Pressure Sensors Market: Global Size, Share, Trends, Growth and Forecast, 2022-2032
A pressure sensor is a device that senses pressure and transforms it into an electrical signal where the quantity depends on the pressure. It detects measures and transmits information which helps to analyze the performance of the device. It uses IC fabrication technology made on silicon wafers. It monitors and controls the pressure of gases & liquids traditionally. It measures various types of pressure including absolute, vacuum, gauge, and differential pressure. Pressure sensors have been widely used in areas such as automotive, manufacturing, aviation, bio-medical, air-conditioning, and hydraulic measurements.
Pressure sensors is widely used to monitor and control applications. Demand for pressure sensors is expected to increase substantially due to growing government regulations and increasing sensor adoption in automotive and medical applications. Technological developments have led to a decrease in the size and cost of pressure sensors, which is expected to open up new opportunities for the market in turn.
Various types of pressure sensors are used across several end-user industries, such as absolute pressure sensors, gauge pressure sensors, differential pressure sensors, sealed pressure sensors, and vacuum pressure sensors. The growth of the market for pressure sensors is highly dependent on the growth of end-user industries, which include the automotive, industrial, utility, aviation, oil & gas, and marine industries in particular.
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Rising Demand for Pressure Sensors in Automotive Industry and Medical Sector
Demand for pressure sensors has subsequently increased over the years and is projected to continue to increase during the forecast period. This helps manufacturers of automobiles to increase their market growth and increase their market share. Pressure sensors are the key components for reducing emissions and the consumption of fuel to reduce air pollution. In addition, pressure sensors are being deployed for applications such as Tire Pressure Monitoring Systems (TPMS), Advanced Driver Assistance Systems (ADAS), and Manifold Absolute Pressure Sensors (MAPS) for different safety concerns of passengers in the automotive sector. They also aid in the deployment of passenger airbags, throttle position, weight, and sense.
The need for pressure sensors in the medical sector is to monitor non-invasive and invasive blood pressure, observe fetal heart rate, and manage wounds, monitor patients, hospital beds, and dialysis systems.
Increasing Adoption of Internet of Things (IoT)
IoT-based devices help with both the communication of machine-to-machine (M2M) and person-to-computer communication. Furthermore, these devices help individuals to capture and transmit electronic data. In addition, these sensors also report climate conditions and transfer information to the approaching vehicle via the Internet to reduce its speed. In the electronics sector, these smart sensors are used in power grids to measure the use of electricity. The development of smart homes and buildings, smart cities, and smart factories are being transformed by pressure sensors. Therefore, the rise of IoT-connected devices is expected to fuel market growth. Furthermore, increasing industrial automation and increasing demand for highly advanced consumer devices, such as wearables and IoT-connected devices, are among the major factors driving the market for pressure sensors over the forecast period.
Adding sensors helps to increase automation in electronic devices; however, it requires an extra cost and is avoided in cost-effective applications afterward. The incorporation of sensors makes additional features easier and the devices more automated, although some extra costs are incurred and then avoided in cost-effective applications. Furthermore, high development costs involved in R&D activities to develop new products pose a difficult challenge, especially for manufacturers of small and medium-sized pressure sensors with cash inefficiencies. Furthermore, the integration of these sensors into viable systems is an expensive process, especially in the automotive industry. Some of the other constraints are the lack of product differentiation, high power consumption, and precision.
Asia-Pacific Region is anticipated to grow at the highest CAGR of 9.6% and is expected to hold the largest share of the overall pressure sensor market. Rising investments in new manufacturing plants establishment, plant capacity expansions, replacement, and upgrade of plant equipment would increase sales of industrial and automotive sensors further driving the overall pressure sensor market in this region.
As stringent government regulations on passenger safety and the significantly increasing automotive and aerospace industries are driving the market for pressure sensors in North America and it is expected to hold a major share over the forecast period. The emergence of IT, along with the growth in the use of IoT across a wide range of manufacturing, industrial, and automotive applications, has added a new dimension to the region's business operations.
The report also covers detailed competitive analysis of major market players of the global pressure sensor market, such as AlphaSense, City Technology Ltd., Dynament Ltd., FIGARO ENGINEERING INC., Honeywell International Inc., NXP Semiconductors N.V., Qualcomm Technologies Inc., STMicroelectronics N.V., Robert Bosch GmbH, Taiwan Semiconductor Manufacturing Company Limited and other major & niche players. The global market for pressure sensors is witnessing a wide range of industry activities such as product launch, innovation, acquisition, partnership, research & development, and expansion across the globe.
Competitive landscape analysis provides a detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development, and other market activities). The study also provides the company’s positioning and market share of the overall market.
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- Absolute Pressure Sensors
- Gauge Pressure Sensor
- Differential Pressure Sensors
- Resonant Solid State
- Pressure Sensing
- Altitude Sensing
- Flow Sensing
- Depth Sensing
- Healthcare Industry
- HVAC Industry
- Automobile Industry
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
- Middle East & Africa (GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of the Middle East & Africa)
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges, and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global pressure sensor market by the following segments:
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Pressure Sensor Industry Report
- What is the overall market size in 2019? What will be the market growth during the forecast period i.e. 2020-2025?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?