On-Board Magnetic Sensors - Global Strategic Business Report

The global market for On-Board Magnetic Sensors was estimated at US$2.0 Billion in 2023 and is projected to reach US$3.2 Billion by 2030, growing at a CAGR of 6.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Global On-Board Magnetic Sensors Market - Key Trends and Drivers Summarized

How Are On-Board Magnetic Sensors Enhancing Automotive Electronics?

On-board magnetic sensors play a critical role in modern automotive electronics, providing accurate and reliable detection of magnetic fields, positions, and rotational angles. These sensors are essential for functions such as position sensing, speed detection, and current measurement in electric power steering, braking systems, and motor control. On-board magnetic sensors come in various types, including Hall-effect sensors, magnetoresistive sensors, and inductive sensors, each tailored to meet specific automotive requirements. As the automotive industry embraces advancements in electric vehicles (EVs), autonomous driving, and advanced driver-assistance systems (ADAS), on-board magnetic sensors are becoming indispensable for ensuring vehicle safety, efficiency, and performance.

What Are the Key Segments in the On-Board Magnetic Sensors Market?

Major types include Hall-effect sensors, magnetoresistive sensors, and inductive sensors, with Hall-effect sensors holding the largest share due to their widespread use in automotive applications like throttle position, wheel speed, and current sensing. Key applications encompass powertrain, body electronics, chassis control, and safety systems, with powertrain applications representing the largest segment due to the increasing use of magnetic sensors in electric and hybrid vehicle motors. The market is further segmented by vehicle type, covering passenger vehicles, commercial vehicles, and electric vehicles, with electric vehicles driving significant demand due to the need for precise motor control and battery management.

How Are On-Board Magnetic Sensors Being Used Across Automotive Applications?

In powertrain systems, on-board magnetic sensors are used for motor control, providing real-time feedback on motor position, speed, and current, which is critical for efficient energy use in electric vehicles. In body electronics, these sensors enable accurate detection of door and window positions, enhancing safety and convenience. In chassis control systems, magnetic sensors are integrated into ABS (anti-lock braking systems) and ESC (electronic stability control) to monitor wheel speed and improve vehicle stability. ADAS applications, including adaptive cruise control and lane-keeping assistance, also rely on magnetic sensors for steering angle detection and torque sensing, ensuring precision and safety in autonomous and semi-autonomous driving environments.

What Factors Are Driving the Growth in the On-Board Magnetic Sensors Market?

The growth in the On-Board Magnetic Sensors market is driven by several factors, including the increasing adoption of electric and hybrid vehicles, which require advanced sensing technologies for motor control and battery management. The rise of autonomous vehicles and the expansion of ADAS have further fueled demand for precise position and speed sensors. Advancements in sensor technology, such as improved sensitivity, durability, and compact design, have enhanced the performance and reliability of magnetic sensors, supporting broader adoption. The growing emphasis on vehicle safety, efficiency, and emissions reduction has also accelerated the integration of magnetic sensors in powertrain and chassis systems. Additionally, government regulations promoting vehicle safety and emission standards are contributing to increased deployment of on-board magnetic sensors across the automotive sector.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Hall Effect Sensors segment, which is expected to reach US$1.3 Billion by 2030 with a CAGR of a 6.9%. The Magnetoresistive Sensors segment is also set to grow at 7.8% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $535.2 Million in 2023, and China, forecasted to grow at an impressive 10.4% CAGR to reach $780.0 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global On-Board Magnetic Sensors Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global On-Board Magnetic Sensors Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global On-Board Magnetic Sensors Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global On-Board Magnetic Sensors Market such as Asahi Kasei Microdevices Corporation, Austria Mikro Systeme, Honeywell International Inc., Infineon Technologies AG, Kohshin Electric and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Some of the 36 companies featured in this Global On-Board Magnetic Sensors market report include:

• Asahi Kasei Microdevices Corporation
• Austria Mikro Systeme
• Honeywell International Inc.
• Infineon Technologies AG
• Kohshin Electric
• Melexis NV
• Murata Manufacturing Co., Ltd.
• Sanken Electric
• Sensitec GmbH
• Sensoronix.com
• TDK Corporation
• TE Connectivity