Electric Vehicle (EV) High-Speed Position Sensors Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The Electric Vehicle (EV) High-Speed Position Sensors Market size was estimated at USD 13.3 billion in 2023 and is projected to reach USD 34.9 billion in 2030 at a CAGR of 14.8% during the forecast period 2023-2030.

Electric vehicle sensors are devices that are used to detect, measure, and transmit information related to the performance of electric vehicles.These sensors are designed to sense physical inputs such as light, heat, motion, moisture, pressure, or any other entity that can affect the performance of the vehicle.The sensors respond to these inputs by producing an output on a display or transmitting the information in electronic form for further processing. The sensors are an essential component of electric vehicles as they help in analyzing the performance of the vehicle and provide valuable information to the driver and the manufacturer. The sensors use integrated circuit (IC) fabrication technology made on silicon wafers to monitor and control chemical, physical, and process changes of an automobile. The IC fabrication technology is used to create tiny sensors that can detect even the slightest changes in the environment and provide accurate information to the driver and the manufacturer. The sensors are used in various parts of the electric vehicle, including the battery, motor, and charging system, to monitor and control the performance of these components.

The demand for high speed intelligent sensors in EV vehicles is increasing as they provide a higher level of safety and security to drivers. These sensors can detect and measure various parameters such as temperature, motion, pressure, gas, and speed, which help in analyzing the performance of vehicles. Manufacturers of electronic devices are incorporating sensors in their devices to add additional features and stay ahead of their competitors in the highly competitive market. This trend is also visible in the automotive industry, where manufacturers are using sensors to enhance the performance and functionality of their vehicles. The high competition in the electronic market and the steady upgrade in electronic devices are expected to drive the growth of the electric vehicle sensor industry in the future. As more and more electronic devices are being used in vehicles, the demand for sensors is also increasing.

The COVID-19 pandemic had a negative impact on the electric vehicle manufacturing supply chain during the first half of 2020. This was due to the associated bottlenecks in the supply chain caused by the pandemic. As the lockdown measures were eased, the demand for electric vehicles started to increase. This was due to various factors such as government incentives, environmental concerns, and technological advancements. In 2020, electric vehicle sales witnessed a significant increase of around 33%. This growth continued in 2021, indicating a sustained demand for electric vehicles.

Delvens Industry Expert's Standpoint

The highlighted text refers to the potential challenges and opportunities for the electric vehicle sensor market. One of the main challenges for the market is the high development cost of electric vehicle sensors. This cost includes research and development, testing, and manufacturing expenses, which can be significant for new and innovative sensor technologies. These costs can make it difficult for manufacturers to produce and sell electric vehicle sensors at competitive prices, which may limit the growth of the market. despite this challenge, the electric vehicle sensor market is expected to grow due to technological advancements in the automobile industry and the overall growth of the automotive sector. As more and more vehicles become electric, the demand for electric vehicle sensors is likely to increase. Additionally, advancements in sensor technology, such as the development of more accurate and reliable sensors, can help to drive market growth. The growth of the automotive sector is also expected to create opportunities for the electric vehicle sensor market. As more vehicles are produced and sold, the demand for sensors that can improve vehicle performance, safety, and efficiency is likely to increase. This can create opportunities for manufacturers to develop and sell new and innovative sensor technologies that can meet the needs of the market. while the high development cost of electric vehicle sensors may present a challenge for the market, the growth of the automotive sector and technological advancements in the industry are expected to create opportunities for the electric vehicle sensor market to grow and thrive in the future.

Market Portfolio

Key Findings

• On the basis of product, The electric vehicle sensor market is divided into different product types, including pressure sensors, temperature sensors, motion sensors, speed sensors, and gas sensors advanced driver assistance systems (ADAS), and manifold absolute pressure sensors (MAPS).TPMS is a safety feature that monitors the air pressure in tires and alerts the driver if the pressure is too low, which can help prevent accidents caused by tire blowouts. ADAS is a technology that assists drivers in driving and parking, and it includes features such as lane departure warning, adaptive cruise control, and automatic emergency braking. There is a surge in demand for electric vehicle sensors in hybrid and electric cars, as they are widely used in navigation systems (GPS) and advanced driver assistance systems (ADAS). GPS is a navigation system that uses satellites to determine the location of a vehicle, which can help drivers navigate to their destination.

• On the basis of propulsion, The electric vehicle sensor market is divided into three categories based on propulsion: hybrid electric vehicles (HEVs), plug-in hybrid electric vehicles (PHEVs), and battery electric vehicles (BEVs). Smart sensors are used in accelerometers, which are devices that measure acceleration and deceleration of a vehicle. These sensors provide benefits such as safety and fuel efficiency by processing real-time data and notifying engine-related problems. Smart sensors also facilitate communication between engine, suspension, braking, and other controls of vehicles, which helps in improving the overall performance of the vehicle. Vehicle safety issues have led vehicle manufacturers to adopt smart sensors at a high rate, such as in airbags, for safety. These airbags are more effective compared to conventional airbags in sensing accidents, thus minimizing them. The use of smart sensors in electric vehicles is expected to increase in the future as the demand for electric vehicles continues to rise.

• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. The Asia-Pacific region is expected to be a significant market for the electric vehicle sensor industry, with China leading the way. This is due to the region's well-established electronics industry and the adoption of innovative technologies, which have given organizations in the region a competitive edge in the market. The Chinese government has been actively promoting the adoption of electric vehicles as part of its efforts to reduce pollution and dependence on fossil fuels, which has further fueled the growth of the electric vehicle sensor market in the country.

Regional Analysis

North America to Dominate the Market

• Asia-Pacific Region Is Expected To Hold The High Market Share Asia-Pacific is a region that includes countries such as China, Japan, India, and Australia, among others. HEVs refer to hybrid electric vehicles, which are cars that use both an electric motor and a gasoline engine to power the vehicle.
   
• The growing adoption of HEVs in Asia-Pacific means that more people are choosing to buy these types of cars, which is a positive factor for the electric vehicle sensor market.

Competitive Landscape

• Denso
• Infineon Technologies AG
• NXP Semiconductors N.V.
• Texas Instruments Incorporated
• LEM
• Kohshin Electric Corporation
• Vishay Intertechnology Inc.
• Allegro MicroSystems Inc.
• Amphenol Advanced Sensors
• ams-OSRAM AG
• Analog Devices Inc.
• Melexis
• Sensata Technologies Inc.
• STMicroelectronics N.V.
• Renesas Electronics Corporation
• TE Connectivity
• Continental AG
• Robert Bosch GmbH
• ZF Friedrichshafen AG

Recent Developments

• In September 2022, A new quantum sensor using nitrogen-vacancy centers in diamonds can accurately measure the energy stored in electric vehicle batteries, potentially improving their range and energy efficiency.
   
• In March 2022, Nissan conducts extensive crash tests on its vehicles, including assessing the effects of collisions on human safety and simulating accidents involving pedestrians.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Electric vehicle (EV) High-speed position sensors Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope