The automotive temperature sensor market is estimated to grow at a CAGR of 5.58% during the forecast period, to reach USD 11.89 Billion by 2025. Stringent norms to control CO2 emission are expected to fuel the growth of automotive temperature sensor market. The rising trend of vehicle electrification and growing demand for safety and comfort are some of the other factors driving the growth of the automotive temperature sensor market.
The increasing demand for the high-performance engine would propel the demand for automotive temperature sensor. Also, Tier 1 manufacturers are forming collaborations and joint ventures to offer advanced technology and innovative products. For instance, in June 2015, TE Connectivity collaborated with Andretti Technologies to enhance its technology in electric vehicles and auto sports. This partnership would leverage TE’s expertise in sensors and connectors, including its DEUTSCH Autosport range of products, sensors and Raychem cable and wire. The partnership would help to accelerate development in several areas including battery, electric motor, inverter, and chassis.
The automotive temperature sensor market is dominated by a few global players and many regional players. The ecosystem of the automotive temperature sensor market includes raw material supply, research & development, assembly and manufacturing, system integration, marketing and sales, end-users, and post sales service. The report showcases the major players in the automotive temperature sensor market and competitive leadership mapping. The competitive leadership reveals the company’s position in the temperature sensor market. A few of the key players include Robert Bosch (Germany), Continental (Germany), Panasonic (Japan), Delphi (UK), and TDK Corporation (Japan).
Continental AG is one of the top 5 automotive suppliers in the world. The company established its automotive system’s division in 1995 to further expand its systems business within the automotive industry. It operates in two business groups—automotive group and rubber group. The company provides a wide range of automotive sensors such as position sensor, mass airflow sensor, temperature sensor, and smart NOx sensor. The company invests heavily in research and development to innovate new technologies. For instance, in 2015, the company inaugurated a 13,000 square meter facility to expand its R&D capabilities in Bangalore (India). This facility would help to meet the increasing demand for engineering and software development skills and support the global R&D projects and local customers.
TDK Corporation is another key player in the automotive temperature sensor market. The company offers negative temperature coefficient thermistor for automotive application. The company focuses on mergers & acquisitions to stay ahead of its competitors and increase its product capabilities. For instance, in May 2017, TDK acquired InvenSense for innovating next-generation products and provide a new platform with sensor fusion that combines various sensor technologies.
Other major players in the temperature sensor market for automotive are focused on expanding their regional presence to achieve continuous and sustainable development. This is evident from several collaborations and joint venture projects these companies have undertaken in recent years.
Automotive Temperature Sensor Market by Application (Engine, Exhaust, Seats), Product (Thermocouple, MEMS, IC Sensor), Usage, Technology, EV Application (Battery, Motor), EV Charging Tech (Wired, Wireless), Vehicle, and Region - Global Forecast to 2025
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