The Automotive Electronics Sensor Aftermarket Market size was valued at USD 294.14 billion in 2023 and is expected to reach USD 502.79 billion by 2031 and grow at a CAGR of 7.09% over the forecast period 2024-2031.
The term "automotive electronics sensors" refers to the variety of sensors that are employed for the purpose of detecting, measuring, or recording the occurrence of physical phenomena. They will then respond by transmitting information, which will either affect the control of the system or initiate changes. These are considered integrated parts of vehicle systems and have been purposely developed for the purpose of detecting, analyzing, transmitting, and displaying information pertaining to the performance of the vehicle.
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The use of automotive electronics sensors is becoming increasingly commonplace in a variety of vehicles, including heavy-duty lorries and two-wheelers, amongst others. The dashboard, rain sensors, seat, climate control, tailgate close, trailer management, wipers, lighting, sunroof, and parking are just some of the automotive applications that make extensive use of these.
In January 2022, Robert Bosch GmbH created an advanced and revolutionary driver assistance system for city train transit. A signal is sent to the tram driver to alert him or her to the danger. It will automatically break the tram to a stop if the driver doesn't interfere.
KEY DRIVERS:
The market is expected to grow as a result of the increased use of alternative fuel cars.
Vehicle safety and emissions requirements are being tightened by the government.
The automotive electronics sensors are benefiting from an increase in investments and more money to spend.
RESTRAINTS:
The dangers of self-driving cars may act as a market restraint.
Emerging economies have a poorly developed aftermarket for vehicle sensors.
OPPORTUNITIES:
The market will benefit greatly from advances in "connected car" technology.
Lidar technology partnerships and cooperative ventures between vehicle manufacturers.
CHALLENGES:
The low replacement rate could pose a challenge to the market.
Uncertainty in the economy and the supply chain slowed down.
Because of the widespread COVID-19 pandemic, the global economy has suffered a significant setback, which has had a negative impact on the production of automobiles. As a result of the aftermath of the crisis, there have been disruptions in the supply chain, which has resulted in several production facilities coming to a halt. The outbreak has had a negative impact on sales of both commercial and passenger vehicles, which has, in turn, had an effect on demand in the automotive industry. The European Union market in the past has resulted in sales of automotive electronic components; however, in recent times, the adoption rate has witnessed a decline due to a dip in automotive sales in the region.
Based on the type segment, the global market has been divided into Oxygen sensors, LiDAR sensors, Temperature sensors, Position sensors, Pressure sensors, Speed sensors, and Others. As a result of the growing demand for increased fuel efficiency and decreased exhaust emissions in vehicles, the oxygen sensor segment is anticipated to dominate the market in the near future.
Market, By Application:
The global market has been divided into Powertrain, Body Electronics, Safety & Control, Telematics, and others based on the application segment. It is anticipated that the powertrain segment will hold the largest share of the market. This is due to the fact that the functionality of various powertrain ECUs and the enhancement of control with predictions based on the real-time execution of complex mathematical models are both present in this segment.
Market, By Vehicle Type:
Based on the vehicle type segment, the global market has been divided into Passenger cars, LCV, and HCV. As a result of an increase in the utilization of sensors in a variety of applications within passenger cars, it is anticipated that the passenger car segment will hold the largest share of the market.
By Type:
Oxygen sensor
LiDAR sensor
Temperature sensor
Position sensor
Pressure sensor
Speed sensor
Others
By Application:
Powertrain
Body electronics
Safety & control
Telematics
Others
By Vehicle Type:
Passenger cars
LCV
HCV
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With high automotive vehicle sales in countries such as China, India, Japan, New Zealand, South Korea, Australia, and Indonesia, accounting for 43.67 million units in 2019, Asia-Pacific is expected to offer promising growth opportunities for automotive electronics sensor aftermarket. This is due to the fact that Asia-Pacific is home to a large number of developing countries. The automotive electric sensors find applications in a variety of the systems that make up an electric car, including the powertrain and chassis, the body electronics, the vehicle safety and security, and others. As a result, it is anticipated that the expansion of the electric car market will boost the market for automotive electronics sensors in this area. One of the most important markets for the sale of vehicles in China.
REGIONAL COVERAGE:
North America
The USA
Canada
Mexico
Europe
Germany
The UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Denso Corporation (Japan), Standard Motor Products, Inc. (US), Delphi Technologies (UK), NGK Spark Plug CO., LTD (Japan), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), Valeo (France), Continental AG (Germany), Hella GmbH & Co. KGaA (Germany) Dorman Products (US), and Sensata Technologies Inc. (US) are some of the affluent competitors with significant market share in the Automotive Electronics Sensor Aftermarket.
Denso Corporation (Japan)-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 294.14Billion |
| Market Size by 2031 | US$ 502.79 Billion |
| CAGR | CAGR of 7.09% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Oxygen sensor, LiDAR sensor, Temperature sensor, Position sensor, Pressure sensor, Speed sensor, Others) • by Application (Powertrain, Body Electronics, Safety & Control, Telematics, Others) • by Vehicle Type (Passenger cars, LCV, HCV) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Denso Corporation (Japan), Standard Motor Products, Inc. (US), Delphi Technologies (UK), NGK Spark Plug CO., LTD (Japan), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), Valeo (France), Continental AG (Germany), Hella GmbH & Co. KGaA (Germany) Dorman Products (US), and Sensata Technologies Inc. (US) |
| Key Drivers | •The market is expected to grow as a result of the increased use of alternative fuel cars. •Vehicle safety and emissions requirements are being tightened by the government. |
| RESTRAINTS | •The dangers of self-driving cars may act as a market restraint. •Emerging economies have a poorly developed aftermarket for vehicle sensors. |
Ans: Automotive Electronics Sensor Aftermarket Market size was valued at USD 294.14 billion in 2023 and is expected to reach USD 502.79 billion by 2031.
The term "automotive electronics sensors" refers to the variety of sensors that are employed for the purpose of detecting, measuring, or recording the occurrence of physical phenomena. They will then respond by transmitting information, which will either affect the control of the system or initiate changes.
The Market is segmented into three segments, by type, by application, and by vehicle type.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Automotive Electronics Sensor Aftermarket Segmentation, By Type
8.1 Oxygen sensor
8.2 LiDAR sensor
8.3 Temperature sensor
8.4 Position sensor
8.5 Pressure sensor
8.6 Speed sensor
8.7 Others
9. Global Automotive Electronics Sensor Aftermarket Segmentation, By Application
9.1 Powertrain
9.2 Body electronics
9.3 Safety & control
9.4 Telematics
9.5 Others
10. Global Automotive Electronics Sensor Aftermarket Segmentation, By Vehicle type
10.1 Passenger cars
10.2 LCV
10.3 HCV
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 the USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 the UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Robert Bosch GmbH (Germany),
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Denso Corporation (Japan)
12.2 Standard Motor Products, Inc. (US)
12.3 Delphi Technologies (UK)
12.4 NGK Spark Plug CO., LTD (Japan)
12.5 BorgWarner Inc. (US)
12.6 Valeo (France)
12.7 Continental AG (Germany)
12.8 Hella GmbH & Co. KGaA (Germany)
12.9 Dorman Products (US)
12.10 Sensata Technologies Inc. (US)
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share analysis
13.3 Recent Developments
14. Conclusion
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