What Fueled The Previous Growth In The Powertrain Sensor Market?
The powertrain sensor market has seen considerable growth due to a variety of factors.
• The powertrain sensor market has grown significantly in recent years. It will rise from $22.03 billion in 2024 to $23.43 billion in 2025, at a compound annual growth rate (CAGR) of 6.4%.
The growth is driven by infrastructure development, increasing purchasing power, rising demand for luxury and electric vehicles, and the growing adoption of powertrain sensors.
What Can Be Expected from the Powertrain Sensor Market Size?
The powertrain sensor market is expected to maintain its strong growth trajectory in upcoming years.
• The powertrain sensor market is expected to reach $29.58 billion by 2029 at a CAGR of 6.0%.
Growth is supported by rising vehicle production, growing automobile demand, hybrid electric vehicle popularity, commercial vehicle sales, and the demand for silicon temperature sensors. Key trends include product innovations, flexible installations, hybrid sensor solutions, advanced automotive technologies, wireless sensor networks, and AI for predictive maintenance.
What Are the Critical Driver Fuelling The Powertrain Sensor Market's Growth?
The surge in motor vehicle manufacturing is anticipated to boost the progress of the powertrain sensor market. The process of motor vehicle manufacturing includes the assembly of parts to create automobiles, trucks, and other vehicles, which encompasses designing, marketing, selling, repairing, and maintaining the vehicles. The increased vehicle production stems from the growing customer demand for automobiles and advancements in manufacturing technology, which optimizes production processes and improves efficiency. Powertrain sensors contribute to vehicle manufacturing by enhancing performance, efficiency, and safety, facilitating real-time diagnostics, upholding regulatory compliance, and providing critical data for ongoing improvement. For example, Statistics Canada reported in November 2023 that the total number of registered road motor vehicles in Canada in 2022 was 26.3 million, marking a marginal rise of 0.3% compared to 2021. Hence, the advancing motor vehicle production is propelling the growth of the powertrain sensor market.
How Is The Powertrain Sensor Market segmented?
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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What New Trends Are Influencing The Powertrain Sensor Market?
Leading corporations in the powertrain sensor market are prioritizing the creation of innovative goods, including electric vehicle powertrain systems, to maintain their competitive edge. Electric vehicle powertrain systems are the mechanisms and technologies that transform electrical power held in batteries into mechanical power to propel the vehicle's wheels. For instance, Allegro MicroSystems Inc., a semiconductor company based in the US, launched ACS37601 in March 2023 - a high-definition field current sensor designed particularly for electric vehicle powertrain systems. This superior current sensor enhances electric vehicle powertrain systems by meticulously observing the current flow, improving efficiency, and guaranteeing safe operation due to precise data feedback. The implementation of this technology gives electric vehicles boosted control features, hence ensuring optimal performance and extending battery lifespan.
Who Are the Key Players In 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
What Is The Most Dominant Region In The Powertrain Sensor Market?
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.
