The global automotive temperature and humidity sensors market size is anticipated to expand at a significant CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the increasing demand for convenience, comfort, safety, efficiency, and environmental protection.
Temperature and humidity sensors are the most commonly used environmental sensors. Temperature sensors are used to measure temperature, it can be air temperature, liquid, or solid matter temperature. Hygrometers are used for measuring the humidity sensors. Humidity sensors are commonly used in the meteorology, food processing, agriculture, microelectronics, pharmaceuticals, medical, automobiles, structural health monitoring, and HVAC & manufacturing companies.
During COVID-19 pandemic, various travel restrictions on the governments and labour shortage in the automotive affected the supply chain, disrupting the market. Nevertheless, the gradual relaxation in restrictions is expected to help the market reach pre-COVID level soon.
Market Trends, Drivers, Restraints and Opportunities
- Rising HVAC applications is projected to drive the market growth during the forecast period.
- Increasing demand for luxury passenger cars in developed countries are expected to boost the market growth in the coming years.
- Rapid growth of the automotive industry can positively influence the market growth.
- The third wave of COVID-19 pandemic can restrain the market growth.
- Ongoing advancement in the development of cost-effective sensors can create lucrative opportunities during the forecast period.
Scope of the Report
The report on the global automotive temperature and humidity sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Automotive temperature and humidity sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Conventional [Temperature, and Humidity] and Digital [Temperature and Humidity]), Vehicle Types (Passenger Cars and Commercial Vehicles), and Applications (Power Train, Body Electronics, Alternative Fuel Vehicles, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
TDK Corporation; TE Connectivity Ltd.; Robert Bosch Gmbh; Sensata Technologies; Inc.; and NXP semiconductor N.V.
Automotive Temperature and Humidity Sensors Market Segment Insights
Digital segment to hold a significant market share
Based on types, the market is divided into conventional and digital. Both the segments are further segmented into temperature and humidity. The conventional segment is anticipated to hold a key share of the market in the coming years due to rising demand for high reliable solutions and long term stability even under harsh operating conditions. On the other hand, the digital segment is anticipated to expand at a rapid pace during the forecast period due to increasing adoption of digital solutions in the automotive industry.
Commercial vehicles segment is expected to grow at a rapid pace
On the basis of vehicle types, the market is segregated into passenger cars and commercial vehicles. The passenger cars segment is expected to represent a key share of the market in the coming years owing to comfort and high fuel efficiency. However, the commercial vehicles segment is anticipated to expand at a rapid pace during the forecast period owing to rapid growth of the e-commerce industry.
Alternative fuel vehicles segment is expected to grow at a rapid pace
In terms of applications, the market is divided into power train, body electronics, alternative fuel vehicles, and others. The body electronics segment is expected to represent a key share of the market in the projected timeline. On the other hand, alternative fuel vehicles segment is anticipated to expand at a rapid pace during the forecast period due to increased energy security and sustainability.
North America is estimated to account a major market share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period. Wide expansion in term of R&D investment for the development of automotive temperature and humidity sensors acts as a major driver of the market growth in the region. However, the market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. The growth of the market in region is attributed to increasing demand for automotive temperature and humidity sensors in countries such as India and China.
The global automotive temperature and humidity sensors market has been segmented on the basis of
- Passenger Cars
- Commercial Vehicles
- Power Train
- Body Electronics
- Alternative Fuel Vehicle
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- TDK Corporation
- TE Connectivity Ltd.
- Robert Bosch Gmbh
- Sensata Technologies, Inc.
- NXP semiconductor N.V.
Key players competing in the automotive temperature and humidity sensors market includes TDK Corporation; TE Connectivity Ltd.; Robert Bosch GmbH; Sensata Technologies, Inc.; and NXP semiconductor N.V.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
In June 2019, TDK Corporation launched its complete sensor product range. The products includes magnetic sensors, motion, sound sensor solutions, temperature, and pressure sensors that covered automotive, industrial, aeronautics, security, and medical markets.