LONDON --- The global automotive temperature sensors market is expected to grow at a CAGR of close to 6% during the forecast period, according to Technavio’s latest report. In this report, Technavio covers the market outlook and growth prospects of the global automotive temperature sensors market for 2017-2021. The research report categorizes the market into passenger cars and commercial vehicles by vehicle type.
The global automotive temperature sensors market size is expected to grow to USD 5.27 billion by 2021. The increasing demand for safe and better automotive vehicles that are compliant with environmental regulations is driving the demand for temperature sensors.
Technavio’s research study segments the global automotive temperature sensors market into the following regions:
APAC: largest automotive temperature sensors market segment
The promising economic growth potential in APAC is attracting global automobile manufacturers to the region. These players are investing in technologically advanced mass-production systems, thereby driving the demand for automotive temperature sensors.
Americas: increased concerns over vehicle safety driving market segment
The US and Canada are the major contributors to the temperature sensors market in the Americas. The demand for temperature sensors in these countries is driven by government regulations, which are playing a crucial role in the wider application of temperature sensors in the region. Strict emission norms and increasing concerns regarding road safety, passenger safety, and vehicle security are expected to boost the market growth in the Americas. Additionally, the rising adoption of electric vehicles in the Americas provides notable prospects for the automotive temperature sensors market.
EMEA: market segment driven by strict emission norms
The adoption of emission sensors in engine exhaust management and exhaust after-treatments is resulting in an added incentive to develop technologically-advanced automotive emission sensors that help the vehicles to meet emission standards. Also, continuous monitoring of emissions in the Middle East and Africa is expected to fuel the automotive temperature sensors market in the region.
The top automotive temperature sensor manufacturers highlighted in the report are:
• Sensata Technologies
• NXP Semiconductors
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