Lucintel Forecasts Electric Vehicle Sensor Market to Reach $XX Billion by 2027

According to the recent study the electric vehicle sensor market is projected to reach an estimated $XX billion by 2027 from $XX billion in 2022, at a CAGR of 37.5% from 2022 to 2027. Growth in this market is primarily driven by growing demand for EV production across the globe, the formulation of stringent government regulations, and growing number of electronic components in EVs.
Browse 75 figures / charts and 68 tables in this 147 -page report to understand trends, opportunities and forecast in electric vehicle sensor market by propulsion type, sensor, application, and by region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Passenger vehicles market is expected to remain the largest segment during the forecast period.”
Based on application, the electric vehicle sensor market is segmented into passenger vehicles, commercial vehicles. Lucintel forecasts that the passenger vehicles market is expected to remain the largest segment due to increasing adoption of electric vehicles sensors.
“Within the electric vehicle sensor market, the battery electric vehicles (BEVs) segment is expected to remain the largest propulsion type”
Based on propulsion type the battery electric vehicles (BEVs) segment is expected to witness the highest growth over the forecast period.
“Europe will dominate the electric vehicle sensor market in near future”
Europe will remain the largest region in the forecast period.
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Major players of electric vehicle sensor market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Allegro MicroSystems, LLC, Amphenol Advanced Sensors, Parker Hannifin Corp, Texas Instruments, LEM, Kohshi