Pressure sensor is a sensing device that is used to measure pressure, typically of fluids and gases, and convert it into an equivalent analog electrical signal.Pressure sensor generates a signal in response to the pressure being imposed upon the device. Although electrical signal is the most popular type of notification given by pressure sensors,some of the pressure sensors also indicate optical signals, visualsignals and audio signals. Some of the most popular technologies used in pressure sensors include piezoresistive, electromagnetic, resonant solid state, capacitive and opticalamong others. Pressure sensors are used across various end-use segments for applications such as altitude measurement, pressure/force sensing, depth measurement, flow sensing and others. Some of the most prominent applications of pressure sensors include automotive, healthcare, consumer electronics and industrial manufacturing and processing.
The most significant factor fueling the pressure sensor market growth is the steadily rising automotive industry worldwide. Pressure sensors are used to monitor engine oil, coolant pressure and to regulate the engine power in case of acceleration and braking. With the ever rising demand for automotive vehicles worldwide, the pressure sensors market is estimated to continue witnessing robust growth throughout the forecast period. Another major factor governing the market growth is enforcement of regulations over installing tire pressure monitoring system (TPMS) in vehicles. This is another factor estimated to bolster the market growth. Nevertheless, high installation and replacement costs is major challenge for the market.
The report titled “Global Pressure Sensors Market- Growth, Share, Opportunities and Competitive Analysis, 2021 – 2029” offers strategic insights into the global pressure sensorsmarket along with the market size and estimates for the duration 2019 to 2029. The report provides actual market data for years 2018 to 2020; whereas the forecast is provided for the period of 2021 to 2029. Further, the said research study covers in-depth analysis of multiple market segments based on technology, application and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2019 & 2029. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities. In addition, the report covers a section providing analysis on impact of market drivers and restraints over the forecast period.
In order to help strategic decision makers, the report covers section wherein the most attractive segments of the market have been analyzed and discussed. The report also includes competitive profiling of the leading pressure sensorsmanufacturers, their SCOT (Strength, Challenges, Opportunities and Weaknesses) analysis, market positioning and key developments. Some of the major players profiled in the report are ABB Ltd., Analog Devices, Bosch Sensortec, Delphi Corporation, Continental AG, DENSO Corporation, Infineon Technologies AG, Honeywell International Inc., Micronas Group, Melexis Microelectronic Integrated Systems N.V, OMRON Corporation, Sensata Technologies Inc., Siemens AG, KELLER UK, STMicroelectronics NV, TE Connectivity Ltd., Yokogawa Electric Corporationand others. The report also provides an overview of major strategies adopted by the leading players recognized in the market. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global pressure sensors market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above mentioned factors.
As of 2019, the overall pressure sensors market, on the basis of applications, is dominated by automotive segment. In 2019, the segment contributed to over 30% of the total revenue generated worldwide. Due to steadily rising automotive industry coupled with enforcement of regulations (such as tire pressure monitoring system), the automotive segment is estimated to retain its dominant position in the market throughout the forecast period. Industrial manufacturing and processing segment follows the automotive segment, in terms of revenue and penetration, of the overall market.
Consumer electronics segment is another promising applications of pressure sensors. Currently, the segment accounts for the fourth largest share, in terms of revenue of the overall pressure sensors market. With the rising advancement in smart devices, sensors are increasingly finding new applications in the segment. Due to increasing development in the overall consumer electronics segment (e.g. wearable devices), the segment is estimated to register the highest growth in the market during the forecast period.
As of 2019, the pressure sensors market worldwide is dominated by the Asia Pacific region. The segment contributed to more thanone third of the total revenue generated worldwide, in 2019. The most significant factor contributing to the large revenue share is strong automotive and industrial manufacturing and processing industry in the region. The market here is majorly backed by countries such as China, Japan, Taiwan, South Korea and India having strong automotive as well as industrial sector.Due to steadily rising automotive industry coupled with government regulations across different countries in the region, Asia Pacific is estimated to retain its dominant position in the market expanding with the highest CAGR through 2021 to 2029.
Asia Pacific is followed by Europe, in terms of revenue and penetration, in the overall pressure sensors market. The market in Europe is majorly backed by the Western Europe countries having large automotive, consumer electronics and industrial manufacturing and processing sector. Germany is among the largest markets for pressure sensors across the region, majorly due to strong consumer electronics, automotive and industrial manufacturing sector in the country. The market here is also driven by the existence of regulations for installing pressure sensors in automotive vehicles for tire pressure monitoring.Thus, the Europe pressure sensors market is projected to continue witnessing strong growth during the forecast period.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Pressure Sensors market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Technology
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Applications
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
