Automotive Pressure Sensors Market - Growth, Trends, and Forecast (2019 - 2024)

The Automotive Pressure Sensors Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle, and Alternative Fuel Vehicle), Application (Tire Pressure Monitoring System, Brake Booster System, Engine Management System, Exhaust Gas Recirculation System, Air Bag System, Vehicle Dynamic Control), and Geography.

Market Snapshot

CAGR new
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

8.23%

Key Players:

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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).

By Vehicle Type
Passenger Car
Light Commercial Vehicle
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
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
Latin America
Mexico
Argentina
Brazil
Rest of Latin America
Middle East & Africa
Saudi Arabia
United Arab Emirates
South Africa
Rest of Middle East & Africa

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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.
Key Trends Graph

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Asia-Pacific Expected to Hold the Largest Market Share

  • 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.
  • Also, the Asia-Pacific region has been the largest contributor to the automotive industry’s growth over the past few years. 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.
Automotive pressure sensors Heat map

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Competitive Landscape

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. 

  • 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.
  • November 2018 - Infineon Technologies AG strengthened its long-term partnership with DENSO Corporation, a global supplier of advanced automotive technology, systems, and components, to bolster its automotive business.

Major Players

  1. Honeywell International Inc.
  2. DENSO Corporation
  3. Robert Bosch GmbH
  4. ST Microelectronics NV
  5. Infineon Technologies AG

* Complete list of players covered available in the table of contents below

Market concentration

Table of Contents

  1. 1. INTRODUCTION

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Focus on Passenger Safety

      2. 4.2.2 Miniaturization Leading to an Increased Range of Applications across the Industry

      3. 4.2.3 Stringent Government Regulation concerning Emissions and Safety

    3. 4.3 Market Restraints

      1. 4.3.1 Dynamic Emission Regulations

      2. 4.3.2 Fluctuating Raw Material Prices

    4. 4.4 Industry Value Chain / Supply Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vehicle Type

      1. 5.1.1 Passenger Car

      2. 5.1.2 Light Commercial Vehicle

      3. 5.1.3 Heavy Commercial Vehicle

    2. 5.2 By Application

      1. 5.2.1 Tire Pressure Monitoring System

      2. 5.2.2 Brake Booster System

      3. 5.2.3 Engine Management System

      4. 5.2.4 Exhaust Gas Recirculation System

      5. 5.2.5 Air Bag System

      6. 5.2.6 Vehicle Dynamic Control

      7. 5.2.7 Other Applications

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 India

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Mexico

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Brazil

        4. 5.3.4.4 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Honeywell International Inc.

      2. 6.1.2 DENSO Corporation

      3. 6.1.3 Robert Bosch GmbH

      4. 6.1.4 ST Microelectronics NV

      5. 6.1.5 Infineon Technologies AG

      6. 6.1.6 Sensata Technologies Inc.

      7. 6.1.7 NXP Semiconductor NV

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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