Global Battery Sensor Market is valued approximately USD 2.72 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 11.55 % over the forecast period 2020-2027. Battery Sensors are devices that accurately measure the voltage, current and temperature from the battery placed in the Automobile. The information generated by these battery sensors facilitate exact state of the charge and also ensure high efficiency of the electrical system. These batteries also aid in identifying faulty electronic components in the vehicle. The increasing automobile production across the globe has triggered increased use of battery sensors. Further, the growing demand for premium cars which has intelligent features drives the market growth. As per Statista, the US luxury car market in 2018 was covered by Mercedes-Benz with 15.8% followed by 15.5% of BMW. As per the company sources, the BMW 4 series sales increased from 1585 units in 2018 to 2842 in 2019. While, the BMW M sports cars accounted for 44,442 units of sales in 2019. Moreover, as per iSeeCars survey of 15 million cars ranging from a period of April 2016 to March 2017, the US national average percentage of convertible sales in one year accounted to 1.9% of all vehicles sold. While the top three states with the highest percentage share for convertibles were Florida with 3.6%, Arizona with 2.8% and California with 2.7%. Also, increasing penetration of electric vehicle owing to growing environmental concerns augments the market growth for Battery sensors. as per Electric vehicles volumes, the first half of 2019 experienced delivery of 149,500 plug-in vehicles accounting to an increase of 23% as compared to its value from 2018. 72% of these were pure electric (BEV) and 28% were plug-in hybrids. However, System Malfunction impedes the growth of the market over the forecast period of 2020-2027. Although, rising adoption of advanced technologies in modern vehicles presents a lucrative opportunity for the market.
The regional analysis of global Battery Sensor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the rapid adoption of modern and electric cars in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rapidly growing manufacturing companies and semiconductor industry would create lucrative growth prospects for the Battery Sensor market across Asia-Pacific region.
Major market player included in this report are:
HELLA GmbH & Co. KGaA
Robert Bosch GmbH
Furukawa Electric Co.,Ltd.
NXP Semiconductors N.V.
Vishay Intertechnology, Inc.
Texas Instrument Inc.
TE Connectivity Ltd.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Voltage Type:
By Communication Technology:
Local Interconnect Network (LIN)
Controller Area Network (CAN)
By Hybrid Vehicle:
By Vehicle Type:
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Battery Sensor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers