According to the latest research report, Automotive Temperature Sensor Market Size was valued at USD 6.8 Billion in 2023. The Automotive Temperature Sensor Market industry is projected to grow from USD 7.20 Billion in 2024 to USD 10.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2024–2032). Rising demand for electric vehicles and advanced driver assistance systems (ADAS) are the key market drivers enhancing market growth.
Stringent pollution regulations, increased need for fuel economy, and better vehicle security contribute to the development of the automobile temperature sensor market. The global automotive engine temperature sensor marketplace is predicted to increase rapidly in the coming years, thanks to manufacturers' need to comprehend the vehicle's efficiency and operational parameters.
Because of the economic catastrophe brought on by the COVID-19 epidemic, the average consumer's purchasing power has been substantially diminished. Additionally, the manufacture of automobiles is being badly disrupted all around the globe. All of this has had a detrimental influence on the market for car temperature sensors.
Market Segmentation
According to the reports, the global automotive temperature sensor market is split into three categories applications, product type, and vehicle type.
It is predicted that the MEMS temperature sensor industry will develop the fastest during the next several years. As new technologies have emerged in recent years, improved MEMS temperature sensors have seen a surge in their utilisation. There is a growing demand for luxury automobiles throughout the world and a decrease in the wire harness, which necessitates emerging innovations such as MEMS and IC sensors. Temperature sensors made of MEMS are extensively employed in electric and conventional automobiles of various types.
Over the projected period, the Automotive Temperature Sensor Industry is forecasted to develop at the fastest rate of any other market. Improved MEMS temperature sensors have become more popular due to the growth of cutting-edge technology. The need for MEMS temperature sensors, integrated circuits, and thermal imaging sensors is anticipated to grow. The introduction of luxury automobiles all over the globe and the lowering of the wire harness will pave the way for future innovations. All of the main conventional construction and electric car applications rely on MEMS temperature sensors, which are commercially available.
Regional Classification
According to the reports, on the basis of region, the global Automotive Temperature Sensor Market is divided into Asia pacific, north America, and the middle east and Africa.
A rise in stringent emissions regulations for vehicles, a growth in demand for sophisticated automated control systems, and a growth in automotive temperature sensors in this area have all contributed to Asia-dominance Pacific's automotive temperature sensor industry. North America and Europe are predicted to be the fastest-growing regions in the automotive temperature sensor market, owing to the increasing stringency of regulatory requirements addressing security in these areas.
Industry News
The month of October 2018 - The EPCOS NTC temperature sensor from TDK Corporation is intended to monitor temperatures from -10 °C to +300 °C. A wide range of automotive and industrial electrical devices may use the sensor. Thermal sensors with ceramic sleeves may be used in harsh environments and are resistant to acidic fluids, such as hydrochloric acid.
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