Motor Vehicle Sensor Market Continues To Grow Owing To the Safety Regulations Implemented By Regional Governmental Bodies and the Increasing Demand for Pressure Sensors

 

Motor vehicle sensors are very important equipment in an automobile to control the electronic processes. They are mainly used to survey many essential vehicle parameters such as emission levels, fuel consumption, airbag deployments, etc. The automotive industry uses various types of sensors such as mass airflow sensors, temperature sensors, oxygen sensors, and coolant sensors. These sensors are mainly used to ensure the safety of the vehicle by detecting, scrutinizing, and controlling the external as well as the internal performance of the automobile.

Market Dynamics

The two driving factors of the market are- rising demand for pressure sensors and increasing growth of autonomous vehicles. For instance, in March 2019, Tesla launched the Tesla Model Y, which is an electric compact crossover utility vehicle. To ensure the safety of the passengers all the automotive manufacturing companies are opting to install airbag pressure sensors, which are assembled in the side doors of the car and during an emergency can communicate with the central airbag unit by delivering digital crash signals.

Due to the increase in safety precautions and regulations the demand and awareness of autonomous, vehicles are increasing, which is resulting in the motor vehicle sensors growth. For instance, in developed regions such as Europe, it is mandatory that all the vehicles have functions such as lane-keep assist and cruise control.

High manufacturing cost and production in small quantities are one of the restraining factors of this market. Moreover, in less ideal environmental conditions such as storms and blizzards, it is difficult to track objects.

The global motor vehicle sensor market focuses on six regions, such as North America, Asia Pacific, South America, Europe, the Middle East, and Africa. Asia Pacific is estimated to witness a significant growth in the global motor vehicle sensor market due to the low production cost in the automotive industry and an increase in the expendable income of the middle class.

Regulatory bodies have implemented various emission norms and safety measures, owing to frequent road accidents and casualties in the last few years. For instance, in India, the Ministry of Road Transport has ordered the mandatory implementation of reverse parking system (RPS), alert systems, airbags, and seat belt reminders, etc., for all the cars manufactured after July 1, 2019.

Factors such as attention detection, monitoring the tire pressure, alert systems, and detecting vulnerable road users are going to be mandatory for the vans, buses, and trucks in Europe from 2022. These factors are expected to increase the demand for motor vehicle sensors in Europe.

Increasing demand for electric vehicles is expected to fuel the growth of the global motor vehicle sensor market in North America.

 

Competitive Analysis

Key players operating in the global motor vehicle sensor market include Robert Bosh GmbH of Germany, STMicroelectronics of Switzerland, Infineon Technologies of Germany, Continental AG of Germany, NXP Semiconductors of Netherlands, Denso Corporation of Japan, Texas Instruments Incorporated of the U.S., CTS Corporation of the U.S., Allegro Microsystems of the U.S., and Elmos Semiconductor of Germany.

In April 2020, Infineon Technolgies took over Cypress Semiconductor to expand its product portfolio. Likewise, in June 2002, Vitesco Technologies signed a development contract with ROHM Semiconductor to produce silicon carbide power devices.