Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Market Overview

Motor vehicle sensor control and monitor the chemical, physical, and process changes of automobiles. Sensors are used to reduce fuel consumption as well as onboard the weight of vehicles and also comply with government norms for passengers’ safety. With the advent of technology, automobiles are now equipped with a diverse range of sensors providing information about safety, comfort, and other convenience and comfort functions. The demand for sensors is dependent on a number of factors, ranging from technological advances to foreign trade to micro- and macro-economic variables that seek to improve the system functionality.

The global motor vehicle sensor market is estimated to account for US$ 75,447.5 Mn in terms of value by the end of 2027.

Market Dynamics- Drivers

  1. Increasing need for legal and regulatory compliance is expected to drive growth of the global motor vehicle sensor market during the forecast period

Since vehicle laws and regulations have become stringent, there is rising need to comply with these regulations. As a result of this, the demand for motor vehicle sensors is increasing. For instance, the TREAD Act of 2000 mandates the requirement of tire pressure monitoring systems (TPMS) for all model year 2007 light vehicles for monitoring the air pressure in the vehicle tire and alerting the driver when the pressure in the tire is low. The new regulation requiring light vehicles to be equipped with ESC systems for all vehicles in 2012 creates new sales opportunities for sensor suppliers. Moreover, government mandates have increased the demand for proximity and positioning sensors. Hence, these factors are expected to drive growth of the global motor vehicle sensor market in the near future.

  1. Rising aftermarket sales are expected to propel the global motor vehicle sensor market growth over the forecast period

There is an increasing need to install sensor dependent systems in vehicles, due to enforcement of new regulatory laws by the government. As a result of this, there has been a massive growth of aftermarket sales of motor vehicle sensors. For instance, the U.S. government has enforced the requirement of replacing the TPMS (tire pressure monitoring system) every time the tires of the vehicle are changed, which approximates to once in four years. This ensures after-sale service once in four years for every vehicle sold. Moreover, global vehicle sales are increasing rapidly due to rising disposable income, which in turn, has increased the demand for vehicle sensors. Therefore, these factors are expected to boost the market growth in the near future.

Statistics:

APAC held dominant position in the global motor vehicle sensor market in 2019, accounting for 43.1% share in terms of value, followed by Europe, North America and RoW respectively.

Figure 1: Global Motor Vehicle Sensor Market Share (%), in terms of Value, By Region, 2019

Motor Vehicle Sensor  | Coherent Market Insights

Market Dynamics- Restraints

  1. High cost of implementation is expected to restrain growth of the global motor vehicle sensor market during the forecast period

The demand for automotive sensors is cost-sensitive, and the newly introduced vehicle sensors having a high cost of implementation find their application only in premium automotive. This cost sensitivity of the market has led to a decline in the sales of sensors, which in turn, is expected to restrain growth of the market during the forecast period.

  1. Challenges associated with safety threats in autonomous cars is expected to hinder the global motor vehicle sensors market growth over the forecast period

When it comes to autonomous cars, installing motor vehicle sensors becomes challenging. These challenges include safety of sensors and unauthorized access to car. As a result of this, the demand for these sensors is declining. Therefore, these factors are expected to hinder the market growth over the forecast period.

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Motor Vehicle Sensor Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$  28,659.0 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 11.2% 2027 Value Projection: US$  75,447.5 Mn
Geographies covered:
  • North America: U.S., Canada
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • RoW: Brazil, Argentina, Mexico, GCC Countries, Israel, South Africa, North Africa, Central Africa, Rest of the world.
Segments covered:
  • By Application: Engine and drivetrain, Safety and Security, Emission control, Others.
  • By Product Type: Physical property sensors, Process variable sensors, Proximity and positioning sensors, Chemical property sensors, Other sensors.
Companies covered:

Hitachi Ltd, Robert Bosch GmbH, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.

Growth Drivers:
  • Increasing need for legal and regulatory compliance
  • Rising aftermarket sales
Restraints & Challenges:
  • High cost of implementation
  • Challenges associated with safety threats in autonomous cars

Market Opportunities

  1. Rising mergers and acquisitions among market players can present lucrative growth opportunities

Key players in the market are focused on merger and acquisition activities, in order to enhance the market presence. For instance, in September 2012, Robert Bosch GmbH acquired SPX Service Solutions with an aim to become a comprehensive supplier of diagnostics and repair solutions in the automotive domain.

