Market Scope
MRFR (Market Research Future)anticipates the automotive pressure sensor market 2020 to record a growth rateof close to 7% from 2011 to 2027 (review period). We will provide COVID-19impact analysis with the report, along with all the extensive key developmentsin the market post the coronavirus disease outbreak.
TO UNDERSTAND HOW COVID-19 IMPACT IS COVERED IN THISREPORT - REQUEST SAMPLE @https://www.marketresearchfuture.com/sample_request/4906
COVID-19 Impact on AutomotivePressure Sensors Market
The automotive industry has beenfacing huge disruptions owing to the COVID-19 outbreak. The pandemic haschanged consumer preferences as well as behavior, as the economy has beennegatively affected and the lockdown has brought down the need fornon-essential goods. The growth of the automotive pressure sensors market hasslowed down due to SARS-CoV-2, as international borders have been closed and strictmeasures are in place across several countries.
The novel coronavirus is expectedto leave a long-term impact on people’s living standards and preferences. It couldalso mean weakened demand for vehicles due to the rising prevalence of socialdistancing coupled with the high uptake of the remote working practice. Travelbans in multiple countries could also act as a barrier for automotivepressure sensors market’s growth over the review timeframe.
Top Drivers and Challenges
In addition to the growing needto adhere to the strict environmental regulations, the automotive industry has alsobeen focusing on boosting the overall efficiency and achieving better controlof the engine. This factor is prompting manufacturers to develop advancedautomotive technologies such as automotive pressure sensors that cater to theabove mentioned issues. The application scope of pressure sensors has beenexpanding significantly, such barometric pressure sensor’ rising use inperforming altitude correction at high altitudes favors the market.
Earlier pressure sensors were availableonly in luxury and premium vehicles, but now automakers are starting to integrateit in entry level vehicles with the aim to boost their customer base. It isalso expected that the escalating popularity of electric vehicles amongconsumers can mean lucrative business for the automotive pressure sensors marketin the coming years.Factors including rising focus on driver and passengersafety, emergence of the miniaturization trend and the resultant surge inapplication range in the industry and strict government rules and regulations withregard to carbon emissions are anticipated to benefit the market.
The automotive industry is one ofthe biggest markets for pressure sensors and the applications in powertrain accountsfor more than half of the entire business. Tire pressure monitoring systems/TPMSare the most profitable single automotive applications of pressure sensors inthe automotive industry and are responsible for the significant market growth. Theautomotive pressure sensors industry is a fragmented one, consisting of anumber of prominent companies. These companies offer products that can be differentiatedon the basis of regulatory control, innovation and quality, helping them stayahead of the competition. Most of the firms in the global market also opt for organicas well as inorganic strategies such as partnerships, agreements and productlaunches, among others.
Fill the Pre-Order Enquiry form for the report@https://www.marketresearchfuture.com/enquiry/4906
Market Segmentation
Automotive Pressure Sensor Markethas been considered for application, technology and vehicle type.
Applications mentioned in themarket study are Airbag, ABS, Engine, TPMS, and HVAC, & Transmission.
Technologies covered are StrainGauge, Ceramic and MEMS.
The vehicle types that areintegrated with pressures sensors are passenger vehicle and commercial vehicle.
Regional Outlook
APAC and Europe along with NorthAmerica and MEA/Middle East and Africa are the top markets for automotivepressure sensors.
Given the exploding population inChina and India and the fast economic growth in both the countries have ensuredAsia Pacific’s dominance over the global market. The automotive pressure sensorsmarket in the region is quite lucrative, thanks to the escalating sales ofpassenger cars, growing interest of international players and the surge in technologicalinnovations. The APAC market can continue to fare well in the coming years, inline with the rapidly increasing vehicle production and the subsequent rise inthe adoption of automotive pressure sensors.
North America market forautomotive 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. Significantdemand for commercial vehicles and the existence of highly affluent automotivemanufacturers in the region also add to the market’s strength. Many of thecompanies located in the region are focused on adopting mergers, acquisition, expansionand product launch as their top growth strategies to remain competitive. High availabilityof advanced technologies and their surging adoption also propel the automotivepressure sensor market growth in the region.
Reputed Industry Vendors
Reputed vendors with aconsiderable share in the global market are TE Connectivity (Switzerland),Robert Bosch (Germany), Delphi (UK), Infineon (Germany), Sensata (US), AnalogDevice (US), General Electric (US), Melexis (Belgium), Denso (Japan), NXP(Netherlands), Texas Instruments (US), and more.
Don't miss out on business opportunities in Market. BuyNow 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) isa global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.
Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.
Contact Us:
Market Research Future
Office No. 524/528, AmanoraChambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email:
sales@marketresearchfuture.com
