Latest Study on Electric Vehicle Sensors Market – Analysis of Industry Current Growth Rate, Size, Share and Projection for the Next 7 Years

aamirsaleem123 February 29, 2024

12 4 minutes read

Market Overview: Electric Vehicle Sensors Market

MarkNtel Advisors, leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on Electric Vehicle Sensors Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.

Electric Vehicle Sensors Market Insights 2021-26

The Electric Vehicle Sensors Market is estimated to grow at a CAGR of around 12% during the forecast period 2021-26.

Driving Innovation: Exploring the Electric Vehicle Sensors Market and its Key Driver

Market Driver – Burgeoning Demand for Electric Vehicle

The demand for an electric vehicle is significantly increasing as it helps reduce fuel costs, mitigates carbon emissions, and escalates energy security. With the rising use of alternative fuel cars, the demand for electric vehicle sensors also increases to ensure the safety and reliability of the vehicle. Further, the introduction of advanced technologies & systems and the rising adoption of these technologies in the automotive industry have expanded the vehicle’s electrification levels, thereby fueling the growth of the Global Electric Vehicle Sensors Market.

Top Players in the Electric Vehicle Sensors Market:

-Texas Instruments Incorporated

-LEM

-Kohshin Electric Corporation

-Vishay Intertechnology, Inc

-Allegro MicroSystems

-Amphenol Advanced Sensors

-Ams AG

-Analog Devices

-Melexis

-Sensata Technologies

-STMicroelectronics

Read Full Report -  https://www.marknteladvisors.com/research-library/global-electric-vehicle-sensors-market.html

Segmentation Analysis of Electric Vehicle Sensors Market

Electric Vehicle Sensors Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2021-26, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.

By Type

-Temperature Sensors

-Current/Voltage Sensors

-Engine-Based Sensors

-Proximity Sensors

-Pressure Sensors

-Position Sensors

-Inertial Sensors

-Speed Sensors

-Others (Cabin Sensors, etc.)

Based on the Type, the market bifurcates into Temperature, Current/Voltage, Engine-Based, Proximity, Pressure, Position, Inertial, and Speed Sensors. Among these segments, Temperature Sensors acquired the largest share in the Global Electric Vehicle Sensors Market in the previous few years due to the rising need for thermal-management solutions to ensure the continuous operation of critical parts and safety of a vehicleEach part of an electric vehicle requires temperature monitoring. Continuous temperature monitoring and accurate information regarding variation in temperature recorded at different times & locations are beneficial for the vehicle processor to temperature-compensate the system. It leads the vehicle to optimize its performance and maximize reliability. Therefore, the demand for the temperature sensor segment is substantially high cites, MarkNtel Advisors in their research report, “Global Electric Vehicle Sensors Market Analysis, 2021.”

By Application

-Battery Electric Vehicle (BEV)

-Hybrid-Electric Vehicle (HEV)

-Plug-In Hybrid Electric Vehicle (PHEV)

By Vehicle Type

-Two-Wheeler Vehicles

-Passenger Cars

-Commercial Vehicles

Based on the Vehicle Type, the market segments into Two Wheeler Vehicles, Passenger Cars, and Commercial Vehicles. Among these segments, Passenger cars captured a significant market share in the Global Electric Vehicle Sensors Market in the previous few years. Sensors enhance the safety of the vehicle and improve its overall performance.

Further, the surging demand for safe vehicles has directly propelled the demand for sensors in electric vehicles. Besides, the mounting purchasing power of consumers has also fueled the requirement for electric vehicles with advanced features and enhanced safety, thereby propelling the growth of passenger cars in the market.

A Comprehensive Geographical Analysis:

By Region

-North America

-South America

-Europe

-Middle East & Africa

-Asia-Pacific

Geographically, North America held the largest share in the Global Electric Vehicle Sensors Market in the past few years owing to the rapidly growing electronics market and surge in sales of electric vehicles in the region. The United States is one of the largest hubs for automotive manufacturing in the world. Moreover, regional economic growth also positively influences the sales of electric vehicles. Further, to meet the different needs of next-generation consumers, the demand for electric vehicles is tremendously increasing in the region, which, in turn, fuels the overall market growth.

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About Us

MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.