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Automotive Electronics Sensors Aftermarket Market Overview
The Automotive Electronics Sensor AfterMarket is projected to grow from USD 6711.2 million in 2021 to USD 12210 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.9% during the forecast period (2023–2032).
The global automotive electronics sensor aftermarket is expected to witness substantial growth during the forecast period. Asia-Pacific is expected to be a prominent region in the automotive electronics sensor aftermarket due to an increase in vehicle sales in this region as sensors are used in measuring tire pressure monitoring system for improving the engine control, vehicle safety, and fuel efficiency of vehicle. Along with this, the increasing government regulations regarding vehicle safety and emission and the focus to offer electronics sensors in advanced driver assistance system, and engine emission in Europe and North America are some of the factors that are expected to drive the automotive electronics sensor aftermarket during the forecast period.
In 2017, Europe held the second largest market share in the global automotive electronics sensor aftermarket. The region has a presence of major electronics sensor manufacturers, such as Valeo, Robert Bosch Gmbh, Continental AG, and Infineon Technologies AG, providing electronic sensors and modules, especially for premium vehicles, which will increase the demand for electronics sensor.Â
Segmentation
The global automotive electronics sensor aftermarket is segmented based on type, application, and vehicle type. On the basis of type, the global automotive electronics sensor aftermarket is segmented into oxygen sensor, LiDAR sensor, temperature sensor, position sensor, pressure sensor, speed sensor, and others. Oxygen sensor segment is expected to dominate the market, owing to the growing demand for improved fuel efficiency and reduced exhaust emissions in vehicle.
On the basis of application, the global automotive electronics sensor aftermarket is segmented into powertrain, body electronics, safety & control, telematics, and others. The powertrain segment is expected to hold the maximum market share, owing to functionality of various powertrain ECUs and enhance the control with predictions based on the real-time execution of complex mathematical models.
On the basis of vehicle type, the global automotive electronics sensor aftermarket is segmented into passenger car, light commercial vehicle, and heavy commercial vehicle. The passenger car segment is expected to hold the maximum market share, due to an increase in the use of sensors in different applications in passenger cars.
Regional Analysis
On the basis of region, the global automotive electronics sensor aftermarket is segmented into North America, Europe, Asia-Pacific (APAC), and the rest of the World.
Key Competitors
The key players of global automotive electronics sensor aftermarket are Standard Motor Products, Inc. (US) NGK Spark Plug CO., LTD (Japan), BorgWarner Inc. (US), Robert Bosch GmbH (Germany), Delphi Technologies (UK), Valeo (France), Continental AG (Germany), Denso Corporation (Japan), Hella GmbH & Co. KGaA (Germany) Dorman Products (US), and Sensata Technologies, Inc. (US)
Global Automotive Electronics Sensor Aftermarket, by Region, 2017 
Source: MRFR Analysis
Asia-Pacific is expected to offer promising growth opportunities for the automotive electronics sensor aftermarket with high automotive vehicle sale in countries, such as China, India, Japan, New Zealand, South Korea, Australia, and Indonesia, accounted for 42.58 million units in 2017. The automotive electric sensors are used in various systems of electric vehicle, such as powertrain & chassis, body electronics, vehicle safety, and security. Thus, the growth of electric vehicles is expected to drive the automotive electronics sensors market in this region.
China is one of the major vehicle’s sales country. According to the data from the China Association of Automobile Manufacturers, one of the largest electric vehicle producers and consumers in the world, with new-energy vehicle sale accounted for 770,000 units in 2017. Moreover, the government and related organizations are continuously investing in encouraging the electrification in vehicles. Furthermore, China with more than 300 million registered vehicles on road in 2017 is expected to offer promising opportunities for the automotive electronics sensor aftermarket during the forecast period.
Synopsis
The global automotive electronics sensor aftermarket has been segmented on the basis of type, application, and vehicle type. On the basis of type the global automotive electronics sensor aftermarket is segmented into oxygen sensor, LiDAR sensor, temperature sensor, position sensor, pressure sensor, speed sensor, and others. The oxygen sensor segment is expected to dominate the market due to the growing demand for improved fuel efficiency and reduced exhaust emissions in a vehicle.
Market Segmentation
- By Type – oxygen sensor, LiDAR sensor, temperature sensor , position sensor, pressure sensor, speed sensor, and others
- By Application – powertrain, body electronics, safety & control, telematics, and others
- By Vehicle Type – passenger car, light commercial vehicle, and heavy commercial vehicle
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (Type/Application/ Vehicle Type is driving market?
- What will be the growth rate by 2032?
- How are the key players in this market?
- What are the strategies adopted by key players?
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