Redding, California, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Automotive Powertrain Sensors Market By Sensors Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), and Vehicle Type (ICE, EV) - Global Forecast To 2028,” published by Meticulous Research®, the automotive powertrain sensors market is expected to grow at a CAGR of 6% from 2021 to 2028 to reach $26.47 billion by 2028. By volume, the automotive powertrain sensors market is expected to reach 5,615.2 million units by 2028, at a CAGR of 8.3% from 2021.
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Powertrain sensors are highly precise electrical sensors used to monitor engine parameters, such as air mass, pressure, & speed, and send these data to electronic control units for optimizing vehicle performance. Powertrain sensors play a significant role in the operation mechanism of the engine, transmission, exhaust, and steering. These sensors effectively monitor and optimize powertrain parameters, such as temperature, pressure, position, and speed. Vehicle efficiency majorly depends on the accuracy, precision, and response time of powertrain sensors. These sensors can effectively detect the soot, NOx, and oxygen levels in the engine exhaust to comply with various emission norms and regulations worldwide. Powertrain sensors play a very important role in producing vehicles that conform to these stringent emission regulations.
Impact of COVID-19 on the Automotive Powertrain Sensors Market
The effect of COVID- 19 has had a wide-scale impact on the daily life of people and has also affected businesses ranging from small to large scale. The impact on the automotive powertrain sensors industry is estimated to be higher due to declining automotive production & sales of new vehicles, disrupted supply chain, and reduction in new investments.
The global demand for automotive powertrain sensors witnessed a significant decline due to the shutdown of various automobile manufacturing facilities across the globe. The decreased export of motor vehicles coupled with declining consumer buying power due to economic downfall induced by the pandemic severely affected the automotive sensors market in general. The pandemic also has an adverse effect on the automotive supply chain due to lockdowns prevailed in many regions worldwide. The supply chain of the powertrain sensor industry faces a lack of raw material, shift of manufacturing facilities to other countries, cash crisis, and declined customer demand.
The automotive powertrain sensors market is facing a significant downfall due to the low demand for automotive and disrupted supply chain, and the market is expected to be negatively impacted due to the COVID-19 pandemic. Manufacturing activities will gradually emerge once the situation begins to normalize and hence the adoption of automotive powertrain sensors, but is unlikely to be enough to compensate for the previous loss.
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Lack of Harmonization in System Integration
The number of sensors in powertrain monitoring and diagnosis applications is increasing due to stringent fuel economy and emission regulations and the rising adoption of hybrid powertrains. However, there is a huge drawback in their adoption and integration with other components due to the lack of standards among different sensor manufacturers. Additionally, sensors generate tons of data, and the processing power of on-board computers in automotive is very limited. Automotive manufacturers face integration problems with sensors sourced from different manufacturers.
Moreover, sensors must be strategically positioned to feedback information on the vehicle’s powertrain performance. If not chosen correctly, the wrong working conditions and data loss can severely damage the sensor’s performance leading to reduced sensitivity, less accuracy, or wrong position reading. Additionally, power consumption in the sensor is a key challenge. All the powertrain and driver assistance sensors can consume up to 100 W to 200 W and generate 4 g of CO2. These factors are increasingly becoming challenging for the growth of powertrain sensors during the forecast period.
To provide efficient analysis, Meticulous Research® has segmented the overall automotive powertrain sensors market based on sensor type (temperature, position, exhaust, pressure, speed, knock, and others), powertrain subsystems (engine management, transmission management, and power steering), vehicle type (ICE and EV), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa).
Based on sensor type, the overall automotive powertrain sensors market is segmented into temperature sensors, position sensors, exhaust sensors, pressure sensors, fluid concentration sensors, knock sensors, speed sensors, torque sensors, current sensors, and voltage sensors. The current sensors segment is projected to grow at the highest CAGR during the forecast period. This segment's rapid growth is mainly attributed to the rising adoption of electric & hybrid vehicles and government support & subsidies for manufacturing & sales of electric vehicles.
Based on powertrain subsystem, the automotive powertrain sensors market is segmented into engine management sensors, transmission management sensors, and power steering sensors. The engine management segment is projected to account for the largest share of the automotive powertrain sensors market in 2021. However, the transmission management segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the growing adoption of hybrid and plug-in hybrid electric vehicles requiring multiple sensors to measure torque, the position of gears, and power delivery.
Based on vehicle type, the automotive powertrain sensors market is segmented into internal combustion engine vehicles, electric vehicles, and hybrid vehicles. The internal combustion engine vehicles segment is poised to command the largest share of the market in 2021. The OEMs worldwide are increasingly trying to track and monitor every aspect of the engine to make them more fuel-efficient and ensure lower emissions, due to which automotive powertrain sensors for internal combustion engines will dominate the market during the forecast period. However, the electric vehicles segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the adoption of electric vehicles due to increasing government efforts and subsidies worldwide for manufacturing and sale of electric vehicles and reduce the dependence of transportation on gasoline and diesel vehicles.
