Electric Vehicle (EV) Sensor Market Analysis

Electric Vehicle Sensor Market Analysis

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The position sensor market is expected to attain around 10% gains through 2030. Rising awareness correlated with the monitoring and safety systems in electric vehicles has escalated product sales. These sensors are used in applications with motion detection involved as they can monitor precise speed and movement. In the case of BEVs, position sensors are used for identifying the position of the pedals, steering wheel, and seats, along with valves, actuators, and knobs.
 

The passenger cars segment dominated with around 80% of the electric vehicle sensor market share in 2021. Growing demand for automotive electrification together with the integration of advanced safety and infotainment systems in vehicles will fuel the segmental growth. These systems use different powertrain sensors such as temperature, speed, position, current, and ultrasonic, among other sensors to ensure maximum power utilization from EV batteries.
 

Electric vehicle sensor market application in BEV sector is projected to foresee growth of above 10% during 2022-2030. A supportive regulatory framework in addition to growing awareness levels has increased the adoption of Battery Electric Vehicle (BEV) with consumers seeking environment-friendly vehicles. EVs have several advantages such as low maintenance cost, high efficiency, and low carbon emissions which influence the business stance.
 

The Europe EV sensor market is set to record around 8% growth rate between 2022 and 2030. This is achievable due to the increasing requirement of advanced technologies such as IoT and AI in the automotive industry for electric mobility. Systems such as ADAS (Advanced Driver Assistance Systems) and EBD (Electronic Brake force Distribution) are increasingly integrated into electric vehicles to ensure passenger safety which further supports product acceptance