USD 17.81 billion
Global Pressure Sensor Market Size, Share, Growth Analysis, By Type(Wired and Wireless), By Technology(Piezoresistive, Electromagnetic), By Application(Automotive, Oil & Gas) - Industry Forecast 2024-2031
Report ID:
SQMIG45N2019 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
94 |
Figures:
76
Global Pressure Sensor Market Insights
Global Pressure Sensor Market size was valued at USD 17.81 billion in 2019 and is poised to grow from USD 18.59 billion in 2023 to USD 26.24 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
A pressure sensor is a sensor that detects pressure and transforms it into an electronic signal, the strength of which is dependent on the amount of pressure exerted. It gathers, records, and transmits data that is used to evaluate a device's performance. It uses silicon-wafer-based IC fabrication technology. It keeps an eye on and manages pressure, usually of gases and liquids. It monitors a variety of pressures, including gauge, absolute, vacuum, and differential pressure, among others. In numerous industries, including automotive, industrial, aviation, biomedical testing, air conditioning, and hydraulic measures, pressure sensors are utilized extensively.
In many process applications, including hydraulics and pneumatics, pressure sensors are used to track relative system pressure. Due to the growing number of applications in sectors including aerospace, automotive, healthcare, consumer goods, etc., these sensors have experienced tremendous expansion over time. For instance, the Korea Advanced Institute of Science and Technology (KAIST) created a very sensitive wearable pressure sensor in December 2019 for applications involving health monitoring. It has the ability to diagnose diseases early.
US Pressure Sensor Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Wired
Fastest Growth
Wired
Growth Rate
4.4% CAGR
Global Pressure Sensor Market ($ Bn)
Country Share for North America Region (%)
Global Pressure Sensor Market Size by Type ($ Bn)
Global Pressure Sensor Market Size by Type (%)
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Global Pressure Sensor Market Segmental Analysis
Global Pressure Sensor market is segmented based on type, technology, application and region. Based on the type, the Pressure Sensor Market is segmented into wired and wireless. Based on technology, the Pressure Sensor Market is segmented into piezoresistive, electromagnetic, capacitive, resonant solid-state, optical, others. Based on the application, the Pressure Sensor Market is segmented into automotive, oil & gas, consumer electronics, medical, industrial, and others. Based on the region, the Pressure Sensor Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Pressure Sensor Market Analysis by Type
Based on the type, the market is segmented into wired and wireless. In 2022, the wired market segment held a commanding market share, accounting for more than 85% of global sales. There are several types of wired pressure sensors, including photoelectric, capacitive, and inductive. The market for wired pressure sensors is predicted to increase in the industrial, automotive, and other sectors over the course of the projection period as a result of their lower radio frequency interference, smaller size, manufacturer compatibility, and less expensive installation characteristics. Another factor boosting the segment's growth is a wired pressure sensor's lower power consumption.
Throughout the projected period, the wireless segment is anticipated to develop at the fastest rate. The advantages of wireless pressure sensors, including their portability, increased safety, and cost-effectiveness, are anticipated to fuel the segment's expansion. Throughout the forecast period, the sector growth is anticipated to be fueled by the expanding use of wireless pressure sensors in applications such as consumer goods, industrial automation & manufacturing, air compressor monitoring, and pool pump systems. The wireless pressure sensor market is expanding due to self-contained, wellhead pressure, battery-powered monitoring, and casing pressure monitoring solutions.
Global Pressure Sensor Market Size by Type, 2023 (%)
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Global Pressure Sensor Market Regional Insights
In 2022, North America & Asia-Pacific regions held significant share in the global Pressure Sensor market. In 2022, the Asia Pacific region held a commanding position in the pressure sensor market, contributing more than 38.0% of global sales. The mass manufacture of electronic components and increased R&D expenditures are both responsible for the segment's expansion. The demand for pressure sensors in this area is being driven by the rising demand for consumer electronics like tablets, wearable technology, and smartphones. A sizable portion of the regional pressure sensor market is contributed by China and India. China has a developed economy with several commercial options. The Danfoss Group, a leader in engineering and software technologies, has made significant investments in the pressure sensor industry and is predicted to hasten the expansion of the pressure sensors market in China.
Throughout the projection period, North America is anticipated to become the regional market with the fastest rate of growth. Due to the strong demand for pressure sensors in TPMS and EGR system applications in the automotive sector, the North American regional market is anticipated to expand. One of the key factors fueling the market's expansion is the presence of important players in the area. The market growth in this region is also quickening as a result of the rising demand for pressure sensors in sectors like oil & gas, petrochemical, and medical.