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Geographically, the global automotive powertrain sensors market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region is estimated to account for the largest share of the global automotive powertrain sensors market in 2021, followed by Europe, North America, Latin America, and the Middle East & Africa. The region is also expected to record the highest CAGR during the forecast period. The factors contributing to the rapid growth of this regional market are elevated demand for automobiles in the APAC region; high production of automobiles driven by huge demand from economies such as China, India, and Japan; upgradation of powertrain systems due to rising consumer awareness regarding environmental effects of automotive emissions; and increasing infrastructural developments in India and Southeast Asian countries.
The COVID-19 outbreak occurred in Wuhan, China, one of the largest automotive manufacturing hubs globally. Global automotive manufacturers, such as Honda, Nissan, Peugeot Group, as well as hundreds of auto parts suppliers have their manufacturing facilities in China. Approximately 80% of automotive production worldwide contains Chinese parts. Hence, the nationwide lockdown imposed in China resulted in disruption in the supply chain and severe parts shortage. The virus-related lockdown led to a loss of 1.7 million vehicle production units and an approximately 40% decline in new vehicle sales in China. This negatively impacted the powertrain sensors market in China since the demand from automotive OEM manufacturers steeply declined due to the pandemic.
However, the demand for powertrain sensors started to rebound in the second half of 2020, majorly due to the restart of production in China. In April 2020, the sales of passenger vehicles in China grew by 4.4% to 2.1 million units, approximately equal to the pre-COVID-19 level. The major factor which attributed to the growth of automotive demand from China is the increasing demand of high-end passenger vehicle segment, significant control over the spread of coronavirus in the later months of 2020, and significant investment by the foreign automakers in China to compensate for the weaker sales in rest of the world. These factors are supporting the growth of the powertrain sensors market in China during the forecast period.
The global automotive powertrain sensors market is dominated by the top five players, namely, ZF Friedrichshafen AG (Germany), Denso Corporation (Japan), Renesas Electronics Corporation (Japan), Valeo (France), and STMicroelectronics N.V. (Switzerland). Other key players operating in the automotive powertrain sensors market are HELLA GmbH & Co. KGaA (Germany), TE Connectivity (Switzerland), Mitsubishi Electric Corporation (Japan), Infineon Technologies AG (Germany), CTS Corporation (U.S.), Delphi Technologies (U.K.), NXP Semiconductor N.V.(Netherlands), Robert Bosch GmbH (Germany), Texas Instruments (U.S.), and PCB Piezotronics Inc. (U.S.). These players continuously focus on new product development & launches and mergers & acquisitions to increase their respective market shares.
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Scope of the Report
Automotive Powertrain Sensors Market, by Sensor Type
- Temperature sensors
- Thermocouple
- Thermistor
- Silicon
- Position sensors
- Capacitive
- Inductive
- Magnetic
- Exhaust sensors
- Lambda/Oxygen sensors
- Nitrogen sensors
- Soot sensors
- Ammonia sensors
- Pressure sensors
- Fluid concentration sensors
- Knock sensors
- Speed sensors
- Torque sensors
- Current sensors
- Voltage sensors
Automotive Powertrain Sensors Market, by Powertrain Subsystems
- Engine Management Sensors
- Pressure sensors
- Fluid concentration sensors
- Position sensors
- Temperature sensors
- Exhaust sensors
- Knock sensors
- Transmission management sensors
- Speed sensors
- Position sensors
- Temperature sensors
- Pressure sensors
- Power steering sensors
- Torque sensors
- Speed sensors
- Position sensors
- Temperature sensors
Automotive Powertrain Sensors Market, by Vehicle Type
- Internal Combustion Engine Vehicles
- Passenger
- Pressure sensors
- Position sensors
- Temperature sensors
- Exhaust sensors
- Speed sensor
- Others
- Light Commercial Vehicles
- Pressure sensors
- Position sensors
- Temperature sensors
- Exhaust sensors
- Speed sensors
- Others
- Heavy Commercial Vehicles
- Pressure sensors
- Position sensors
- Temperature sensors
- Exhaust sensors
- Speed sensors
- Others
- Passenger
- Electric vehicle
- Battery Electric Vehicles
- Speed sensors
- Torque sensors
- Current sensors
- Voltage sensors
- Position sensors
- Temperature sensors
- Fuel Cell Electric Vehicles
- Speed sensors
- Torque sensors
- Current sensors
- Voltage sensors
- Position sensors
- Temperature sensor
- Plug-in Hybrid Electric Vehicles
- Speed sensors
- Torque sensors
- Current sensors
- Voltage sensors
- Position sensors
- Temperature sensors
- Hybrid Electric Vehicles
- Speed sensors
- Torque sensors
- Current sensors
- Voltage sensors
- Position sensors
- Temperature sensors
- Battery Electric Vehicles
Automotive Powertrain Sensors Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K
- France
- Italy
- Spain
- Russia & CIS
- Rest of Europe
- Asia-Pacific (APAC)
- Japan
- China
- South Korea
- India
- Thailand
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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