the supply chains of automotive OEMs production.
Automotive Temperature Sensor Market’s leading Manufacturers:
- Denso Corporation
- NXP Semiconductors N.V.
- Sensata Technologies, Inc.
- TE Connectivity
- BorgWarner Inc.
- Panasonic Corporation
- Continental AG
- Robert Bosch GmbH
- TDK Corporation
- Infineon Technologies AG
Automotive Temperature Sensor Market Segmentation:
Segmentation by Application:
- Engine
- Transmission
- HVAC
- Exhaust
- Thermal Seats
Segmentation by Product Type:
- Thermistor
- Resistance Temperature Detector
- Thermocouple
- IC Temperature Sensor
- MEMS Temperature Sensor
- Infrared Sensor
Segmentation by Vehicle:
- Passenger Car
- Commercial Vehicle
Segmentation by Region:
- North America
o United States of America
o Canada
- Asia Pacific
o China
o Japan
o India
o Rest of APAC
- Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
- RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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