The Automotive Pressure Sensor Market was valued at USD 7.4 billion in 2023, and it is anticipated to reach a global market valuation of USD 22.6 billion by 2034, growing at a steady CAGR of 10.4% from 2024 to 2034.
One distinct factor propelling the automotive pressure sensor market is the growing incorporation of sensors in innovative vehicle categories, such connected and autonomous vehicles.
These vehicles need comprehensive sensor networks, including pressure sensors, to allow advanced functions such as autonomous driving as well as vehicle-to-vehicle communication, which increases demand for pressure sensor solutions in these markets.
Sales Analysis of Automotive Pressure Sensors
| Report Attribute | Details |
|---|---|
| Estimated Market Value in 2023 | USD 7.4 billion |
| Expected Market Value in 2024 | USD 8.3 billion |
| Projected Forecast Value in 2034 | USD 22.6 billion |
| Anticipated Growth Rate from 2024 to 2034 | 10.4% CAGR |
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The global demand for the automotive pressure sensor market was estimated to reach a valuation of USD 4.4 billion in 2019, according to a report from Future Market Insights (FMI). From 2019 to 2023, sales witnessed significant growth in the automotive pressure sensor market, registering a CAGR of 14.2%.
| Historical CAGR from 2019 to 2023 | 14.2% |
|---|---|
| Forecast CAGR from 2024 to 2034 | 10.4% |
Innovation and demand come together to propel impressive growth in a thriving market such as the automotive pressure sensor market.
The need for pressure sensor solutions in the automotive sector is driven by the critical role pressure sensors play in ADAS applications such as tire pressure monitoring systems (TPMS) as well as brake pressure sensing, which improve vehicle safety.
Some important factors that will boost the market growth through 2034 are:
Rapid Expansion of Electric Vehicles to Enhance Demand
The rapidly growing electric vehicle (EV) industry is another factor propelling the automotive pressure sensor market. Pressure sensors are becoming more and more necessary to keep an eye on electric vehicle cooling systems, battery systems, and other vital parts as demand for EVs rises worldwide.
The need for advanced pressure sensor solutions is being driven by the spike in EV usage, which is propelling market expansion in the automotive industry.
Increased Focus on Vehicle Safety to bolster demand globally
The growing emphasis on driving safety and legal compliance is one of the key factors propelling the automotive pressure sensor market. The integration of innovative safety technologies into vehicles is a top priority for manufacturers due to the severe safety standards in place globally and the rising concern over road accidents.
Pressure sensors are essential for maintaining compliance with safety regulations and improving overall vehicle safety, which propels market growth. Examples of these key systems to monitor include tire pressure, engine performance, and brake systems.
Economic Uncertainties and Fluctuating Raw Material Prices to Impede the Market Growth
Market expansion is constrained by manufacturing costs that are impacted by economic concerns and volatile raw material prices. Manufacturers face difficulties in integrating sensors into current automotive systems due to their complexity, which delays acceptance.
Since manufacturers emphasize choosing sensors that fulfill strict quality standards and regulatory criteria to assure vehicle safety and performance, concerns about sensor accuracy, durability, and dependability impede market growth.
This section focuses on providing detailed analysis of two particular market segments for automotive pressure sensors, the dominant technology type and the significant vehicle type. The two main segments discussed below are micro-electro mechanical systems and passenger vehicles.
| Technology | Micro-Electro Mechanical System (MEMS) |
|---|---|
| CAGR from 2024 to 2034 | 10.3% |
During the forecast period, the micro-electro mechanical system segment is likely to garner a 10.3% CAGR. Micro-Electro Mechanical System (MEMS) pressure sensors are gaining popularity in the automotive pressure sensor market owing to its small size, low power consumption, and excellent accuracy.
MEMS sensors provide a space-saving option without sacrificing performance as automakers look to fit more sensors into ever smaller places. Their market acceptance is further fueled by their resilience to challenging operating environments and capacity to deliver real-time data, which makes them perfect for automotive applications.
| Vehicle Type | Passenger Vehicles |
|---|---|
| Market Share in 2024 | 51% |
In 2024, the passenger vehicles segment is likely to acquire a 51% global market share. Several reasons are driving the growth of the passenger vehicle segment in the global automotive pressure sensor market.
Pressure sensors are being incorporated into passenger vehicles to improve safety and lower accident rates in response to growing customer demand for safety features like tire pressure monitoring systems (TPMS).
The need for pressure sensors in passenger vehicles is further driven by the growing electrification of vehicles and the deployment of advanced driver assistance systems (ADAS), which boosts market growth.
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This section will go into detail on the automotive pressure sensor markets in a few key countries, including the United States, the United Kingdom, China, Japan, and South Korea. This part will focus on the primary factors that are driving up demand in these countries for automotive pressure sensors.
| Countries | Forecast CAGRs from 2024 to 2034 |
|---|---|
| The United States | 10.8% |
| The United Kingdom | 29% |
| China | 28% |
| Japan | 28.2% |
| South Korea | 29.2% |
The United States automotive pressure sensor is anticipated to gain a CAGR of 10.8% through 2034. The United States is a powerhouse for technological advancement in the automotive industry, with corporations investing extensively in research and development.
This dedication propels sensor technology forward, resulting in the creation of high-performance pressure sensors for a range of automotive applications.
