The global engine transmission sensors market is anticipated to grow at a moderate CAGR of 2.4% during the forecast period (2022-2028). The rise in government regulations towards reducing the carbon footprint of vehicles and other stringent environmental regulations are providing significant growth opportunities for the players operating in the global engine transmission sensor market. For instance, in December 2021, US Environmental Protection Agency (EPA) revised national greenhouse emissions standards for passenger cars and trucks for model years 2023-2026. The final standards are projected to achieve significant GHC emissions reductions along with reductions in other criteria pollutants. Also, in July 2021, European Commission adopted a series of legislative proposals setting out how it intends to achieve climate neutrality in the EU by 2050. Thus, the EU has set stricter fleet-wide CO2 emissions targets. EU targets for 15.0% reduction in CO2 emission for 2025 and 37.5% reduction for 2030 for passenger cars.
The rise in the stringent fuel economy norms is driving the need to adopt engine transmission sensors to comply with fuel efficiency standards. For instance, National Highway Traffic Safety Administration NHTSA’s Corporate Average Fuel Economy (CAFE) standards regulate how far the vehicles must travel on a gallon of fuel. NHTSA sets CAFE standards for passenger cars and light trucks and separately sets fuel consumption standards for medium and heavy-duty trucks and engines. Further, NHTSA had finalized CAFÉ standards for MYs 2024-2026. The final rule establishes standards that would require an average of approximately 49 mpg for passenger cars and light trucks in the model year 2026, by increasing fuel efficiency by 8% annually for model years 2024 and 2025 and 10.0% for the model year 2026. Moreover, the agency projects the final standards will save $1,400 in total fuel expenses of vehicles produced in these model years and avoid the consumption of 234 billion gallons of gas between model years 2030 to 2050. Thus, such stringent norms are anticipated to fuel the demand for the global automotive engine transmission sensors market.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Vehicle Type
- By Transmission Type
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Continental AG, Denso Corp., and Robert Bosch GmbH among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Automotive Engine Transmission Sensors Market Report by Segment
By Type
- Temperature Sensor
- Pressure Sensor
- Engine Speed Sensor
- Others
By Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Duty Trucks
- Others
By Transmission Type
- Automatic Transmission
- Automated Manual Transmission
- Continuously Variable Transmission
- Dual Clutch Transmission
By Distribution Channel
- OEM
- Aftermarket
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