Global Automotive Pressure Sensors Market Forecast to 2025: Rapid Installation of Electronic Components in Automobiles & Robust Growth of MEMs Technology
DUBLIN, Dec. 18, 2017 /PRNewswire/ --
The "Automotive Pressure Sensors Market - Global Forecast to 2025" report has been added to Research and Markets' offering.
The global automotive pressure sensors market is estimated to be USD 4.21 Billion in 2017 and is projected to grow to USD 8.84 Billion by 2025, at a CAGR of 9.70%.
The automotive pressure sensors are typically used to gauge the pressure of liquid and gases in a vehicle. Hence, they can be used in many systems of a vehicle. The automotive pressure sensors market is segmented by application into the transmission, engine control system, power steering, HVAC, airbags, ABS, and direct TPMS. The engine control system is estimated to hold the largest share of the automotive pressure sensors market, by application. Automotive pressure sensors for the engine control system are used in the engine, fuel injection pump, and exhaust.
ABS is estimated to be the fastest growing market for automotive pressure sensors, by application. Factors contributing to the growth of this segment include the mandates related to safety and security features. For example, the mandatory installation of ABS in passenger cars from 2018 in India can boost the market for automotive pressure sensors.
By technology, the market for MEMS pressure sensors is estimated to experience the highest growth during the forecast period. With the advent of the era of advanced technologies, the use of advanced MEMS pressure sensors has increased. The MEMS pressure sensors are widely used in all major advanced applications of electric as well as conventional vehicles.
By electric vehicle type, HEV is estimated to hold the largest share of the automotive pressure sensors market during the forecast period. The market growth can be attributed to the high level of production of HEVs during the forecast period. Also, the higher installation rate of pressure sensors in its powertrain system, as compared to BEV and FCEV, has triggered the growth of the market.
Asia Pacific is estimated to lead the automotive pressure sensors market during the forecast period, followed by North America and Europe. The European market is estimated to grow at a steady pace as most of the vehicles are equipped with high-end electronics and safety features. The North American market is expected to experience a balanced growth, in terms of value and volume, as pressure sensors have gained popularity in the region. The existing vehicles in North America are equipped with advanced safety features and body electronics, which serve the majority of the market.
The global automotive pressure sensors market is dominated by a few players such as NXP (Netherlands), Infineon Technologies (Germany), Sensata (US), and Texas Instruments (US) along with tier I and tier II suppliers.
Market Dynamics
Drivers
- Rapid Installation of Electronic Components in Automobiles
- Robust Growth of MEMs Technology
Restraints
- Offering Desired Reliability and Curbing Down Operation Failure
- Complex Manufacturing Process and High Cycle Time
Opportunities
- Growing Demand for Piezoelectric Automotive Applications
- Emergence of Fusion Box Technology
Challenges
- Maintaining Cost Effectiveness
- Meeting Automotive Certifications, Requirements, and Environment Compliances
Companies Mentioned
- Analog Devices
- Continental
- Delphi
- Denso
- General Electric
- Infineon
- Melexis
- NXP
- Robert Bosch
- Sensata
- TE Connectivity
- Texas Instruments
For more information about this report visit https://www.researchandmarkets.com/research/hwwb8j/global_automotive?w=5
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