Saudi Arabia Automotive Temperature Sensor Market
Saudi Arabia Automotive Temperature Sensor Market Size to Grow at 8.5% CAGR During 2022–2028
Published | 17 November 2022
Saudi Arabia automotive temperature sensor market is flourishing because of an increasing customer awareness about vehicle safety, a shift in consumer preference toward alternative fuel vehicles, ongoing sensor technology developments, and an increasing use of connected cars along with high adoption of electric vehicles.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects that Saudi Arabia automotive temperature sensor market to grow at a CAGR of 8.5% during the forecast period between 2022 and 2028. The expansion of Saudi Arabia automotive temperature sensor market is driven by rising consumer preference for alternative fuel vehicles and an increasing focus on reducing the number of traffic incidents using sensor technology and navigate through harsh weather conditions. High disposable income among Saudi Arabians, which leads in the high adoption of private vehicles, is also a major growth factor for the market. Furthermore, Saudi Guidelines, Metrology, and Quality Organization (SASO) stringent government safety regulations for new vehicles, combined with automobile manufacturers increased focus on designing electronic components, safety sensors, and smart braking systems, are expected to further fuel the growth of Saudi Arabia automotive temperature sensor market. Meanwhile, the cost pressure on automotive OEMS and limitations of temperature sensors are anticipated to limit the growth of Saudi Arabia automotive temperature sensor market during period in analysis.
Saudi Arabia Automotive Temperature Sensor Market – Overview
Temperature sensors are employed to track the engine, exhaust, heating, ventilation, and air Conditioning (HVAC), and transmission temperatures. There are two types of temperature sensors used in automobiles: contact temperature sensors and non-contact temperature sensors. Contact temperature sensors include thermocouple, resistance temperature detector (RTD), thermistor, and bimetallic thermistor, whereas non-contact temperature sensors include the pyrometer or infrared temperature sensors. The sensor precisely monitors essential fluid and inbound air temperatures, ensuring vehicles life span. The data is then sent to the ECU (electronic control unit), which uses it to calculate the optimal amount of fuel and air for maximum performance and economy. Furthermore, the automotive sector has grown dramatically in recent years, fueled by increased unit sales and the adoption of innovative technologies, such as for safety, entertainment, or sheer innovation. Many government organizations are developing safety and pollution control standards that necessitate the installation of sensors. Thus, automobile manufacturers must comply with these agencies' safety and emissions control rules. Over the projected period, it is expected to drive the demand for automotive temperature sensors.
Segmental Information
Saudi Arabia Automotive Temperature Sensor Market - By Sensor Type
Based on sensor type, Saudi Arabia automotive temperature sensor market is segregated into Temperature Sensor, Pressure Sensor, Oxygen Sensor, Position Sensor, Motion Sensor, Torque Sensor, and Optical Sensor segments. The position sensor segment is expected to hold the highest share in the market, due to a surging demand for luxury automobiles and increasing requirement for improved driver convenience. The necessity to assure the efficient functioning and safety of all automotive parts is driving the demand for position sensors. Continuous advancements in the automotive sector and the launch of upgraded position sensors could spur the demand for position sensors in Saudi Arabia.
Impact of COVID-19 on Saudi Arabia Automotive Temperature Sensor Market
The COVID-19 pandemic had a detrimental effect on the Saudi Arabia automotive temperature sensor market. The suspension of production and end-use sector operations had affected the market. The COVID-19 pandemic in 2020 and early 2021 had a significant negative impact on the industry's overall growth, as it resulted in the imposition of severe lockdown regulations across countries, including in Saudi Arabia, causing difficulties in automotive temperature sensor import and export activities. Consequently, COVID-19 pandemic hampered the growth of Saudi Arabia automotive temperature sensor market. During the post pandemic period, however, Saudi Arabia automotive temperature sensor market is expected to regain its growth trend as business activities are coming back to normalcy.
Competitive Landscape
Saudi Arabia automotive temperature sensor market is fiercely competitive. Prominent players in the market include Robert Bosch GmbH, Denso Corporation, Infineon Technologies AG, Texas Instruments Incorporated, Continental AG, BorgWarner Inc., and Analog Devices, Inc. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, market initiatives, mergers and acquisitions, and other collaborative activities.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Saudi Arabia Automotive Temperature Sensor Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Saudi Arabia Automotive Temperature Sensor Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Related Report
Publish Date: November 2022
Rising customer awareness about vehicle safety, a shift in consumer preference toward alternative fuel vehicles, ongoing sensor technology developments, and increasing use of connected cars along with high adoption of electric vehicles are expected to propel the expansion of Saudi Arabia Automotive Temperature Sensor Market at a steady growth rate during forecast period between 2022 and 2028.
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