Product ID: SQMIG20D2053
Automotive Sensor Market Size, Share, Growth Analysis, By Technology(MEMS and non-MEMS technology), By Vehicle type(Electric Vehicles, Heavy Duty Trucks) - Industry Forecast 2024-2031
Report ID:
SQMIG20D2053 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
62 |
Figures:
75
Automotive Sensor Market Dynamics
Automotive Sensor Market Drivers
Increased Popularity of Electric Vehicles to Bolster Demand for Automotive Sensors
- Some of the key drivers driving the market expansion include the increasing need for sensors in electric and hybrid vehicles, increased pressure sensor application in the automotive industry, and considerable growth in custom-designed automotive electronic devices.
- Due to strict government regulations on the emissions of dangerous gases into the environment, the increase in demand for electric vehicles has been dramatically accelerated in recent years.
Automotive Sensor Market Restraints
High Cost to Restrain Market Growth
- High development costs related to automotive sensors are anticipated to limit market expansion.
- The pandemic's extensive distribution and outbreak had a detrimental impact on the market for automobile sensors, which led to a drop in demand. Major manufacturers closed their factories, disrupting the supply chain and perhaps hurting market expansion.
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