Market Overview

The global automotive pressure sensors market was valued at USD 4.3 billion in 2018, and it is expected to reach a value of USD 6.91 billion by 2024, registering a CAGR of about 8.23% during the forecast period (2019-2024). As the automotive industry moves to adhere to the global environmental regulations in Europe, North America, Asia, and elsewhere, the industry is promoting efforts to boost efficiency and achieve higher control accuracy of an engine system.

• Moreover, due to increase in pressure sensor applications, such as the use of a barometric pressure sensor to perform altitude correction when driving at high altitudes, pressure sensors are used in automotive to achieve high accuracy at a low price.
• Factors, such as the increasing focus on passenger safety, miniaturization leading to an increased range of applications across the industry, stringent government regulations concerning emissions, and security owing to the increasing number of vehicles, are majorly driving the automotive pressure sensors market.
• Additionally, the automotive industry is the biggest and the oldest market for pressure sensors. Therefore, powertrain applications account for more than 50% of the pressure sensors business, followed by safety, with tire pressure monitoring systems (TPMS) being the most significant single automotive application.

Scope of the Report

Automotive pressure sensors are used in three types of vehicle types: passenger cars, light commercial vehicles, heavy commercial vehicles. The report is further segmented by application (tire pressure monitoring systems, brake booster systems, engine management systems, exhaust gas recirculation systems, air bag systems, and vehicle dynamic control).

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Key Market Trends

Tire Pressure Monitoring Systems (TPMS) Expected to be the Most Significant Application

• TPMS utilizes pressure monitoring sensors within each tire that monitor specific pressure levels and send the data to the centralized control module. TPMS was mandated in the United States and the European Union, in 2007 and 2014 respectively. The law came about as a result of over 100 deaths in the late 1990s, which were attributed to vehicles running with underinflated tires. There are two types of TPMS, direct (dTPMS) and indirect (iTPMS).
• 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. High tire temperatures can indicate an excess of friction caused by misalignment of the wheels, which can also contribute to early tire wear and less safe driving. Hence, safety awareness among individuals is another factor driving the increased adoption of TPMS.
• Several manufacturers are manufacturing TPMS, based on Bluetooth Low Energy (BLE) communication standards. BLE helps in cutting down on development, qualification, and logistical costs while allowing over-the-air firmware updates and other general maintenance that would otherwise not be possible. BLE ensures that TPMS sensors are constantly kept up-to-date, secured, and optimized.
• In Europe, the European Tyre and Rubber Manufacturers' Association recently praised the European Parliament committee for endorsing revised European Union tire pressure monitoring systems rules. The regulation updates existing vehicle safety rules to extend TPMS requirements to light and heavy commercial vehicles, trailers, and buses.

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