Passenger Car Sensor Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Pressure, Temperature, Speed, and Position), By Application (Powertrain, Driver Assistance, Interior, and Safety), By Sales Channel (OEM and Aftermarket), and Regional Forecast, 2024-2032

A car sensor monitors multiple aspects of the car and sends information to the ECU (Electronic Control Unit). Sensors can overlook various aspects of a car, such as its temperature, engine, oil pressure, speed, emission level, etc. Automotive car sensors are one of the most essential components used in modern cars.

Modern passenger cars are equipped with multiple sensors which help the driver and car effectively manage fuel efficiency. These cars are equipped with sensors and intelligent modules that gather data made accessible for users to provide better insights into their riding patterns and history, thus elevating the overall riding experience of the users.

The demand for advanced sensor-based passenger cars has seen a significant rise in demand because it significantly improves the car's safety by using technology such as ABS and ADAS, among others. The government's incentives and stricter environmental norms continuously push consumers to migrate from traditional IC engine cars to EVs, resulting in greater adoption of sensors. 

The growing awareness of environmental concerns is a driving factor making consumers shift towards electric and hybrid vehicles. As the overall automobile industry is moving more towards electrification and automation, more is the use of advanced sensors to make the ride safer, more efficient, and sustainable at the same time. Hence, manufacturers are constantly motivated to develop and integrate advanced technology systems to cater to consumers' rising needs.

Impact of COVID-19 on the Passenger Car Sensor Market

As COVID-19 hit the world in early 2020, all the major economies had multiple setbacks due to lockdowns and supply chain bottlenecks. Asia Pacific plays a vital role in passenger car production; it had to significantly cut back on its production. FY-20 was highly dissatisfied when it came to passenger car sales throughout the globe because consumer sentiments and preferences took a massive shift. Consumers started refraining from buying luxury goods.

Although demand started picking up in FY-21, the shortage of semiconductor chips, an essential part of car manufacturing, controlling air conditioning systems, or ensuring proper working of multiple sensors involved, severely affected the automotive industry, resulting in lower car production. The closure of production plants and shortage of workforce due to stricter social distancing norms also affected the production of new vehicles. Another issue was regarding the procurement of raw materials. The supply chain tailback affected the companies to procure sufficient raw materials to meet their production needs, and at the same time, the elevated inflation has significantly raised the cost of production.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter's Five Forces Analysis.


• Technological Developments.


• Impact of COVID-19 on the Passenger Car Sensor Market.

Regional Analysis

The Asia Pacific region is predicted to lead the passenger car sensor market over the coming decade. Multiple factors that strengthen our notion of APAC being the leader include the rising spending tendency, strong production network, cost-effective manufacturing, and proliferation in technology adoption. This, in turn, will bolster the market growth in the future.

Key Players Covered

The report includes the profiles of key players such as Robert Bosch GmbH (Germany), Denso Corporation (Japan), STM Electronics (Switzerland), NXP Semiconductors (Netherlands), Infineon Technologies AG (Germany), CTS Corporation (US), Continental AG (Germany), Allegro Microsystems (US), texas instruments incorporated (US), Semsata technologies (US), and Elmos Semiconductor (Germany).

Segmentation

Key Industry Developments

• December 2022 – Bosch develops AI-powered interior monitoring systems for car safety. The AI-enabled system that uses several sensors will go into production.


• November 2022 – Digital Lidar company Ouster and Lidar sensors and solution developer Velodyne Lidar agreed to merge in an all-stock transaction.


• January 2020 – Robert Bosch GmbH became the first company to launch long-range lidar sensors, the first lidar system reliable for automotive use.