Tire Pressure Sensor and Airbag Sensor Market

Tire Pressure Sensor and Airbag Sensor Market Outlook (2024 to 2034)

Expanding at a CAGR of 6.7%, the global tire pressure sensor and airbag sensor market is projected to increase from a valuation of US$ 5.56 billion in 2024 to US$ 10.63 billion by 2034, as stated in Fact.MR report.

Airbag sensors are semiconductor devices that detect abrupt acceleration and deceleration after a collision and then send a signal to the car's airbags to deploy. The sensors track several variables, including abrupt braking and pressure changes, to determine if a car has been in an accident that triggers the airbags to deploy. Furthermore, the severity of the collision is taken into account when airbags deploy.

Sales of commercial vehicles and passenger automobiles are directly correlated with the demand for airbags and tire pressure sensors. The need for high-performance, energy-efficient, and high-quality solutions is being driven by the spread of smart cities and sophisticated technical systems because of the automobile industry's expanding electrification and fast urbanization. The market need for airbags and tire pressure sensors rises owing to these solutions, which give car owners more comfort and convenience.

Customers are now more concerned about safety than ever when buying a car. The need for cutting-edge goods that improve comfort and safety is rising. Stringent government restrictions on passenger safety are also supporting this trend since more autonomous cars with cutting-edge safety equipment such as tire pressure sensors and airbag sensors are in demand. The growing demand for these sensors is driven by the global push to improve car safety regulations.

• The market for airbag sensors and tire pressure sensors is performing very well in Mexico, the market in the country is forecasted to progress at a CAGR of 9.9% between 2024 and 2034, which is even higher than the well-established market in the United States and Canada. This has allowed the manufacturers to think of commencing their business activities in this country.
• In the East Asia region, the market in South Korea is becoming a strong country in the field of tire pressure sensors and airbag sensors. The market valuation in the country is estimated to grow from US$ 246.5 million in 2024 to US$ 490.2 million by the end of 2034.

Report Attribute	Detail
Tire Pressure Sensor and Airbag Sensor Market Size (2024E)	US$ 5.56 Billion
Forecasted Market Value (2034F)	US$ 10.63 Billion
Global Market Growth Rate (2024 to 2034)	6.7% CAGR
North America Market Value (2024E)	US$ 1.82 Billion
Mexico Market Value (2034F)	US$ 218.4 Million
Airbag Sensor Segment Growth Rate (2024 to 2034)	7.4% CAGR
United States Market Value (2034F)	US$ 2.47 Billion
Key Companies Profiled	Infineon Technologies AG; Mitsubishi Electric Co. Ltd.; Continental AG; NXP Semiconductors; ZF Friedrichshafen AG; Robert Bosch GmBH; Yanfeng Automotive Safety Systems Co. Ltd; Hella GmbH & Co. KGaA; Denso Corporation; Analog Devices Inc.; STMicroelectronics; Texas Instruments Incorporated; Allegro Microsystems, LLC; CTS Corporation; Elmos Semiconductor; Sensata Technologies.

Which Growth Factors are Increasing the Sales of Tire Pressure Sensors and Air Bag Sensors?

“Automakers Focusing on Developing Dependable and Strong Airbags Bringing New Growth Opportunities”

Several major issues, including highly developed car electrical architectures and vehicle sensitization, have a positive impact on the development of airbag systems. As more and more automakers focus on developing dependable and strong safety deployment systems in their vehicles, the industry has seen a growth in demand for its sensors.

Accurate sensor technologies integrated into cars enable the car's system to determine the impact of an accident and then activate the airbag safety systems. For example, a peripheral acceleration sensor intended for precise impact detection in one spatial axis during an accident is integrated into the Bosch occupant safety system. A micromechanical element on the silicon wafer's surface that employs a spring/mass system is the focal point of a sensor. The sensor has a wider measuring range and will run at low power levels. Thus, the market is going to increase considerably as car component OEMs continue to improve the capabilities and dependability of vehicle sensors.

“Growing Cases of Accidents Increasing Importance of Airbag Sensors for Safety”

Increasing numbers of traffic deaths and accidents have led to a concerning scenario in several countries across the world. To protect public safety and lower the rising frequency of traffic accidents, several countries are enacting new traffic and road legislation.

The Indian government implemented a car safety law in September 2022, mandating that all light vehicles have six passenger airbags. Governments across the board are incentivized to establish safety standards to make roads and transit safer. Therebye, it is estimated that rising government awareness of car safety will boost product demand worldwide, leading to expanding tire pressure sensor and airbag sensor market size.

“Government Trying to Reduce the Death Toll from Passenger Vehicles”

In the automotive business, passenger cars are the most common type of vehicles. Because passenger automobiles serve a wider consumer market, demand for them is rising. Over the years, sales of passenger automobiles have been influenced positively by the desire for vehicle ownership among several customers for their daily commute, travel, or leisure/luxury needs.
The most advanced safety features and technology innovations are found in the passenger car segment of the automotive industry. Some of the main reasons influencing the sales of these sensors in passenger cars are the growing campaigns and laws requiring airbags on cars to lower death tolls and traffic deaths.

What is Restricting the Global Market to Reach its Potential Height?

