Automotive Sensor Market To Reach $85.1 Billion By 2030

Automotive Sensor Market Growth & Trends

The global automotive sensor market size is expected to reach USD 85.1 billion in 2030 and is projected to grow at a CAGR of 11.9% from 2024 to 2030. Favorable government regulations for increasing overall passenger security and safety is expected to augment market demand over the forecast period. These products have become an important part of automobiles, and detect physical parameters such as speed and heat and take preventive measures in case of any danger.

Growing consumer adoption of electric, hybrid and hydrogen fuel-cell-powered motor vehicles is expected to drive demand for battery monitoring. Image sensor-based ADAS systems have become essential for tracking and identifying potential hazards. Additionally, rising number of autonomous vehicles in yielding lower fuel consumption and reduced traffic congestion features in developing countries such as Japan and China is expected to favorably impact the automotive sensor market. Demand for retrofitting of advanced systems into the existing motor vehicle fleet is also expected to augment demand.

 Request a free sample copy or view report summary: Automotive Sensor Market Report

Automotive Sensor Market Report Highlights

• The temperature sensor segment dominated the market and accounted for a share of 35.0% in 2023. Temperature sensors are a well-established and mature technology, these sensors are relatively simple and inexpensive to manufacture compared to complex sensors.

• The heavy commercial vehicles (HCV) segment is expected to grow at a significant CAGR of 12.7% over the forecast period. The e-commerce sector and the demand for goods delivery services are rising, which requires heavy commercial vehicles for transportation.

• The engine & drivetrain segment dominated the market with a revenue share of 34.4% in 2023 as they are an essential fundamental part of a vehicle; they are responsible for generating power and are crucial for the vehicle's basic functionality.

• Asia Pacific automotive sensor market dominated the global market with a revenue share of 43.3% in 2023. Asia Pacific region is a major car manufacturing hub. The mass production of vehicles generated more demand for automotive sensors in the region.

Automotive Sensor Market Segmentation

Grand View Research has segmented the global automotive sensor market on the basis of product, application and region:

Automotive Sensors Outlook (Revenue, USD Million, 2018 - 2030)

• Temperature Sensors

• Position Sensors

• Pressure Sensors

• NOx Sensors

• Radar Sensors

• Others

Automotive Sensor Vehicle Outlook (Revenue, USD Million, 2018 - 2030)

• Passenger Car

• Light Commercial Vehicles (LCV)

• Heavy Commercial Vehicles (HCV)

• Others

Automotive Sensor Application Outlook (Revenue, USD Million, 2018 - 2030)

• Engine & Drivetrain

• Safety & Security

• Emission Control

• Others

Automotive Sensor Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Automotive Sensor Market

• Power Grid Corporation of India Limited (POWERGRID)

• MYR Group Inc.

• KEPCO

• Hitachi Energy Ltd.

• Siemens

• General Electric Company

• Cisco Systems Inc.

• Schneider Electric SE

• ABB

• Eaton