Automotive Powertrain Sensors Market to Be Worth $34.8 Billion by 2031 - Exclusive Report by Meticulous Research®

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Jul 31, 2024, 10:01 ET

REDDING, Calif., July 31, 2024 /PRNewswire/ -- According to a new market research report titled, 'Automotive Powertrain Sensors Market by Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), and Vehicle Type (ICE, HV, EV)—Global Forecast to 2031, the automotive powertrain sensors market is projected to reach $34.8 billion by 2031, at a CAGR of 8.1% from 2024 to 2031. By volume, the automotive powertrain sensors market is projected to reach 7.5 billion units by 2031, at a CAGR of 7.8% during the forecast period.

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Powertrain sensors are highly precise electrical sensors used to monitor engine parameters, such as air mass, pressure, and speed, and send these data to the electronic control units for optimizing vehicle performance. Powertrain sensors play a significant role in the operation mechanism of the engine, transmission, exhaust, and steering. Automotive powertrain sensors are highly effective in monitoring and optimizing various parameters, such as temperature, pressure, position, and speed. A vehicle's efficiency majorly depends on the accuracy, precision, and response time of powertrain sensors. These sensors can effectively detect the soot, NOx, and oxygen levels in the engine exhaust for compliance with various emission norms and regulations worldwide. The powertrain sensors play an important role in producing vehicles that conform to these stringent emission regulations.

The growth of this market is driven by the increasing requirement for sensors in hybrid powertrains, rising awareness about fuel economy, and increasing demand for mid-sized cars from developing nations. However, the high development cost of automotive sensors and the complexity of sensor integration restrain the growth of this market.

Furthermore, rising awareness about vehicles' carbon footprint and stringent emission regulations are expected to create market growth opportunities during the forecast period. However, the lack of harmonization in system integration is a major challenge for the players in this market.

Additionally, the increasing deployment of compact engines and the growing adoption of shared mobility are key trends in the automotive powertrain sensors market.

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The automotive powertrain sensors market is segmented by type {exhaust sensors (lambda/oxygen sensors, nitrogen sensors, soot sensors, and ammonia sensors), position sensors (inductive sensors, magnetic sensors, and capacitive sensors), temperature sensors (thermocouples, thermistors, and silicon sensors), fluid concentration sensors, current sensors, voltage sensors, knock sensors, speed sensors, torque sensors, pressure sensors, and other sensors}, powertrain subsystem {engine management sensors, power steering sensors, and transmission management sensors}, vehicle type {internal combustion engine vehicles (passenger vehicles, heavy commercial vehicles, and light commercial vehicles), hybrid vehicles (hybrid electric vehicles and plug-in hybrid electric vehicles), electric vehicles (battery electric vehicles and fuel cell electric vehicles), and other vehicles}, and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Among all the types studied in this report, in 2024, the exhaust sensors segment is expected to account for the largest share of around 39.0% of the automotive powertrain sensors market. The large market share of this segment is mainly attributed to increasingly stringent government regulations mandating higher fuel efficiency, fewer exhaust emissions, and the use of exhaust gas regeneration technology. These sensors are critical for closely monitoring real-traffic emissions and the impact of after-treatment systems.

Additionally, the exhaust sensors segment is projected to register the highest CAGR during the forecast period.

Among all the powertrain subsystems studied in this report, in 2024, the engine management sensors segment is expected to account for the largest share of around 66.0% of the automotive powertrain sensors market. This segment's large market share is attributed to stringent emission regulations to reduce gas emissions, the rising requirement for fuel economy, improved combustion cycle, and improved engine control for a better driving experience.

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However, the transmission management sensors segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the increased adoption of hybrid electric vehicles and plug-in hybrid electric vehicles requiring multiple sensors to measure torque, the position of gears, and power delivery. Moreover, the implementation of technologies, such as continuously variable transmission, multi-gear automatic transmission, dual-clutch transmission, and regenerative braking, have led to powertrain designs that involve higher internal pressures, greater instantaneous forces, increased electronic signatures, and more complex designs and mechanical operation which support the high growth of this segment.

