Market Research Report
Global Automotive Pressure Sensor Market Size study, by Vehicle Type, by Application and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||916179|
Delivery time: 2-3 business days
|Global Automotive Pressure Sensor Market Size study, by Vehicle Type, by Application and Regional Forecasts 2019-2026|
|Published: November 8, 2019||Content info:||
Global Automotive Pressure Sensor Market is valued approximately at USD 4.40 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 8.3% over the forecast period 2019-2026. An automotive pressure sensor is a device used for pressure measurement of gases or liquids in a vehicle. These sensors are mainly used to reduce the fuel consumption, minimize onboard weight of vehicle and abide by government regulations towards the safety of passenger. Also, automotive pressure sensors are rapidly gaining popularity among OEM. Further, some pressure sensors have pressure switches, which turn on or off at a particular pressure. For example, a water pump can be operated by a pressure switch, so that it starts when water is released from the system, lowering the pressure in a reservoir. Increasing number of vehicles worldwide, rising concentration on passenger safety and stringent government regulations concerning emissions are the few factors responsible for high CAGR of the market over the forecast period. For instance, Globally, it is estimated that cars' production wasis nearly 73.4 million units in 2017, represent an increase from 72.1 million in units in 2016, as per International Organization of Motor Vehicle Manufacturers (OICA). Also, the commercial vehicle production is nearly 25.13 billion worldwide in 2018, up from 23.84 billion in 2017, as per International Organization of Motor Vehicle Manufacturers (OICA). Thus, increasing production of vehicles is expected to promoterise the adoption of pressure sensors around the world. Moreover, rising technologicales advancements and innovations such as advanced driver assistance systems (ADAS) & lane departure warning (LDW) systems areis the major factors likely to create lucrative growth opportunity to the market in the upcoming years. However, high cost of pressure sensors is one of the major factors anticipated to limiting the growth of global Automotive Pressure Sensor market during the forecast period.
The regional analysis of global Automotive Pressure Sensor Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share and revenue owing to the increasing number of passengers cars and commercial vehicles on road, growing advent of connected cars and automated driverless vehicles and advancements in the regulatory framework associated to pressure sensors in the region. However, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: