Market Size –
The air pressure sensors market size has grown strongly in recent years. It will grow from $17.17 billion in 2023 to $18.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to automotive advancements, increased awareness of safety and efficiency, increasing industrial automation, enhanced accuracy of GPS systems, and demand for more precise monitoring in the automotive and industrial sectors.
The air pressure sensors market size is expected to see strong growth in the next few years. It will grow to $24.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the rise of electric vehicles, growth in autonomous vehicles, increasing reliance on data analytics, rising demand for connected cars, urbanization, and traffic congestion. Major trends in the forecast period include integration with AI and machine learning, a shift towards sustainable mobility, advancements in sensor fusion technology, personalized vehicle experiences, and enhanced sensor accuracy.
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Scope Of Air Pressure Sensors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Air Pressure Sensors Market Overview
Market Drivers –
The growing automotive sector is expected to propel the growth of the air pressure sensors market going forward. The automotive sector refers to the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, buses, motorcycles, and other types of vehicles. The automotive sector is expanding due to improved economic conditions, government incentives and regulations, consumer preferences and lifestyle changes, innovation, and competition. Air pressure sensors are used in the automotive sector to monitor and regulate tire pressure, engine performance, and airbag deployment systems for enhanced safety and efficiency. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Therefore, the growing automotive sector is driving the growth of the air pressure sensors market.
Market Trends –
Major companies operating in the air pressure sensors market are increasing their focus on developing innovative products, such as barometric air pressure sensors, to meet the growing demand for precise and reliable pressure measurements. Barometric air pressure sensors are devices that measure the atmospheric pressure. These sensors convert the atmospheric pressure into an electrical signal, which can then be used by different systems for monitoring and control purposes. For instance, in June 2023, Infineon Technologies AG, a Germany-based semiconductor manufacturing company, launched two new XENSIV barometric air pressure sensors. These sensors are specifically designed for engine management and pneumatic seat systems, aiming to provide accurate and reliable measurements for improved performance and efficiency in automotive applications. Leveraging Infineon’s expertise in sensor technology, these new offerings are expected to contribute to the advancement of engine management and pneumatic seat systems, enhancing functionality and user experiences.
The air pressure sensors market covered in this report is segmented –
1) By Type: Absolute Air Pressure Sensor, Differential Air Pressure Sensor, Gauge Air Pressure Sensor
2) By Sensor Type: Wired Sensors, Wireless Sensors
3) By Technology: Piezoresistive, Capacitive, Electromagnetic, Resonant Solid-State, Optical, Other Technologies
4) By End-User: Automotive, Aerospace And Defense, Manufacturing, Medical, Other End-Users
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Regional Insights –
Asia-Pacific was the largest region in the air pressure sensors market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air pressure sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the air pressure sensors market are Siemens AG, General Electric Company, Panasonic Corporation, Denso Corporation, Continental AG, Schneider Electric SE, Honeywell International Inc., Texas Instruments Incorporated, TE Connectivity Ltd., STMicroelectronics, Infineon Technologies AG, Murata Manufacturing Co. Ltd., NXP Semiconductors N.V., Amphenol Corporation, Analog Devices Inc., Autoliv Inc., Alps Alpine Co. Ltd., Omron Corporation, Ametek Inc., Sensata Technologies, Keller America Inc., Curtiss-Wright Corporation, Bourns Inc., First Sensor AG, Memsic Inc., Bosch Sensortec GmbH, E+E Elektronik, Delphi Technologies, BD|SENSORS GmbH
Table of Contents
1. Executive Summary
2. Air Pressure Sensors Market Characteristics
3. Air Pressure Sensors Market Trends And Strategies
4. Air Pressure Sensors Market – Macro Economic Scenario
5. Global Air Pressure Sensors Market Size and Growth
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31. Air Pressure Sensors Market Other Major And Innovative Companies
32. Global Air Pressure Sensors Market Competitive Benchmarking
33. Global Air Pressure Sensors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Air Pressure Sensors Market
35. Air Pressure Sensors Market Future Outlook and Potential Analysis
36.Appendix
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