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The automotive position sensor market size is estimated to grow at a CAGR of 8.82% between 2023 and 2028. The market size is forecast to increase by USD 3.43 billion. The accelerated growth of the market is due to various factors, including the growing number of vehicles in use, the increasing adoption of emission norms, and the increasing product launches.
The report offers extensive research analysis on the Automotive Position Sensor Market, with a categorization based on Channel, including OEM and aftermarkets. It further segments the market by Vehicle Type, encompassing passenger car, light commercial vehicle, and heavy commercial vehicle. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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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.
One of the key factors driving the automotive position sensor market growth is the growing number of vehicles in use. The global demand for automotive position sensors is increasing due to numerous factors including the increasing number of vehicles (or vehicles-in-use) across the world. In addition, this is leading to the high need for automotive position sensor in passenger cars and other vehicles. Furthermore, in the past decade, the global vehicle population has increased at consistent levels.
Moreover, the growing life span of vehicles is playing a crucial role in driving the vehicle population. In addition, factors such as the high reliability and durability of modern vehicles are increasing their lifespan. For instance, modern vehicles with more rigid construction and long-lasting and highly durable engines undergo regular maintenance. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the automotive position sensor market growth is the increasing demand for vehicle and environmental safety. The automotive industry has been witnessing significant demand for fuel efficiency, safety, and reduced emissions in the interest of promoting better driving and travel experience for consumers. As a result, this increases the number of position sensors in a vehicle, which helps increase the efficiency of engine operations.
Moreover, the camshaft position sensor supports the engine management system in order to precisely control the timing of the engine valves. Thus, consumer preferences tend to favor automotive position sensor suppliers because their demands are inclined toward better safety and performance features. Furthermore, rising income in developing regions such as APAC has increased customer investments in passenger cars. Hence, such factors are driving the market growth during the forecast period.
Low reliability on sensors due to improper functioning is one of the key challenges hindering the automotive position sensor market growth. Position sensors are mainly used to monitor the motion of the vehicle when the vehicle is in operation. However, there are several issues associated with the reliability of the sensor. For instance, if the sensor malfunctions, it starts to show an inaccurate signal on the instrument cluster, thus misguiding the driver and may lead to vehicle damage.
Moreover, even occasional faults in the system can result in users not accepting sensor technology, and this may have a deleterious effect on the growth of the global automotive position sensor market. Hence, factors such as low reliability on sensors due to improper functioning will negatively impact the growth of the global automotive position sensor market, Therefore, it is expected to hinder the market growth 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.
Global Automotive Position Sensor 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.
Allegro MicroSystems Inc: The company offers position sensors, such as Magnetic Position Sensors, which includes 1D Linear Position Sensors, 2D Angle Position Sensors, and 3D Magnetic Position Sensors.
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 OEM segment is estimated to witness significant growth during the forecast period. The OEM segment is an essential driver for the global automotive position sensor market, and the growing adoption of vehicles including passenger cars and others for daily commuting or long-distance traveling is increasing the adoption of exhaust systems across the world.
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The OEM segment was the largest segment and was valued at USD 4.37 billion in 2018. Moreover, sport motorcycle and car OEMs will tend to offer automotive position sensors from the factory or optional fitment due to strong demand from racing enthusiast customers. Furthermore, even though developments in the OEM 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. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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Europe is estimated to contribute 35% 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 market growth in Europe is fuelled by factors such as growth in the production of commercial vehicles and the growth of the automotive industry in the region. In addition, Germany is among the top automotive manufacturing countries in the world, which contributes to the high demand for automobiles in Western European economies and to the growth of the automotive position sensor market in the region. Furthermore, stringent vehicular emission norms are driving the adoption of advanced automotive position sensors, which is contributing to the revenue generation in the automotive position sensor market in Europe. Hence, such factors are driving the market growth in Europe during the forecast period.
The automotive position sensor market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Automotive Position Sensor Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.82% |
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Market Growth 2024-2028 |
USD 3.43 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.9 |
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Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 35% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Allegro MicroSystems Inc., Analog Devices Inc., Autoliv Inc., BorgWarner Inc., Continental AG, CTS Corp., Elmos Semiconductor AG, Infineon Technologies AG, NXP Semiconductors NV, OmniVision Technologies Inc., ON Semiconductor Corp., Panasonic Holdings Corp., Quanergy Systems Inc., Robert Bosch GmbH, Sensata Technologies Inc., STMicroelectronics International N.V., TE Connectivity Ltd., Toyota Motor Corp., Valeo SA, and ZF Friedrichshafen AG |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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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 Channel
7 Market Segmentation by Vehicle Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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