Press release
Top Players and Industry Competition in the Automotive Pressure Sensor Market
Automotive Pressure Sensor
Projected Market Size and Growth Trajectory of the Automotive Pressure Sensor Market
The market for automotive pressure sensors is anticipated to grow steadily, reaching a valuation of $16.06 billion by 2029. This reflects a compound annual growth rate (CAGR) of 6.2%. Several factors contribute to this growth, including the rising adoption of electric and hybrid vehicles, increased integration of connected car technologies, a stronger emphasis on vehicle electrification, expanding government initiatives promoting smart transportation, and heightened demand for advanced safety features. Key market trends expected during this period include the development of smaller, multifunctional sensors, the merging of pressure sensors with telematics systems, greater adoption of advanced driver-assistance systems (ADAS), improvements in sensor fusion technologies, and a surge in sensor usage within autonomous vehicles.
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Top Companies Driving the Automotive Pressure Sensor Market Forward
The automotive pressure sensor market features several prominent players shaping its future. These include Robert Bosch, Siemens AG, General Electric, DENSO Corporation, Continental AG, Honeywell, ABB, Texas Instruments Incorporated, TE Connectivity, ST Microelectronics, Infineon, NXP Semiconductors, Amphenol Corporation, Analog Devices, Sensata Technologies, Allegro Microsystems LLC, CTS Corporation, Elmos Semiconductor, Delphi Technologies, and Gp50.
A significant development occurred in November 2023 when Millar Inc., a US-based manufacturer specializing in pressure sensor-enabled medical devices, acquired Sentron, a Netherlands-based company that produces fully integrated pressure and pH sensors. This acquisition opens new avenues for innovation and global market expansion for both firms.
Evolving Trends Shaping the Future of Automotive Pressure Sensors
Automotive leaders are increasingly focusing on innovative products such as tire pressure sensors, which contribute to vehicle safety and performance by offering real-time monitoring and alerts. These sensors help prevent accidents and enhance fuel efficiency by maintaining optimal tire performance.
For example, in September 2023, Infineon Technologies AG from Germany introduced the XENSIV SP49 tire pressure monitoring sensor. This device integrates Microelectromechanical Systems (MEMS) sensors with an Application-Specific Integrated Circuit (ASIC) to provide advanced tire functionalities, including automatic tire position sensing, assistance with inflation, blowout detection, and load identification. It achieves these capabilities thanks to a powerful 32-bit Arm M0+ core, large flash memory, and optimized acceleration sensing.
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Key Segmentation in the Global Automotive Pressure Sensor Market
The automotive pressure sensor market is categorized into several important segments for detailed analysis:
1) Technology: Piezoelectric, Capacitive, Optical, Electromagnetic, Resonant, and Other Technologies
2) Fuel Type: Petrol, Diesel, Electric, Hybrid, and Other Fuel Types
3) Vehicle Type: Passenger Vehicles, Light Commercial Vehicles (LCV), and Heavy Commercial Vehicles (HCV)
4) Application: Sensors for HVAC pressure, fuel pressure, oil pressure, manifold pressure, tire pressure monitoring, airbag systems, engine control, power steering, transmission, anti-lock braking systems (ABS), among others
5) Sales Channel: Original Equipment Manufacturer (OEM) and Aftermarket
Further subsegments break down the technologies more specifically:
- Piezoelectric sensors include high-pressure, low-pressure, dynamic pressure, and differential pressure sensors
- Capacitive sensors cover differential, absolute, gauge, and microcapacitive types
- Optical sensors involve fiber optic, Fabry-Perot interferometric, and optical fiber Bragg grating sensors
- Electromagnetic sensors consist of inductive, magnetostrictive, and eddy current types
- Resonant technologies include surface acoustic wave (SAW), quartz crystal resonance, and resonant MEMS sensors
- Other technologies include strain gauge, piezoresistive, optical MEMS, microelectromechanical systems (MEMS)-based sensors, and capacitive MEMS pressure sensors
Together, these segments provide a comprehensive framework for understanding the varied technologies, applications, and market approaches defining the automotive pressure sensor industry today.
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