Automotive Throttle Position Sensor Market Trends

Automotive Throttle Position Sensor Market Synopsis

The Automotive Throttle Position Sensor Market is projected to grow from USD 32.2 Billion in 2021 to USD 79.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) 9.5% during the forecast period (2023 - 2032). Vehicles have become more sophisticated as they integrate sensors to detect internal and external operating conditions. A throttle position sensor (TPS) is a three-wire potentiometer, providing a variable resistance, depending on the position of the throttle valve in internal combustion engines (ICE). Hence, it is called a throttle position sensor, which is typically positioned on the throttle valve spindle, so that it can directly monitor its position. The throttle position sensor is highly resistant to engine bay contaminants and prevents moisture formation in the engine as the moisture in the air converts into liquid and affects the engine. Furthermore, the throttle position sensors also have single-channel or dual-channel solutions that ensure functional safety according to ISO 26262.

The factors that are responsible for the growth of automotive throttle position sensor market are improving automotive infrastructure in countries such as Japan, China, Germany, Norway, and the US, stringent vehicle emission norms, the growing adoption of potentiometer throttle position sensors in passenger vehicles, across the globe. The growing demand for TPS in automatic transmission, and the rising concerns regarding engine safety, also add to its growth.The stringent emission norms such as EURO-6, BHARAT stage-VI and US tier-2 regulations have promoted the use advanced sensor technology, by OEMs, which will further lead to market growth. The, growth is, however, restrained by the standard protocols for the development of the throttle position sensor and the rising complexity in the design of throttle sensors, which raise the the ov   erall cost of throttle sensors. The growing demand for advanced forms of throttle sensor, the growing economy in emerging countries, such as China, India, and Brazil, are the opportunities in the market.

The prominent players in the global automotive throttle position sensor market include Continental AG (Germany), Delphi Technologies (Ireland), Robert Bosch GmbH (Germany), Denso Corporation (Japan), HELLA GmbH & Co. (Germany), Magneti Marelli S.p.A (Italy), Infineon Technologies AG (Germany), Sensata Technologies, Inc. (US), Mitsubishi Electric Corporation (Japan), and CTS Corporation (US).

.Automotive Throttle Position Sensor Market, By Segmentation

The global automotive throttle position sensor market is segmented based on product type, vehicle type, sales channel, and region. On the basis of product type, the market has been segmented into potentiometer, socket, and comprehensive. On the basis of vehicle type, the market has been segmented into passenger car, and commercial vehicle. On the basis of sales channel, the market has been segmented into OEM, and aftermarket.

Geographically, the global automotive throttle position sensor market has been segmented into four major regions namely North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is estimated to hold the largest market share during the forecast period, owing to growing automotive infrastructure and the demand of automotive electronics in Japan and South Korea. Other potential market for throttle position sensors is North America due to the rules and regulations imposed by the US Environment Agency applied on automotive and sensor manufacturers.

Automotive OEMs and Tier-1 suppliers, such as Bosch, Continental, Denso, and Delphi are focusing on low cost and compact throttle position sensor for easy integration to measure full temperature range of -40 °C to +160 °C. In order to manufacture high performance and reliable temperature sensor, the advanced technologies such as high-heat resistant materials, hybrid sensor solutions and nanotechnology will play a vital role.

The report for global automotive throttle position sensor market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.