2022 Automotive Ultrasonic Sensor Market Research Report

The automotive ultrasonic sensor market has been growing steadily in recent years due to the increasing demand for advanced safety features in vehicles. ICV estimates the global automotive ultrasonic sensor market is expected to grow at a CAGR of 11.5% between 2022 and 2027. This growth is being driven by the increasing adoption of advanced driver assistance systems (ADAS) and the growing trend of autonomous driving. Some of the key players in the automotive ultrasonic sensor market include Texas Instruments, Bosch, Valeo, and Murata Manufacturing. These companies have been at the forefront of developing innovative ultrasonic sensor technologies for the automotive industry. In this market research report, we will provide an in-depth analysis of the global automotive ultrasonic sensor market, including market trends, drivers and challenges, and competitive landscape. We will also provide a detailed analysis of the key players in the industry, including their market share, product offerings, and strategic initiatives.

In 2022, the global market size of automotive ultrasonic sensor slightly increased compared to 2021, reaching 3.498 billion USD. ICV predicts that the market size will exceed 5 billion USD dollars by 2025, and reach 6.726 billion USD in 2027. As for market share, ICV has divided the global market into five regions: China, Europe, America, Asia (excluding China), Oceania, the Middle East (AOME), and Africa. China ranks first with a 43.08% share, followed by the European market (23.5% market share). The American market accounts for approximately 11.38% of the global market, while the remaining two regions have market shares of 20.75% and 1.29%, respectively.

The Chinese market for automotive ultrasonic sensor reached a value of 1.507 billion USD in 2022 and is expected to surpass 2 billion USD by 2024, with an estimated growth to 2.908 billion USD by 2027, achieving a CAGR of around 12.2% from 2022 to 2027. The European market, ranked second, was valued at 821 million USD in 2022 and is predicted to reach 1.498 billion USD in 2027, with an annual compound growth rate of approximately 10.5% over the 6-year period.

The market competition in the automotive ultrasonic sensor industry is intense, with prominent players such as Texas Instruments (17.57%), Bosch (15.41%), Valeo (13.2%), Rockwell Automation (10.13%), Honeywell (8.44%), and Murata Manufacturing (4.54%). Other noteworthy suppliers in the market include Denso, Pepperl+Fuchs, and etc. Currently, the level of market concentration in the automotive ultrasonic sensor market is moderate, with the top three companies accounting for nearly 50% of the market share.

Table of Contents

Executive Summary

Research Objectives, Scope, and Methodology

1. Introduction

1.1 An overview of Automotive Ultrasonic Sensor market

1.2 Classifications

1.3 Assumptions

2. Market Trends and Forecasts

2.1 Global market overview

2.2 China

2.3 Europe

2.4 America