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Automotive Sensors Market Size, Share & COVID-19 Impact Analysis, By Sensor Type (Temperature Sensor, Pressure Sensor, Speed Sensor, Position Sensor, Others), By Application Type (Powertrain, Chassis, Exhaust, ADAS, Others), By Vehicle Type (Passenger Car, LCV, HCV) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101690

 

KEY MARKET INSIGHTS

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The global automotive sensors market size was USD 7,858.6 million in 2019 and is projected to reach USD 8,535.6 million by 2027, exhibiting a CAGR of 3.0% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Automotive Sensors Market

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Sensors are essential components of electronic control systems in automobiles. They are used to monitor a wide range of vehicle parameters such as fuel consumption, level of emissions, and airbag deployment, among others. Several types of sensors such as oxygen sensors, temperature sensors, mass air flow sensors, and coolant sensors are extensively utilized in the automotive industry. These sensors ensure the efficient and safe operation of the vehicle by detecting, analyzing, and controlling the performance of internal as well as external environment of the vehicle. 


COVID-19 Pandemic to Shrink Product Adoption in the Short-Term


Over the short to mid-term, investors and Original Equipment Manufacturers (OEMs) are expected to reduce innovation funding to effectively control day-to-day cash flow. Key manufacturers are expected to reprioritize investment opportunities and strategic plans. Hence, such pandemic-induced measures may lead to delay in the development and adoption of advanced technologies such as autonomous driving (AD), for example, suspension of autonomous vehicle (AV) testing.


SAE Level 3, 4, and 5 autonomous vehicles (vehicles that provide full and partial automation in driving) utilize numerous ADAS/AD sensors that are significantly expensive as compared to those used for Level 1 and 2. Delayed R&D funding impacts automotive developers' ability to incorporate technologically advanced sensors such as 3D imaging sensors and time-of-flight proximity sensors. These sensors are vital to achieving a higher level (4 and 5) of autonomous driving and require significant testing to calibrate their features such as object detection. However, lack of funding will result in manufacturers' inability to provide cost reduction for such sensors. This, in turn, will lead to a delayed deployment of such advanced technology.


Another factor is the downshift in production. For instance, 2.5 million passenger cars were removed from production schedules owing to assembly plant closures in North America and Europe. Passenger cars heavily utilize sensors for functions such as tire pressure monitoring and fuel pressure monitoring.  Hence, reduced production directly translates to a significant loss of revenues and profitability in 2020, thereby reducing the R&D funding by key players in the market for the automotive sensors. All in all, the automotive industry will experience a low adoption of these sensors over the short term and decreased development capital in the next few years.


LATEST TRENDS


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Increasing Adoption of Advanced Technologies to Fuel Growth


Auto manufacturers are promoting the replacement of potentiometers or optical systems that utilize conventional position-sensing mechanisms with non-contact 3D magnetic sensors. These sensors reduce errors by a substantial margin owing to wear or contamination, save space, and ensure stable measurements in high-temperature conditions.


3D magnetic sensing enables manufacturers to optimize form factors throughout the vehicle such as position sensing for gear sticks, pedals, and moving parts in the transmission. For instance, suppliers such as STMicroelectronics and Elmos are working on 3D gesture sensing that can improve driver concentration and avoid manual control of functions such as vehicle lighting and infotainment among others. Hence, the greater adoption of advanced technologies is a positive trend influencing the automotive sensors market growth.


DRIVING FACTORS


Rising Demand for Pressure Sensors to Augment Growth


To satisfy passenger car safety requirements, modern automotive restraint systems utilize side airbag pressure sensors. The pressure sensor is assembled within the car side doors and delivers digital crash signals to the central airbag unit. Furthermore, in gasoline and diesel engines, air pressure sensor is used to optimize engine efficiency by effectively controlling spark advance. Hence, the increasing applications of pressure sensors in the engine and safety system of the vehicle are anticipated to drive the growth of this market.


Increasing Growth of Autonomous Vehicles to Fuel Demand for Automotive Sensors


Owing to the increasingly stringent regulations and safety tests (in particular, emergency brake assist) and growing awareness regarding vehicle safety, the autonomous capabilities of commercially available vehicles are expected to increase exponentially over the next few years. For example, functions such as cruise control and lane-keep assist are mandatory on all vehicles in developed countries with upcoming regulations for blind-spot monitoring, particularly in Europe.


