“Stringent emission norms are driving the market for automotive temperature sensors”
The global automotive temperature sensor market is estimated to be USD 7.70 billion in 2017 and is projected to reach USD 11.89 billion by 2025, at a CAGR of 5.58%. Temperature sensor plays a major role in controlling emission. With emission standards becoming increasingly stringent, the manufacturers are focusing on developing new technologies to meet the legislation necessitating the release of cleaner exhaust gases. However, the cost of a temperature sensor is high, which increases the manufacturing cost of the vehicle.
“MEMS technology is the fastest growing segment in automotive temperature sensor in 2017”
The MEMS segment is expected to grow at the highest rate during the forecast period. The ongoing trend of adopting bulk micromachining fabrications to manufacture components such as temperature sensors is driving the market for MEMS technology.
“Battery temperature sensor of electric vehicle is estimated to grow at the highest rate during the forecast period”
The battery temperature sensor market is projected to grow at the highest CAGR during the forecast period. Battery temperature sensors are used in each cell of the battery to monitor temperature, thus, increasing the efficiency. The sensors monitor the chemical reaction temperature inside the battery, thus increasing the life of the battery. Henceforth, the high requirement of battery sensor in an electric vehicle is expected to boost the market for automotive temperature sensor.
“Asia Pacific is estimated to be the fastest growing automotive temperature sensor market”
The automotive temperature sensor market for Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Factors such as the upcoming government norms for emission in developing countries and high production of vehicles are expected to drive the market growth in the region. For instance, India is likely to adopt BS6 norms by 2020.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type – OEM’s - 40%, Tier 1 - 45%, Tier 2- 15%
- By Designation - C level - 25%, D level - 35%, Others - 40%
- By Region - North America - 30%, Europe - 40%, Asia Pacific - 25%, RoW - 5%
Major players profiled in the report are:
• Robert Bosch (Germany)
• Continental (Germany)
• Delphi (UK)
• NXP Semiconductors (Netherlands)
• Sensata (US)
• Murata (Japan)
• TDK Corporation (Japan)
• TE Connectivity (Switzerland)
• Panasonic (Japan)
• Microchip (US)
• Analog Devices (US)
The report segments the automotive temperature sensor market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), application (Transmission, Engine, Exhaust, HVAC, Thermal Seats), product (Thermistor, RTD, Thermocouple, IC sensor , MEMS, Infrared sensor), technology (Contact, Non-Contact), Usage (Gas, Liquid, Air), Vehicle (PC, CV), electric vehicle application (Engine, HVAC, Battery, Motor), and Technology (Wired, Wireless).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the global automotive temperature sensor market.
Reasons To Buy the Report:
The report provides insights into the following points:
- Market Penetration: The report provides comprehensive information about the automotive temperature sensor market and the top 12 players in the market.
- Product Development/Innovation: The report gives detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive temperature sensor market.
- Market Development: The report provides comprehensive information about temperature sensors. The report analyses the automotive temperature sensor market across regions.
- Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive temperature sensor market.