Latest News- Automotive Position Sensor Market: OEM is expected to lead the Channel segment during 2025-2029

The Automotive Position Sensor Market is being driven by Growing number of vehicles-in-use

The Automotive Position Sensor Market is expected to grow at a CAGR of 10.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 5743.5 million. The automotive industry's focus on enhancing fuel efficiency, safety, and reducing emissions has led to an increased demand for position sensors in vehicles. These sensors, including the camshaft position sensor, contribute to optimizing engine operations and improving overall vehicle performance. With growing consumer preferences for advanced safety and performance features, automotive position sensor suppliers are in high demand. Furthermore, the expanding middle class in developing regions, particularly in Asia Pacific, is driving significant investments in passenger cars, thereby fueling market growth for automotive position sensors. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Channel
  • OEM
  • Aftermarkets
• Vehicle Type
  • Passenger car
  • LCV and HCV
• Product Type
  • Angular
  • Multi-axis
  • Linear
  • Others
• Geography
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • US
  • Middle East and Africa
  • South America

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

• Growing number of vehicles-in-use
• Increasing adoption of emission norms
• Increasing product launch in automotive position sensor

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

• Low reliability on sensors due to improper functioning
• High costs associated with research and development of position sensors
• Lack of sales in aftermarket channel

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Market Scope in Automotive Position Sensor Market Research Report

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Research Analysis Overview

The Automotive Position Sensor Market encompasses various types of position sensing technologies, including non-contact and contact methods. High-resolution and low-power sensing are essential for improved performance and efficiency. Robust and high-speed sensing ensure reliable operation in harsh automotive environments. Digital and analog position sensing, as well as wireless, embedded, and multi-axis sensing, offer unique advantages. Position sensor durability, signal filtering, data logging, fault detection, self-test, real-time sensing, and control systems are crucial features. Sensor array technologies, temperature and vibration compensation, miniaturization, packaging materials, manufacturing processes, and cost-effectiveness are essential considerations for the market.

Market Research Overview

The automotive components and equipment market encompasses businesses producing parts and accessories for various automobile categories, 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, market size is determined by the consolidated revenue generated by manufacturers of automotive components and equipment. Key growth drivers in the global automotive parts and equipment sector include the escalating demand for electronic control units (ECUs) and other electronic components due to the rising sales of EVs, motorcycles, and PCs. The automotive industry's shift towards electrification and advanced technologies is fueling the need for precise position sensors, such as hall effect sensors, linear position sensors, rotary position sensors, and angular position sensors, to optimize vehicle performance and efficiency.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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