These vehicles require long-range radar sensors for features such as adaptive cruise control and around two medium-range backward-facing radar sensors to enable blind spot detection. Furthermore, up to 12 ultrasonic sensors are necessary for features such as parking assistance. Thus, greater demand for autonomous driving features is expected to drive the adoption of automotive sensors.


RESTRAINING FACTORS


High Cost and Limitations under Severe Weather Conditions to Restrain Growth


Owing to the small quantities being produced, achieving cost reduction up to target levels for sensors used in ADAS systems has not been possible. Furthermore, the majority of the sensors currently in use in automobiles have restricted signal bandwidth and measurement range, which creates difficulty in distinguishing between system noise and signals i.e. road obstacles. Also, in less-than-ideal environments such as blizzards or rainfall, tracking moving objects is especially difficult. Together, these factors are expected to restrain the growth of the market.


SEGMENTATION


By Sensor Type Analysis


Position Sensors Held the Largest Market Share in 2019  


Based on the type of sensor, the market is segmented into speed sensors, position sensors, pressure sensors, temperature sensors, and others. Position sensors are used in vehicles to determine steering wheel position, pedal position, manifold flap position, and the position of numerous actuators, valves, among other applications. They can be used to detect and convey data regarding roof or seat position, roof or door closure, and activate basic functions of the automobile accordingly. Hence, owing to the extensive range of applications, the position sensors segment is expected to dominate the automotive sensors market share over the forecast period.


Pressure sensors are an essential part of automotive safety systems and engine operation. Digital crash signals sent via airbag pressure sensors enable swift deployment of airbags and spark advance can be effectively controlled by air pressure sensors that enable greater engine efficiency. These factors are responsible for the increase in demand for this segment.


The temperature sensors segment is also expected to show an augmented growth in the market as they are necessary for monitoring parameters such as transmission fluid temperature, exhaust gas temperature, and engine oil temperature among others, and ensuring reliable operation of the vehicle engine over its lifespan.


By Application Analysis


ADAS Sensors Segment to Lead the Market Backed by Rising Demand for Driving Assistance Features


By application, the market is divided into powertrain sensors, chassis sensors, exhaust sensors, ADAS sensors, and others. ADAS sensors include LiDAR, cameras, and radar. Cameras and radars are especially used in combination for level 1 and level 2 autonomous vehicles for safety-related applications. For instance, a five-star rating awarded by the New Car Assessment Programme (NCAP) requires a high level of safety functions, which is fueling the growing demand for these radars and cameras. 


Other ADAS sensors include ultrasonic sensors, airbag sensors, and tire pressure sensors, among others, which further enhances vehicle safety. Hence, these factors are expected to boost the growth of this segment over the forecast period. Important functions such as steering, acceleration, and braking are monitored by chassis sensors. Greater emphasis on improving vehicle maneuverability and occupant safety is expected to boost the adoption of chassis sensors over the next few years.


Powertrain sensors enable optimal fuel consumption by monitoring parameters such as temperature and pressure of the vehicle and providing the information to the engine control unit. Hence, these sensors can enable greater fuel efficiency. These factors are responsible for the high share of powertrain sensors in the market.


By Vehicle Type Analysis


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Passenger Car Segment Led the Market Share in 2019


Based on vehicle type, the market is segmented into passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The need to optimize fuel consumption and the growing demand for personal mobility solutions has increased demand for automotive sensors used in passenger cars. 


Sensors such as mass airflow sensors, coolant sensors, and oxygen sensors assist the vehicle by controlling the emission rate, monitoring temperature changes, and sending signals to the engine control unit to adjust spark timing and provide accurate fuel delivery. Thus, as a result of greater consumer demand for safety-oriented and environment-friendly vehicles, the passenger car segment is expected to hold the largest share of the market.


REGIONAL INSIGHTS


Europe Automotive Sensors Market Size, 2019 (USD Million)

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The market in Asia Pacific is characterized by a rise in the disposable income of the middle-class population and cost benefits for OEMs such as low automotive production costs and the availability of low-cost labor. However, the rising number of fatalities owing to vehicular accidents has increased over the last few years, which has compelled regulatory bodies to implement stringent safety and emission norms. For example, for all cars manufactured after July 1, 2019, in India, the Ministry of Road Transport approved the mandatory implementation of seat-belt reminders, airbags, alert system, reverse parking sensors (RPS) for speeds beyond 80 km/h, and manual override for the central locking system in case of electronic system failure. The RPS and airbags are mandatory for LCVs as well. Furthermore, existing vehicle car models also need to comply with these regulations by October 1, 2019. Therefore, the increased adoption of these features has created high demand for vehicle sensors. Hence, owing to enhanced focus on vehicle safety systems in emerging economies such as India and China, Asia Pacific is expected to hold the largest share of the market.


Safety and fuel efficiency norms are extremely stringent for passenger cars in Europe. Furthermore, safety regulations for commercial vehicles have also increased with features such as drowsiness and attention detection, tire pressure monitoring, and vulnerable road user detection and alert systems among others to be mandatory for trucks, buses, and vans from 2022. These factors are expected to fuel the demand for automotive sensors in Europe over the forecast period.


North America is expected to show considerable growth in the market. The rise in the sale of electric vehicles and the early adoption of advanced driving assistance features are some of the factors attributed to the high adoption of these sensors in this region.


KEY INDUSTRY PLAYERS


Infineon Technologies AG, Robert Bosch GmbH and NXP Semiconductors are Leading Players in the Market


Key players in the global market include STMicroelectronics, Infineon Technologies AG, Robert Bosch GmbH, and NXP Semiconductors, among others. Investment in advanced technologies has increased over the last few years. For instance, high-resolution sensors produced by companies such as NXP, Elmos, Infineon, and Allegro Microsystems are being used with steer-by-wire systems. The steering sensor data can be then combined with other information such as the length of the journey and use of turn signals via a driver-awareness algorithm to warn the driver if the level of fatigue exceeds a certain threshold.


Driver fatigue accounts for nearly twenty percent of road accidents. Thus, sensor developers including tier-one suppliers are expected to increase R&D funding for enhancement of safety-oriented sensors that offer high performance as well as lower power consumption to increase their commercial viability among automotive manufacturers.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • June 2020 – Vitesco Technologies, the powertrain business area of Continental AG, signed a development partnership with ROHM Semiconductor for silicon carbide power devices. Vitesco will integrate this technology in high-power electronics for electric vehicles.

  • April 2020 – Infineon Technologies acquired Cypress Semiconductor, a leading company in semiconductor design and manufacturing. The acquisition enables Infineon to expand its portfolio of automotive semiconductors, sensors, and microcontrollers, among other applications.

  • January 2020 – Bosch became the first company to develop long-range lidar sensors, the first lidar system suitable for automotive use.


REPORT COVERAGE


An Infographic Representation of Automotive Sensors Market

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The automotive research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading applications of the product launches. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report delivers in-depth market analysis of several factors that have contributed to its growth rate over recent years.


Report Scope & Segmentation











































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Million) & Volume (Thousand Units)



Segmentation



By Sensor Type



  • Temperature Sensor

  • Pressure Sensor

  • Speed Sensor

  • Position Sensor

  • Others



By Application Type



  • Powertrain

  • Chassis

  • Exhaust

  • ADAS

  • Others



By Vehicle Type



  • Passenger Car

  • Light Commercial Vehicle (LCV)

  • Heavy Commercial Vehicle (HCV)



By Geography



  • North America (the U.S., Canada, and Mexico)

  • Europe (the U.K., Germany, France, and Rest of Europe)

  • Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia- Pacific)

  • Rest of the World



Frequently Asked Questions

Fortune Business Insights says that the global automotive sensors market size for automotive sensors was USD 7858.6 million in 2019 and is projected to reach USD 8535.6 million by 2027.

In 2019, the Europe market value stood at USD 1865.8 million.

Registering a CAGR of 3.0%, the market will exhibit good growth in the forecast period (2020-2027).

The passenger car segment is expected to be the leading segment in this market during the forecast period.

Increasing stringency of emission and safety norms for vehicles is the key factors driving the growth of the market.

STMicroelectronics, NXP Semiconductors, and Robert Bosch GmbH are the major players in the global market.

Asia Pacific held the largest share in the market in 2019.

Increasing adoption of driving assistance features such as parking assistance and emergency brake assist that utilize a large number of sensors is expected to drive the adoption of these sensors over the forecast period.

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Automotive Sensors Market Size, Share and Global Industry Trend Forecast till 2026
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