Among all the vehicle types studied in this report, in 2024, the internal combustion engine vehicles segment is expected to account for the largest share of around 77.0% of the automotive powertrain sensors market. This segment's large market share is attributed to the rising requirement for fuel economy in ICE vehicles, stringent emission norms to reduce greenhouse gas emissions, and dominance of ICE powertrains in developing economies such as India, Southeast Asia, Latin America, and a major part of Middle East & Africa.

However, the electric vehicles segment is projected to register the highest CAGR during the forecast period. This segment's growth is driven by the rapid adoption of hybrid electric powertrains to optimize combustion engines for low-speed cruising, stringent emission norms in Europe and the U.S., and innovations in battery technology production.

Among the geographies, in 2024, Asia-Pacific is expected to account for the largest share of around 52.0% of the automotive powertrain sensors market, followed by Europe, North America, Latin America, and Middle East & Africa. The large share of this regional market is mainly attributed to the high production level of automobiles in the region driven by huge demand from China, India, and Japan, the upgradation of powertrain systems due to rising consumer awareness regarding the environmental effects of automotive emissions and increasing infrastructural developments in the region. Moreover, due to the presence of some of the fastest-growing economies of the world, such as India, China, Indonesia, and Thailand, the purchasing power of consumers in this region is high, propelling the demand for automobiles from this region. Also, China is expected to lead global automotive production during the forecast period, which is expected to drive a large share of this region during the forecast period.

However, Latin America is slated to register the highest CAGR of 7.5% during the forecast period. The high growth of automotive powertrain sensors in Latin America is majorly attributed to the presence of fast-growing economies, such as Brazil and Argentina, and the growing adoption of torque sensors in electric power steering systems. Moreover, government support for adopting fuel-efficient powertrain sensors is further driving the growth of this market in this region.

Key Players:

The key players operating in the global automotive powertrain sensors market are Texas Instruments (U.S.), Denso Corporation (Japan), Robert Bosch GmbH (Germany), Mitsubishi Electric Corporation (Japan), Infineon Technologies (Germany), NXP Semiconductor (Netherlands), HELLA GmbH & Co. (Germany), Valeo (France), CTS Corporation (U.S.), Renesas Electronics Corporation (Japan), ZF Friedrichshafen AG (Germany), Delphi Technologies (U.K.), PCB Piezotronics Inc. (U.S.)., STMicroelectronics N.V. (Switzerland), and TE Connectivity (Switzerland).

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Scope of the Report:

Automotive Powertrain Sensors Market Assessment—by Type

Exhaust Sensors
- Lambda/Oxygen Sensors
- Nitrogen Sensors
- Soot Sensors
- Ammonia Sensors
Position Sensors
- Inductive Sensors
- Magnetic Sensors
- Capacitive Sensors
Temperature Sensors
- Thermocouples
- Thermistors
- Silicon Sensors
Fluid Concentration Sensors
Current Sensors
Voltage Sensors
Knock Sensors
Speed Sensors
Torque Sensors
Pressure Sensors
Other Sensors

Automotive Powertrain Sensors Market Assessment—by Powertrain Subsystem

Engine Management Sensors
Power Steering Sensors
Transmission Management Sensors

Automotive Powertrain Sensors Market Assessment—by Vehicle Type

Internal Combustion Engine (ICE) Vehicles
- Passenger Vehicles
- Heavy Commercial Vehicles
- Light Commercial Vehicles
Hybrid Vehicles
- Hybrid Electric Vehicles
- Plug-in Hybrid Electric Vehicles
Electric Vehicles
- Battery Electric Vehicles
- Fuel Cell Electric Vehicles
Other Vehicles

Automotive Powertrain Sensors Market Assessment—by Geography

North America
- U.S
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
Latin America
Middle East & Africa

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