Latest News- Automotive Engine Sensors Market: Process sensors is expected to lead the Product segment during 2024-2028

The Automotive Engine Sensors Market is being driven by Increasing demand for vehicle and environmental safety

The Automotive Engine Sensors Market is expected to grow at a CAGR of 3.27% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4239.3 million. The MEMS (Micro-Electro-Mechanical Systems) packaging industry has experienced significant growth and innovation, driven by the demand for smaller, more integrated sensors. This trend is particularly notable in the automotive sector, where the integration of 9-axis sensors into a single package is increasingly important. Vendors must also prioritize standardization in MEMS packaging to accommodate the substantial increase in sensor unit shipments. Despite the challenges posed by rapid technological advancements in consumer electronics, some industry leaders are pursuing material standardization for various MEMS sensors. Other trends in MEMS packaging include low-temperature wafer bonding, MEMS packaging at the wafer dicing level, doped polysilicon, and silicon interposers. These advancements aim to improve sensor performance, reduce size, and enhance overall efficiency in the automotive engine sensors market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Process sensors
  • Position sensors
• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for vehicle and environmental safety
• Increasing demand for Inertial Measurement Units (IMU) sensors due to advancements in manufacturing technology
• Stringent government regulations on emission control

However, the market also witnesses some limitations, which are as follows:

• Low profitability for vendors in the global automotive engine sensors market
• Issues related to inappropriate tuning of sensors
• Growing sales of all-electric cars

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Market Scope in Automotive Engine Sensors Market Research Report

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Research Analysis Overview

The Automotive Engine Sensors Market is witnessing significant growth due to the increasing demand for advanced driver assistance systems (ADAS) and electrification in vehicles. O2 sensors continue to dominate the market due to their importance in monitoring the fuel-air mixture for optimal combustion and reducing CO2 emissions. Manifold pressure sensors, wheel speed sensors, incoming air temperature sensors, and other electronic sensors are essential for engine management and vehicle safety. The Electronic-Control-Unit (ECU) plays a crucial role in processing sensor data and ensuring efficient engine performance. With the rise of autonomous driving, side-impact collisions, and the protection of vulnerable road users, the demand for advanced sensors like LiDAR technology is increasing. Fuel efficiency standards, electrification, connected cars, and vehicle automation are driving the need for cost-effective, energy-efficient, and compact sensors. HVs (Hybrid Vehicles) and EVs (Electric Vehicles) require specialized sensors for battery management and charging systems. Comfort and driver safety are key considerations for automakers, leading to the integration of various sensors for climate control, seat positioning, and vehicle authentication. Road accidents continue to be a concern, and advanced sensors are being developed to improve vehicle safety and prevent accidents. In conclusion, the automotive engine sensors market is poised for growth due to the increasing demand for advanced features, electrification, and vehicle automation. The market is expected to continue its expansion, driven by the need for improved fuel efficiency, driver safety, and vehicle authentication.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various automobile segments, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers in the automotive parts and equipment sector include the escalating demand for electronic control units (ECUs) and other electrical components due to the rising sales of ECVs, motorcycles, and PCs in the past decade.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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