Market Size of Automotive Temperature Sensor Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.17 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Temperature Sensors in Automotive Market Analysis
The Automotive Temperature Sensor market was valued at USD 12.13 billion in 2020 and is expected to reach USD 8.47 billion by 2026, at a CAGR of 6.17% over the forecast period 2021 - 2026. The automotive industry has grown significantly in the past few years, aided by the growth in unit volumes and the emergence of new technologies, whether it be for safety, entertainment, or for pure innovation.
- Government organizations in many countries are implementing safety and emission control standards that mandate the installation of sensors. Automotive companies are thereby required to comply with these safety and emission control regulations set by these authorities. This trend is expected to increase the demand for automotive temperature sensors over the forecast period.
- In line with this trend, companies such as MS Motorservice International GmbH, in 2018, launched aftermarket exhaust gas temperature sensors that feature temperature resistance in the range from - 40° to + 1,000°C and exceptional accuracy. These sensors monitor the hot exhaust gas flow and protect temperature-sensitive components, like turbochargers from overheating. In the case of critical overheating, the control unit responds with suitable actions to reduce the temperature, for example, reducing the performance.
- Moreover, the growing automotive HVAC market, which is facilitating the broader adoption of temperature sensors, is one of the major trends contributing to the growth of the automotive temperature sensor market. Temperature sensors are the most commonly used sensors for HVAC as they can monitor ambient conditions inside a car.
- Along with the aforementioned factors, increasing adoption of electric vehicles is also favoring the market growth over the forecast period as these vehicles also require temperature monitoring. Companies such as Sensor Scientific Inc. is developing thermistor temperature sensors for electric cars.
Temperature Sensors in Automotive Industry Segmentation
Temperature sensor in the automotive industry effectively and accurately measure the temperature of a vehicle's oil, coolant, and air to ensure optimum performance. Automotive temperature sensors usually consist of either a thermistor, thermocouple, resistance temperature detector or an infrared device. Thermocouples are mainly used for measuring high temperatures (like exhaust gas temperatures), and infrared sensors are utilized where direct contact with the object being sensed is undesirable.
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| Passenger Cars | |
| Commercial Vehicles |
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| Powertrain | |
| Body Electronics | |
| Alternative Fuel Vehicles | |
| Other Applications |
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Automotive Temperature Sensor Market Size Summary
The automotive temperature sensor market is experiencing significant growth, driven by the increasing demand for safety and emission control standards that require the installation of sensors in vehicles. This demand is further bolstered by the rise in automotive sales, particularly in the passenger car segment, where the millennial population's purchasing power is on the rise. The market is also benefiting from the growing automotive HVAC sector, which relies heavily on temperature sensors to monitor ambient conditions within vehicles. Additionally, the adoption of electric vehicles is contributing to market expansion, as these vehicles necessitate precise temperature monitoring to ensure optimal performance and safety.
The Asia-Pacific region is a key growth area for the automotive temperature sensor market, fueled by the developing automotive industries in countries like China and India. The region's burgeoning electric vehicle market, supported by government incentives, is also a significant factor in the market's expansion. Companies in the region are investing heavily to meet the increasing demand, which is expected to drive the adoption of temperature sensors. The market is competitive, with several players striving to enhance their market presence through product innovation, operational expansion, and strategic mergers and acquisitions.
Automotive Temperature Sensor Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Introduction to Market Drivers and Restraints
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1.3 Market Drivers
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1.3.1 Stringent Emission Regulations for Automobiles
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1.3.2 Increasing Penetration of Electric and Autonomous Vehicles
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1.4 Market Restraints
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1.4.1 Cost Pressure on Automotive OEM's
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1.5 Value Chain Analysis
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1.6 Industry Attractiveness - Porter's Five Force Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers/Consumers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitute Products
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1.6.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Passenger Cars
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2.1.2 Commercial Vehicles
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2.2 By Application
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2.2.1 Powertrain
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2.2.2 Body Electronics
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2.2.3 Alternative Fuel Vehicles
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2.2.4 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 France
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2.3.2.2 Germany
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2.3.2.3 Italy
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2.3.2.4 Spain
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2.3.2.5 United Kingdom
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Rest of the World
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2.3.4.1 Latin America
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2.3.4.2 Middle-East & Africa
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Automotive Temperature Sensor Market Size FAQs
What is the current Automotive Temperature Sensor Market size?
The Automotive Temperature Sensor Market is projected to register a CAGR of 6.17% during the forecast period (2024-2029)
Who are the key players in Automotive Temperature Sensor Market?
Sensata Technologies Inc., NXP Semiconductors N.V., Amphenol Corporation, Robert Bosch GmbH and Continental AG are the major companies operating in the Automotive Temperature Sensor Market.
