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The automotive pressure sensors market size has the potential to grow by USD 614.21 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by end-user (passenger vehicles and commercial vehicles) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Continental AG, Delphi Technologies, DENSO Corp., Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors NV, Robert Bosch GmbH, Sensata Technologies Inc., TE Connectivity Ltd., and Texas Instruments Inc.
The market is fragmented with the presence of many prominent players. The products in the global automotive pressure sensors market are majorly differentiated based on the quality, regulatory control, and innovation during the forecast period. The vendors are opting for both organic and inorganic growth strategies to expand market share. NXP Semiconductors NV, Robert Bosch GmbH, Sensata Technologies Inc., TE Connectivity Ltd., and Texas Instruments Inc are some of the major market participants. Although the growing demand for automobiles will offer immense growth opportunities, the shift from internal combustion engine vehicles to battery electric vehicles will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this automotive pressure sensors market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this automotive pressure sensors market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
APAC was the largest automotive pressure sensors market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing disposable income and the subsequent increase in vehicle adoption in emerging economies such as India and the booming production of electric vehicles in China will significantly influence automotive pressure sensors market growth in this region.
Almost 56% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for automotive pressure sensors in APAC. Market growth in this region will be slower than the growth of the market in North America and MEA.
The increasing demand for passenger vehicles in emerging countries owing to significant economic growth and the rising adoption of advanced automotive technologies such as TPMS, ABS, ESC, and airbags in the passenger vehicle segment are expected to drive the market segment growth.
Automotive pressure sensors market share growth by the passenger vehicles segment will be slower than the growth of the market by the commercial vehicles segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the automotive pressure sensors market size.
The global automobile market has grown considerably in recent years. This industry’s growth in APAC is expected to be significant in the next few years because of factors such as the low automotive penetration when compared with other regions, growing disposable incomes, and subsequent increase in the adoption of vehicles in these emerging economies. Growing environmental and safety concerns due to the increasing vehicle numbers are forcing governments to impose stringent vehicle emission and safety norms in the developed regions. This has resulted in an increased number of automobiles equipped with various safety systems such as EGR, ABS, and airbags, which require pressure sensors for functioning. Hence, the growing demand for automobiles will positively impact the automotive pressure sensors market growth during the predicted period. The automotive pressure sensors market is expected to grow at a CAGR of over 4% during 2020-2024.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Customer landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
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