The performance and emissions of vehicles are subject to strict safety rules in the United States. The automotive sector is experiencing a surge in demand for sophisticated pressure sensor solutions considering the significant role pressure sensors play in guaranteeing adherence to these requirements. These sensors monitor vital systems like tire pressure and brake function.
The market in the United Kingdom is expected to expand with an 11.7% CAGR through 2034. The United Kingdom's commitment to lowering carbon emissions and promoting sustainable transportation boosts the need for pressure sensors for electric and hybrid vehicles.
This emphasis on environmental sustainability encourages sensor technology innovation to improve performance and efficiency.
The United Kingdom possesses a strong automotive research and development industry that propels breakthroughs in sensor technology and pressure sensor systems for automobiles.
Collaborations between industry and researchers help to create innovative sensor technology, establishing the United Kingdom as a major participant in the automotive pressure sensor market.
The automotive pressure sensor ecosystem in China is anticipated to develop with a 10.9% CAGR from 2024 to 2034. The automotive market in China has grown at an exponential rate, taking the lead in the world economy.
This growth increases the need for pressure sensors, which are used in both conventional and electric vehicles to monitor various vehicle systems.
The Chinese government proactively encourages the use of electric vehicles as a means of mitigating pollution and lowering emissions.
The automotive pressure sensor market is growing as a result of this strategy, which encourages investment in innovative sensor technologies to assist electric vehicle systems, such as battery monitoring as well as thermal management.
The automotive pressure sensor industry in Japan is anticipated to reach an 11.9% CAGR from 2024 to 2034. Japan is well known for its technological innovations in the production of automotive.
Japanese companies consistently allocate resources to research and development in order to develop state-of-the-art sensor technologies that improve accuracy and dependability.
The regional dedication to innovation makes it a prominent player in the development of automotive pressure sensor technology.
Japan has strict vehicle security laws, which is why there is a need for premium pressure sensors to keep an eye on vital functions like brakes and tire pressure.
Following these requirements is a top priority for Japanese automakers, which has resulted in a steady need for sophisticated pressure sensor systems to guarantee both regulatory compliance and vehicle safety.
The automotive pressure sensor ecosystem in South Korea is likely to evolve with a 12.2% CAGR during the forecast period. The government of South Korea aggressively encourages technical innovation in the automotive sector by providing financial incentives and assistance for research and development.
This creates a favorable atmosphere for market expansion and incentivizes local businesses to invest in cutting-edge sensor technology. The automotive manufacturing sector in South Korea is strong, with market leaders Hyundai and Kia.
The regional automotive pressure sensor market is expanding as a result of the growing use of advanced sensors in vehicles for efficiency and safety.
Leading companies within the global automotive pressure sensor market are developing new products to satisfy the growing need for advanced sensing technologies.
Their main goal is to provide high-performance pressure sensors that can precisely measure a range of characteristics, including fuel system pressure, tire pressure, and engine oil pressure.
To improve the longevity, dependability, and efficiency of sensors, major firms are spending money on research and development. To take advantage of the increasing prospects in the automotive pressure sensor industry, they are diversifying their product lines to provide integrated sensor solutions that meet the changing demands of manufacturers. The key players in this market include:
Significant advancements in the automotive pressure sensor market are being made by key market participants, and these include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.4% from 2024 to 2034 |
| Market Value in 2024 | USD 8.3 billion |
| Market Value in 2034 | USD 22.6 billion |
| Base Year for Estimation | 2023 |
| Historical Data | 2019 to 2023 |
| Forecast Period | 2024 to 2034 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Technology, Vehicle, Application, Transduction Type, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | NXP Semiconductors; Denso Corporation; Robert Bosch; Honeywell International Inc.; Analog Devices; Continental AG; Delphi; Sensata Technologies; Infineon; STMicroelectronics |
| Customization Scope | Available on Request |
The automotive pressure sensor market is expected to garner a 10.4% CAGR from 2024 to 2034.
By 2024, the global automotive pressure sensor market is likely to gain USD 8.3 billion.
By 2034, the automotive pressure sensor market valuation is likely to reach a sum of USD 22.6 billion.
The automotive pressure sensor industry in the United States is likely to garner a 10.8% CAGR during the forecast period.
The micro-electro mechanical system will gain immense popularity and evolve with a 10.3% CAGR through 2034.
The passenger vehicle segment by vehicle type is likely to garner a 10.1% CAGR through 2034.
| Estimated Value (2024) | USD 18,217.7 million |
|---|---|
| Projected Size (2034) | USD 45,561.7 million |
| Value-based CAGR (2024 to 2034) | 9.6% |
| Current Year Value (2023) | USD 55.26 billion |
|---|---|
| Expected Forecast Value (2033) | USD 119.31 billion |
| Projected CAGR (2023 to 2033) | 8% |
| Expected Market Value (2023) | USD 19.2 billion |
|---|---|
| Anticipated Forecast Value (2033) | USD 44 billion |
| Projected CAGR (2023 to 2033) | 8.6% |
| Market Value (2022) | USD 37.01 Billion |
|---|---|
| Market Anticipated Value (2032) | USD 73.48 Billion |
| Market CAGR (2022 to 2032) | 8.3% |
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