The automotive pressure sensors market was valued at USD 12.23 billion in 2022 and is expected to reach USD 17.71 billion by 2032 growing at a CAGR of above 3.7% during the forecast period.
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The pandemic has significantly impacted the automotive sensor industry, with many companies' operations severely disrupted by government restrictions. International shipping and logistics need better resources, and the negative impact on the economy is evident. Restrictions on transportation and production led to competition in materials and products, leading to reduced production and related products. Automotive pressure sensors, an essential part of today's cars, have become difficult to locate during the shutdown, causing manufacturers to pressurize more.
However, with the easing of restrictions and the resumption of business activities after the pandemic, the automotive sensors market is expected to increase in the forecast period. Pressure sensors play an important role in keeping the vehicle safe and efficient. They are used to meet safety requirements, such as deploying side airbags in modern vehicles. Additionally, these sensors help increase engine efficiency by controlling exhaust emissions in gasoline and diesel engines. The demand for pressure sensors is expected to grow steadily as the automotive industry focuses on improving vehicle technology to meet consumer demands for comfort, safety, and sound operation.
Despite the agreement, there are still difficulties that will hinder economic growth. The high cost associated with high pressure and limitations in lousy weather will become a limitation during the forecast period. In addition, price changes in raw materials and related products continue to be a source of concern for companies. These challenges highlight the importance of innovation and change in the automotive sensor industry.
The Asia-Pacific region offers economic growth opportunities due to low vehicle production costs and labor costs. Rising middle income in countries such as India and China, combined with favorable conditions for original equipment manufacturers (OEMs), have made the region attractive for vehicle sensor design. But the region still faces challenges such as rising traffic deaths, prompting regulators to impose stricter safety and pollution standards. Despite these challenges, the Asia-Pacific market is poised to grow, supported by advances in vehicle consumption and government initiatives to promote cleaner and safer vehicles.
In North America and Europe, the increasing need for safety and comfort, the rise of new vehicles and connected vehicles, and the increase in car traffic are among the main factors.
Strict regulatory policies to improve vehicle safety and reduce emissions are also driving business growth in these areas. Advanced technology in automotive systems, such as transmission, engine management, power steering, and airbag systems, continues to expand the market.
The automotive pressure sensor market is segmented based on application and technology. The engine control system constitutes the largest market, reflecting the important role of pressure sensors in engine optimization. Adopting an anti-lock braking system (ABS) supported by safety guidelines and regulations drives growth in ABS applications. MEMS pressure sensors are expected to experience the highest growth due to advances in sensor technology, leading to performance and reliability.
In addition, in the electric vehicle segment, hybrid electric vehicles (HEVs) are required to become market leaders due to their high production volumes and extensive configurations of electrical equipment in power plants. As the automotive industry continues to evolve and embrace electrification, the demand for power meters in electric vehicles is expected to increase, providing significant benefits to businesses.
Consequently, although the automotive sensor industry has recovered from the COVID-19 pandemic, it is expected to grow in the post-pandemic period. Increasing demand for vehicle technology and regulatory and safety requirements will support market expansion. However, for manufacturers to seize the emerging opportunities in the automotive sensor market, they need to solve problems such as price constraints and product disruptions.
Tire pressure monitoring systems (TPMS) should be important in increasing vehicle growth. TPMS uses a pressure gauge installed in each tire to monitor the pressure level and send the data to the central control module. This technology is particularly important in the passenger segment, where tire management is considered an important safety measure. The auto industry is moving forward by introducing features designed to reduce the impact of crashes, reduce fatalities, and improve overall vehicle safety. Therefore, the demand for automotive TPMS is expected to grow well during the forecast period.
Many manufacturers are actively developing TPMS sensors to capture the growing market. These companies have developed various development strategies to strengthen their positions in the market.
For example:
Additionally, TPMS technology continues to evolve with the rise of connected cars and vehicles. Self-driving cars. This advancement enables TPMS to be widely used, providing instant information about the vehicle's tires and valuable information regarding tire temperature. Therefore, increasing consumer security awareness is another factor driving TPMS adoption.
Demand in the automotive pressure sensor industry is increasing, especially due to the widespread use of tire pressure monitoring systems. Developers are actively innovating and using creative strategies to capitalize on this growing market. The integration of TPMS technology into the connectivity and use of the car has expanded the use of these systems, revealing the important role of safety awareness while driving.
The Asia-Pacific region is important for sensor companies, with major players in China, India, Japan, and Taiwan. Regional dominance in the automotive industry, especially in countries such as China and India, has triggered the growth of the passenger sensors market. Strong market growth and advancements in regulatory frameworks have contributed positively to the automotive sensor market in the region.
