Press Release / Technology / Pressure Sensors Market Overview, Growth, Opportunities and Development 2023

Pressure Sensors Market Overview, Growth, Opportunities and Development 2023

The report on the global Pressure Sensors market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Highlights:

The rising demand for pressure sensors in automotive and medical applications is primarily driving the market. The growing applications of pressure sensors in consumer electronics and advancements in MEMS (Micro-electromechanical systems) are fuelling the market growth. However, the intense pricing structure of pressure sensors is hampering the market growth.

In the area of automotive, pressure sensors help in measuring the pressure of various media and thus help in aiding support engine management and safety systems. In diesel engines, pressure sensors help in monitoring air volume and exhaust gas pressure at exhaust gas recirculation (EGR) systems, thereby increasing the efficiency of the engine. High accuracy pressure sensors are used in automobiles for altitude correction when driving at high altitudes. In addition, they are also used in airbag systems, air-conditioning, tire pressure monitoring and many others. Favorable government regulations such as TREAD Act of the U.S. regarding use of pressure sensors in tire monitoring systems are fuelling the market growth. Medical is another major area where the demand for pressure sensors is on the rise. Devices which measure blood pressure monitoring & ventilators, respiration & sleep apnea require pressure sensors which are driving the demand for pressure sensors.

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Major Key Players

Honeywell International Inc. (U.S.),
ABB (Switzerland),
NXP Semiconductors (the Netherlands),
Infineon Technologies (Germany),
Emerson Electric (U.S.),
General Electric (U.S.),
Siemens AG (Germany),
STMicroelectronics (Switzerland),
Robert Bosch GmbH (Germany),
Texas Instruments (U.S.),
MRON Corporation (Japan)
Some of the key innovators in this Market market are Denso Corporation (Japan), TE Connectivity (Switzerland), Continental AG (Germany), Aptiv PLC (U.K), Sensata Technologies Holding PLC (U.K), Pricol Ltd (India), Taiwan Semiconductors (Taiwan), Renesas Corporation (Japan), Samsung Electronics (South Korea), Sony Corporation (Japan), Toshiba Corporation (Japan) and many others.

According to MRFR, the global Pressure Sensor Market is estimated to reach USD 12 billion with CAGR 6% through the forecast period 2023

Industry Updates

In January 2019, a team of researchers in China has developed a pressure sensor that has ultra-high sensitivity and fast response time which is capable of real-time monitoring of pulse waves and can act as an artificial skin for robotic hands to detect weak pressure changes.

PCB Piezotronics Inc., a subsidiary of MTS Systems Corp., has launched the smallest ICP piezoelectric, pressure sensor which has integral lead wires.

Silicon Microstructures Inc., a leading developer and manufacturer of MEMS-based pressure sensors, has launched SM933X series of ultra-low pressure sensors that are highly sensitive and can be utilized for HVAC, medical, and industrial applications.

Regional Analysis

Geographically, the global pressure sensors market is segmented into four major regions such as North America. Europe, Asia Pacific (APAC) and the rest of the world. The Asia Pacific region commands the maximum share of the global pressure sensors market owing to the increased deployment of advanced pressure sensors for automated storage and retrieval systems and rapid expansion of the end use industries in this region. Rapid technological advancement and easy adoption of technologically advanced solutions to support the automation of crucial factors in various industries are propelling the expansion of the pressure sensor market in the North America region. Recent advancements in microelectromechanical technology and increased adoption of this technology across various industrial sectors coupled with increased research and development activities are fueling the growth of the pressure sensors market in the Europe region.

Segmentation:

The global pressure sensor market is segmented on the basis of product type, technology, vertical, and region. Based on product type, the pressure sensor market has been segmented into absolute pressure sensors, differential pressure sensors, gauge pressure sensors, vacuum pressure sensors, and others. Based on technology, the global pressure sensor market has been segmented into piezoresistive pressure sensors, capacitive pressure sensors, electromagnetic pressure sensors, optical pressure sensors, and many others. Based on vertical, the global pressure sensors market has been segmented into aviation, automotive, medical, marine, Oil & gas, consumer electronics, medical, and others.

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Intended Audience

Raw material suppliers
Component manufacturers
Original equipment manufacturers (OEMs)
Integrated device manufacturers (IDMs)
Technology, service, and solution providers
System integrators
Technology investors
Market research and consulting firms
LIST OF TABLES

Table 1 Global Pressure Sensor Market: By Region, 2017-2023

Table 2 North America Pressure Sensor Market: By Country, 2017-2023

Table 3 Europe Pressure Sensor Market: By Country, 2017-2023

Table 4 Asia Pacific Pressure Sensor Market: By Country, 2017-2023

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LIST OF FIGURES

FIGURE 1 Global Pressure Sensor Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Pressure Sensor Market

FIGURE 4 Value Chain of Global Pressure Sensor Market

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