Mexico Pressure Sensors Market Size
| 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
*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 Market Trends
This section covers the major market trends shaping the Mexico Pressure Sensors Market according to our research experts:
Automotive Industry to Show Significant Growth
- Mexico is the sixth-largest global passenger vehicle manufacturer, producing approximately three million vehicles annually. 89% of vehicles produced in Mexico are exported, with 80% destined for the United States. Established automakers in Mexico include Audi, Baic Group, BMW, Stellantis (made up of FCA and PSA Group), Ford, General Motors, Honda, Kia, Mazda, Nissan, Toyota, and Volkswagen.
- Moreover, Mexico is the sixth-largest manufacturer of heavy-duty vehicles for cargo, with 14 manufacturers and assemblers of buses, trucks, tractor trucks, and engines through 11 manufacturing plants, supporting 18,500 jobs nationwide. Mexico is the leading global exporter of tractor trucks, exporting 94.5% of its production to the United States. Such a manufacturing hub with major export to the United States increases the application of pressure sensors in the country.
- Further, in October 2021, a new rail-linked vehicle distribution center (VDC) was installed in the central Bajío region, which would further benefit the carmakers in Mexico. The terminal’s initial storage capacity will be between 1,000 and 2,000 vehicles but will grow to 10,000 units as the market requires, according to TDG. This would further increase the demand for pressure sensors in the automotive industry.
Oil and Gas to Hold the Highest Market Share
- Mexico is one of the largest oil producers in the world (1.9 million barrels produced daily in 2020) and the fourth-largest in the Americas after the United States, Canada, and Brazil. In 2020, Mexico ranked 13th globally in crude oil production, 21st in crude oil reserves, 16th in refined capacity, and 5th in logistics infrastructure. This suggests the extensive application of pressure sensors in the region.
- Further, The Mexican Government has repeatedly emphasized its efforts to strengthen Pemex. In February 2021, for example, Mexico granted new fiscal support worth USD 3.5 billion to strengthen the oil company’s finances. Completion of a new USD 8 billion refineries at the Port of Dos Bocas in the State of Tabasco, started in 2019 and upgrading six existing refineries remain top priorities for Pemex and the Mexican Government.
- The opening of the upstream oil and gas market will provide opportunities to sell technology and services to private contractors and Pemex. Equipment and services with greater demand include high pressure/high volume pumps, hydraulic submersible pumps; filter pots; Baur pipe; pressure sensors, and field gathering lines.
Mexico Pressure Sensors Industry Overview
The Mexico Pressure Sensor market is highly concentrated and consists of a few major players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable packaging, many companies are increasing their market presence by securing new contracts and tapping new markets.
- September 2021 - The country provides quality drinking water to the citizens and has installed IoT-enabled devices to monitor and control the quality of water flowing through the pipes. AI and Machine Learning are being used to create predictive models for the efficient drinking water supply across the network. They have installed IoT-enabled sensors and focused on measuring three primary attributes of the water system: volume, pressure, and flow. With this IoT-enabled platform, data teams collected first-hand data regarding water availability in the different drinking fountains, pipes, and water tanks around the country.
Mexico Pressure Sensors Market Leaders
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ABB LIMITED
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BOSCH SENSORTEC GMBH
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GE MEASUREMENT & CONTROL
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HONEYWELL INTERNATIONAL INC.
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SCHNEIDER ELECTRIC SE
*Disclaimer: Major Players sorted in no particular order
Mexico Pressure Sensors Market News
- April 2021 - Research is being conducted with the help of the Internet of Things (IoT)-based wireless sensor network for hydrometeorological data collection and flood monitoring for the urban area of Colima-Villa de Álvarez in Mexico. The weather station node retrieves information from the commercial multisensory Atmos 41, which includes 12 weather sensors, solar radiation, precipitation, vapor pressure, relative humidity, among others.
- July 2021 - The Nobel Prize in Physiology or Medicine 2021 was awarded jointly to David Julius and Ardem Patapoutian for their discoveries of receptors for temperature and touch. Ardem Patapoutian used pressure-sensitive cells to discover a novel class of sensors that respond to mechanical stimuli in the skin and internal organs.
Mexico Pressure Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Assessment of Impact of COVID-19 on the Industry
4.3 Market Drivers
4.3.1 Growth Of End-user Verticals, such as Automotive and Healthcare
4.3.2 Increasing Adoption of MEMS and NEMS Systems in the Industry
4.4 Market Restraints
4.4.1 High Costs Associated with Sensing Products
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Automotive (Tire Pressure, Break Fluid Pressure, Vapor Pressure in Fuel Tank, Fuel Injection and CDRi, and Manifold Absolute Pressure among others)
5.1.2 Medical (Continuous Positive Airway Pressure (CPAP), Ventilators and Inhalers, and Blood Pressure Monitoring, Among Others)
5.1.3 Consumer Electronics
5.1.4 Industrial
5.1.5 Aerospace and Defence
5.1.6 Food and Beverage
5.1.7 HVAC
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd
6.1.2 All Sensors Corporation
6.1.3 Bosch Sensortec GmbH
6.1.4 Endress+Hauser AG
6.1.5 GMS Instruments BV
6.1.6 Honeywell International Inc.
6.1.7 Invensys Ltd
6.1.8 Kistler Group
6.1.9 Rockwell Automation Inc.
6.1.10 Rosemount Inc. (Emerson Electric Company)
6.1.11 Sensata Technologies Inc.
6.1.12 Siemens AG
6.1.13 Yokogawa Corporation
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
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 |
Mexico Pressure Sensors Market Research FAQs
What is the current Mexico Pressure Sensor Market size?
The Mexico Pressure Sensor Market is projected to register a CAGR of 6.15% during the forecast period (2024-2029)
Who are the key players in Mexico Pressure Sensor Market?
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.
What years does this Mexico Pressure Sensor Market cover?
The report covers the Mexico Pressure Sensor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Pressure Sensor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Pressure Sensor Industry Report
Statistics for the 2024 Mexico Pressure Sensor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Pressure Sensor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
