What are Automotive Sensors?
Automobile sensors are intelligent sensors that can regulate and process oil pressure, temperature, emission level, coolant levels, etc. There are different kinds of sensors used in automobiles, but understanding the working of these sensors is essential. Modern automobile methods can be done using different types of sensors. These are arranged into the car engine to identify & solve possible issues like repairs, servicing, etc. The sensors used in automobiles will inspect the function of the vehicle. In current automobiles, sensors are operated for detecting and responding to changes in the conditions inside & outside of the car. So that travelers in the vehicle can drive efficiently and safely. Using these sensors' data improves comfort, efficiency, and safety.
Moreover, the government declaration on emission and safety standards are the main factors for India's automotive sensors market growth. Automotive sensors are the core elements of the perception layer and are found throughout the vehicle.
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Market Size of India Automotive Sensors Market- India automotive sensors market size was valued at USD 1,570.11 million in 2021, and it is estimated to reach USD 3,940.39 million in 2030 with a growth of 15% CAGR during the forecast period 2022-2030.
Why Automotive Sensors Market is Growing
Significant growth drivers for India automotive sensors market include a growing focus on passenger, pedestrian and vehicular protection in the country, increased disposable income in India, the entrance of foreign auto manufacturers, growing adoption of autonomous vehicles and increasing government restrictions on emission control. The government has instructed a few features, such as Reverse Parking Assist, likely to help market growth. Also, the rising use of ADAS techniques in passenger and commercial vehicles is anticipated to propel the market.
Growth Drivers in Automotive Sensors Market
Growing Demand for Pressure Sensors to Boost Growth
Modern vehicle control systems use side airbag pressure sensors to satisfy passenger car safety needs. The pressure sensor is combined into the vehicle's side doors and sends digital crash signals to the central airbag unit. Similarly, the air pressure sensor enhances engine efficiency by effectively managing spark advancements in gasoline and diesel engines. Therefore, the market is expected to grow due to the rising use of pressure sensors in the engine and the vehicle's safety system.
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Increasing Growth of Autonomous Vehicles to Fuel Demand for Sensors
The autonomous capabilities of commercially available vehicles are expected to develop rapidly over the next several years due to increasingly strict regulations and safety tests (in particular, emergency brake assist) and growing awareness regarding vehicle safety.
Opportunities in Automotive Sensors Market
Increase in the Adoption of Electric Vehicles
The appearance of electric vehicles would drastically alter the quantity and distribution of pressure and magnetic sensors within the vehicle, impacting the automotive sensor industry, for Example-The Indian government has passed legislation requiring the installation of certain mandatory automotive sensors, which will promote increased demand and usage for automotive sensors across all vehicle segments in the Indian automotive market. The rising population and economic levels result in greater demand for automobiles. Similarly, the growing consumer preference for comfort, safety, and classiness will create more opportunities in India automotive sensor market.
Restraints in Automotive Sensors Market
Increased Price and Limitations Under Bad Weather Circumstances to Restrain Growth
Due to the small quantities produced, decreasing the cost of sensors used in the Advanced Driver Assistance System (ADAS) to target levels has been unattainable. Similarly, most current sensors have a limited signal bandwidth and measuring range, making distinguishing between system noise and signals, such as road obstacles, more challenging. Also, tracking moving things is even more difficult in less-than-ideal environments like rain. These factors are expected to hamper the market’s growth.
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Pre Covid-19 Impact on India Automotive Sensors Market
Before the covid-19 period, the most notable factors that drove the automotive sensor market growth included an upsurge in the use of pressure sensors in the automotive industry, the surge in need for automotive sensors in hybrid and Automated cars, and the advancement in the use of custom-designed electronic devices. Also, the growing adoption of ADAS and autonomous driving systems is the major reason for the elevated demand for automotive sensors.
Covid-19 Impact on India Automotive Sensors Market
During the Covid-19 period, the pandemic has severely impacted many automotive sensors companies. Many automotive sensor manufacturers have undergone significant resource blockages in the global supply and logistics chains in the year that had a perceptibly negative effect on their businesses. Most of the region's supply lines were disrupted, small and medium-sized businesses were financially drained, and vehicle sales were down. The need for automotive sensor simulators, automotive sensor testers and automotive sensor connectors has also decreased due to the covid-19 impact.
Post Covid-19 Impact on India Automotive Sensors Market
After the covid-19 period, Due to technological improvements in the automobile industry and growth in the automotive sector are anticipated to offer lucrative opportunities for the market after the pandemic. Growing efforts to develop modern safety sensors to reduce such incidence will force the demand for automotive sensors over the forecast period.
Automotive Sensors Market is Segmented into:
By Type Segmental Analysis
Based on type segmental analysis, the India Automotive Sensor Market is segmented into Temperature, Pressure, Speed, Level/Position, Magnetic, Gas and Inertial. The position sensors segment carries the largest share of the India automotive sensors market, and a similar trend is predicted to be followed during the forecast period. The expansion of position sensors can be attributed to the rising market for autonomous cars and autopilot applications. Developed technologies are increasingly being embraced in passenger and commercial cars because of the improving standard of living and increasing consumer choice for better safety standards and comfort.
By Application Segmental Analysis
Based on application segmental analysis, the India Automotive Sensor Market is segmented into Powertrain, Chassis, Exhaust System, Safety & Control System, Vehicle Security Systems, Telematics and others. Safety and control systems are anticipated to register the highest CAGR from 2022 to 2030. the India automotive sensors market. The market's safety and control systems growth can be attributed to the rising usage of position, speed, gas, pressure, and temperature sensors. These sensors are needed for the efficient performance of vehicles and safe drives.
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By Vehicle Type Segmental Analysis
Based on vehicle type segmental analysis, the India Automotive Sensor Market is segmented into Passenger Cars, HCV and LCV. The passenger car will dominate the market during the forecast period. The requirement for sensors in passenger cars has expanded due to optimizing fuel consumption and the growing need for personal mobility solutions.
By Sales Channel Segmental Analysis
Based on segmental analysis, the India Automotive Sensor Market is segmented into OEM (Original Equipment Manufacturer and Aftermarket. The OEM segment is anticipated to show the highest share in the automotive sensors market during the forecast period due to the rising need for sensors in modern vehicles. Sensors are vital in automotive systems for vehicles' safe, comfortable, and economical operation. The severe conditions in automotive applications, such as heat, cold, or constant vibrations, make high demand for sensors that are highly reliable and resilient.
Competitors Analysis in Automotive Sensors Market
The companies include Denso Corporation, Infineon Technologies, Bosch Texas Instruments, Sensata Technologies, CTS Corporation, Maxim Integrated, Analog Devices, GE Continental Automotive, HITACHI Automotive Systems and other prominent players in India Automotive Sensors Market.
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Recent Developments in Automotive Sensors Market
· In September 2018- the Union Minister for Road and Highway Transport reported that the government is working toward raising an order to bring ADAS into all new vehicles by 2022.
· In 2017- India recorded 467,044 road accidents and reached 464,910. , it is anticipated that a couple more auto brands will start delivering ADAS on their vehicles, specifically those of parking assistance, blind spot detection, lane departure warning, etc., which would help reduce the number of accidents. The induction of these systems is poised to help push the automotive sensors market in the country.
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About this Report
This India automotive sensors market report provides growth drivers, latest opportunities, Segment revenue, covid-19 impact, restraints and major players. In addition, this report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the market, along with changing dynamics and trends.
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