Automotive Pressure Sensor Market Report 2024

The automotive pressure sensor market size has grown strongly in recent years. It will grow from $11.09 billion in 2023 to $11.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historic period can be attributed to several factors, including rising vehicle production, stricter emission regulations, increasing demand for fuel-efficient vehicles, heightened awareness of vehicle maintenance, and growing disposable incomes.

The automotive pressure sensor market size is expected to see strong growth in the next few years. It will grow to $15.7 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. In the forecast period, growth is expected to be driven by the ongoing expansion of electric and hybrid vehicles, increasing demand for connected car technologies, heightened emphasis on vehicle electrification, growing governmental initiatives promoting smart transportation, and rising consumer demand for enhanced safety features. Key trends anticipated in this period include the advancement of miniaturized and multifunctional sensors, integration of pressure sensors with telematics systems, greater incorporation of advanced driver-assistance systems (ADAS), progress in sensor fusion technologies, and the growing integration of sensors in autonomous vehicles.

The automotive pressure sensor market is set to expand due to the growing demand for electric vehicles. These vehicles are powered by electric motors and rely on rechargeable batteries or other energy storage systems for propulsion. Factors propelling the increased adoption of electric vehicles include stringent emission regulations, advancements in battery technology, heightened environmental consciousness, government incentives, and rising fuel prices. Automotive pressure sensors play a crucial role in supporting electric vehicles by optimizing the operation of critical systems such as battery management, tire pressure monitoring, and cooling systems. This enhances overall performance, safety, and reliability. In April 2024, data from the International Energy Agency revealed a significant global increase in electric car registrations, totaling nearly 14 million new vehicles in 2023. This closely aligned with forecasts from the 2023 Global EV Outlook and represented a 35% year-on-year rise, equating to 3.5 million more sales compared to 2022. This robust growth underscores how the burgeoning demand for electric vehicles is driving expansion in the automotive pressure sensor market.

Leading companies in the automotive pressure sensor market are focusing on innovative products such as tire pressure sensors to improve vehicle safety and performance. These sensors monitor and transmit real-time tire pressure data to drivers, ensuring optimal tire performance and safety. For example, in September 2023, Infineon Technologies AG, a German automotive semiconductor manufacturer, introduced the XENSIV SP49 tire pressure monitoring sensor. This product marks a significant technological advancement in the automotive pressure sensor industry. It integrates Microelectromechanical Systems (MEMS) sensors and an Application-Specific Integrated Circuit (ASIC) to enable smart tire functionalities such as on-tire auto-position sensing, assistance with tire inflation, blowout detection, and load identification. These capabilities are supported by a powerful 32-bit Arm M0+ core, large flash memory, and enhanced acceleration sensing capabilities.

In April 2021, Sensata Technologies, a US-based technology firm specializing in automotive pressure sensors, acquired Xirgo Technologies for $0.40 billion. This acquisition enhances Sensata's market position by bolstering its Smart & Connected growth initiative. It expands their capabilities in data insights, broadens their market reach, and adds valuable expertise in telematics. Xirgo Technologies, based in the US, is renowned for its wireless IoT communication devices and platforms, including solutions for automotive pressure sensor technology.

Major companies operating in the automotive pressure sensor market are 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, Gp50.

Asia-Pacific was the largest region in the automotive pressure sensor market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive pressure sensor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the automotive pressure sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An automotive pressure sensor serves to measure pressure within various systems of a vehicle, such as the engine, transmission, fuel system, or braking system. It transforms the physical pressure applied to it into an electrical signal that can be interpreted and utilized by the vehicle's electronic control unit (ECU) or other monitoring systems. These sensors play a crucial role in ensuring optimal performance, efficiency, and safety in automotive operations by delivering real-time pressure data.

The automotive pressure sensor market is categorized by technology, including piezoelectric, capacitive, optical, electromagnetic, resonant, and other technologies. Segmentation by fuel type encompasses petrol, diesel, electric, hybrid, and other fuel types. Vehicle types are divided into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Applications range from heating ventilation and air conditioning (HVAC) pressure sensors, fuel pressure sensors, oil pressure sensors, manifold pressure sensors, tire pressure monitoring sensors, to airbag systems, engine control systems, power steering, transmission, antilock braking systems (ABS), and other applications. Additionally, the market is segmented by sales channel into original equipment manufacturer (OEM) and aftermarket.

The automotive pressure sensor market research report is one of a series of new reports that provides automotive pressure sensor market statistics, including automotive pressure sensor industry global market size, regional shares, competitors with a automotive pressure sensor market share, detailed automotive pressure sensor market segments, market trends and opportunities, and any further data you may need to thrive in the automotive pressure sensor industry. This automotive pressure sensor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The automotive pressure sensor market consists of sales of manifold Absolute Pressure (MAP) sensors, tire pressure monitoring sensors (TPMS), and fuel pressure sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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