The global automobile pressure sensors market size is projected to expand at a substantial CAGR during the forecast period. Growth of the market is attributed to rising demand for sensory application.
The automotive pressure sensor market has grown steadily over time. The expansion of the automotive industry is expected to benefit the automotive pressure sensor market. Some of the primary factors driving the automotive pressure sensor market are rising demand for automotive safety features, stringent government regulations, and rapidly rising safety awareness among individuals. Previously only accessible in premium vehicles, automakers have begun to integrate these features into entry-level vehicles in order to extend their customer base.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing initiatives and support from government is projected to drive the market.
- Rising demand of automobile sensors for sensory application has fueled the market.
- High cost of installation and timely maintenance is estimated to hinder the market growth.
- Development of modern sensory application is anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the global automobile pressure sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Automobile Pressure Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Alternative Fuel Vehicle
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Honeywell International Inc.; Denso Corporation; Robert Bosh Gmbh; ST Microelectronics NV; and Infineon Technologies AG
Market Segment Insights
The passenger car segment holds a major market share
Based on types, the global automobile pressure sensors market is segregated into passenger car, light commercial vehicle, heavy commercial vehicle, and alternative fuel vehicle. The passenger car segment is projected to expand at a rapid pace. The demand for passenger automobiles has increased as the millennial population's spending power increased.
The tire pressure monitoring system segment is anticipated to expand during the forecast period
On the basis of applications, the automobile pressure sensors market is segregated into tire pressure monitoring system, brake booster system, engine management system, exhaust gas recirculation system, air bag system, and vehicle dynamic control. The tire pressure monitoring system segment is estimated to expand at a high CAGR. Pressure monitoring sensors in each tier are used by TPMS to monitor pressure levels and communicate the information to a centralized control module. Direct TPMS (dTPMS) and indirect TPMS (iTPMS) are the two forms of TPMS. With the introduction of linked automobiles or driverless vehicles technologies, TPMS is becoming smarter.
Asia Pacific is projected to dominate the market
In terms of regions, the global automobile pressure sensors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Sensor manufacturers have historically been concentrated in the Asia-Pacific, with China, India, Japan, and Taiwan being the primary producers. The expansion of the automotive sector in countries like China and India is credited with the region's progress. The region's increasing economy, as well as developments in the regulatory environment, has aided the growth of the passenger car sensors market. Miniaturization and enhanced communication capabilities are propelling the Asia-Pacific automotive sensor market, allowing for their integration into automobiles without interfering with the vehicle's core functions. Other significant aspects aiding the growth of the automotive sensors market are low cost, compact size, eco-friendly nature, and bulk manufacturing capabilities.
Segments Covered in the Report
The global automobile pressure sensors market is segmented on the basis of
- Passenger Car
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Alternative Fuel Vehicle
- Tire Pressure Monitoring System
- Brake Booster System
- Engine Management System
- Exhaust Gas Recirculation System
- Air Bag System
- Vehicle Dynamic Control
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- Honeywell International Inc.
- Denso Corporation
- Robert Bosh Gmbh
- ST Microelectronics NV
- Infineon Technologies AG
Key players competing in the global automobile pressure sensors market include Honeywell International Inc.; Denso Corporation; Robert Bosh Gmbh; ST Microelectronics NV; and Infineon Technologies AG.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.