Global Automotive Temperature Sensors Market to be Worth USD 5.27 Billion by 2021: Technavio

Technavio has published a new report on the global automotive temperature sensors market from 2017-2021. (Graphic: Business Wire)

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LONDON--()--The global automotive temperature sensors market is expected to grow at a CAGR of close to 6% during the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global automotive temperature sensors market for 2017-2021. The research report categorizes the market into passenger cars and commercial vehicles by vehicle type.

 
The global automotive temperature sensors market size is expected to grow to USD 5.27 billion by 2021. The increasing demand for safe and better automotive vehicles that are compliant with environmental regulations is driving the demand for temperature sensors.
 

Technavio’s research study segments the global automotive temperature sensors market into the following regions:

  • APAC
  • Americas
  • EMEA

APAC: largest automotive temperature sensors market segment

APAC is the largest regional segment of the global automotive temperature sensor market, responsible for generating almost 50% of the total revenue. China, Japan, and India are the leading contributors in the region, driven by increased adoption of passenger cars,” says Neelam Barua, one of the lead analysts at Technavio for automotive electronics research.

The promising economic growth potential in APAC is attracting global automobile manufacturers to the region. These players are investing in technologically advanced mass-production systems, thereby driving the demand for automotive temperature sensors.

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Americas: increased concerns over vehicle safety driving market segment

The US and Canada are the major contributors to the temperature sensors market in the Americas. The demand for temperature sensors in these countries is driven by government regulations, which are playing a crucial role in the wider application of temperature sensors in the region. Strict emission norms and increasing concerns regarding road safety, passenger safety, and vehicle security are expected to boost the market growth in the Americas. Additionally, the rising adoption of electric vehicles in the Americas provides notable prospects for the automotive temperature sensors market.

EMEA: market segment driven by strict emission norms

The automotive temperature sensors market in EMEA is driven by the imposition of stringent emission norms in Europe. The implementation of Euro VI norms will have a positive impact on the adoption of powertrain sensors in the region, thereby driving market growth,” says Neelam.

The adoption of emission sensors in engine exhaust management and exhaust after-treatments is resulting in an added incentive to develop technologically-advanced automotive emission sensors that help the vehicles to meet emission standards. Also, continuous monitoring of emissions in the Middle East and Africa is expected to fuel the automotive temperature sensors market in the region.

The top automotive temperature sensor manufacturers highlighted in the report are:

  • Continental
  • Sensata Technologies
  • Bosch
  • Delphi
  • NXP Semiconductors

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global automotive temperature sensors market is expected to grow at a CAGR of close to 6% during the forecast period, according to Technavio’s latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com