Major players in the automotive temperature sensor market are Continental AG, Panasonic Holdings Corporation, Sensata Technologies Holding plc, NXP Semiconductors NV, Analog Devices Inc, Microchip Technology Inc, TE Connectivity Ltd, Rohm Semiconductor, Murata Manufacturing Co Ltd, ZF Friedrichshafen AG, Amphenol Corporation, Denso Corporation, Locon Sensor Systems Inc, MTI Industrial Sensors, and Temperature Specialists Inc.
New York, Dec. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Automotive Temperature Sensor Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06370328/?utm_source=GNW
The global automotive temperature sensor market is expected to grow from $ 8.36 billion in 2021 to $ 9.16 billion in 2022 at a compound annual growth rate (CAGR) of 9.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The automotive temperature sensor market is expected to reach $ 11.70 billion in 2026 at a CAGR of 6.3%.
The automotive temperature sensor market consists of sales of automotive temperature sensors by entities (organizations, sole traders, and partnerships) that are used to measure temperature in an automobile.These devices usually consist of a thermocouple, thermistor, resistance temperature detector (RTD), or infrared device.
The automotive temperature sensor is a device that measures and detects the heat produced and converts it into an electrical signal, which can be identified by measuring the device to ensure temperature control for a long and healthy life of the motor vehicle.
The main product types of automotive temperature sensors are thermistor, resistance temperature detector, thermocouple, IC temperature sensor, mems temperature sensor, and infrared sensor.Thermistor sensors are used to measure and control temperature and are durable.
A Thermistor refers to a type of semiconductor that possesses resistance to temperature.The different technologies include contact and non-contact.
The different usages include gas, liquid, and air that are used in passenger cars and commercial vehicles. The several applications include engine, transmission, HVAC, exhaust, and thermal seats.
Asia Pacific was the largest region in the automotive temperature sensor market in 2021.Asia Pacific is expected to be the fastest growing region in the forcaste period.
The regions covered in the automotive temperature sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in the prevalence of autonomous vehicles is expected to propel the growth of the automotive temperature sensor market going forward.An autonomous vehicle refers to a motor vehicle that operates without the support of human effort to drive on the road.
Automatic vehicles use temperature sensors to keep a measure of vehicle engine temperatures and accordingly switch on the cooling fans to maintain an optimally required engine temperature.This helps to increase the vehicle’s performance.
For instance, in February 2022, according to a report published by Carsurance, an Egypt-based car insurance company, in 2021 the global production of autonomous vehicles reached 39.06 million, an increase of 4.58 million from 2020. Therefore, the increase in the prevalence of autonomous vehicles is driving the growth of the automotive temperature sensor market.
Rapid advancements in technology have emerged as a key trend gaining popularity in the automotive temperature sensor market.Major companies operating in the automotive temperature sensor sector are focused on technological advancements to lead the market.
For instance, in May 2022, Continental, a Germany-based automotive parts manufacturing company, launched two new sensors, the Current Sensor Module (CSM) and the Battery Impact Detection (BID) system, for electrified vehicles.The CSM is a two-channel sensor that measures by integrating shunt technology and hall technology into a single unit.
The CSM measures temperature in the range between -40 °C and 125 °C.
In October 2020, BorgWarner Inc., a US-based company that provides automotive components acquired Delphi Technologies for a deal amount of $ 3.3 billion. This acquisition helps BorgWarner to increase its power vehicle and electronic product portfolio, enter to UK market, and to expand its business in Europe. Delphi Technologies is a UK-based automotive part manufacturing company.
The countries covered in the automotive temperature sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The automotive temperature sensor market research report is one of a series of new reports that provides automotive temperature sensor market statistics, including global market size, regional shares, competitors with an automotive temperature sensor market share, detailed automotive temperature sensor market segments, market trends and opportunities, and any further data you may need to thrive in the automotive temperature sensor industry. This automotive temperature sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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