Automotive Temperature Sensor Market Synopsis and Highlights, Key Findings, Majo

Posted by Market Research Future on December 21st, 2020

Market Highlights

The global Automotive Temperature Sensor Market is expected to exhibit a CAGR of 6% over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The MRFR report profiles the global automotive temperature sensors market with regard to the market’s leading drivers and restraints, key segments, and major players operating in the market. The global automotive temperature sensors market’s movement over the forecast period from 2017 to 2023 is charted in the report with the help of detailed statistical analysis and projection.

Automotive temperature sensors are mainly used in engines, exhausts, and seats. The first two categories of automotive temperature sensors are related to monitoring mechanical components for overheating. Temperatures can rise easily in a car’s engine and exhaust unit due to the constant operation of the engine, leading to the risk of overheating and other temperature-related damage. This risk is averted by the installation of temperature sensors, which detect the temperature of the unit and alert the driver if the temperature gets too high. The growing demand for advanced monitoring hardware in automotive applications is likely to be a key driver for the global automotive temperature sensors market over the forecast period.

The third category of automotive temperature sensors relates to seats. This is also likely to experience rapid growth over the forecast period due to the growing demand for increasing passenger comfort in modern automobiles.

The growing demand for technological innovation in the automotive industry is likely to be a major driver for the global automotive temperature sensors market over the forecast period. Automotive temperature sensors comprise a highly advanced use of the sensor technology and are thus likely to undergo considerable evolution over the forecast period.

Competitive Analysis:

The global automotive temperature sensors market is mainly dominated by players including RFMicron, ZF TRW Automotive, TT Electronics, Microchip Technology Inc., RoHM Co. Ltd., TE Connectivity Ltd., TDK Corporation, Panasonic, Continental, Aptiv PLC, and Robert Bosch. Leading players in the global automotive temperature sensors market are mainly occupied with product development as well as acquisitions of smaller players specializing in certain specific parts of the technology lifecycle of automotive temperature sensors.

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Segmentation:

The Automotive Temperature Sensor Market is segmented based on application, product type, vehicle type, and region.

On the basis of application, the global Automotive Temperature Sensor Market is segmented into engine, exhaust, and seats. One of the major applications of temperature sensors in vehicle architecture is in engine control management, leading to the engine segment holding a dominant share in the global automotive temperature sensors market.

Based on product type, the global automotive temperature sensors market is segmented into MEMS, IC sensor, and infrared temperature sensor. Infrared sensors are gaining popularity in high-temperature applications and are thus likely to dominate the global automotive temperature sensors market over the forecast period.

The market is segmented based on vehicle type into passenger vehicles and commercial vehicles. Passenger vehicles are likely to dominate demand from the global Automotive Temperature Sensor Market over the forecast period due to their growing demand as well as the higher emphasis on passenger comfort in passenger vehicles.

Regional Analysis:

Asia Pacific is likely to dominate the global automotive temperature sensors market over the forecast period due to the growing volume of automotive production in the region. The volume of automotive production in Asia Pacific has grown rapidly over the last few years, along with a steady rise in the technological sophistication of the vehicles being developed in the region. This has led to a strong rise in the automotive temperature sensors market in the region. The increasing demand for automotive electronics in Asia Pacific is likely to be a major driver for the automotive temperature sensors market in the region.

North America is also likely to play a key role in the growth of the global automotive temperature sensors market over the forecast period due to the strong regulatory support given to the use of temperature sensors by regulatory bodies such as the U.S. EPA.

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