Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 8.64 Billion | USD 15.13 Billion | 6.43% | 2023 |
Zion Market Research has published a report on the global Automotive Temperature Sensor Market, estimating its value at USD 8.64 Billion in 2023, with projections indicating that it will reach USD 15.13 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.43% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Automotive Temperature Sensor industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
The report offers an assessment and analysis of the Automotive Temperature Sensor market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion).
Automotive temperature sensors are utilized for measuring temperatures at many locations in the vehicle. It mainly comprises of infrared equipment, a resistance temperature detector, a thermistor, and a thermocouple. They play a key role in regulating fuel emissions. Thermocouples are utilized for measuring high temperatures and an infrared device is used for testing whether direct interaction with any object is desirable or not. Apparently, resistance temperature detectors respond to the alterations in temperatures linearly along with authenticity. Furthermore, thermistors offer information about the direction of change in resistance w.r.t rise in the temperature.
The need for improving the performance of vehicles along with the growing trend toward reduction of fuel emissions will steer the market trends. The product gives appropriate feedback pertaining to parameters to be regulated. In addition to this, a rise in the inputs or outputs from HVAC systems will propel the market growth in the years ahead. Apart from this, the massive popularity of advanced automatic control systems and the need for comprehensive data pertaining to the status of automobiles will steer the market expansion over the ensuing years. In addition to this, strict government laws pertaining to emission control will catapult the growth of the market in the years to come. Nonetheless, high costs of automotive temperature sensors will result in rising in the production costs of automobiles, thereby hampering the industry growth over the foreseeable future.
Report Attributes | Report Details |
---|---|
Report Name | Automotive Temperature Sensor Market |
Market Size in 2023 | USD 8.64 Billion |
Market Forecast in 2032 | USD 15.13 Billion |
Growth Rate | CAGR of 6.43% |
Number of Pages | 110 |
Key Companies Covered | Delphi, Continental, Panasonic, Robert Bosch, and TDK Corporation |
Segments Covered | By Application Type, By Product Type, By Technology, By Usage, By Vehicle, By Electric Vehicle Application, By EV Charging Technology And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The automotive temperature sensor market is segmented by product type, application, vehicle type, and region.
In terms of product type, the market includes thermistors, resistance temperature detectors (RTDs), infrared temperature sensors, thermocouples, and MEMS-based sensors, each offering different levels of precision and response times.
By application, temperature sensors are used in engine systems, exhaust systems, HVAC systems, and battery management in electric vehicles, with engine and exhaust systems being the largest segments due to the need for accurate temperature monitoring to ensure vehicle performance and emission control.
Vehicle types include passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs), with passenger cars holding the largest share due to increasing consumer demand for safety and comfort features.
Regionally, the market is divided into North America, Europe, Asia-Pacific, and Rest of the World, with Asia-Pacific leading due to the region's high vehicle production and increasing adoption of advanced automotive technologies.
Asia Pacific Market To Attain Scalable Heights Over 2024–2032
The growth of the market in the Asia Pacific over the period from 2024 to 2032 is owing to the enforcement of strict fuel emission laws along with large-scale production of vehicles in countries like China, Vietnam, India, Malaysia, Thailand, Japan, and South Korea. The rise in demand for ADAS systems in the region will further drive the regional market growth over the estimated timespan.
Key players profiled in the report include
FrequentlyAsked Questions
Need for improving performance of vehicles along with growing trend towards reduction of the fuel emissions will steer the market trends over forecast timespan.
The CAGR of the industry is expected to be nearly approximately 6.43% during the forecast timeline.
Asia Pacific will contribute remarkably towards the global market share over the estimated timeline.
The key market players include Delphi, Robert Bosch, Panasonic, Continental, and TDK Corporation.
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