Huachuang Securities·2025-06-02 00:15Investment Rating - The report maintains a "Buy" recommendation for the magnetic sensor industry, highlighting its potential growth driven by robotics and automotive applications [1]. Core Insights - The magnetic sensor market is expected to grow from USD 2.9 billion in 2023 to USD 3.7 billion by 2029, with a CAGR of 4% [4][29]. - Key applications driving growth include automotive electronics, industrial automation, and consumer electronics, with significant increases in sensor usage in electric and intelligent vehicles [6][29]. - The report emphasizes the competitive landscape, noting that leading international firms dominate the high-end market, while domestic manufacturers are accelerating their technological advancements and market share [7][29]. Summary by Sections 1. Magnetic Sensors: Core Perception Devices in the Smart Era - Magnetic sensors are essential for non-contact measurement of physical quantities like displacement and current, offering advantages in reliability and cost-effectiveness [11][13]. - The market is primarily dominated by Hall effect sensors, which hold a 64% market share, while TMR sensors are expected to gain traction due to their high sensitivity and low power consumption [16][18]. 2. Emerging Applications Driving Market Growth - Robotics: High-precision magnetic sensors are critical for joint control in humanoid robots, with the global humanoid robot market projected to reach USD 15.1 billion by 2030 [31][39]. - Automotive Electronics: The shift towards electric and intelligent vehicles is expected to double the number of magnetic sensors used per vehicle, increasing from 30-50 in traditional vehicles to 80-100 in hybrids and electric vehicles [46][49]. - New Energy: The recovery of the solar energy sector is anticipated to boost demand for TMR sensors in photovoltaic inverters [29][31]. 3. Competitive Landscape and Domestic Progress - The top five global manufacturers hold over 70% of the market share, with Allegro leading at 23% [7][29]. - Domestic companies like Naxin Microelectronics are making strides in technology and market presence, with new product launches and acquisitions enhancing their competitive edge [7][29]. 4. Related Companies - Naxin Microelectronics (688052) is highlighted for its revenue growth driven by automotive and robotics applications [4][7]. - Canrui Technology (688061) is noted for its dual focus on smart sensing and power management, actively pursuing high-end market opportunities [4][7].