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Air Pressure Sensors Market 2024 - Top Manufactures, Growth Rate, Revenue And Forecast To 2033
Air Pressure Sensors Market
As per the report, the air pressure sensors market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The air pressure sensors market size is expected to see strong growth in the next few years. It will grow to $24.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
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The Expanding Automotive Sector Drives Growth In The Air Pressure Sensors Market
The growing automotive sector is expected to propel the growth of the air pressure sensors market going forward. The automotive sector refers to the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, buses, motorcycles, and other types of vehicles. The automotive sector is expanding due to improved economic conditions, government incentives and regulations, consumer preferences and lifestyle changes, innovation, and competition. Air pressure sensors are used in the automotive sector to monitor and regulate tire pressure, engine performance, and airbag deployment systems for enhanced safety and efficiency. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Therefore, the growing automotive sector is driving the growth of the air pressure sensors market.
Innovative Developments In Barometric Air Pressure Sensors
Major companies operating in the air pressure sensors market are increasing their focus on developing innovative products, such as barometric air pressure sensors, to meet the growing demand for precise and reliable pressure measurements. Barometric air pressure sensors are devices that measure the atmospheric pressure. These sensors convert the atmospheric pressure into an electrical signal, which can then be used by different systems for monitoring and control purposes. For instance, in June 2023, Infineon Technologies AG, a Germany-based semiconductor manufacturing company, launched two new XENSIV barometric air pressure sensors. These sensors are specifically designed for engine management and pneumatic seat systems, aiming to provide accurate and reliable measurements for improved performance and efficiency in automotive applications. Leveraging Infineon's expertise in sensor technology, these new offerings are expected to contribute to the advancement of engine management and pneumatic seat systems, enhancing functionality and user experiences.
The air pressure sensors market covered in this report is segmented -
1) By Type: Absolute Air Pressure Sensor, Differential Air Pressure Sensor, Gauge Air Pressure Sensor
2) By Sensor Type: Wired Sensors, Wireless Sensors
3) By Technology: Piezoresistive, Capacitive, Electromagnetic, Resonant Solid-State, Optical, Other Technologies
4) By End-User: Automotive, Aerospace And Defense, Manufacturing, Medical, Other End-Users
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Major companies operating in the air pressure sensors market are Siemens AG, General Electric Company, Panasonic Corporation, Denso Corporation, Continental AG, Schneider Electric SE, Honeywell International Inc., Texas Instruments Incorporated, TE Connectivity Ltd., STMicroelectronics, Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Amphenol Corporation, Analog Devices Inc., Autoliv Inc., Alps Alpine Co. Ltd., Omron Corporation, Ametek Inc., Sensata Technologies, Keller America Inc., Curtiss-Wright Corporation, Bourns Inc., First Sensor AG, Memsic Inc., Bosch Sensortec GmbH, E+E Elektronik, Delphi Technologies, BD|SENSORS GmbH
Contents of the report:
1. Executive Summary
2. Air Pressure Sensors Market Report Structure
3. Air Pressure Sensors Market Trends And Strategies
4. Air Pressure Sensors Market - Macro Economic Scenario
5. Air Pressure Sensors Market Size And Growth
…..
27. Air Pressure Sensors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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