  1. Advent of sensor fusion can provide major business opportunities

Sensor fusion is combining sensory data or data obtained from disparate sources such that the resulting information has less uncertainty as compared to the sources when they are used individually. Sensor fusion reduces latency, increases performance speed, and collects more data for better decisions. Market players can capitalize on these opportunities and gain a competitive advantage in the market.

Figure 2: Global Motor Vehicle Sensor Market Value (US$ Mn), 2017 - 2027

Motor Vehicle Sensor  | Coherent Market Insights

The global motor vehicle sensor market was valued at US$ 28,659.0 Mn in 2019 and is forecast to reach a value of US$ 75,447.5 Mn by 2027 at a CAGR of 11.2% between 2020 and 2027.

Market Trends

  1. Research and development activities to innovate novel products

Key players in the market are focused on research and development activities, in order to innovate novel products and gain a competitive edge in the market. For instance, in July 2012, Denso Corporation developed a new vision sensor used in active safety systems. Moreover, in July 2012 Denso Corporation launched sensors for lane departure warning and automatic high beam control systems.

  1. High growth of Chinese market

China is the world’s largest market for motor vehicles and also the biggest manufacturer of motor vehicle products and equipment. The sensor demand across all major motor vehicle systems is closely tied to the developments in-vehicle use and production. The production of motor vehicles in China is continuously rising and this in turn is creating potential opportunities for the sensor market. Since the automobile market matures, Chinese consumers are becoming more concerned about fitting more technologically advanced sensors in their vehicles. Many have already purchased an entry-level vehicle and are ready to upgrade to newer and better models.

Value Chain Analysis

Motor Vehicle Sensor  | Coherent Market Insights

There are a variety of sensors available based on their application in the motor vehicle industry. The magnetic sensors used for measuring fluid flow rate, angular rotation and position, uses different soft magnetic core materials in addition with the other electronics and metal components. Photoelectric sensors are semiconductor devices that typically convert light energy into electrical measurements, but also can be used to measure humidity, strain, and temperature. Optoelectronic sensors include fiber optic, infrared, and laser devices. Fiber optic sensors are constructed from optical fiber components, and receive light signals through long, thin, flexible fibers made from glass or plastic.

Global Motor Vehicle Sensor Market- Impact of Coronavirus (Covid-19) Pandemic

According to Coherent Market Insights’ analysis, the impact of coronavirus (COVID-19) pandemic on the motor vehicle sensor market is moderate. Due to lockdown in countries such as China and India, supply chain is mainly disturbed. Furthermore, auto manufactures in India are temporary shut down their factoring to ensure safety of the workers. For instance, in March 2020, Bharat Forge Limited, an India based auto manufacture temporary closed Pune based main plant till further notice. Automotive industry before, pandemic also witnessed strong sales fall, this trend is expected to continue for few months, which will hamper the growth of the global motor vehicle sensor market during the forecast period.

Competitive Section

Key players operating in the global motor vehicle sensor market are Hitachi Ltd, Robert Bosch GmbH, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.

Key Developments

  1. Key players in the market are focused on product launches, in order to expand product portfolio. For instance, in January 2020, Hitachi Ltd. launched a stereo camera that allows automatic emergency braking (AEB) at intersections.
  2. Major market players are involved in product development, in order to gain a competitive edge in the market. For instance, in December 2019, Robert Bosch GmbH launched a new interior monitoring system that features camera and artificial intelligence.

Motor vehicle sensor control and monitor the chemical, physical, and process changes of automobiles. Sensors are used to reduce fuel consumption as well as onboard the weight of vehicles and also comply with government norms for passengers’ safety. The demand for sensors is dependent on a number of factors, ranging from technological advances to foreign trade to micro- and macro-economic variables that seek to improve the system functionality. The various sensor types are temperature sensors, exhaust gas, knock, air mass flow, and crankshaft position which subsequently are used to enhance powertrain performance (which comprises over 50% of the total applications of automotive sensors).

Increasing adoption and development in the electrical vehicle market is expected to create lucrative growth opportunities to the global motor vehicle sensor market during the forecast period. Electrical vehicle market is rapidly growing across the globe owing to increasing development in battery technology. According to Coherent Market insights analysis, global electric vehicle market is expected to register CAGR 29.2% during the forecast period 2020-2027. Electrical vehicles uses various sensors such as Voltage Sensor, Air Flow Sensor (as coolant), steering position sensor, paddle position sensor, and others. Thus, Increasing adoption and development in the electrical vehicle market is expected to create lucrative growth opportunities to the global motor vehicle sensor market during the forecast period.

