Automotive Pressure Sensors Market Size, Share, Growth Analysis, By Vehicle Type, By EV Type (Battery Electric Vehicle ), By Applications, By Transduction Type, By Technology, By Region - Industry Forecast 2024-2031

Global Automotive Pressure Sensors Market size was valued at USD 17.6 billion in 2022 and is poised to grow from USD 19.3 billion in 2023 to USD 38.2 billion by 2031, growing at a CAGR of 8.9% during the forecast period (2024-2031).

The global automotive pressure sensors market is poised for significant growth, driven by advances in technology, safety regulations, and the rise of electric vehicles (EVs). Tire Pressure Monitoring Systems (TPMS), which utilize pressure monitoring sensors in each tire, enhance vehicle safety by actively tracking and relaying pressure data to control modules. The emphasis on safety measures in passenger vehicles amplifies the demand for such technology, as it can reduce collision impacts and fatalities. Innovations in sensor technology, such as non-contact 3D magnetic sensors, are increasing accuracy, portability, and durability, catering to the evolving requirements of automakers. Moreover, strict governmental regulations aimed at improving vehicle emissions, safety, and fuel efficiency are further fueling market growth, as they mandate pressure sensor installations in vehicles for monitoring tire pressure and emissions. Additionally, the rapid expansion of the EV market is driving the necessity for pressure sensors in various applications, including battery and heating systems. As the EV sector grows, so does the need for pressure sensors. Furthermore, the advent of autonomous driving technologies necessitates the integration of sophisticated pressure sensors for critical functions such as adaptive cruise control and collision avoidance. Therefore, as vehicle safety and automation continue to advance, the automotive pressure sensors market is expected to thrive, highlighting its importance in enhancing vehicle performance and safety standards.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Automotive Pressure Sensors market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Automotive Pressure Sensors Market Segmental Analysis

Global Automotive Pressure Sensors Market is segmented by Vehicle Type, Vehicle Type, Application, Transduction Type, Technology, and Region. Based on Vehicle Type, the market is segmented into Passenger Cars, and Commercial Vehicles. Based on Application, the market is segmented into Antilock Braking System (ABS), Airbag System, Direct Tire Pressure Monitoring System, HVAC System, Power Steering, Transmission System. Based on Transduction Type, the market is segmented into Piezoresistive Pressure Sensors, Capacitive Pressure Sensors, Resonant Pressure Sensors, Optical Pressor Sensor, Other Pressure Sensors. Based on Technology, the market is segmented into Pressure Sensor, MEMS Pressure Sensor Strain Gauge Pressure Senior. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Driver of the Global Automotive Pressure Sensors Market

The Global Automotive Pressure Sensors market is experiencing significant growth driven by the rising demand for precise pressure detection to enhance vehicle safety and efficiency. Modern safety systems now incorporate dual airbag pressure sensors, which are strategically placed in side doors to effectively communicate digital signals to the central airbag unit during collisions. Furthermore, these sensors play a crucial role in boosting engine performance by fine-tuning spark timing in both petrol and diesel engines. As a result, the heightened integration of pressure sensors in both engine systems and safety features is expected to propel market expansion in the coming years.

Restraints in the Global Automotive Pressure Sensors Market

The Global Automotive Pressure Sensors market faces significant challenges that may hinder its growth. Increasing costs associated with sensor production and limitations imposed by adverse weather conditions are major restraints. The focus on minimizing sensor size complicates efforts to lower costs, particularly for sensors employed in advanced driver assistance systems, which struggle to achieve target pricing. Furthermore, many sensors currently experience constraints in both signal bandwidth and measurement range, complicating the differentiation between genuine signals and system noise, such as obstacles on the road. These issues collectively pose significant barriers to the market's expansion potential.

Market Trends of the Global Automotive Pressure Sensors Market

The Global Automotive Pressure Sensors market is witnessing a significant trend toward the adoption of non-interacting 3D magnetic sensors, driven by automakers' desire to enhance vehicle performance and reliability. These advanced sensors are being favored over traditional potentiometers and optical systems for positioning mechanisms, due to their ability to mitigate damage and contamination errors, while providing accurate measurements in high-temperature environments. This evolution not only optimizes space but also facilitates innovative vehicle modifications by manufacturers like STMicroelectronics and Elmos. As the demand for more efficient and durable automotive components grows, the integration of 3D magnetic sensors is expected to accelerate, shaping the future of automotive technology.