Mexico Pressure Sensor Market Size (2024 - 2029)

The Mexico pressure sensor market is experiencing growth driven by the country's emergence as a manufacturing hub and the high adoption of automation in its manufacturing industry. This trend is boosting the demand for pressure sensors, particularly in the automotive sector, which is a significant contributor to the market's expansion. Despite challenges posed by the pandemic and economic contractions, the market's size is expected to grow, supported by government initiatives to diversify the economy and the continued development of various industries such as aviation, aerospace, and medical devices. The market's growth is closely tied to the performance of these end-user industries, which are gradually recovering and expanding.

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Market Size of Mexico Pressure Sensor Industry

Mexico Pressure Sensor Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.15 %
Market Concentration High

Major Players

Mexico Pressure Sensor Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico Pressure Sensors Market Analysis

The Mexico Pressure sensor market is expected to grow at a CAGR of 6.15% during the period 2021-2026. The market is expected to witness steady growth during this period with the ongoing industrial restorations and activities.

  • Mexico is developing as a manufacturing hub in the region; hence the adoption of automation in the Mexican manufacturing industry is very high. This has forced many manufacturers to adopt and invest in smart devices and smart plants, which is fueling the market for pressure sensors in the region.
  • Mexico is the sixth largest global passenger vehicle manufacturer, producing approximately three million vehicles annually (International Trade Administration, USA). As these numbers from the automotive industry continue to grow, the pressure sensor market is being largely profited.
  • The Mexican government has adopted several plans and policies to diversify the economy, and as such, the aviation and aerospace, medical device, apparel and textile, and consumer products industries have marked their presence in the economy's GDP. Despite the changes and uncertainty of NAFTA being renegotiated as the new United States-Mexico-Canada Agreement (USMCA), the major manufacturing industries in Mexico are expected to see continual growth in the following years. Other than that, the cost of labor is lesser in the country, which is advantageous for the industries.
  • The Mexican economy contracted by 8.2 percent due to the pandemic with a sharp drop in the first half of the year as demand and supply shocks had deep impacts on firms, employment, and households (source: World Bank). The growth of the pressure sensor market is highly reliant on the growth of end-user industries, which mainly include automotive, industrial, utility, aviation and aerospace, consumer products, textile, medical devices. Apart from the health industries, the other industries witnessed a substantial decline during this period.

Mexico Pressure Sensors Industry Segmentation

The pressure sensor detects, measures, and transmits the information, which helps analyze the performance of a device. Pressure sensors are used in numerous applications, which include medical, automotive, industrial, aerospace and defense, consumer electronics, food and beverage, HVAC, etc.

The market also covers the qualitative and quantitive performance of pressure sensors in the region. It also covers the study of the impact of Covid-19 in the market.

By Application
Automotive (Tire Pressure, Break Fluid Pressure, Vapor Pressure in Fuel Tank, Fuel Injection and CDRi, and Manifold Absolute Pressure among others)
Medical (Continuous Positive Airway Pressure (CPAP), Ventilators and Inhalers, and Blood Pressure Monitoring, Among Others)
Consumer Electronics
Industrial
Aerospace and Defence
Food and Beverage
HVAC
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Mexico Pressure Sensor Market Size Summary

The Mexico pressure sensor market is poised for steady growth, driven by the country's emergence as a manufacturing hub and the high adoption of automation in its manufacturing sector. This trend has led to increased investment in smart devices and plants, thereby boosting the demand for pressure sensors. The automotive industry, being a significant contributor, benefits from Mexico's position as a leading global passenger vehicle manufacturer, with a substantial portion of production destined for export, particularly to the United States. Additionally, the country's robust oil production and logistics infrastructure further underscore the extensive application of pressure sensors across various industries. Despite the economic challenges posed by the pandemic, the market's growth is closely tied to the recovery and expansion of key end-user industries such as automotive, industrial, aviation, and aerospace.

The Mexican government's strategic initiatives to diversify the economy have fostered growth in sectors like aviation, aerospace, medical devices, and consumer products, which in turn support the pressure sensor market. The ongoing development of infrastructure, such as the new rail-linked vehicle distribution center, is expected to enhance the automotive industry's capabilities, thereby increasing the demand for pressure sensors. The market is characterized by a few major players who dominate the landscape, yet innovation and sustainable practices are enabling new entrants to expand their presence. Furthermore, the integration of IoT-enabled devices for monitoring and controlling water quality highlights the growing importance of pressure sensors in smart infrastructure solutions. As the market continues to evolve, opportunities for technological advancements and strategic partnerships remain abundant.

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Mexico Pressure Sensor Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Assessment of Impact of COVID-19 on the Industry

    3. 1.3 Market Drivers

      1. 1.3.1 Growth Of End-user Verticals, such as Automotive and Healthcare

      2. 1.3.2 Increasing Adoption of MEMS and NEMS Systems in the Industry

    4. 1.4 Market Restraints

      1. 1.4.1 High Costs Associated with Sensing Products

    5. 1.5 Industry Value Chain Analysis

    6. 1.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 1.6.1 Bargaining Power of Suppliers

      2. 1.6.2 Bargaining Power of Buyers/Consumers

      3. 1.6.3 Threat of New Entrants

      4. 1.6.4 Threat of Substitute Products

      5. 1.6.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Application

      1. 2.1.1 Automotive (Tire Pressure, Break Fluid Pressure, Vapor Pressure in Fuel Tank, Fuel Injection and CDRi, and Manifold Absolute Pressure among others)

      2. 2.1.2 Medical (Continuous Positive Airway Pressure (CPAP), Ventilators and Inhalers, and Blood Pressure Monitoring, Among Others)

      3. 2.1.3 Consumer Electronics

      4. 2.1.4 Industrial

      5. 2.1.5 Aerospace and Defence

      6. 2.1.6 Food and Beverage

      7. 2.1.7 HVAC

Mexico Pressure Sensor Market Size FAQs

The Mexico Pressure Sensor Market is projected to register a CAGR of 6.15% during the forecast period (2024-2029)

ABB LIMITED , BOSCH SENSORTEC GMBH , GE MEASUREMENT & CONTROL , HONEYWELL INTERNATIONAL INC. and SCHNEIDER ELECTRIC SE are the major companies operating in the Mexico Pressure Sensor Market.

Mexico Pressure Sensor Report Snapshots

Mexico Pressure Sensor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)