How has the powertrain sensor market evolved, and where is it heading next?
The powertrain sensor market size has grown strongly in recent years. It will grow from $22.03 billion in 2024 to $23.43 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to increasing infrastructural developments, increasing purchasing power of the people, increasing popularity of e-mobility, growing demand for luxury vehicles and electric vehicles, and increasing adoption of powertrain sensors.
The powertrain sensor market size is expected to see strong growth in the next few years. It will grow to $29.58 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising motor vehicle production, rising demand for automobiles, growing demand for hybrid electric vehicles, rising sales of commercial vehicles, rising demand for silicon temperature sensors, increasing sales and production of automobiles and increase in both passenger and commercial vehicle sectors. Major trends in the forecast period include product development and innovations, technological advancements, integration of flexible installations, development of hybrid sensor solutions, advanced automotive technologies, development of wireless sensor networks, and integration of artificial intelligence for predictive maintenance.
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What have been the primary factors driving the powertrain sensor market’s growth?
The rising motor vehicle production is expected to propel the growth of the powertrain sensor market going forward. Motor vehicle production involves assembling components to build automobiles, trucks, and other motor vehicles, including designing, manufacturing, marketing, selling, repairing, and maintaining these vehicles. The rising production of motor vehicles is due to increasing consumer demand for automobiles and advancements in manufacturing technology, streamlining production processes, and enhancing efficiency. Powertrain sensors benefit vehicle production by improving performance, efficiency, and safety, enabling real-time diagnostics, ensuring regulatory compliance, and providing valuable data for continuous improvement. For instance, in November 2023, according to Statistics Canada, a Canada-based government agency, in 2022, the total number of registered road motor vehicles in Canada reached 26.3 million, a slight increase of 0.3% from 2021. Therefore, rising motor vehicle production is driving the growth of the powertrain sensor market. Therefore, rising motor vehicle production is driving the growth of the powertrain sensor market.
What are the key segments within the powertrain sensor market?
The powertrain sensor market covered in this report is segmented –
1) By Type: Position Sensor, Speed Sensor, Pressure Sensor, Temperature Sensor, Other Sensors
2) By Subsystem: Drivetrain, Engine, Exhaust
3) By Propulsion: Internal Combustion Engine, Electric Vehicle
4) By Application: Passenger Car, Commercial Vehicle
Subsegments:
1) By Position Sensor: Linear Position Sensors, Rotary Position Sensors
2) By Speed Sensor: Magnetic Speed Sensors, Optical Speed Sensors, Hall Effect Speed Sensors
3) By Pressure Sensor: Absolute Pressure Sensors, Gauge Pressure Sensors, Differential Pressure Sensors
4) By Temperature Sensor: Thermocouples, Thermistors, Resistance Temperature Detectors (RTDs)
5) By Other Sensors: Knock Sensors, Oxygen Sensors, Exhaust Gas Temperature Sensors
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Which key players are shaping the powertrain sensor market?
Major companies operating in the powertrain sensor market are Robert Bosch GmbH, Panasonic Corporation, Denso Corporation, Continental AG, Texas Instruments Incorporated, Aptiv plc, Schaeffler AG, TE Connectivity Ltd., Infineon Technologies AG, Kyocera Corporation, NXP Semiconductors N.V., BorgWarner Inc., Amphenol Corporation, Renesas Electronics Corporation, Hella GmbH and Co. KGaA, Littelfuse Inc., Allegro MicroSystems LLC, Melexis NV, IAV Automotive Engineering Inc., CTS Corporation, PCB Piezotronics Inc., Delphi Technologies plc
How will emerging trends drive the powertrain sensor market throughout the forecast period?
Major companies operating in the powertrain sensor market are focusing on developing innovative products, such as electric vehicle powertrain systems, to sustain their position in the market. Electric vehicle powertrain systems are the components and technologies that convert electrical energy stored in batteries into mechanical energy to drive the vehicle’s wheels. For instance, in March 2023, Allegro MicroSystems Inc., a US-based semiconductor company, introduced ACS37601, a high-precision field current sensor designed for electric vehicle powertrain systems. This high-precision current sensor optimizes electric vehicle powertrain systems by accurately monitoring current flow, enhancing efficiency, and ensuring safe operation through precise data feedback. Its integration empowers EVs with advanced control capabilities, facilitating optimal performance and prolonging battery life.
How do regional factors impact the powertrain sensor market, and which region is the largest contributor?
North America was the largest region in the powertrain sensor market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the powertrain sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Powertrain Sensor Market Report 2025 Offer?
The powertrain sensor market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Powertrain sensors are integral components in modern vehicles, playing crucial roles in monitoring and optimizing the performance of the powertrain system. These sensors collect and transmit data to the vehicle’s onboard computer system, which uses this information to optimize performance, improve fuel efficiency, and ensure smooth operation.
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