PRESSURE SENSOR MARKET: SUMMARY
The Global Pressure Sensor Market is projected to reach a value of over USD 25.7 billion by 2027 at a CAGR of around 5.6%.
A sensor is a device that measures a physical quantity such as temperature, length, force, and presssure and converted into an electrical or optical signal. A pressure sensor is an instrument which consists of pressure sensitive element to determine the actual pressure applied to the sensor and some parts to convert the information into output data. These sensors uses IC fabrication technology made up on silicon wafer to measure different types of pressures such as absolute, gauge, absolute, and differential pressures. ABB, Honeywell International Inc., Emerson Electric Co., and Omega Engineering are some of the key players in the pressure sensor market.
PRESSURE SENSOR MARKET: DRIVERS & OPPORTUNITES
- Rising Demand for Pressure Sensors in Automotive and Medical Applications
Increasing medical and automotive applications are expected to drive the pressure sensor market during the forecast period. Most of the critical systems rely on pressure sensors to monitor and measure key parameters to reduce the fuel consumption and improve the driver’s experience. Increasing need for detecting early faults in hydraulic brakes, optimising the fuel mix to match the air pressure, monitoring exhaust recirculation, checking the pressure of critical fluids, and activating airbags faster is expected to boost the pressure sensor market in automotive industry. In medical applications, the need of pressure sensors is to monitor non-invansive and invansive blood pressure, observing fetal heart rate, wound management, patient monitoring system, hospital beds, and dialysis systems among others.
Therefore, pressure sensors play a vital role in automotive and medical applications to fulfil various end-user demands.
- Advancement in Microelectromechanical Systems (MEMS)
MEMS technology uses microminiature sensors and actuators which provides small size, less weight, high performance, low cost, and easy mass-production. New advances in MEMS technology and ASIC has lead to higher accuracy, better resolution, lower energy consumption, and smaller size. These improvements enables wide range of applications in addition to conventional altimeter applications. In recent years, MEMS led the development of miniature sensors such as gyrometer, accelerometer, and pressure devices. Hence advancement in MEMS is expected to drive the pressure sensor market during the forecasts period.
- Growing Awareness About Nano Electro- Mechanical systems (NEMs) Technology
MEMS technology is currently dominating the market but, sensor market cannot ignore the benefits of NEMS. NEMS will become a disruptive technology as this technology offers low power consumption, faster response, and multi-variable output such as temperature, acoustic, and pressure. As compared with MEMS, NEMS combines smaller mass with higher surface area to volume ratioand hence it is also use for ultrasensitive sensors and high frequency reasonator applications. Currently, some leading universities and research organizations are investing heaviliy in NEMS technology to develop the automation process and operating tool for helping in mass production process of NEMS devices. This investment will help many industrial verticals such as medical, automotive, and HVAC to reduced the operating cost and increase the operational efficiency. Hence growing awareness of NEMS technology will become an opportunity for pressure sensor market during forecast period.
PRESSURE SENSOR MARKET: KEY SEGMENTS
- Based on type: Aneroid Barometer Sensors, Manometer Sensors, Bourdon Tube Pressure Sensors, Vacuum Pressure Sensors, Sealed Pressure Sensors, and Others
- Based on technology: Inductive Pressure Sensors, Potentiometric Pressure Sensors, Capacitive Pressure Sensors, Piezoelectric Pressure Sensors, Piezoresistive Pressure Sensors, Variable Reluctance Pressure Sensors, Optical Pressure Sensors, and Others
- Based on function: Pressure Sensing, Flow Sensing, Altitude Sensing, and Depth Sensing
- Based on end-user industry: Manufacturing, Aerospace & Defense, Healthcare, Oil & Gas, Marine, Consumer Electronics, and Others
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
PRESSURE SENSOR MARKET: REPORT SCOPE
The report on the pressure sensor market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million) Volume (Units)
Type, Technology, Function, End User Industry
North America, Asia-Pacific, Europe, Middle East & Africa, South America
KEY COMPANIES COVERED
- ABB (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- NXP Semiconductors
- HONEYWELL INTERNATIONAL INC.
- Infineon Technologies AG
- Emerson Electric Co.
- Robert Bosch GmbH
- Sensata Technologies, Inc.
- BD|SENSORS GmbH
- Omega Engineering Inc.
- Other Key Companies
- First Sensor AG
- Crane Aerospace & Electronics
- MICRO SENSOR CO., LTD.
PRESSURE SENSOR MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Pressure Sensor Market, by Type
- Aneroid Barometer Sensors
- Manometer Sensors
- Bourdon Tube Pressure Sensors
- Vacuum Pressure Sensors
- Sealed Pressure Sensors
Pressure Sensor Market, by Technology
- Inductive Pressure Sensors
- Potentiometric Pressure Sensors
- Capacitive Pressure Sensors
- Piezoelectric Pressure Sensors
- Piezoresistive Pressure Sensors
- Variable Reluctance Pressure Sensors
- Optical Pressure Sensors
- Thermal Pressure Sensors
- Resonant Solid-State Pressure Sensors
- Strain Gauge Pressure Sensors
Pressure Sensor Market, by Function
- Pressure Sensing
- Flow Sensing
- Altitude Sensing
- Depth Sensing
Pressure Sensor Market, by End User
- Aerospace & Defense
- Oil & Gas
- Consumer Electronics
Pressure Sensor Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Pressure Sensor Market Providers
- Pressure Sensor Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Pressure Sensor Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE PRESSURE SENSOR MARKET STUDY