Market Size of Automotive Pressure Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Automotive Pressure Sensors Market Analysis
The Automotive pressure sensors market was valued at USD 10.10 billion in 2021 and is expected to reach USD 14.60 billion by 2027 registering a CAGR of above 7% during the forecast period (2022 - 2027).
The COVID-19 pandemic has severely impacted the many automotive sensors companies owing to restrictions imposed by government. Many automotive sensors manufacturers have experienced significant resource bottlenecks in the global supply and logistics chains in the year that had a perceptibly negative effect on their businesses. However, post-pandemic as restrictions eased market is expected to gain momentum during the forecast period.
Modern vehicle restraint systems utilize side airbag pressure sensors to satisfy passenger car safety requirements. Furthermore, the air pressure sensor improves engine efficiency by effectively controlling spark advances in gasoline and diesel engines.
Hence, the market is expected to develop due to the rising use of pressure sensors in the engine and the vehicle's safety system.Increasing demand for advanced technologies, comfort and safety expected to further set positive trend for market growth. However, high Cost and limitations under bad weather conditions to act as restraints during the forecast period.
Low automotive production costs and the availability of low-cost labour characterise the Asia Pacific market, which is characterised by rising middle-class disposable income and cost benefits for OEMs. However, the number of people killed in car accidents has climbed in recent years, forcing regulators to enact more strict safety and pollution standards.
Further, key market drivers in North America and Europe that impact the automotive sensors market growth are growing demand for safety and comfort characteristics, new energy vehicles, connected vehicles, body electronics and upcoming autonomous vehicles, the rigorous regulatory framework.
Automotive Pressure Sensors Industry Segmentation
Automotive pressure sensors are used in three types of vehicle types: passenger cars, light commercial vehicles, and heavy commercial vehicles. The Scope of the report covers segmentation based on vehicle type, application type, and geography.
By Vehicle Type, the market is segmented into Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Alternative Fuel Vehicle. By Application, the market is segmented into Tire Pressure Monitoring System, Brake Booster System, Engine Management System, Exhaust Gas Recirculation System, Air Bag System, Vehicle Dynamic Control.
By Geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world. For each segment, market sizing and forecast have been done on basis of value (USD billion).
| By Vehicle Type | |
| Passenger Car | |
| Light Commercial Vehicle | |
| Medium and Heavy Commercial Vehicle |
| By Application | |
| Tire Pressure Monitoring System | |
| Brake Booster System | |
| Engine Management System | |
| Exhaust Gas Recirculation System | |
| Air Bag System | |
| Vehicle Dynamic Control | |
| Other Applications |
| Geography | |||||||
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Automotive Pressure Sensors Market Size Summary
The automotive pressure sensors market is poised for significant growth, driven by the increasing integration of these sensors in modern vehicles to enhance safety and efficiency. The market is experiencing a resurgence post-COVID-19, as restrictions have eased, allowing for a recovery in demand. The rising adoption of pressure sensors in engine management and vehicle safety systems, such as side airbags and tire pressure monitoring systems (TPMS), is a key factor propelling market expansion. The demand for advanced technologies that improve vehicle comfort and safety is also contributing to the positive market outlook. However, challenges such as high costs and performance limitations in adverse weather conditions may pose constraints to market growth.
Regionally, the Asia-Pacific market is characterized by low production costs, availability of affordable labor, and a burgeoning middle class with increasing disposable income, which are advantageous for original equipment manufacturers (OEMs). The region's automotive sensor market is further bolstered by the trend of miniaturization and enhanced communication capabilities, facilitating seamless integration into vehicles. In North America and Europe, the market is driven by stringent safety and pollution regulations, alongside a growing demand for new energy and connected vehicles. The market landscape is consolidated, with major players like Robert Bosch, Infineon, and DENSO dominating, while ongoing technological advancements and strategic acquisitions continue to shape the competitive dynamics.
Automotive Pressure Sensors Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Vehicle Type
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2.1.1 Passenger Car
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2.1.2 Light Commercial Vehicle
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2.1.3 Medium and Heavy Commercial Vehicle
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2.2 By Application
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2.2.1 Tire Pressure Monitoring System
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2.2.2 Brake Booster System
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2.2.3 Engine Management System
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2.2.4 Exhaust Gas Recirculation System
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2.2.5 Air Bag System
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2.2.6 Vehicle Dynamic Control
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2.2.7 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 Middle-East and Africa
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2.3.4.1 South America
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2.3.4.2 Rest of Middle-East and Africa
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Automotive Pressure Sensors Market Size FAQs
What is the current Automotive Pressure Sensors Market size?
The Automotive Pressure Sensors Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Automotive Pressure Sensors Market?
Honeywell International Inc., DENSO Corporation, Robert Bosch GmbH, ST Microelectronics NV and Infineon Technologies AG are the major companies operating in the Automotive Pressure Sensors Market.