Global Pressure Sensor Market By Region, 2024-2031
- Largest
- Fastest
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Global Pressure Sensor Market Dynamics
Pressure Sensor Market Driver
- An important driver of the market's expansion is the growing adoption of the Internet of Things (IoT). The creation of smart factories, towns, and households is being revolutionized by pressure sensors. Hence, it is projected that the rise in IoT-connected devices will spur market expansion. Moreover, among the key drivers propelling the pressure sensors market globally are the rise in industrial automation and the rising need for smaller consumer electronics, including wearables and IoT-connected gadgets.
- There will likely be 30 worldwide smart cities by 2025, with half of them likely to be in North America and Europe due to the numerous smart city initiatives and projects already under way. These actions are supported by international investments, which the OECD estimates will total around USD 1.08 trillion between 2010 and 2030 for all urban city infrastructure projects. The demand is anticipated to be driven by the investment in digitized infrastructure, which would increase the need for asset security.
Pressure Sensor Market Restraint
- High cost, technical complexity, limited accuracy and durability are some of the restraints of the market. The cost of pressure sensors can be relatively high, which can be a limiting factor for some potential customers or applications. Technical complexity: Pressure sensors require a certain level of technical expertise to install and operate, which can be a challenge for some users. Limited accuracy: While pressure sensors have become increasingly accurate over time, they may still fall short of some applications' needs. Limited durability: Pressure sensors may be susceptible to wear and tear, especially in harsh or extreme environments, which can limit their useful life.
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Global Pressure Sensor Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Pressure Sensor Market Top Player’s Company Profiles
- Honeywell International Inc.
- Robert Bosch GmbH
- ABB Ltd.
- Analog Devices, Inc.
- Infineon Technologies AG
- Emerson Electric Co.
- STMicroelectronics N.V.
- NXP Semiconductors N.V.
- TE Connectivity Ltd.
- Denso Corporation
- Siemens AG
- Schneider Electric SE
- Continental AG
- Omron Corporation
- Texas Instruments Incorporated
- First Sensor AG
- Sensata Technologies, Inc.
- Keller AG für Druckmesstechnik
- WIKA Alexander Wiegand SE & Co. KG
- Panasonic Corporation.
Pressure Sensor Market Recent Developments
- In August 2022, Positek introduced a novel subsea pressure transmitter for use in marine, offshore, and underwater applications. Positek Limited has created a unique pressure transmitter to detect gas and liquid pressure in submerged sensors and equipment used in marine and offshore applications.
- In August 2022, Legacy displacement sensors are being replaced by NewTek Modern LVDTs because they are sometimes too big for applications requiring a small footprint and have onerous electrical requirements that waste energy and result in high power consumption.
Global Pressure Sensor Key Market Trends
- Increasing demand from automotive industry: The automotive industry is a major consumer of pressure sensors, as they are used in a variety of applications such as engine management systems, tire pressure monitoring systems, and brake systems.
- Growing adoption of IoT: With the rise of the Internet of Things (IoT), pressure sensors are being used more frequently in applications such as smart homes, wearables, and industrial automation.
- Advancements in technology: There have been several advancements in pressure sensor technology, including the development of micro-electro-mechanical systems (MEMS) and wireless pressure sensors.
- Rising demand from healthcare industry: Pressure sensors are increasingly being used in healthcare applications, such as patient monitoring systems and medical devices.
- Emergence of Industry 4.0: The fourth industrial revolution (Industry 4.0) has led to the increased use of pressure sensors in smart factories and industrial automation applications.
- Increasing demand from aerospace and defense industry: The aerospace and defense industry is a major consumer of pressure sensors, as they are used in a variety of applications such as flight control systems, hydraulic systems, and engine management systems.
- Growing focus on environmental monitoring: Pressure sensors are being used more frequently in environmental monitoring applications, such as weather monitoring and air quality monitoring.
Global Pressure Sensor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Pressure Sensor market is segmented based on type, end-user and region. Based on the type, the wired segment of the market is projected to hold the most lucrative share. Based on the application, the automotive segment of the market is projected to hold the most lucrative share. Based on the region, the North America region of the market is projected to hold the most lucrative share.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.81 billion |
| Market size value in 2031 | USD 26.24 billion |
| Growth Rate | 4.4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Pressure Sensor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Pressure Sensor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Pressure Sensor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Pressure Sensor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Pressure Sensor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Pressure Sensor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Pressure Sensor Market Report Snapshots
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