Automotive Sensor Market 2030: Innovations in Emission Control Technologies

Automotive Sensor Market Summary

The global automotive sensor market was valued at USD 39.5 billion in 2023 and is projected to grow to USD 85.1 billion by 2030, expanding at a CAGR of 11.9% from 2024 to 2030. This significant growth is primarily driven by the rising adoption of advanced driver-assistance systems (ADAS) and the ongoing development of autonomous vehicles (AVs).

ADAS technologies, including blind-spot monitoring, lane departure warning, and automatic emergency braking, depend heavily on a variety of sensors such as LiDAR, radar, temperature sensors, and positioning sensors. Autonomous vehicles further amplify sensor demand by requiring an even broader array, including video cameras, ultrasonic sensors, radar, and LiDAR, to enable safe and reliable navigation.

Technological advancements in sensor design and functionality are making these components increasingly efficient and cost-effective, enabling wider deployment across multiple vehicle systems. Sensors are now being integrated for diverse uses such as fleet management, condition monitoring, and vehicle tracking. The growing electric vehicle (EV) market also contributes to rising demand, with EVs requiring specialized sensors for functions like collision avoidance and parking assistance.

Additionally, global governments are enforcing stricter safety regulations on both commercial and passenger vehicles, mandating features like automatic emergency braking, lane departure alerts, and blind-spot monitoring, all of which rely on advanced sensors. These policy shifts are expected to significantly increase the need for sensor-based safety systems, especially in heavy commercial vehicles (HCVs).

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Key Market Trends & Insights

• Asia Pacific led the global automotive sensor market in 2023, holding a 43.3% revenue share.
• China emerged as the top market within the Asia Pacific region.
• By sensor type, the temperature sensor segment dominated the market, accounting for 35.0% of the share in 2023.
• In terms of vehicle type, passenger cars held the largest share at 53.4% in 2023.
• For application, the engine & drivetrain segment led with a 34.4% revenue share in 2023.

Market Size & Forecast

• 2023 Market Size: USD 39.5 Billion
• 2030 Projected Market Size: USD 85.1 Billion
• CAGR (2024–2030): 11.9%
• Largest Market in 2023: Asia Pacific

Key Automotive Sensor Company Insights

Several prominent companies are shaping the automotive sensor industry through innovation and strategic moves such as mergers, acquisitions, and technology adoption focused on ADAS and AVs.

• Power Grid Corporation of India Limited (POWERGRID), a major Indian entity with substantial government ownership, operates as a global transmission leader in emerging power markets.
• MYR Group Inc., based in the U.S., offers electrical construction services through 12 subsidiaries and caters to commercial and industrial sectors.
• Other influential companies include KEPCO, Hitachi Energy Ltd., Siemens, General Electric Company, Cisco Systems Inc., Schneider Electric SE, ABB, and Eaton.

Key Automotive Sensor Companies

The following major companies hold substantial influence in the global automotive sensor market:

• Power Grid Corporation of India Limited (POWERGRID)
• MYR Group Inc.
• KEPCO
• Hitachi Energy Ltd.
• Siemens
• General Electric Company
• Cisco Systems Inc.
• Schneider Electric SE
• ABB
• Eaton

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Conclusion

The global automotive sensor market is poised for robust growth, increasing from USD 39.5 billion in 2023 to USD 85.1 billion by 2030, at a CAGR of 11.9%. This expansion is driven by the surging demand for ADAS technologies, the progression toward autonomous mobility, and the rapid rise of electric vehicles. With governments enforcing stricter vehicle safety standards, the integration of sensor technologies is becoming essential. Leading companies are responding by investing in innovation and strategic partnerships, ensuring that automotive sensors remain at the core of future vehicle advancements and road safety initiatives.