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Automotive Sensors Market Size By Sensors (Current, Pressure, Temperature, Speed, Position, Camshaft, Torque, Angle, Level, Gas, Humidity, LiDAR, Infrared, Ultrasonic, Radar, Image), Vehicle Type, Propulsion Type, Application & Forecast, 2023-2032

  • Report ID: GMI2996
  • Published Date: Feb 2023
  • Report Format: PDF

Automotive Sensors Market Size

Automotive Sensors Market size surpassed USD 25 billion in 2022 and is anticipated to register 5% CAGR from 2023 to 2032.  The paradigm shift toward sustainable mobility is expected to have a positive impact on the industry outlook.

Automotive Sensors Market

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The demand for hybrid and electric vehicles (EVs) has increased substantially due to the growing environmental concerns associated with conventionally powered vehicles. The increasing fossil fuel emissions and the intensifying carbon footprint of the automotive sector has accelerated consumer inclination towards zero-emission mobility, thus fueling the need for automotive sensors. In April 2022, the U.S. Department of Transportation’s National Highway Traffic Safety Administration introduced new fuel economy standards to boost fuel efficiency by 8% annually for model years 2024-25 and 10% on annual-basis for 2026.

High cost of LiDAR sensors may impede adoption of automotive sensors

The rising costs associated with LiDAR sensors could hamper the automotive sensors market demand. In addition to the high initial price, LiDAR sensors require substantial maintenance to prevent the risk of malfunctions associated with moving components such as GPS receivers, lasers, and scanners. The ongoing technological advancements and the increasing penetration of next-generation solutions are also adding to the price of manufacturing. Hence, the high cost of implementation of LiDAR technologies and advanced products may impede the overall automotive sensor market growth.


Automotive Sensors Market Analysis


Automotive Sensors Market Volume Share, By Propulsion Type

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The automotive sensors market share from the gasoline segment is expected to cross USD 30 billion by 2032. Engine-mounted sensors are extensively used in vehicles with internal combustion engines to measure pressure, air/fuel percentage and temperature. Gasoline-based engines are continuing to dominate the automotive sector to provide lower costs, and reduced noise & vibrations. According to the U.S. Energy Information Administration (EIA), despite the ongoing transition to EVs and zero-emission vehicles, motor gasoline remains the most commonly used transportation fuel.

Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of automotive sensors surpassed USD 25 billion in 2022 and is anticipated to record 5% CAGR from 2023 to 2032, according to the GMI report.

The industry valuation from radar sensors is estimated to cross USD 10 billion by 2032 owing to increasing use in autonomous cars for imaging and navigation.

The Asia Pacific market is poised to attain 5% gains between 2023 and 2032 driven by the increasing government efforts to promote carbon-neutral vehicles.

Panasonic Corporation, Sensata Technologies, Texas Instruments, Renesas Electronics Corporation, and Continental AG are some of the key manufacturers of automotive sensors.

Automotive Sensors Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 26
  • Tables & Figures: 1143
  • Countries covered: 18
  • Pages: 825
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