Product Code: 49221
The automotive temperature and humidity sensors market was valued at USD 5.35 billion in 2020 and is expected to reach a value of USD 9.86 billion by 2026 and grow at a CAGR of 10.77% over the forecast period (2021-2026). The automotive industry has grown significantly in the past five years, aided by the growth in unit volumes and the emergence of high innovation companies. The United States, China, and Europe continue to hold forte, while emerging nations, like India, are expected to record robust growth over the forecast period.
- Several automotive sensors are used for monitoring the temperature changes along with chassis solutions for roof and convertible switches, and seat position. Temperature and Humidity sensors are integrated into HVAC systems for preventing the fogging of windscreen and energy management. The sensors are also placed near the exhaust chamber to maintain urea quality, level, and temperature. Some of these sensors include urea pump pressure and exhaust gas temperature (EGTS) sensor.
- Every automotive is equipped fuel sensor which is used to check the temperature of the fuel constantly whether the fuel utilization is efficient or not. If the fuel of the engine is cold, then a longer period of time is taken to burn due to its high density. If the fuel is warm, then it will take a lesser period of time is taken burn. Here, the main problem is the varying inflow levels which could lead to the injury of certain parts of an automobile. This sensor will monitor the petroleum and ensures that injected at the right speed and temperature.
- Moreover, while the safety regulations have boosted the growth of sensors, environmental regulations have been a significant driver for temperature sensor applications. And, as per UBS, the global market for sensor semiconductors in autonomous vehicles is expected to reach a value of USD 30 billion by 2030. Such high growth in automotive sales might lead to potential growth for the automotive inertial systems during the forecast period.
- Further, as per the study conducted by the Semiconductor Industry Association, the global sale of semiconductor grew with USD 36.6 billion for the month of October 2019, an increase of 2.9% from September's total of USD 35.6 billion. The growth is mainly driven by the high demand from factory automation, and a significant increase in the adoption of MEMS sensors in the automotive industry.
- Despite that, the market conditions currently amidst the COVID-19 outbreak have led to a slowed adoption among the automotive sector due to significant factories getting closed in response to stopping the spread. As of March 2020, major manufacturers in North America and Europe have extended their plant shutdowns. For instance, Toyota, Honda, and Fiat Chrysler Automobiles, Ford, have decided to hold production. This is suggestive of a slowed requirement of sensors in automotive applications as well as a reduced innovation for the same.
Key Market Trends
Growth in the electric and autonomous driving vehicle is expected drive the market
- Automotive manufacturers all over the world are focusing on vehicle electrification. There is a need for cars to charge more quickly and have a more extended range on a single charge. This implies, electrical and electronics circuits within the vehicle should be able to handle extremely high power and manage losses effectively, and this creates a need for robust thermal-management solutions to ensure that safety-critical applications remain operational and are expected to impact automotive temperature sensors positively.
- According to EV-volumes.com, global plug-in vehicle deliveries 2019 reached 2264 400 units, 9 % higher than for 2018, which is a clear departure from the growth rates of the previous six years, which were between 46% and 69 %. The reasons are due to the developments in the two largest markets, China and the USA, where sales were stagnated in the 2nd half of 2019 and stayed significantly below the sales boom in the second half of 2018. Europe became the center in 2019 EV sales with 44 % growth, accelerating towards the end of the year.
- With the outbreak of COVID-19, the outlook for 2020 global EV sales becomes more difficult. The sales expect high growth in Europe throughout the year, high growth in the USA, and other markets in the second half, but the sales in China are expected to remain stagnant. The early EV sales data for January and February is very positive in Europe, encouraging in the USA, but dismal in China, where the total vehicle market was down 80 % in February.
- The increasing adoption of autonomous cars is also expected to positively impact the market as there specific sensors on an autonomous vehicle such as a Coolant temperature sensor or an Intake Air Temperature sensor. In May 2020, Volvo announced LIDAR-equipped cars, where the company mentioned that users able to drive themselves on highways with no human intervention and will start rolling off the production line in 2022.
Asia-Pacific is expected to hold major share
- The growth in the Asia-Pacific region owes to the growing automotive industry in countries such as China and India. The regulations regarding safety and emission controls in the region are expected to boost the market significantly during the forecast period. Rapid urbanization in the region has also resulted in increased pollution levels, thereby propelling the demand for fuel-efficient vehicles that are equipped with a temperature sensor in the engine and exhaust. Major companies in the market, such as Panasonic and TDK, are based out of Japan.
- The growing adoption of electric vehicles in the developing countries of Asia Pacific also favoring the market growth over the forecast period. For Instance, China is the primary producer and consumer of sensors and holds a prominent position in the global market. The total number of automobile industry sales in China reached 25 million units in 2019, based out of which 21 million units were passenger cars. In terms of electric vehicles, battery electric vehicles (BEV) were sold about three times more than plug-in hybrid electric vehicles (PHEV) in 2019, with BEV sales reaching almost one million units.
- With the outbreak of COVID-19, the closure trends in India led the SIAM to estimate that nearly over INR 2,300 crore per day as revenue loss for Indian automakers and component manufacturers amidst the pandemic. Major players like Maruti Suzuki India, Hyundai, Honda, Mahindra, Toyota Kirloskar Motor, Tata Motors, Kia Motors, and MG Motor India have put their plants on temporary shutdown. The market is very likely to suffer from potential component supply chain disruption, leading to reduced sales and production from a sensor point of view.
The automotive temperature and humidity sensors market is moderately competitive and has gained a competitive edge in the past decade. However, with increased innovations and sustainable products, to maintain their position in the global market, many of the companies are increasing their market presence by securing new contracts by tapping new markets.
- June 2019 - TDK Corporation launched its complete sensor product range at the Sensor+Test 2019. The product ranged from magnetic sensors, motion, sound sensor solutions, temperature, and pressure sensors that covers automotive, industrial, aeronautics, security, and medical markets. Micronas Magnetic Sensors and Embedded Motor Controllers, for instance, were first Micronas TMR-based sensor family CUR 423x developed for the measurement of current in the Automotive industry.
- September 2019 - At the IAA 2019, the Bosch showcased its latest solutions for personalized, automated, connected, and electrified mobility which included intelligent thermal management solution that is equipped with sensors for precise distribution of heat and cold to the efficiency of the battery and even to ensure that all components are perfectly working within their optimum temperature range.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview (Covers the Impact of Covid-19)
- 4.2 Market Drivers
- 4.2.1 Increased Number of Electronic Components in Automotive
- 4.2.2 Growth in Electric and Autonomous Driving Vehicles
- 4.3 Market Restraints
- 4.3.1 Cost Pressure on Automotive OEM's
- 4.4 Industry Attractiveness - Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Industry Value Chain Analysis
5 MARKET SEGMENTATION
- 5.1 Type
- 5.1.1 Conventional (Temperature, Humidity)
- 5.1.2 Digital (Temperature, Humidity)
- 5.2 Vehicle Type
- 5.2.1 Passenger Cars
- 5.2.2 Commercial Vehicles
- 5.3 Application Type
- 5.3.1 Power Train
- 5.3.2 Body Electronics
- 5.3.3 Alternative Fuel Vehicles
- 5.3.4 Other Application Types
- 5.4 Geography
- 5.4.1 North America
- 18.104.22.168 United States
- 22.214.171.124 Canada
- 5.4.2 Europe
- 126.96.36.199 Germany
- 188.8.131.52 United Kingdom
- 184.108.40.206 France
- 220.127.116.11 Spain
- 18.104.22.168 Rest of Europe
- 5.4.3 Asia Pacific
- 22.214.171.124 China
- 126.96.36.199 India
- 188.8.131.52 Japan
- 184.108.40.206 Rest of Asia Pacific
- 5.4.4 Latin America
- 220.127.116.11 Brazil
- 18.104.22.168 Argentina
- 22.214.171.124 Rest of Latin America
- 5.4.5 Middle East & Africa
- 126.96.36.199 Saudi Arabia
- 188.8.131.52 United Arab Emirates
- 184.108.40.206 South Africa
- 220.127.116.11 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Delphi Automotive LLP
- 6.1.2 TDK Corporation
- 6.1.3 TE Connectivity Ltd.
- 6.1.4 Sensata Technologies Inc.
- 6.1.5 Robert Bosch GmbH
- 6.1.6 NXP Semiconductor N.V.
- 6.1.7 Continental AG
- 6.1.8 Amphenol Advanced Sensors Germany GmbH
- 6.1.9 Panasonic Corporation
- 6.1.10 QTI Sensing Solutions
- 6.1.11 Murata Corporation
- 6.1.12 Analog Devices Inc.
7 INVESTMENT ANALYSIS
8 FUTURE OPPORTUNITIES