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The automotive engine oil level sensor market size is estimated to increase by USD 1.33 billion and grow at a CAGR of 5.31% between 2023 and 2028. The market is experiencing significant expansion due to several key factors. Firstly, the increasing integration of automotive electronics is driving the market. This trend is particularly prominent in the development of ultrasonic level sensors for diesel and biodiesel vehicles. Additionally, the rising number of vehicles-in-use contributes to the market's expansion. These sensors play a crucial role in ensuring optimal engine performance and longevity by accurately monitoring oil levels. As a result, the market is poised for continued growth in the coming years.
Automotive level sensors and automotive exhaust gas sensors are essential components in modern vehicles. Automotive level sensors monitor various parameters such as vehicle speed, engine coolant temperature, and fuel level. These sensors ensure optimal vehicle performance and safety. Automotive exhaust gas sensors, on the other hand, measure the amount of pollutants in exhaust gases to ensure compliance with emission regulations. The integration of these sensors in vehicles is crucial for maintaining engine efficiency and reducing environmental impact. R&D investments in advanced sensor technologies and capex in manufacturing facilities will enable companies to stay competitive and meet the growing demand for automotive sensors. Additionally, understanding the labor market and brand perception in APAC will help companies effectively market their products and build a strong customer base.
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The market is expanding rapidly, driven by advancements in automotive engine oil cooler technologies that enhance engine performance and reliability. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The automotive industry in the Asia Pacific (APAC) region holds a leading position in the global market, driven by robust sales in China, Japan, South Korea, and India. APAC is the global leader in vehicle production and sales, with advancing automotive powertrains significantly contributing to the sensor market revenue. The high population, economic growth, and infrastructural development in nations like China and India create vast growth potential. Furthermore, increased employment, trade activities, and the presence of sensor manufacturers in APAC drive automotive sensor demand.
Specially developed ultrasonic level sensors for diesel and biodiesel vehicles are the key factor driving the market. Ultrasonic fuel level sensors are mainly created for diesel and biodiesel vehicles, but these sensors can also be used in other vehicles. They have a long service life and can be used in extreme environmental conditions due to their wire-free transmitter and receiver principle.
Moreover, ultrasonic-level sensors offer the best performance in vehicles. due to these special features, the acceptance of ultrasonic level sensors has been increasing in diesel and biodiesel engines, and this is boosting the global automotive oil level sensor market. Thus, such factors drive the growth of the global market during the forecast period.
The growing popularity of NEMS and MEMS is the primary trend shaping market. Microelectromechanical systems (MEMS) technology involves the development of electromechanical and mechanical components operating the microfabrication technique. The structure of these devices can range from simple to fairly complex moving parts, and the physical dimensions can range from one micron to a few millimeters. They are also called micromachined or microsystem technology devices.
Besides, the nanoelectromechanical system (NEMS) technology is the next-level miniaturization of MEMS technology. The next generation of automobiles will benefit from the introduction of MEMS and NEMS technologies in automotive engine oil-level sensors. Thus, the rising popularity of NEMS and MEMS will significantly drive the growth of the global market during the forecast period.
A favorable environment supporting EV adoption globally is a challenge that affects the growth of the market. Several government bodies across the globe are taking initiatives to encourage the adoption of EVs (Electric Vehicles). Unlike ICE (Internal Combustion Engine ) based vehicles, EVs lower air pollution significantly as they do not emit harmful pollutants such as particulates, carbon monoxide, hydrocarbons, and volatile organic compounds.
Moreover, the rising concerns about the significant rise in greenhouse gas emissions have increased the sales of hybrid engines and fully electric vehicles. Thus, these factors will impede the global market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The OEMs segment is estimated to witness significant growth during the forecast period. The OEMs segment is an important driver for the global market, and the rising adoption of vehicles like passenger cars and others for daily commuting or long-distance traveling is boosting the adoption of exhaust systems across the globe.
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The OEMs segment was the largest segment and was valued at USD 3.42 billion in 2018. Although developments in the OEMs segment are on the lesser side than aftermarket, which is witnessing continuous developments in material and design, the segment will continue its dominant position owing to new automotive sales. Further, sport motorcycle and car OEMs will tend to offer automotive engine oil level sensors from the factory or optional fitment due to strong demand from racing enthusiast customers. Hence, such factors will drive the growth of the OEM segment of the global market during the forecast period.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increased demand and sales of automobiles in China, Japan, South Korea, and India make APAC a predominant region in the global market.
Furthermore, sensor manufacturing companies are attracted to countries in APAC as they present huge growth potential. Some of them have established their manufacturing facilities in the region to mark a long-term presence. Fetching pricing, the entry of new market players, more significant transparency on vehicle history, and the availability of different distribution channels have resulted in the growth of the market for used cars. These factors are driving the demand for automotive sensors, which will boost the market in the region during the forecast period. Europe is also witnessing steady growth, in particular, the Automotive Engine Oil Market in Germany is also seeing increased expansion.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The market is integral to ensuring the health and efficiency of automotive engines. These sensors facilitate real-time monitoring and measurement of the automotive engine oil levels, allowing for timely diagnosis of potential issues. As automakers continuously strive for advancements and innovations in engine technology, oil level sensors play a pivotal role in maintaining optimal performance. Competitors in the market strategically position themselves to capitalize on external factors such as brand recognition and market visibility. Capital investments are directed towards developing sensors that address performance issues and mitigate the threat of substitution.
Key factors influencing the market include the political landscape, investment avenues, and short-term and long-term trends in the automobile industry. Despite margin declines, manufacturers focus on customer orientation and sustainable supply practices to maintain profitability. The market offers potential opportunities for growth, with a focus on bargaining power, volume analysis, strategic positioning, Economic landscape, Pivotal factors, Automobile Engine, short-term trends and consumption power. By leveraging advanced sensor technology, automakers can enhance engine efficiency and ensure the longevity of vehicles. Ultimately, the Market plays a crucial role in optimizing engine health and supporting the smooth operation of vehicles on the road.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
Market growth 2024-2028 |
USD 1.33 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.8 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 53% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amphenol Corp., Cebi International SA, Cummins Inc., General Motors Co., Gill Sensors and Controls Ltd., HELLA GmbH and Co. KGaA, Holykell Sensor Inc., Honeywell International Inc., ifm electronic gmbh, Niterra Co. Ltd., Porsche Automobil Holding SE, Robert Bosch GmbH, Rochester Sensors, Schaeffler AG, Sensata Technologies Inc., SMD Fluid Controls, TDK Corp., TE Connectivity Ltd., Texas Instruments Inc., and Toyota Industries Corp. |
Market dynamics |
Parent market analysis, market growth analysis, market research and growth, market growth and forecasting, Market forecasting, market forecast, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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