Passenger Car Sensors Market

Passenger Car Sensors Market Size (2023 - 2028):

The Global Passenger Car Sensors Market was worth US$ 156 billion in 2022 and is anticipated to reach a valuation of US$ 252.93 billion by 2028 and is predicted to register a CAGR of 8.54% during 2023-2028.

Market Overview:

The car sensor is employed to point to the pollution level of the car and manage the engine thanks to the introduction of varied federal emissions standards, the utilization of sensors within the coach market is increasing, leading original equipment manufacturers (OEMs) to strike a balance with government regulations, robustness, and manufacturability. The use of sensors in the passenger car has taken the complexity of vehicle electronics to new levels. The technology developed helps OEMs cope with increasing pressure from the government.

In order to meet the requirements of car owners, the passenger car sensor market has undergone a number of developments. Microprocessor-based sensors were initially used to monitor emissions in passenger cars and prevent unwanted accidents. These sensors detect all the changes that occur in the auto parts and indicate them to the user. Sensors in passenger cars are generally used in body, powertrain, and chassis monitoring, where they examine vacuum, pressure, temperature, currents, and other related factors.

Market Drivers:

Strict regulations create room for advanced passenger car features, including the tire pressure monitoring system, electronic stability control, and occupant detection. Original equipment manufacturers (OEMs) have been under constant pressure to equip their vehicles with advanced safety systems. North America, Japan, China, and South Korea are the main countries where these regulations have been imposed. Increasing interest among consumers is supporting the need for sensors such as humidity sensors, GPS systems, and adaptive lighting sensors.

Market Restraints:

However, there are some limitations associated with the global passenger car sensor market, including its high prices. Low penetration in developing countries and electrification of the powertrain segment are areas of opportunity for the market. The introduction of ADAS is another growth opportunity within the passenger car sensors market, where driver safety is greatly increased by minimizing the consequences of diver failures. ADAS functions as a co-pilot system providing the driving force with situation-based instructions, advice and warnings, also as information associated with road safety regulations.

Market Recent Developments:

• CTS Corporation announced that it has completed the acquisition of Filter SensingTechnologies (FST).
• CTS Corporation announced that CTS Automotive Products has received three new production schedules to supply sensors for an active manifold application in North America and for two turbocharger applications.
• To achieve fully automated driving based on AI - Basic technologies R&D project at Denso.
• German technology company Bosch recently announced a new indoor surveillance system with cameras and artificial intelligence that it hopes will improve the safety of drivers and passengers.
• Global technology company Continental unveiled a compact passenger car radar system for accurate detection of vehicle surroundings.

PASSENGER CAR SENSORS MARKET REPORT COVERAGE:

Market Segmentation:

Passenger Car Sensors Market - By Sensor Type:

• Pressure Sensors
• Position Sensors
• Speed Sensors
• Temperature Sensors
• O2 and NOx Sensors
• Safety and Comfort Sensors
• Others

Passenger Car Sensors Market - By Application:

• Powertrain/Drivetrain
• Exhaust
• Interior/Comfort
• Body Control
• Driver Assistance System

The market for body monitoring in passenger car sensors business is mainly driven by factors such as strict safety regulations, weight reduction, and multiplex compatibility, while the market for systems Interiors and comfort increases due to the demand for comfort from customers, along with safety.

Market Regional Analysis: 

The Global Passenger Car Sensors Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America's largest market is primarily driven by countries like the United States and Canada due to increased technological advancements in passenger car sensors and established players supplying these sensors. Europe will experience significant growth due to its large manufacturing base. Companies in the region are focused on penetrating untapped international markets. Asia-Pacific is expected to show the highest growth in the global passenger car sensor market. A favourable regulatory framework will mainly support the growth of the area during the forecast period. For example, several governments in the region have required rear-view camera sensors and anti-lock braking systems (ABS) to be installed on all vehicles. Furthermore, increased R&D activities in the sensor industry will provide stable growth prospects for the size of the industry until 2024.

Impact of COVID-19 on the Passenger Car Sensors Market:

Coronavirus is an unrivalled global public health emergency that has affected nearly every industry, so long-term effects are expected to affect automobile industry growth during the forecast period. The report provides insights on COVID-19 taking into account changes in consumer behaviour and demand, purchasing patterns, supply chain deviation, the dynamics of current market forces, and significant interventions from governments. COVID-19 is a pandemic disease that has triggered a serious global pandemic, starting in China and in almost all regions. It has a huge effect on almost everyone, including human life, the world economy, the automotive industry, manufacturing, consumer goods, defense, and surveillance, among others, due to declining demand between utilization rates. The unavailability of the vaccine to control or prevent the spread of the disease is one of the main reasons the lockdown was introduced to prevent and reduce the spread of the transmission. For monitoring disease transmission, the lockdown is considered the best response found in many countries to date, but it also has a negative economic impact. Currently, however, factories are beginning to reopen in almost all countries taking preventive measures such as 20-50% field workers, social distancing, drastic hygiene measures, and others to help the economy. It strengthens the economy and tends to lower the rate of contraction at all times. The sensors are used to minimize fuel consumption and reduce vehicle weight on board. Therefore, the increasing/decreasing demand for motor vehicles has a direct impact on the demand for passenger car sensors.

Market Key Players:

1. Continental AG
2. Robert Bosch
3. Denso Global
4. CTS Corporation
5. Delphi Technologies
6. Allegro Microsystems
7. Analog Devices
8. Elmo’s Semiconductor
9. Infineon Technologies
10. TRW Automotive
11. Coachmen Recreational Vehicle Company
12. Eclipse Recreational Vehicles Inc.
13. Thor Industries Inc.
14. Gulf Stream, Skyline Corporation
15. Fleetwood RV
16. Forest River, Inc.
17. Universal Trailer Corporation