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Electric Vehicle Sensors Market is Expected to Reach $353.5 million by 2025

Electric vehicles(EVs) are subject to various types of temperature variations and load changes. With technological advancements, modern EVs are being equipped with various devices, which are also powered by the battery pack present in the vehicle, for different functionalities and features. With the increase in EV battery capacity and developments in the charging technology, various temperature, current, and pressure changes have to be monitored to ensure that any increase or decrease outside their range of functioning is detected and solved while driving the vehicle. These conditions lead to the utilization of electric vehicle sensors for efficient monitoring of temperature, current, and pressure surges in the vehicles.

The research study focuses on putting forward a clear picture of the current consumption and future growth potential of different electric vehicle sensors. Numerous leading automotive tier-1 companies have partnered with sensor manufacturers to use their products in their EVs. As governments across the world are starting to implement plans toward increasing EV sales and phasing-out IC engine vehicles in their countries, the market for EV sensors is also bound to expand.

View BIS Report on Electric Vehicle Sensors Market

Asia-Pacific & Japan to Witness Fastest Growth in Global Electric Vehicles Sensors Market

The demand for EV sensors varies according to various geographical regions. Asia-Pacific & Japan is currently the largest region in the sensors market for electric vehicles. Government regulations, technological advancements, extensive investments for dedicated R&D facilities, and the presence of major EV manufacturing OEMs and Tier 1 companies are some of the major drivers that are propelling the growth of the market in the region.

Rising CO2 emissions in China and Japan have led to several concerns from the countries’ governments. Therefore, various government initiatives have been undertaken to promote the adoption and manufacturing of electric vehicles, as they may help in the reduction of vehicular emissions and act as a potential substitute for the petrol and diesel engine-based cars. Additionally, concerted efforts by both the governments and the manufacturing sector in promoting the sales of electric vehicles have led to the usage of advanced sensors inside an electric vehicle to provide a better safety aspect to the vehicle owner.

Competitive Landscape

To gain market share, major sensor manufacturers are making various kinds of strategic moves. Some key highlights with respect to major manufacturers of EV sensors are:

  •  Denso, Infineon Technologies AG, NXP Semiconductors, and Texas Instruments Incorporated are some of the leading players globally.
  •  LEM, Kohshin Electric Corporation, and Vishay Intertechnology, Inc. are some of the emerging companies.
  •  Launch of new product has been the most preferred strategy during the recent years.
  •  Apart from product launches, expanding business, and mergers and acquisitions are the other strategies being implemented.
  •  Most of the players have tie-ups with various EV tier-1 suppliers for e-motors and batteries.

This report covers the in-depth analysis of the sensors market for electric vehicles.

Key Questions Answered by This Report:

  •  What are the key drivers and challenges in the global electric vehicle sensors market?
  •  How does the supply chain function in the global electric vehicle sensors market?
  •  Which EV sensor type segment is estimated to witness the maximum demand growth in the global electric vehicle sensors market during 2019-2025?
  •  Which are the key application areas for which different sensor types may experience high demand during the forecasted period, 2020-2025?
  •  Who are the key suppliers of different EV sensors?
  •  What are the business and corporate strategies of sensors manufacturers involved in the global electric vehicle sensors market?
  •  What are the key offerings of the prominent manufacturers in the global market for sensors for electric vehicles?
  •  Which regions and countries are leading in terms of consumption of EV sensors, and which of them are expected to witness high demand growth from 2020 to 2025?
  •  What are the new application areas within an EV for related sensors?
  •  What are the key consumer attributes in various regions for EV sensors?
  •  How is the market landscape for sensors manufacturers expected to be formed for EVs?

Request a Sample - https://bisresearch.com/requestsample?id=960&type=download

Related Reports - Acoustic and Thermal Insulation Market for Electric Vehicles 

Electric Vehicle Fast-Charging System Market 

Fluids and Lubricants Market for Electric Vehicles

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.

With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials and Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics and Semiconductors, Robotics and UAV, and other emerging technologies.

 



on January 21 at 11:55

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