ID: MRFR/AM/3476-HCR | February 2021 | Region: Global | 111 pages
The automotive pressure sensor market is expected to register a CAGR of almost 7%.
Automotive pressure sensor has been witnessing steady growth over a period of time. The boom in the automotive industry is expected to positively impact the automotive pressure sensor market. Increasing demand for safety features in automobiles, stringent government norms, and rapidly rising safety awareness among individuals, are some of the factors primarily driving the automotive pressure sensor market. Rapidly rising integration of advanced driver assistance systems in vehicles has provided a positive outlook to the automotive pressure sensor market. With the New Car Assessments Program awarding safety ratings based on vehicles safety performance, automotive manufacturers have been increasingly integrating automotive pressure sensor in vehicles. Earlier available only in premium vehicles, automobile manufacturers have started integrating these features in entry level vehicles and broaden their customer base thus propelling the demand in the automotive pressure sensor market. With the increasing popularity of vehicle electrification among individuals, the market for automotive pressure sensor, is expected to register high growth rate during the forecast period.
The market for automotive pressure sensor systems is expected to grow with an increase in demand for automobile, majorly in the U. S. There is an immense demand of commercial vehicles in the country. With the increase in demand of commercial vehicles, there has been an increase in demand for automotive pressure sensor market. The growth of the North America region is also driven by the presence of major automotive system manufacturers, which are mainly focusing on key developments such as expansion, mergers & acquisition, product launch and others. Existence of major manufacturers and availability of sophisticated technology in this region is expected to propel the demand in the automotive pressure sensor market during the forecast period. Owing to all these factors, the growth of the region is expected to grow at a rapid pace.
Due to the presence of most populous countries of the world such as China and India, the dominance of Asia Pacific becomes evident in the global automotive pressure sensor systems market value. Automotive Pressure Sensor systems market has been experiencing rapid growth in the last two years, owing to the rising sales of passenger cars, emerging economies, shift of global players and technological advancements, as they are giving the much needed thrust to the market. Rapid rise in vehicle production compliments the automotive pressure sensor market in this region. Another major reason behind Asia Pacific leading the global market is that the countries within this region were able to sustain its economy during the global economic crisis of 2008-09 and have been able to showcase continued growth in automobile production and sales, across the globe.
The key players of global automotive pressure sensor market are Infineon (Germany), Sensata (US), Robert Bosch (Germany), Denso (Japan), Delphi (UK), Texas Instruments (US), NXP (Netherlands), Analog Device (US), Melexis (Belgium), General Electric (US), and TE Connectivity (Switzerland). In 2016, these companies accounted for a share of XX% of the global market.
The report for Global Automotive Pressure Sensor Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: Significant Value|
|CAGR||7% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||nfineon (Germany), Sensata (US), Robert Bosch (Germany), Denso (Japan), Delphi (UK), Texas Instruments (US), NXP (Netherlands), Analog Device (US), Melexis (Belgium), General Electric (US), and TE Connectivity (Switzerland)|
|Key Market Opportunities||Rapidly rising integration|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The boom in the automotive industry is positively impact the automotive pressure sensor market.
The automotive pressure sensor market will be registering a CAGR of almost 7% in the forecast period.
The growth of the North America region for the market is driven by the presence of major automotive system manufacturers who are focusing on key developments such as expansion, mergers & acquisition, product launch.
Sensata (US), Infineon (Germany), Denso (Japan), Robert Bosch (Germany), Texas Instruments (US), Delphi (UK), NXP (Netherlands) are key competitors of the market influencing growth.
Asia Pacific is the region that is becoming evident in the global automotive pressure sensor systems in terms of market value.