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Increasing adoption of vehicles equipped with modern ICE drivetrain and HEVs are anticipated to trigger the growth of the powertrain sensor market.
The global powertrain sensor market is projected to grow at a CAGR of 2.8% to reach USD 24.7 billion by 2027, from an estimated USD 19.8 billion in 2019. Increasing adoption of powertrain sensors required for better fuel economy and decrease in carbon emissions are the primary enablers for the growth of the powertrain sensor market. However, decreasing price of powertrain sensors would restrain the growth of the market during the forecast period.
Other powertrain sensors segment is the largest sensor type for ICE vehicles segment during the forecast period.
Other powertrain sensors include important sensors like oxygen sensor lambda sensor, NOx sensor, and fuel level sensors. These sensors are costlier than other sensors in a powertrain. There is no alternative to these sensors. Hence, other powertrain sensors dominate the powertrain sensor market for ICE vehicles.
Lightduty vehicle segment is expected to dominate the powertrain sensor market.
Each lightduty vehicle is installed with the powertrain sensors for keeping an eye on proper operations of powertrain subsystems. OEMs are customizing/tuning powertrain sensors for their respective vehicle models. Considering the availability of customization in vehicles, people are also willing to go for such vehicle offerings. This is the reason for the growth of the lightduty vehicle market in every region.
Lain America is expected to record the highest growth rate during the forecast period.
Most of Tier I and Tier II suppliers and OEMs are focusing on the Latin American automotive market. Countries in Latin America are becoming selfdependent and economically strong. The production of vehicles in this region is increasing. People in these countries are also looking out for vehicles with more features. This is the reason for the growth of the Latin American powertrain sensor market.
Indepth interviews were conducted with CEOs, marketing directors, innovation and technology directors, and executives from various key organizations operating in the market.
By Company Type: Tier I 47%, Tier II 33%, and OEMs 20%
By Designation: C Level 60%, Manager and Others 40%
By Region: Asia Pacific 32%, Europe 26%, North America 24%, Latin America and RoW 18%
The market comprises major manufacturers such as Bosch Germany, Continental Germany, Denso Corporation Japan, Hella Germany, Texas Instruments US, and Aptiv UK. The study includes an indepth competitive analysis of these key players in the market with their company profiles, recent developments, and key market strategies.
The study covers the market across segments. It aims at estimating the market size and future growth potential of this market across different segments such as application, hardware, deployment, vehicle, and region. The study also includes an indepth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable gotomarket strategies. The report also helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
Original Article: Powertrain Sensor Market by Sensor Type for ICE Vehicle Position, Pressure, Speed, Temperature, Sensor Type for EV Position, Temperature, Current, Voltage, Propulsion, Powertrain Subsystem, Vehicle Type, EV Type, and Region Global Forecast to 2027 [PubliNEXT ARTICLE
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