Asia Pacific is expected to lead the automotive pressure sensor market during the forecast period, followed by North America and Europe. Large automotive markets such as China and India have increased the market value of pressure sensors. In recent years, due to the global digitalization trend and economic development, vehicle pressure sensor technology sales have increased significantly. Automotive pressure sensor system manufacturers have adapted to these changes, expanding their products to various car models and vehicles in emerging markets. Rapid growth in cars and trucks in the region continues to drive the automobile pressure sensor market.
The European market is expected to grow steadily due to high energy consumption and vehicle safety. Likewise, the North American market is expected to see balanced growth in value and volume due to the widespread use of pressure gauges in vehicles with high safety features and body electrics.
One of the key trends driving the automotive sensor market in Asia Pacific is miniaturization and advanced communication, thus facilitating integration into the vehicle without affecting the underlying operation. The increase in the production of car headlights in the automotive industry has also led to the growth of the pressure sensor market in the Asia-Pacific region. Other factors such as cost-effectiveness, compact size, environmental sustainability, and mass production may play an important role in promoting the expansion of the automotive sensors market.
The emergence of connected cars and autonomous vehicles has increased the need for technologically advanced sensors with greater efficiency and reliability. In addition, government subsidies for improving infrastructure and the availability of labor and raw materials increased the pace of automobile production.
Focusing on R&D in the sensor industry provides the opportunity for technological developments to open new paths for sensor applications. Based on these factors, the Asia-Pacific region is expected to contribute significantly to the automotive sensors market, driving innovation and market growth.
The automotive pressure sensor market is consolidating, with a few key players holding a significant share. Although most pressure sensor manufacturers also operate as car dealers, entering this market as a new car must present considerable challenges.
Large organizations such as Robert Bosch are using their wide range of products in the automotive and consumer markets with initiatives that will reduce costs and increase competitiveness. On the contrary, players such as Infineon, Sensata, Denso, and Melexis continue to focus on the automotive space and demonstrate a wide range of vertical integration in the industry.
In a significant business development, BorgWarner completed the acquisition of automotive MEMS sensor manufacturer Delphi Technologies in October 2020. The aim of this move is to achieve the profit balance of light vehicles, commercial vehicles, and the after-sales market. Such strategic acquisitions reflect the dynamic nature of the business and aim to diversify investment portfolios.
For Instance,
Premium Sensor Technology was announced in January 2022 with the launch of two new sensor families in the ND Series targeting mid-to-high applications. The idea behind this company is to meet the needs of various sectors, including business, transportation, R&D, and equipment manufacturing. Analysts are optimistic about the expansion, confirming Superior Sensor Technology's commitment to innovation and meeting the changing business environment.
Renesas Electronics, a leader in semiconductor solutions, launched the RAA2S425x series of integrated circuits, especially for high-voltage applications, in September 2021. This cutting tool provides a clear signal and sets specific parameters. It is beneficial for xEV/EV/FCEV vehicles to use brakes, transmission and HVAC systems. Analysts interpreted the move as Renesas Electronics strengthening its position as a major player in the semiconductor industry in response to the growing demand for accuracy and reliability in automotive thinking.
In November 2020, the well-known international microelectronics engineering company Melexis developed the MLX91805 smart tire sensor, which broke new ground in tire measurement. Melexis is focused on helping OEMs comply with the stringent regulatory requirements of the automotive tire industry and aims to foster innovation in smart tire solutions. Analysts see the MLX91805 as a significant development that meets regulatory requirements and paves the way for a new generation of smart tires across a wide range of vehicles. This move reflects Melexis' ability to anticipate industry trends and maintain a leadership position in automotive sensor technology.
Overall, these recommendations from Superior Sensor Technology, Renesas Electronics Corporation, and Melexis highlight the importance of the accuracy and reliability of high-voltage sensors. Analysts believe these advances will lead to greater innovation in the automotive sensor industry, leading to company growth opportunities and improving safety and efficiency in the auto industry.
The automotive pressure sensor industry covers three primary vehicles: passenger, light, and heavy commercial vehicles. The report includes vehicle type, application type, and geographical region segmentation. This comprehensive program provides detailed business environment information, allowing participants better to understand each segment's unique changes and trends. The report provides a comprehensive view of the automotive pressure sensor market by analyzing usage patterns, market dynamics, and technological advancements across various vehicle types and applications. This strategic analysis provides businesses with the necessary information to make informed decisions and take advantage of emerging opportunities in the automotive industry.
By Vehicle Type
By Application
By Geography
Adriel Mergulhao is a distinguished professional renowned for his expertise in consulting, market research, and primary market analysis. With over the year of experience, Adriel has solidified his position as a senior solution advisor, providing invaluable insights to numerous clients across diverse industries. His proficiency in primary market research methodologies allows him to uncover deep-seated consumer preferences and trends, empowering businesses to make strategic decisions confidently.
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