“Malfunctioning Air Bags and Other Glitches Hampering Market Growth”

One of the most important parts of airbag systems is a sensor, which provides the control module with the information it needs to activate the airbags in the case of a serious accident. Nonetheless, a malfunctioning airbag system will result from wire inputs providing the airbag module with data from sensors that aren't working properly. The product's uptake was somewhat hampered in the past by reports of malfunctioning airbag sensors. Moreover, car owners do have to pay a fortune to replace their airbags because of their exorbitant costs. It is expected that these few issues are impeding the overall tire pressure sensor and airbag sensor market growth.

Country-wise Analysis

As more people become aware of driving safety and the government works hard on reducing accidents, the market for tire pressure sensors and airbag sensors is analyzed to reach a potential height worldwide. Several countries, such as the United States, Canada, South Korea, China, and Mexico are actively involved in this market. Among all the countries, the United States is projected to hold a significant tire pressure sensor and airbag sensor market share.

What Components are Increasing Chances of Increased Tire Pressure Sensors and Air Bag Sensor Sales in the United States?

“Strict Safety Regulations from NHTSA Driving Demand for Tire Pressure Sensors and Airbag Sensors”

Attribute	United States
Market Value (2024E)	US$ 1.46 Billion
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 2.47 Billion

According to the National Highway Traffic Safety Administration, all the vehicles in the country must be equipped with safety features including seatbelts, airbags, and brakes. This rule has pressured automakers to adhere to these regulations and work actively on providing airbag sensors and tire pressure sensors to make sure the cars are efficiently performing on roads.

With advanced races such as Formula-1, more automakers are understanding the areas where they are improving safety and introducing better safety features for drivers. All these drivers are thrusting the market with new sales every year.

Why is the Market in China Attracting Manufacturers from Around the World?

“Presence of Aftermarket and OEMs Making China More Lucrative for Customers”

Attribute	China
Market Value (2024E)	US$ 493 Million
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 893.3 Million

Customers enjoy the product when it is of high quality at a pocket-friendly price compared to the market. China has always been a go-to market for customers if they are looking for a product with an economical price due to the presence of aftermarkets as they give drivers and customers to look for sensors that are well efficient but are also economical compared to the branded competitors in the market. Manufacturers on the other hand are also looking to be in contact with the suppliers of this country to reap the benefits of getting sensors at lower prices.

Category-wise Insights

The market is segmented into a variety of categories involving sensor type and vehicle category, a few of the most popular sensors available in the market include airbag sensors and tire pressure sensors.

Which Sensor Type is Proving to be More Profitable for Manufacturers in the Market?

“Tire Pressure Sensors Proving More Profitable and Highly Used Compared to Airbag Sensors”

Attribute	Tire Pressure Sensors
Segment Value (2024E)	US$ 3.06 Billion
Growth Rate (2024 to 2034)	6.1% CAGR
Projected Value (2034F)	US$ 5.51 Billion

Tire pressure sensors are more profitable and in demand compared to airbag sensors. As automotive technology advances, there has been a significant increase in the demand for tire pressure sensors. These sensors provide essential safety and performance information to drivers, leading to their increased adoption by manufacturers. Additionally, tire pressure sensors contribute to fuel efficiency and overall vehicle safety, making them a more lucrative choice for manufacturers aiming to meet consumer demands for advanced safety features in modern vehicles, which is becoming a new tire pressure sensor and airbag sensor market trend.

For Which Vehicle Category are Tire Pressure Sensors and Airbag Sensors Demanded More?

“Passenger Cars Getting Employed with Sensors More Compared to Commercial Vehicles”

Attribute	Passenger Cars
Segment Value (2024E)	US$ 3.7 Billion
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 6.18 Billion

Sensors are deployed more in passenger cars compared to commercial vehicles. With the growing trend of integrating advanced technologies and driver-assist systems, passenger cars are increasingly being equipped with a variety of sensors including those for adaptive cruise control, parking assistance, collision avoidance, and more. This technological evolution aims to enhance the overall driving experience, safety, and convenience for passengers. In contrast, the integration of advanced sensors in commercial vehicles is relatively slower due to different operational requirements and cost considerations.

Competitive Landscape

Key players in the tire pressure sensor and airbag sensor market are rigorously working on introducing new products including automotive knee airbags and automotive curtain airbags.

• In June 2023, Autoliv Inc. presented its latest airbag module. This module utilizes fluid dynamic concepts to enable airbag systems to expand their inflated area and encompass a larger vehicle's interior, therefore reducing passenger injuries.
• Melexis introduced their new, very precise automotive pressure sensor for ICE cars in November 2022. A new line of integrated pressure sensors was unveiled by the business. These pressure sensors provide a digital output signal to its networked goods after determining the absolute pressure.
• In September 2022, Honda Motors received an Indian patent for their innovative scooter airbag system. The single frontal airbag feature is positioned close to the handlebar, as per the patented technique.
• The new battery impact detection system from Continental AG was unveiled in May 2022. It detects impacts and alerts the driver to halt if the impact causes damage to the battery.
• In January 2021, Daicel declared that an airbag inflator manufacturing plan will be established in India. Daicel is a car component company situated in Japan. To increase its market share in the Indian automotive industry and target regional producers, the business plans to build an airbag inflator facility.

Fact.MR provides detailed information about the price points of key manufacturers of tire pressure sensors and airbag sensors positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Tire Pressure Sensor and Airbag Sensor Market Research

• By Type :

  • Airbag
  • Tire Pressure

• By Vehicle :

  • Passenger Cars
    • Compact
    • Mid-Sized
    • SUVs
    • Luxury
  • Commercial Vehicles

• By Sales Channel :

  • OEMs
  • Aftermarket

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa