Automotive Pressure Sensors Market Comprehensive study with COVID-19 impact analysis explores Huge Growth to 2027

The MarketWatch News Department was not involved in the creation of this content.

MRFR (Market Research Future) anticipates the automotive pressure sensor market 2020 to record a growth rate of close to 7% from 2011 to 2027 (review period). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.

TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THIS REPORT – REQUEST SAMPLE @ https://www.marketresearchfuture.com/sample_request/4906

COVID-19 Impact on Automotive Pressure Sensors Market

The automotive industry has been facing huge disruptions owing to the COVID-19 outbreak. The pandemic has changed consumer preferences as well as behavior, as the economy has been negatively affected and the lockdown has brought down the need for non-essential goods. The growth of the automotive pressure sensors market has slowed down due to SARS-CoV-2, as international borders have been closed and strict measures are in place across several countries.

The novel coronavirus is expected to leave a long-term impact on people’s living standards and preferences. It could also mean weakened demand for vehicles due to the rising prevalence of social distancing coupled with the high uptake of the remote working practice. Travel bans in multiple countries could also act as a barrier for automotive pressure sensors market’s growth over the review timeframe.

Top Drivers and Challenges

In addition to the growing need to adhere to the strict environmental regulations, the automotive industry has also been focusing on boosting the overall efficiency and achieving better control of the engine. This factor is prompting manufacturers to develop advanced automotive technologies such as automotive pressure sensors that cater to the above mentioned issues. The application scope of pressure sensors has been expanding significantly, such barometric pressure sensor’ rising use in performing altitude correction at high altitudes favors the market.

Earlier pressure sensors were available only in luxury and premium vehicles, but now automakers are starting to integrate it in entry level vehicles with the aim to boost their customer base. It is also expected that the escalating popularity of electric vehicles among consumers can mean lucrative business for the automotive pressure sensors market in the coming years. Factors including rising focus on driver and passenger safety, emergence of the miniaturization trend and the resultant surge in application range in the industry and strict government rules and regulations with regard to carbon emissions are anticipated to benefit the market.

 

 

The automotive industry is one of the biggest markets for pressure sensors and the applications in powertrain accounts for more than half of the entire business. Tire pressure monitoring systems/TPMS are the most profitable single automotive applications of pressure sensors in the automotive industry and are responsible for the significant market growth. The automotive pressure sensors industry is a fragmented one, consisting of a number of prominent companies. These companies offer products that can be differentiated on the basis of regulatory control, innovation and quality, helping them stay ahead of the competition. Most of the firms in the global market also opt for organic as well as inorganic strategies such as partnerships, agreements and product launches, among others.

Fill the Pre-Order Enquiry form for the [email protected] https://www.marketresearchfuture.com/enquiry/4906

Market Segmentation

Automotive Pressure Sensor Market has been considered for application, technology and vehicle type.

Applications mentioned in the market study are Airbag, ABS, Engine, TPMS, and HVAC, & Transmission.

Technologies covered are Strain Gauge, Ceramic and MEMS.

The vehicle types that are integrated with pressures sensors are passenger vehicle and commercial vehicle.

Regional Outlook

APAC and Europe along with North America and MEA/Middle East and Africa are the top markets for automotive pressure sensors.

Given the exploding population in China and India and the fast economic growth in both the countries have ensured Asia Pacific’s dominance over the global market. The automotive pressure sensors market in the region is quite lucrative, thanks to the escalating sales of passenger cars, growing interest of international players and the surge in technological innovations. The APAC market can continue to fare well in the coming years, in line with the rapidly increasing vehicle production and the subsequent rise in the adoption of automotive pressure sensors.

North America market for automotive pressure sensors has been going strong in the past couple of years, primarily owing to the rising demand for luxury cars, especially in the US. Significant demand for commercial vehicles and the existence of highly affluent automotive manufacturers in the region also add to the market’s strength. Many of the companies located in the region are focused on adopting mergers, acquisition, expansion and product launch as their top growth strategies to remain competitive. High availability of advanced technologies and their surging adoption also propel the automotive pressure sensor market growth in the region.

 

 

Reputed Industry Vendors

Reputed vendors with a considerable share in the global market are TE Connectivity (Switzerland), Robert Bosch (Germany), Delphi (UK), Infineon (Germany), Sensata (US), Analog Device (US), General Electric (US), Melexis (Belgium), Denso (Japan), NXP (Netherlands), Texas Instruments (US), and more.

Don’t miss out on business opportunities in Market. Buy Now and gain crucial industry insights that will help your business grow @ https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=4906

About Market Research Future:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

Contact Us:

Market Research Future

Office No. 524/528, Amanora Chambers

Magarpatta Road, Hadapsar

Pune – 411028

Maharashtra, India

+1 646 845 9312

Email: [email protected]

COMTEX_380044160/2582/2021-02-02T07:30:21

Is there a problem with this press release? Contact the source provider Comtex at [email protected] You can also contact MarketWatch Customer Service via our Customer Center.

The MarketWatch News Department was not involved in the creation of this content.