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Analysis on New Product Launches in Covid-19 Related Markets-Automotive Pressure Sensors Market 2020-2024 | Demand for Automobiles to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–Technavio has been monitoring the automotive pressure sensors market and it is poised to grow by USD 614.21 million during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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. are some of the major market participants. The demand for automobiles will offer immense growth opportunities. 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.

Demand for automobiles has been instrumental in driving the growth of the market.

Automotive Pressure Sensors Market 2020-2024: Segmentation

Automotive Pressure Sensors Market is segmented as below:

  • End-user
    • Passenger Vehicles
    • Commercial Vehicles
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

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Automotive Pressure Sensors Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our automotive pressure sensors market report covers the following areas:

  • Automotive Pressure Sensors Market Size
  • Automotive Pressure Sensors Market Trends
  • Automotive Pressure Sensors Market Industry Analysis

This study identifies demand for safer and smarter systems in automobiles as one of the prime reasons driving the automotive pressure sensors market growth during the next few years.

Automotive Pressure Sensors Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the automotive pressure sensors market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the automotive pressure sensors market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Automotive Pressure Sensors Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist automotive pressure sensors market growth during the next five years
  • Estimation of the automotive pressure sensors market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the automotive pressure sensors market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of automotive pressure

Automotive Sensors Market Size, Share

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As per current automotive sensors market trends, governing bodies globally have imposed stringent regulations on automotive manufacturers to equip various sensors in vehicles owing to the rising number of road accidents, globally. In recent years, majority of cars are equipped with advanced sensors that are connected to the electronic control unit (ECU). ECU consist of software and hardware. Hardware contains a microcontroller chip as the vital component along with electronic components on the printed circuit board (PCB). Inputs that are received from the number of sensors and is processed by the microcontroller in real-time. Majority of vehicles have eliminated the use of pneumatic and mechanical controls and replaced them with electronic sensors that are easy to handle, light in weight, flexible and cheaper than pneumatic and mechanical controls. The electronic control unit has helped to curb emission, eliminate the use of wires, and make the diagnostic of vehicles much easier.

In recent years, vehicles are equipped with advanced sensors like temperature sensors, pressure sensors, speed sensors, inertia sensors, image sensors, and position sensors to make driving more efficient and safer. The temperature sensor monitors the temperature of the engine coolant and sends the temperature data to ECU in form of electric current. The electronic control unit reacts to the change in temperature and adjusts the fuel injection inside the engine. Position sensors are anticipated to dominate the market and maintain its dominance over the forecast period. It helps to detect exact location of the vehicle with the help of global navigation satellite system. This is making very easy for organizations to manage their fleets. The image sensors market is anticipated to show lucrative growth owing to its property detect any obstacle at a long-range and read various road signs even at night and during low visibility. By vehicle type, automotive sensors are fragmented into passenger cars, LCV, and HCV. The passenger car segment is anticipated to dominate the market, owing to the rising demand for sensors that make driving more easy, efficient, and safe.

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There has been an increase in the new automotive sensor systems being set up across various countries. Asia Pacific holds the highest market share amid the high volume of automobile manufacturing in the region. The Asia Pacific has good growth potential during the forecast period increasing installation of sensors in automobiles in the region. The increasing sensor application in vehicles in North America is expected to drive the market further. The automotive sensors market is projected to have good growth rate over the given forecast period accredited to increased installation of various driver assistance systems in the modern-day vehicle.


“Increasing Number of Autonomous Vehicles to Propel the Automotive Sensors Market”