Pune, December 6, 2017
According a report titled "Automotive pressure sensor market by application (ABS, airbag, TPMS, engine, HVAC, and Transmission), technology (MEMS, strain gauge and ceramic), transduction (piezoresistive, capacitive, optical, resonant), vehicle, EV, and region – global forecast to 2025", which was published by Markets and Markets, the global market is projected to grow at a CAGR of 9.7 per cent from 2017 to 2025, to reach a market size of USD 8.84 Billion by 2025 from USD 4.21 Billion in 2017. The major factors driving the growth of the automotive pressure sensors markets are the increasing installation of advanced driver assistance systems (ADAS), stringent automotive safety and security norms introduced by the government and rising preference of vehicle electrification among OEMs and tier-1 suppliers.
The engine system, which includes the engine, exhaust, and fuel pumps, holds the largest share of the automotive pressure sensors market. With technological advancement in the architecture of engine control system, the installation of advanced pressure sensors is required for the efficient operation of the system. The application for engine control holds the largest market share as of 2017.
Micro electronic mechanical system (MEMS) sensors are one of the most lucrative innovations in the automotive semiconductor industry, owing to their cost-effectiveness and high reliability. MEMS pressure sensors serve manifold applications in the automotive industry, which include measuring manifold air pressure (MAP), fuel rail, fuel tank, and engine oil. As this technology caters the requirement of powertrain and safety systems of automotive industry, MEMS technology is expected to acquire the largest market for automotive pressure sensors.
The growth of the automotive pressure sensor market in the Asia Pacific region is expected to be driven by growing vehicle production, government regulations pertaining vehicle safety, rapid vehicle electrification, pressure sensors demand and supply equilibrium, and growing semiconductor industry. The governments in the Asia Pacific region are taking several initiatives to improve vehicle safety and are thus driving OEMs to increasingly install safety features in vehicles. Moreover, the booming production of electric vehicles in China is also driving the market for passive sensors like pressure sensors.
The report profiles the most promising players in the pressure sensors market. The market presents an interesting picture of a large number of big and small players that have become a force to reckon. The key players in this market are Infineon (Germany), Sensata (US), Robert Bosch (Germany), Denso (Japan), Delphi (UK), Texas Instruments (US), NXP (Netherlands), Analog Device (US), Melexis (Belgium), General Electric (US), and TE Connectivity (Switzerland).