The automotive temperature sensor global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Automotive Temperature Sensor Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The automotive temperature sensor market size has grown steadily in recent years. It will grow from $9.28 billion in 2023 to $9.69 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to increased adoption of electronic components in vehicles, growing focus on energy efficiency and emission reduction, advancements in automotive safety regulations, rise in consumer demand for comfort and convenience features, expansion of the electric vehicle market.
The automotive temperature sensor market size is expected to see strong growth in the next few years. It will grow to $12.02 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to integration of temperature sensors in autonomous vehicles, surge in demand for electric and hybrid vehicles, emphasis on in-cabin comfort and climate control systems, growing implementation of advanced driver assistance systems (adas), expansion of the internet of things (iot) in automotive applications. Major trends in the forecast period include miniaturization of temperature sensor components, shift towards mems (micro-electro-mechanical systems) technology, development of smart temperature sensing solutions, increasing use of temperature sensors in powertrain management, integration of temperature monitoring in connected car platforms.
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Scope Of Automotive Temperature Sensor Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
An increase in the prevalence of autonomous vehicles is expected to propel the growth of the automotive temperature sensor market going forward. An autonomous vehicle refers to a motor vehicle that operates without the support of human effort to drive on the road. Automatic vehicles use temperature sensors to keep a measure of vehicle engine temperatures and accordingly switch on the cooling fans to maintain an optimally required engine temperature. This helps to increase the vehicle’s performance. For instance, in December 2022, according to a report published by the Insurance Institute for Highway Safety, a US-based non-profit organization, there are projected to be 3.5 million autonomous vehicles on American roads by 2025. Additionally, 4.5 million autonomous vehicles are expected to be on the road by 2030. Therefore, the increase in the prevalence of autonomous vehicles is driving the automotive temperature sensor market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The automotive temperature sensor market covered in this report is segmented –
1) By Product Type: Thermistor, Resistance Temperature Detector, Thermocouple, IC Temperature Sensor, Mems Temperature Sensor, Infrared Sensor
2) By Technology: Contact, Non-Contact
3) By Usage: Gas, Liquid, Air
4) By Vehicle: Passenger Cars, Commercial Vehicle
5) By Application: Engine, Transmission, HVAC, Exhaust, Thermal Seats
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Regional Insights –
Asia-Pacific was the largest region in the automotive temperature sensor market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the automotive temperature sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the automotive temperature sensor market report are Continental AG, Panasonic Holdings Corporation, Sensata Technologies Holding plc, NXP Semiconductors NV, Analog Devices Inc., Microchip Technology Inc., TE Connectivity Ltd., Rohm Semiconductor, Murata Manufacturing Co Ltd, ZF Friedrichshafen AG, Amphenol Corporation, Denso Corporation, Locon Sensor Systems Inc, MTI Industrial Sensors, Temperature Specialists Inc, Robert Bosch GmbH, Texas Instruments Incorporated, Siemens AG, Honeywell International Inc., Asea Brown Boveri Ltd., Endress+Hauser Management AG, Maxim Integrated, Emerson Electric Co., Tokyo Denki Kagaku Corporation, Infineon Technologies AG, Kongsberg Gruppen, Delphi Technologies, Automotive Electronics Council (AEC), Semiconductor Components Industries LLC, Melexis NV
Table of Contents
1. Executive Summary
2. Automotive Temperature Sensor Market Report Structure
3. Automotive Temperature Sensor Market Trends And Strategies
4. Automotive Temperature Sensor Market – Macro Economic Scenario
5. Automotive Temperature Sensor Market Size And Growth
…..
27. Automotive Temperature Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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