Report ID: SQMIG25A2271
Report ID:
SQMIG25A2271 |
Region:
Global |
Published Date: November, 2024
Pages:
220
|
Tables:
94 |
Figures:
76
Automotive Pressure Sensors Market size was valued at USD 19.3 Billion in 2023 and is poised to grow from USD 21.02 Billion in 2024 to USD 41.6 Billion by 2032, growing at a CAGR of 8.9% during the forecast period (2025-2032).
The TPMS uses pressure monitoring sensors in each tire that monitor a specific pressure level and transmit data to a centralized control module. TPMS tend to have major advantages in passenger vehicles, where tire pressure monitoring is considered an important safety measure. The global automotive pressure sensors industry is taking steps to provide products that help in reducing the impact of collisions, reducing the number of fatalities and improving the overall safety of vehicles. This will fuel the growth of the global automotive pressure sensors industry during the forecast period.
Continued advances in sensor technology, including the development of non-contact 3D magnetic sensors, drive innovation in the global automotive pressure sensors market. These advances make pressure sensors more accurate, more portable too and durability to meet the evolving needs of automakers.
Stringent regulations on vehicle emissions, safety and fuel efficiency increase the demand for pressure sensors in vehicles. Governments all over the world have issued regulations as it mandates the installation of pressure sensors in vehicles to monitor things like tire pressure and engine emissions, boosting market growth. Growing Electric Vehicle (EV) Market: Increasing adoption of electric vehicles is driving demand for pressure sensors used in battery systems, heating systems, and other critical applications. As the electric vehicle market expands, pressure detection demand is expected to increase accordingly. Emerging autonomous driving technology requires the integration of advanced sensors including pressure sensors to control and monitor vehicles Pressure sensors are important for various autonomous driving functions such as adaptive cruise control, collision avoidance.
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Report ID: SQMIG25A2271