“Robust Growth of MEMS Technology is driving the market for automotive pressure sensors”
The global automotive pressure sensors market is estimated to be USD 4.21 billion in 2017 and is projected to reach USD 8.84 billion by 2025, at a CAGR of 9.70%. MEMS-based sensors have proved to be the perfect solution in the field of automotive, where there is a growing need for smaller form factor for sensors with improved performance. Hence, the MEMS technology plays a pivotal role in downsizing the structure of automotive pressure sensors. Today’s top-end vehicles constitute up to 100 different types of sensors, of which 30 would be MEMS sensors. Pressure sensors acquire the largest part of MEMS sensors for automotive applications. A complex manufacturing process and reliability of the product can hinder the growth of the market.
“Piezoresistive pressure sensors is estimated to hold the largest market share in terms of transduction type in 2017”
The technological evolution of the automotive semiconductor industry is revolving around piezoelectric automotive applications. The demand for higher fuel efficiency and better safety features with tech-savvy semiconductor components would, in turn, increase the demand for piezoresistive materials and components. Hence, technological advancement would create a plethora of opportunities for manufacturers of components like pressure sensors to attain a high level of efficiency and robustness.
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“HEV market of pressure sensors is estimated to experience the highest growth rate during the forecast period”
The pressure sensors market for hybrid electric vehicles (HEV) is estimated to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the engine structure of the vehicle, which combines a conventional internal combustion engine (ICE) system with an electric propulsion system. Due to the presence of IC engine, which has the maximum installation rate of pressure sensors, this segment of the electric vehicle is estimated to experience the highest growth rate during the forecast period.
“Asia Pacific is estimated to be the fastest growing automotive pressure sensors market”
The automotive pressure sensors market for Asia Pacific is estimated to grow at the highest CAGR during the forecast period. High volume markets with increased demand for high-end electronic and safety features in passenger cars make Asia Pacific the largest and fastest growing market for automotive pressure sensors. Also, the upcoming safety legislation in developing countries will further drive the market growth in the region.
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The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
• By Company Type – Tier 1 – 50%, Tier 2 – 33%, Others – 17%
• By Designation – C level – 45%, D level – 35%, Others – 20%
• By Region – North America – 22%, Europe – 45%, Asia Pacific – 20%, Rest of the World – 13%
Major players profiled in the report are:
• Robert Bosch (Germany)
• Continental (Germany)
• Denso (Japan)
• Delphi (UK)
• Sensata (US)
• Analog Devices (US)
• Infineon Technologies (Germany)
• NXP Semiconductors (Netherlands)
• Texas Instruments (US)
• Melexis (Belgium)
• General Electric (US)
• TE Connectivity (Switzerland)
Research Coverage:
The report segments the automotive pressure sensors market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), application (ABS, Airbags, Direct TPMS, Engine Control System, HVAC, Power Steering, and Transmission), electric vehicle type (BEV, HEV, PHEV, and FCEV), vehicle type (passenger cars and commercial vehicles), technology (MEMS, strain gauge, and ceramic), and transduction type (piezoresistive, capacitive, optical, resonant, and others).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the global automotive pressure sensors market. Apart from analyzing the quantitative aspects, the report also covers qualitative aspects such as macroeconomic analysis for the global automotive pressure sensors market.
Reasons to Buy the Report:
The report provides insights into the following points:
• Market Penetration: The report provides comprehensive information about the automotive pressure sensors market and the top 12 players in the market.
• Product Development/Innovation: The report gives detailed insights into upcoming technologies, R&D activities, and new product launches in the automotive pressure sensors market.
• Market Development: The report provides comprehensive information about pressure sensors. The report analyzes the automotive pressure sensors market across regions.
• Market Diversification: The report provides exhaustive information about new products, untapped regional markets, recent developments, and investments in the automotive pressure sensors market.
Related Report: Automotive Sensors Market by Type (Temperature Pressure Position Oxygen NOx Speed Inertial Image) Application (Powertrain Chassis Exhaust Body Electronics Safety & Control Telematics) Vehicle Type and Geography - Global Forecast to 2023
The automotive sensors market was valued at USD 22.94 billion in 2016 and is expected to reach USD 36.42 billion by 2023, at a CAGR of 6.71% between 2017 and 2023. The growth of the automotive sensors market is driven by the factors such as increasing motor vehicle production worldwide, increasing vehicle electrification, stringent government regulations, and growing consumer demand for sensors for the convenience and comfort. With the increase in concern over greenhouse gases emissions, fuel economy and emission norms are becoming stringent in many parts of the world. Automotive manufacturers are facing pressure to use advanced technology to reduce the emission and increasing fuel economy to reduce the carbon footprint. Automotive sensors are playing a crucial role in containing themselves in the regulation limits, and thereby helping the market to grow.
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