PUBLISHER: The Business Research Company | PRODUCT CODE: 1664271
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664271
Electric vehicle (EV) sensors are specialized devices employed in electric vehicles to enhance performance efficiency and detect characteristics such as pressure, temperature, and humidity, contributing to improved vehicle efficiency and safety.
The main products in the electric vehicle (EV) sensors category include temperature sensors, current sensors, position sensors, pressure sensors, and speed sensors. Temperature sensors, for example, play a crucial role in Li-Ion battery charging and safety, providing essential temperature information to maintain the Li-Ion battery in optimal condition throughout the charging cycle. The propulsion systems in battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs) utilize various sensor types, and these sensors are distributed through channels such as OEM (original equipment manufacturer) and the aftermarket.
The electric vehicle (EV) sensors market research report is one of a series of new reports from The Business Research Company that provides electric vehicle (EV) sensors market statistics, including electric vehicle (EV) sensors industry global market size, regional shares, competitors with an electric vehicle (EV) sensors market share, detailed electric vehicle (EV) sensors market segments, market trends and opportunities, and any further data you may need to thrive in the electric vehicle (EV) sensors industry. This electric vehicle (EV) sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric vehicle (EV) sensor market size has grown rapidly in recent years. It will grow from $9.31 billion in 2024 to $10.49 billion in 2025 at a compound annual growth rate (CAGR) of 12.7%. The growth in the historic period can be attributed to government incentives, environmental regulations, battery innovation, consumer demand, supply chain improvements, infrastructure development.
The electric vehicle (EV) sensor market size is expected to see rapid growth in the next few years. It will grow to $16.79 billion in 2029 at a compound annual growth rate (CAGR) of 12.5%. The growth in the forecast period can be attributed to ev market expansion, autonomous driving development, battery technology evolution, partnerships and collaborations. Major trends in the forecast period include increased ev adoption rates, rising autonomous driving features, battery management systems, stringent emission standards, focus on vehicle safety.
The rising demand for electric vehicles is anticipated to drive the growth of the electronic vehicle (EV) sensors market. Electric vehicles are defined as those that are either partially or fully powered by electricity. EV sensors play a critical role in electric vehicles by reading real-time signals and taking necessary actions to manage in-vehicle functions such as ignition timing and speed control. They also help in reducing gasoline costs, lowering carbon emissions, and enhancing energy security. For example, in January 2023, a report from the U.S. Department of Energy, a federal agency responsible for nuclear infrastructure and energy policies, indicated that monthly sales of new plug-in electric cars (PEVs), which include all-electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), reached 7.4%, surpassing 7% for the first time since September 2022. Of this total, 1.2% were PHEVs. Therefore, the increasing demand for electric vehicles is fueling the growth of the electronic vehicle (EV) sensors market.
The escalating safety concerns associated with EV operations are expected to fuel the demand for electric vehicle (EV) sensors. Safety issues concerning the secure and risk-free functioning of electric vehicles encompass critical areas such as battery safety, collision avoidance, and overall operational safety protocols. EV sensors play a crucial role in monitoring and optimizing various aspects, including battery performance, motor control, charging, thermal management, safety features, and driver assistance systems. For instance, data from EV FireSafe, an Australia-based research database, revealed higher incident rates in fire and road safety for e-scooters and e-bikes compared to electric vehicles (EVs). These incidents included over 500 battery fires, 138 injuries, and 36 fatalities for e-scooters and e-bikes, whereas electric vehicles experienced 35 battery fires, resulting in eight injuries and four fatalities. Consequently, the escalating safety concerns in EV operations are anticipated to propel the growth of the electric vehicle (EV) sensor market.
Product innovation emerges as a prominent trend driving advancements in the EV sensors market. Key market players are leveraging extensive research and development endeavors to introduce innovative technologies aimed at consolidating their market position. For example, Continental, a Germany-based automotive company, introduced the Current Sensor Module (CSM) and the battery impact detection (BID) system for electrified vehicles in May 2022. These new sensors specifically emphasize battery characteristics and safety, expanding the range of sensors offered by the company. Furthermore, Microchip Technology Inc., a US-based semiconductor manufacturer, unveiled the LX34070 IC in June 2022-a novel inductive position sensor designed for the electric vehicle motor control industry. This sensor, equipped with differential outputs and rapid sample rates, complies with ISO 26262 at the Automotive Safety Integrity Level-C (ASIL-C), showcasing a commitment to innovative safety-centric sensor technology in the EV domain.
Prominent players in the electric vehicle (EV) sensor market are strategically focusing on developing innovative products, such as the Lithium-Ion Battery Failure Detection Sensor, to gain a competitive edge and expand their customer base. This advanced safety device specifically targets early detection of potential lithium-ion battery failures by identifying released gases during the initial stages, significantly enhancing safety measures across various industries utilizing electric vehicles. A notable example occurred in November 2023 when United Safety & Survivability Corporation, a US-based company specializing in advanced safety solutions, unveiled its groundbreaking Lithium-Ion Battery Failure Detection Sensor. This innovative sensor sets a new safety standard for electric vehicles across diverse industries by efficiently identifying early signs of failure through gas detection during initial stages. Its early detection capabilities enable timely interventions to mitigate issues before they escalate. Moreover, the sensor offers versatility, operating independently or integrating seamlessly with fire suppression systems such as the Fogmaker Fire Suppression System, providing a comprehensive solution for detection and suppression.
In January 2023, Sona BLW Precision Forgings, an India-based precision forging technology company, made a significant acquisition by obtaining a 54% equity stake in NOVELIC, a Swedish sensors and software company, for 40.5 million euros ($43.59 million). This strategic move by Sona Comstar is anticipated to mark its entry into the Advanced Driver Assistance Systems (ADAS) sensor industry. NOVELIC, a Serbia-based provider of mmWave radar sensors, operates within the EV sensors market. This acquisition strengthens Sona Comstar's foothold in the sensors sector, specifically focusing on mmWave radar sensors used in ADAS, showcasing a strategic alignment with the expanding EV sensors market and demonstrating an intent to diversify and broaden their sensor technology portfolio.
Major companies operating in the electric vehicle (EV) sensor market include Denso Corporation, Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments Incorporated, LEM Holding SA, Kohshin Electric Corporation, Vishay Intertechnology Inc., Allegro MicroSystems Inc., Amphenol Corporation, ams-OSRAM AG, Analog Devices Inc., Melexis NV, Sensata Technologies Inc., STMicroelectronics N.V., Renesas Electronics Corporation, TE Connectivity, Continental AG, Robert Bosch GmbH, ZF Friedrichshafen AG, Valeo SA, CTS Corporation, Honeywell International Inc., Kistler Group, Methode Electronics Inc., Panasonic Corporation, TDK Corporation, Aptiv plc, AVX Corporation, Bourns Inc., Hella Inc.
North America was the largest region in the electric vehicle (EV) sensor market in 2024. The regions covered in the electric vehicle (ev) sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the electric vehicle (ev) sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electronic vehicle (EV) sensors consist of sales of engine speed sensor, wheel speed sensor, vehicle speed sensor, throttle position sensor, temperature sensor. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Vehicle (EV) Sensor Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric vehicle (ev) sensor market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric vehicle (ev) sensor ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric vehicle (ev) sensor market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.