Market Trends of Europe Sensors Industry
Automotive Industry to Hold a Significant Market Share
- Automotive is one of the critical industries driving the demand for sensors due to their wide range of applications. The need for sensors in the automotive industry may increase significantly due to rising auto sales owing to the rising per capita income in emerging nations, EV adoption, and the automation of vehicles.
- Sensors are broadly used in the automotive industry to monitor different aspects of a car, including its temperature, coolant system, oil pressure, and speed. The growing need for safer and cleaner vehicles drives the demand for sensors in the automotive industry. For instance, sensors provide information regarding the engine's clean and effective fuel combustion, which helps significantly reduce exhaust emission values and fuel consumption.
- The possible applications for several sensor types may also be fueled by several government regulations and initiatives to promote the use of electric vehicles. For instance, in June 2022, the European Parliament voted to support the 2035 sales ban on diesel and gasoline vehicles. According to EMEA, battery electric vehicle share is anticipated to surpass 70% by 2030 and reach almost 30% of the European market by 2025. Due to these factors, pressure, temperature, inertia, and other sensors will likely be required in the automotive industry.
- With amendments in the vehicle safety system in the General Safety Regulation, new safety features are being introduced in the market, such as advanced emergency braking systems, tire pressure management systems, lane departure warning systems, and driver seatbelt reminders. Such mandatory government regulations in the European countries levied by the EU are expected to increase the demand for sensors in the market.
- According to the European Automobile Manufacturers Association (ACEA), European Union has witnessed an increase in new car registration, in November 2022, 829,823 new cars were registered which has grown to 885,580.57 in November 2023.
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Consumer Electronics to Drive Market Growth
- Smartphones are one of the key products that employ many sensors. From the camera, display, and touch-up to distance and proximity measures, sensors have a wide range of smartphone usage. Thus, the increasing usage of smartphones impacts the market studied.
- Proximity and temperature sensors are common in all modern computers and associated devices. Non-contacts are preferred with proximity sensors to reduce wear and tear. Temperature sensors, the most well-known sensor in a computer, control the amount of internal heat produced by processors and related circuitry to prevent overheating or freezing.
- Sensing devices are used in more smart home applications as smart structures gain popularity. The need for sensors is anticipated to increase due to the growing popularity of smart consumer electronics, IoT devices for smart homes, and technological advancements and innovations. The growing use of wireless technologies, propelling the market for smart consumer electronics, is anticipated to open up new market opportunities for sensors.
- The region's expanding consumer electronics market is anticipated to open new application possibilities for sensors. For instance, consumer electronics accelerometers use the capacitive detection sensing principle to measure changes in linear motion. For mobile applications, the interrupt feature of sensors offers an extra special benefit, such as a battery-saving mode or free-fall detection. The market studied is anticipated to grow in response to the rising need for consumer electronics with low power requirements and longer battery lives in nations like the United Kingdom, Germany, and France.
- According to GFU, in 2023,smartphone sales generated revenue of roughly EUR 13,799 (USD 14925.21 million) in Germany. They are anticipated to grow more in the future, thereby driving the sensor market in the region.
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