Automotive Pressure Sensors Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the Automobile Pressure Sensors market according to our research experts:
Tire Pressure Monitoring Systems (TPMS) Expected to Play Key Role in the Market
TPMS utilizes pressure monitoring sensors within each tire that monitor specific pressure levels and send the data to the centralized control module. TPMS usually finds major applications in the passenger vehicle segment, where tire pressure management is considered to be a critical safety system. The automotive industry has been stepping up on introducing features that aid in minimizing the impact of collisions, reduce fatalities, and improve overall vehicle safety. This, in turn, is fueling the growth of the automotive TPMS market during the forecast period.
Several manufacturers are manufacturing TPMS sensors for capturing the growing market share and are focused on designing various growth strategies to stablize their position in the market. For instance,
- In July 2021, Goodyear launched the DrivePoint-Tyre Pressure Monitoring System for trucks and trailers. This new solution does not require demounting of the tyre as the sensors can be quickly installed on the valves reducing installation complexity and associated downtime
- In 2019, JK Tyre & Industries launched sensors for monitoring and maintenance of tyres. Treel sensors (from the recently-acquired Treel Mobility Solutions) for strengthening the company's position in the domestic market. The company has introduced tyre pressure monitoring systems (TPMS) via Treel sensors that help in monitoring the tyres' vital statistics, including pressure and temperature.
Furthermore, TPMS is getting smart with the advent of connected cars or autonomous vehicles technology. The technology is increasing the adoption of TPMS, as it provides real-time data on vehicle tire pressure and also offers critical information on tire temperature. Hence, safety awareness among individuals is another factor driving the increased adoption of TPMS.
Asia-Pacific Expected to Hold the Largest Market Share in the Market
The Asia-Pacific region has been home to the manufacturers that provide sensors, with China, India, Japan, and Taiwan being the major contributors. The growth in Asia-Pacific is attributed to the development of the automotive industry in countries, such as China and India. The growing economy and advancements in the regulatory framework in the region have also helped the passenger car sensors market boom in the region.
The major trend driving the Asia-Pacific automotive sensor market is miniaturization and improved communication capabilities, which, in turn, enable their integration into vehicles without interfering with the basic functionalities of the vehicle. Increasing automotive light vehicle production is also driving the pressure sensor market in Asia-Pacific. Other factors, such as low cost, compact size, ecofriendly nature, and bulk manufacturing capability, are the key factors helping the automotive sensors market grow.
Recently, with the advent of connected cars and automated driverless vehicles, the demand for technologically-advanced sensors, which have better efficiency and reliability in terms of functioning, has increased substantially. Also, rise in government grants to improve industrial infrastructure, along with the availability of cheap labor and raw materials, has been an additional key factor to substantially increase the production of automotive sensors.
Increased research and development in the sensor industry is creating opportunities for technological advancements that open up new prospects for sensor applications. On basis of aforementioned factors, the Asia-Pacific region expected to hold significant share in the market.
Automotive Pressure Sensors Industry Overview
The Automotive pressure sensors market is consolidated, with few major players holding the majority of the share in the market. Although, it can be assumed that almost all pressure sensor manufacturers serve as automotive suppliers, the barrier to entry for prospective automotive suppliers is quite high.
Organizations, like Robert Bosch, have aggregated production volume of automotive, as well as consumer markets, to reduce cost and further increase its competitive advantage. Other players, like Infineon, Sensata, DENSO, and Melexis, are mainly focused on the automotive sector, with vertical integration being a common trend in the sector.
- In October 2020, Borg Warner completed the acquisition of one of the founding automotive MEMS sensor companies, Delphi Technologies. The company plans to get more balance results across light vehicles, commercial vehicles and the aftermarket.
- In April 2019, DENSO, the world's second-largest mobility supplier, announced an investment of USD 1.6 billion to strengthen development and production of Automotive Electrification Products and Systems. This has been done to support its aggressive development and production of electrified automotive products, systems, and technologies.
Automotive Pressure Sensors Market Leaders
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Honeywell International Inc.
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DENSO Corporation
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Robert Bosch GmbH
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ST Microelectronics NV
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Infineon Technologies AG
*Disclaimer: Major Players sorted in no particular order
Automotive Pressure Sensors Market News
- In January 2022, Superior Sensor Technology announced an extension to its ND Series with two new pressure sensor families for mid pressure range applications. The new ND Series mid pressure sensors support manufacturers of commercial, transportation, research and development, and manufacturing equipment.
- In September 2021, Renesas Electronics Corporation, a premier supplier of advanced semiconductor solutions, introduced the RAA2S425x Family of ICs for automotive pressure sensing systems. The new devices provide highly accurate amplification and sensor-specific correction of signals in automotive xEV/EV/FCEV pressure sensing braking, transmission and HVAC systems.
- In November 2020, Melexis, a global microelectronics engineering company, has unveiled the MLX91805 smart tire sensor to help OEMs prepare for the forthcoming extension of mandatory tire pressure monitoring to include commercial vehicles, and to enable future generations of smart tires. The MLX91805 is suited to tires for commercial vehicles, including heavy duty, and passenger cars.
Automotive Pressure Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Vehicle Type
5.1.1 Passenger Car
5.1.2 Light Commercial Vehicle
5.1.3 Medium and Heavy Commercial Vehicle
5.2 By Application
5.2.1 Tire Pressure Monitoring System
5.2.2 Brake Booster System
5.2.3 Engine Management System
5.2.4 Exhaust Gas Recirculation System
5.2.5 Air Bag System
5.2.6 Vehicle Dynamic Control
5.2.7 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 South Korea
5.3.3.5 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 South America
5.3.4.2 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 AUTOLIV INC
6.1.2 DENSO Corporation
6.1.3 Robert Bosch GmbH
6.1.4 Continental AG
6.1.5 ST Microelectronics NV
6.1.6 Infineon Technologies AG
6.1.7 Sensata Technologies Inc.
6.1.8 NXP Semiconductor NV
6.1.9 Allegro Microsystems, LLC
6.1.10 Texas Instruments Incorporated
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 Research 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.
Which is the fastest growing region in Automotive Pressure Sensors Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Pressure Sensors Market?
In 2024, the Asia Pacific accounts for the largest market share in Automotive Pressure Sensors Market.
What years does this Automotive Pressure Sensors Market cover?
The report covers the Automotive Pressure Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Pressure Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automotive Pressure Sensors Industry Report
Statistics for the 2024 Automotive Pressure Sensors market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Automotive Pressure Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Automotive Pressure Sensors Market Report Snapshots