In the recent past, the demand of automotive hybrid vehicle is increased in the global market which is expected to drive the global motor vehicle sensor market during the forecast period. For instance, in February 2020, Toyota Motor Corporation, a Japan based automotive manufacturer, launched self-charging hybrid EV Vellfire. A seven seater luxurious car launched it two electric motors and a hybrid battery to control emissions. Further, Coherent Market Insights analysis, global hybrid vehicle market is expected to grow with CAGR 15.3% during the forecast period 2020-2027. Thus, increasing hybrid vehicle market is expected to drive the global motor vehicle sensor market during the forecast period.

Market Taxonomy

This report segments the global motor vehicle sensor market on the basis of application, product type, and region. On the basis of application, the global motor vehicle sensor market is segmented into engine and drivetrain, safety and security, emission control, others. On the basis of end-use sector, the global motor vehicle sensor market is segmented into physical property sensors, process variable sensors, proximity and positioning sensors, chemical property sensors, other sensors. On the basis of region, the global motor vehicle sensor market is segmented into North America, Europe, Asia-Pacific, and RoW.

Key features of the study:

  • This report provides an in-depth analysis of the global motor vehicle sensor market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020-2027), considering 2019 as the base year.
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global motor vehicle sensor market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the global motor vehicle sensor market are Hitachi Ltd, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.
  • The market players are focusing on strategic collaborations to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The global motor vehicle sensor market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global motor vehicle sensor market.

Detailed Segmentation:

  • Global Motor Vehicle Sensor Market, By Application:
    • Engine and drivetrain
    • Safety and Security
    • Emission control
    • Others
  • Global Motor Vehicle Sensor Market, By Product Type:
    • Physical property sensors
    • Process variable sensors
    • Proximity and positioning sensors
    • Chemical property sensors
    • Other sensors
  • Global Motor Vehicle Sensor Market, By Region:
    • North America
    • Europe
    • Asia Pacific
    • Rest of the World (RoW)
  • Company Profiles
    • Hitachi Ltd*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Robert Bosch GmbH
    • Eaton Corporation
    • Denso Corporation
    • Continental AG
    • Delphi
    • Valeo

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Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New System Launch/Approval
  4. Impact of COVID-19 Pandemic on Global Motor Vehicle Sensor Market
    • Short Term and Long Term Impact, By Region
      • North America
      • Latin America
      • Europe
      • Asia-Pacific
      • MEA
    • Short Term and Long Term Impact, By Product Type
      • Physical property sensors
      • Process variable sensors
      • Proximity and positioning sensors
      • Chemical property sensors
      • Other sensors
  5. Global Motor Vehicle Sensor Market, By Application, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Engine and drivetrain
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Safety and Security
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Emission control
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Others
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  6. Global Motor Vehicle Sensor Market, By Product Type, 2017-2027 (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Segment Trends
    • Physical property sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Process variable sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Proximity and positioning sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Chemical property sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
    • Other sensors
      • Introduction
      • Market Size and Forecast, 2020–2027, (US$ Million)
  7. Global Motor Vehicle Sensor Market, By Region, 2017-2027  (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
    • North America
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • U.K.
        • Germany
        • Italy
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Regional Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Rest of the World
      • Region Trends
      • Market Size and Forecast, By Application, 2020–2027 (US$ Million)
      • Market Size and Forecast, By Product Type, 2020–2027 (US$ Million)
      • Market Share Analysis, By Country, 2019 and 2027 (%)
        • Brazil
        • Argentina
        • Mexico
        • GCC Countries
        • South Africa
        • Rest of the World
  8. Competitive Landscape
    • Company Profiles
      • Hitachi Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Robert Bosch GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Eaton Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Denso Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Continental AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Delphi
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Valeo
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

*Browse XX market data tables and XX figures on “Global Motor Vehicle Sensor Market-forecast to 2027”

Frequently Asked Questions

The global motor vehicle sensor market size was valued at US$ 28,659.0 billion in 2019 and is estimated to exhibit a CAGR of 11.2% between 2020 and 2027.
Engine and Drivetrain, segment held the major market share in 2019 owing to increasing need for legal and regulatory compliance
Major factor driving the growth of global motor vehicle sensor market during the forecast period are increasing need for legal and regulatory compliance and rising aftermarket sales.
Major factor hampering the growth of the motor vehicle sensor market during the forecast period is high cost of implementation.
APAC, motor vehicle sensor market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Hitachi Ltd, Robert Bosch GmbH, Robert Bosch GmbH, Eaton Corporation, Denso Corporation, Continental AG, Delphi, and Valeo.
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