The Automotive Pressure Sensor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Pressure Sensor Global Market Report 2024, The automotive pressure sensor market size is expected to see strong growth in the next few years. It will grow to $15.70 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to continued growth of electric and hybrid vehicles, rising demand for connected car technologies, growing focus on vehicle electrification, increasing government initiatives for smart transportation, and rising demand for enhanced safety features. Major trends in the forecast period include development of miniaturized and multifunctional sensors, integration of pressure sensors with telematics systems, increasing integration of advanced driver-assistance systems (ADAS), advancements in sensor fusion technologies, and increasing demand for sensors in autonomous vehicles.
The increasing demand for electric vehicles is anticipated to drive the growth of the automotive pressure sensor market. Electric vehicles are automobiles powered by electric motors, utilizing rechargeable batteries or other energy storage systems as their primary source of propulsion. The increasing demand for electric vehicles is driven by factors such as stringent emission regulations, advancements in battery technology, growing environmental awareness, government incentives, and rising fuel costs. Automotive pressure sensors enhance the demand for electric vehicles by ensuring the efficient operation of critical systems such as battery management, tire pressure monitoring, and cooling systems, thereby improving performance, safety, and reliability. For instance, in April 2024, according to the data shared by the International Energy Agency, a France-based autonomous organization, nearly 14 million new electric cars were registered globally in 2023, closely tracking the 2023 Global EV Outlook forecast and bringing the total to 40 million. This represents a 35% year-on-year increase, with 3.5 million more sales than in 2022. Therefore, the increasing demand for electric vehicles is driving the automotive pressure sensor market.
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The automotive pressure sensor market covered in this report is segmented –
1) By Technology: Piezoelectric, Capacitive, Optical, Electromagnetic, Resonant, Other Technology
2) By Fuel Type: Petrol, Diesel, Electric, Hybrid, Other Fuel Types
3) By Vehicle Type: Passenger Vehicles, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV)
4) By Application: Heating Ventilation And Air Conditioning (HVAC) Pressure Sensor, Fuel Pressure Sensor, Oil Pressure Sensor, Manifold Pressure Sensor, Tire Pressure Monitoring Sensor, Airbag System, Engine Control System, Power Steering, Transmission, Antilock Braking System (ABS), Other Applications
5) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
Major companies operating in the automotive pressure sensor market are focusing on innovative products such as tire pressure sensors, to enhance vehicle safety and performance and to provide real-time monitoring and alerts, helping to prevent accidents and improve fuel efficiency. Tire pressure sensors are devices installed in vehicles to monitor and transmit real-time tire pressure data to the driver, ensuring optimal tire performance and safety. For instance, in September 2023, Infineon Technologies AG, a Germany-based automotive semiconductor manufacturer, launched the XENSIV SP49 tire pressure monitoring sensor. This represents a significant technological innovation in the automotive pressure sensor market. The sensor integrates Microelectromechanical Systems (MEMS) sensors and an Application-Specific Integrated Circuit (ASIC) to enable smart tire functionalities such as on-tire auto-position sensing, assistance with tire inflation, detection of blowouts, and identification of loads. This is made possible by its powerful 32-bit Arm M0+ core, large flash memory, and optimized acceleration sensing capabilities.
The automotive pressure sensor market report table of contents includes:
1. Executive Summary
2. Automotive Pressure Sensor Market Characteristics
3. Automotive Pressure Sensor Market Trends And Strategies
4. Automotive Pressure Sensor Market – Macro Economic Scenario
5. Global Automotive Pressure Sensor Market Size and Growth
…..
32. Global Automotive Pressure Sensor Market Competitive Benchmarking
33. Global Automotive Pressure Sensor Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automotive Pressure Sensor Market
35. Automotive Pressure Sensor Market Future Outlook and Potential Analysis
36. Appendix
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