Global Electric Vehicle Sensors market likely to grow at a CAGR of 12% during 2021-2026

DELTA, British Columbia - June 11, 2021 - PRLog -- According to the MarkNtel Advisors' research report, "Global Electric Vehicle Sensors Market Analysis, 2021," the market shall grow at a CAGR of 12% during 2021-26. The growth of the market attributes to the innovations and implementation of advanced technologies in electric vehicles. Further, strict norms regarding fuel emissions & efficiency coupled with snowballing concerns towards safety are other crucial factors propelling the growth of the Electric Vehicle Sensors market. Further, the rising focus of several automobile manufacturers to offer comfort driving is likely to drive the growth of the Electric Vehicle Sensors market in the forecast timeline.

Impact of COVID-19 on Global Electric Vehicle Sensors Market
The sudden outbreak of the COVID-19 pandemic has negatively impacted the growth of the Global Electric Vehicle Sensors market due to the imposition of lockdown, restriction on the global trade system, and other stringent norms laid by the government. Further, the spread of the pandemic has disrupted the overall supply chain of the market and resulted in the temporary shutdown of manufacturing units.

However, as the government has started relaxing the restrictions, the overall automobile industry shall begin to flourish in the coming years, resulting in increasing the demand for electric vehicle sensors, thereby boosting the growth of the Global Electric Vehicle Sensors market.

Pressure Sensors Exhibits Fastest Growth
Based on the Type, the market classifies into Temperature Sensors, Current/Voltage Sensors, Engine-Based Sensors, Proximity Sensors, Pressure Sensors, Position Sensors, Inertial Sensors, and Speed Sensors. Out of these, the Pressure Sensors segment is likely to grow substantially in the Global Electric Vehicle Sensors Market during 2021-26 due to the mounting demand for speed sensors in the automobile powertrain for various control and sensing applications, including fuel injection and oil pressure sensors. Therefore, the pressure sensors segment is likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Electric Vehicle Sensors Market Analysis, 2021."

According to MarkNtel Advisors, the major leading players in the Global Electric Vehicle Sensors Market are Denso, Infineon Technologies AG, NXP Semiconductors, Texas Instruments Incorporated, LEM, Kohshin Electric Corporation, Vishay Intertechnology, Inc, Allegro MicroSystems, Amphenol Advanced Sensors, Ams AG, Analog Devices, Melexis, Sensata Technologies, and STMicroelectronics.

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