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.
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.
The key players of global automotive pressure sensor market Size, as identified by MRFR, are Robert Bosch (Germany), Infineon (Germany), Sensata (US), General Electric (US), Denso (Japan), Texas Instruments (US), NXP (Netherlands), Analog Device (US), Melexis (Belgium), Delphi (UK), and TE Connectivity (Switzerland).
The global market is substantially driven by the competitive nature of the market. Major players are likely to invest in research and development projects towards product development.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/4906
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.
The market has been segmented based on application, technology, and vehicle type.
By application, the market has been segmented into ABS, Airbags, TPMS, HVAC, and transmission.
By technology, the market has been segmented into MEMS, strain, and Gauge and ceramic.
By vehicle type, the market has been divided into passenger vehicles and commercial vehicles.
It is expected that the market for automotive pressure sensor systems will grow with an increase in automotive demand, mainly in the U. S. The country’s demand for commercial vehicles is immense. With the rising demand for commercial vehicles, demand for automotive pressure sensor market Size has increased. North America ‘s success is also driven by the involvement of leading automotive device suppliers, concentrating mainly on key trends such as globalization, mergers & acquisitions, product launch and others. During the forecast period, the existence of major manufacturers and the availability of sophisticated technology in this region is expected to boost demand in the market for automotive pressure sensors. The region’s growth is expected to grow at a rapid pace because of all of these factors.
Because of the presence of the world’s most populous countries such as China and India, Asia Pacific’s supremacy becomes evident in the global market value of automotive pressure sensor systems. Due to rising sales of passenger cars, emerging economies, shifting global players and technological advances, the Automotive Pressure Sensor systems market has experienced rapid growth in the last two years as they give the much-needed drive to the market. The rapid increase in the production of vehicles compliments the market for automotive pressure sensors in this region. Another major reason for Asia Pacific leading the global market is that the countries in this region were able to sustain their economies during the 2008-09 global economic crisis and showcase continued growth in automotive production and sales worldwide.
TABLE OF CONTENTS
1.2 SCOPE OF STUDY
1.3 RESEARCH OBJECTIVE
1.4 ASSUMPTIONS & LIMITATIONS
1.5 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
3 MARKET DYNAMICS
3.5 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
4.1 PORTER’S FIVE FORCES MODEL
4.1.1 BARGAINING POWER OF SUPPLIERS
4.1.2 BARGAINING POWER OF CUSTOMER
4.1.3 INTENSITY OF COMPETITOR’S
4.1.4 THREAT OF NEW ENTRANTS……..
Browse In-depth Market Research Report @ https://www.marketresearchfuture.com/reports/automotive-pressure-sensor-market-4906
Browse more report
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.