Crankshaft Position Sensor Market is to Touch $914.0 Million by 2030; The increasing demand for Crankshaft Position Sensor across various industries such as automotive and aerospace propels market growth.

The Crankshaft Position Sensor Market size is estimated to reach $914.0 Million by 2030, growing at a CAGR of 9% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Crankshaft Position Sensor Market –By Type (Linear Position Sensor, Rotary Position Sensor, Proximity Sensors), By Technology (Hall-Effect Sensor, Magneto Resistive Sensor), By Contact Type (Contact, Non-Contact), By Output (Analog, Digital), By End-User (Automotive, Aerospace, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Rising demand for hybrid and electric vehicles and increasing adoption of advanced engine technologies are fueling the growth of the Crankshaft Position Sensor industry during the forecast period.

Asia-Pacific holds the largest share in 2023 of the Crankshaft Position Sensor market. The region is home to some of the world's largest automotive manufacturing hubs, particularly in countries like China, Japan, South Korea, and India, where both local and global automakers have extensive production facilities. The growing demand for passenger and commercial vehicles, driven by rising incomes, urbanization, and expanding transportation networks, has significantly boosted the need for advanced automotive components, including CPS. Additionally, stringent emission regulations and fuel efficiency standards in countries like China and Japan are pushing automakers to adopt advanced engine technologies, increasing the demand for highly accurate crankshaft sensors to optimize engine performance. Moreover, the region’s well-established supply chain for automotive parts and the presence of leading automotive sensor manufacturers further contribute to its dominance in the market.

With the global automotive industry shifting toward sustainable transportation, hybrid and electric vehicles (EVs) are gaining significant traction. Although traditional crankshaft position sensors are primarily used in internal combustion engines (ICE), hybrid vehicles, which utilize both electric motors and ICE, still rely heavily on CPS for engine management. As hybrid vehicle adoption grows, sensor manufacturers are innovating to meet the unique demands of this market. Crankshaft sensors are being adapted to integrate with advanced powertrain systems that control both electric and fuel-driven engines. This trend also includes a shift towards lightweight and energy-efficient sensor designs that help improve overall vehicle efficiency and reduce emissions. In April 2023, Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency. The IEA projected that “surging demand” for EVs over the next decade was set “to remake the global auto industry and significantly reduce oil consumption for road transport.” As the global push toward electrification continues, hybrid vehicles present a key opportunity for CPS manufacturers to evolve their products to cater to this growing market segment.

The growing demand for fuel efficiency and performance optimization has led to the widespread adoption of advanced engine technologies, such as turbocharging, variable valve timing, and direct fuel injection. These innovations require precise control and real-time monitoring of engine parameters, where CPS plays a crucial role in tracking the crankshaft’s position. Accurate synchronization of the crankshaft with other engine components is essential to maximize efficiency and reduce emissions. As engines become more complex, the need for highly accurate and responsive CPS systems increases. Sensor manufacturers are focusing on improving precision and reducing lag time in engine monitoring systems, enabling automotive manufacturers to push the boundaries of engine performance and efficiency.

Key companies profiled in the Crankshaft Position Sensor Market are Delphi Automotive PLC, Robert Bosch GmbH, Denso Corporation, Honeywell International Inc., Suntech Auto Spares, Hitachi Astemo, Ltd., Wenzhou Fonan Automotive Electronics Co., Ltd., Guangzhou Yaopei Auto Parts Co., Ltd., BWD, Taiwan Ignition System Co., Ltd., Allegro MicroSystems, Inc., Standard Motor Products, Inc., Dorman Products, Valeo Service, Continental AG and others.