DUBLIN--(BUSINESS WIRE)--The "Global Automotive Pressure Sensors Market - Segmented by Vehicle Type, Application (Power Train and Body Electronics), and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
In 2017, the automotive pressure sensor market was valued at USD 3.98 billion and is expected to reach a value of USD 6.36 billion by 2023, registering a CAGR of about 8.14% during 2018-2023
In Terms of Product Type, the Passenger Cars Segment accounted for the Highest Market Share
Due to the rising purchasing power of the millennial population, the demand for passenger cars is growing. For an average consumer, truck is a reliable option, as it has good fuel efficiency and safety features. These factors drive the growth of the heavy weight vehicles segment. Premium vehicles and utilities continue to drive the sales rate of light vehicles, which cumulatively is expected to contribute to a growth in demand for temperature sensors during the forecast period.
The Engine Management Systems Segment Holds the Major Share in Application
The engine management systems (EMS) are small in size, therefore their engines are made eco-friendly, without compromising the performance of vehicles. Reduction in the size of engine increases the fuel efficiency, leading to a better mileage. Barometric pressure sensor is an essential part in EMS for gasoline and diesel engines.
Fuel economy standards, such as carbon dioxide, carbon monoxide, and nitrogen oxide emission limits, are getting stringent worldwide, thus, there are many restrictions on emissions .This factor has compelled manufacturers to develop fuel-efficient EMS complying with emission standards, therefore, driving the demand for EMS in the pressure sensors market during the forecast period.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Global Automotive Pressure Sensor Market Segmentation - by Vehicle Type
6. Global Automotive Pressure Sensor Market Segmentation - By Application
7. Global Automotive Pressure Sensor Market Segmentation - By Geography
8. Competitive Analysis - Company Profiles
9. Investment Analysis
10. Future of the Automotive Pressure Sensor Market
- Robert Bosch Gmbh
- Nxp Semiconductor
- Continental Ag
- Panasonic Corporation
- Honeywell International Inc
- St Microelectronics Nv
For more information about this report visit https://www.researchandmarkets.com/research/frg5lm/global_automotive?w=4