The Market is driven by the growing demand for fuel-efficient vehicles, as well as the growing demand for sensors in automotive hybrid powertrains. Furthermore, several governments across the world have implemented rules governing car emission standards to spur advancements in transmission and drivetrain technology and improve vehicle performance. Thus, various car manufacturers across the world are attempting to expand the penetration of sensors in their vehicles to improve vehicle safety and performance, which is expected to drive the growth of the market during the forecast period.
Increased demand for electric cars, which are integrated with various sensors, including voltage sensors that improve drivetrain efficiency, is expected to drive the worldwide Automotive Powertrain Sensor market. Electric vehicle deployment has increased across the world as a result of government initiatives to promote a green and clean environment, which promotes the growth of electric cars. In addition, factors such as rising environmental consciousness, unpredictable fuel prices, and a slew of government laws aimed at reducing hazardous gas emissions are expected to boost the demand for electric vehicles and thereby the automotive powertrain sensors market.
Despite a huge decline in the sales of products during the initial phase of pandemic spread and lockdown restrictions all over the region, the market is observed to pick up a quick pace for registering a CAGR of almost more than 2.9 %, during the tenure of 2021 – 2027.
The report published by Maximize encompasses the market dynamics, which could affect the market growth of Automotive Steering Systemin the region, the Value – Chain analysis, and the PORTER’s analysis for the Automotive Powertrain Sensor Market at a global level.
The study is consolidated based on two major segments and further into sub-segments, By Sensors Type (Temperature, Position, Exhaust, Pressure, Speed, Knock), By Powertrain Subsystems (Engine Management, Transmission Management, Power Steering), By Vehicle Type (ICE, EV) to forecast the market size by value; also, application includes the analysis of past market dynamics from 2016 to 2020, considering 2020 as the base year.
Lastly, the market research report provides a regional comparison and a complete country-level analysis for the latest trends, along with the major key players (Texas Instruments, Robert Bosch GmbH, Mitsubishi Electric Corporation, Infenion Technologies, Denso Corporation, NXP Semiconductor, HELLA GmbH & Co., Valeo, CTS Corporation, Renesas Electronics Corporation, ZF Friedrichshafen AG, Delphi Technologies, PCB Piezotronics Inc., STMicroelectronics N.V., TE Connectivity) in the Automotive Powertrain Sensor Market across the region.
You can browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on the “Global Automotive Powertrain Sensor Market.”
https://www.maximizemarketresearch.com/market-report/global-automotive-powertrain-sensor-market/119054/
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The post Global Automotive Powertrain Sensor Market is expected to surpass US$ 23.62 billion by the year 2027, from US$ 19.9 billion in 2020. appeared first on MAXIMIZE MARKET RESEARCH.
