Passenger Car Sensors Market to Hit USD 8.75 Bn. by 2029 Competitive Landscape, New Market Opportunities, Growth Hubs, Return on Investments

Passenger Car Sensors Market to Hit USD 8.75 Bn. by 2029 Competitive Landscape, New Market Opportunities, Growth Hubs, Return on Investments

December 14
18:40 2022
Passenger Car Sensors Market to Hit USD 8.75 Bn. by 2029 Competitive Landscape, New Market Opportunities, Growth Hubs, Return on Investments
Passenger Car Sensors Market
Passenger Car Sensors Market size was valued at US$ 4.66 Bn. in 2021 and the total Passenger Car Sensors revenue is expected to grow at 8.2% from 2022 to 2029, reaching nearly US$ 8.75 Bn.

Pune, 14, Dec2022: The report published by Maximize Market research, on Passenger Car Sensors Market covers an extensive regional analysis and competitive landscape. Over the forecast period, Maximize Market research expects, the market to growth from 4.66 Bn in 2021 to 8.75 Bn in 2029 at a CAGR of 8.2%.

Passenger Car Sensors Market Scope and Research Methodology

The study analyses the market segments for passenger car sensors (Type, Application, Sales Channel, and region). Areas and market participants have provided information (North America, Asia Pacific, Europe, the Middle East, Africa, and South America). Passenger car sensors market study offers a thorough analysis of both the current situation and the quick technical advancements occurring in all business areas. Key data analysis for the past and contemporary eras is provided using facts, figures, graphs, and presentations. The paper discusses the market forces, constraints, opportunities, and challenges for passenger car sensors. The competitive landscape for passenger car sensors includes information on the revenue, financial condition, portfolio, technological adoption, mergers and acquisitions, and market share breakdowns for the leading market participants.

The bottom-up methodology was used to validate the market size and its estimation by various segments. The data was gathered using both primary and secondary sources. The main methodologies involved conducting surveys, distributing questionnaires, and phoning company owners, industry leaders, and marketing specialists. Secondary data was painstakingly collected from a carefully chosen set of sources to guarantee that the inferences were as trustworthy as possible. In addition to paid databases, this also consists of official databases from various organisations and government websites, trade publications, white papers, annual reports, and product announcements from industry manufacturers and suppliers.

SWOT analysis was conducted to identify the strengths and weaknesses of the Passenger Car Sensors market, while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Passenger Car Sensors market.

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Passenger Car Sensors Market Overview

Passenger car sensors have long been an essential part of the car, contributing significantly to driving efficiency, stringent pollution restrictions, safety, and comfort concerns. They include advanced driver assistance systems, occupant identification, electronic stability control, heating, ventilation, and air conditioning, among other advancements. The industry, which is in charge of this field’s technological advancements, has grown as a result of rising demand. The entire vehicle, from the engine to the exhaust system, is equipped with sensors. They typically monitor temperature, pressure, voltages/currents, vacuum, and other variables in powertrain/drivetrain, chassis, and body control applications.

Passenger Car Sensors Market Dynamics

A significant factor in the market’s growth is the increasing use of autonomous passenger vehicles. Autonomous driving is one of the main factors driving up the need for passenger vehicle sensors. The majority of automotive sensor markets are expanding alongside the overall growth of the automotive industry. The main reason for the rise in demand for car sensors is the widespread usage of ADAS and AD systems. The most significant factor driving the growth of the automotive sensor market is the use of image sensors, temperature sensors, position sensors, and other sensors in ADAS/AD systems.

A significant barrier to industry growth is the underdeveloped aftermarket for automotive sensors in emerging nations. The passenger car sensors market is dominated by OEMs thanks to the underdeveloped aftermarket for vehicle sensors. For a number of various industry sectors, including industrial sensors and home automation devices, the aftermarket is crucial in promoting market growth. However, the majority of technical specifications for car sensors are provided by the vehicle manufacturer or a tier 1 supplier, which is the main cause of the challenges in commercialising automotive sensors. Similar to the above, the market for different new sensors, such as radar, LIDAR, and proximity sensors, is relatively small due to the lower penetration of these sensors in autos. The aftermarket is marginally established in industrialized nations such as North America and Europe, but it is considerably underdeveloped in APAC’s rising economies.

Passenger Car Sensors Market Regional Insights

The European Passenger Car Sensors Market is expected to grow at a CAGR of 9.3% during the forecast period. Numerous European startups are tied to the growth. Sensor technology is being developed by the auto industry to improve automobiles and enable complete autonomy. The Norwegian company TracSense develops high-end car sensor system solutions. Every 50 milliseconds, the business measures road friction using optical sensors that are installed on cars.

Passenger Car Sensors Market Segmentation 

By Type:

  • Temperature Sensors
  • Pressure Sensors
  • Oxygen Sensors
  • NOx Sensors
  • Position Sensors
  • Speed Sensors
  • Inertial Sensors
  • Image Sensors
  • Others

By Application:

  • Powertrain Systems
  • Chassis
  • Exhaust Systems
  • Safety & Control Systems
  • Vehicle Body Electronics
  • Telematics Systems
  • Others

By Sales Channel

  • OEM
  • Aftermarket

Passenger Car Sensors Market Key Manufacturers: 

  • Robert Bosch GmbH
  • Continental AG
  • DENSO Corporation
  • Infineon Technologies AG
  • BorgWarner, Inc.
  • Sensata Technologies
  • Allegro Microsystems, Inc.
  • Analog Devices, Inc.
  • ELMOS Semiconductor SE
  • Aptiv plc
  • NXP Semiconductors N.V.
  • STMicroelectronics N.V.
  • CTS Corporation
  • Autoliv, Inc.
  • TE Connectivity
  • ZF Friedrichshafen
  • Valeo S.A.
  • Magna International
  • Melexis N.V.
  • ON Semiconductor
  • Amphenol Advanced Sensors
  • LeddarTech
  • Velodyne LiDAR
  • Quanergy
  • Innoviz Technologies

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Key questions answered in the Passenger Car Sensors Market are: 

  • What is Passenger Car Sensors? 
  • What are the key factors driving the growth of Passenger Car Sensors market?
  • What is the growth rate of Passenger Car Sensors Market for the forecast years? 
  • What is the nature of competition in Passenger Car Sensors industry in developed and developing economies? 
  • Who are the key players in the Passenger Car Sensors Market?
  • Who are the market leaders in Passenger Car Sensors in Europe?
  • Who are the market leaders in Passenger Car Sensors in USA and Canada?
  • Who are the market leaders in Passenger Car Sensors in India, China, Japan and South Korea?
  • Who held the largest market share in Passenger Car Sensors Market? 
  • What are the factors for the growth of Asia-Pacific region in Passenger Car Sensors Market?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
  • Market Segmentation – A detailed analysis by Type, Application, Sales Channel, and Region.
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Maximize Market Research is leading research firm, has also published the following reports:

Consumer Electronics Sensor Market – Consumer Electronics Sensor Market size is expected to reach USD 55.93 billion by 2029 at a CAGR of 16.32 percent during the forecast period. Increased investments in R&D are likely to drive the global consumer electric sensors market growth over the forecast period.

Automotive Sensor Market – Automotive Sensor Market size is expected to reach USD 21.70 billion by 2029 at a CAGR of 8.2 percent during the forecast period. Growing demand for electric vehicles, solar-powered vehicles, increasing concern to reduce global emission, increased awareness about safety and regular maintenance of vehicle engines, and development in sensor technology are the main factors driving the growth of the automotive sensor market.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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