The global pressure sensor market size is expected to be worth around US$ 30.8 billion by 2030, according to a new report by Vision Research Reports.
The global pressure sensor market size was valued at US$ 18.5 billion in 2020 and is anticipated to grow at a CAGR of 5.6% during forecast period 2021 to 2030.
|Market Size||US$ 30.8 billion by 2030|
|Growth Rate||CAGR of 5.6% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, type, technology, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||AlphaSense; City Technology Ltd.; Dynament Ltd.; Figaro Engineering Inc.; Membrapor AG.; Nemoto & Co., Ltd.; Robert Bosch LLC.; ABB Ltd.; Siemens AG.; and GfG Europe Ltd|
The growth can be attributed to the growing application of pressure sensors in automotive, aviation, and consumer electronic appliances. The advancements in Microelectromechanical Systems (MEMS) technology and its rapid adoption in connected devices are expected to create opportunities for market growth over the forecast period.
Furthermore, increasing consumer preference for compact electronic appliances is creating the need for MEMS pressure sensors. MEMS is the technology that miniaturizes electro-mechanical and mechanical elements that are made using microfabrication techniques. Various companies are focused on providing MEMS pressure sensors for selective industries. For instance, Robert Bosch is providing MEMS pressure sensors for the consumer and automotive industries while Honeywell and NXP are focusing on automotive, medical, industrial, and aviation verticals.
By Product Analysis
The absolute pressure sensor segment dominated the market in 2020 and accounted for more than 44% share of the global revenue. An absolute pressure sensor is a closed system that works by referencing a perfect vacuum and creates pressure readings that are unaffected by the atmospheric pressure.
The differential pressure sensor segment is anticipated to register the highest growth rate over the forecast period. Differential pressure sensors are used in industrial environments where a pressure difference is utilized to determine the flow of liquids and gases.
By Type Analysis
The wired segment dominated the market in 2020 and accounted for more than 86.0% share of the global revenue. A wired pressure sensor is available in different technologies such as photoelectric, capacitive, and inductive.
The wireless segment is expected to register the fastest growth over the forecast period. Wireless pressure sensors act as an effective replacement for traditional wired sensors.
By Technology Analysis
The piezoresistive segment dominated the market in 2020 and accounted for more than 27.0% share of the global revenue. Piezoresistive pressure sensors are used in a wide range of aerospace and industrial applications owing to their robustness, rapid response time, and high frequency.
The electromagnetic segment is anticipated to register the fastest growth over the forecast period. A growing focus on the property of converting applied pressure into an electrical signal by the electromagnetic pressure sensor is expected to drive the demand for these sensors in electrical applications over the forecast period.
By Application Analysis
The automotive segment dominated the market in 2020 and accounted for more than 26.0% share of the global revenue. Pressure sensors are used in electric cars to stop the doors from catching fingers.
The industrial segment is anticipated to register the fastest growth over the forecast period. Differential pressure sensors are used for monitoring process flows where fluid needs to pass through barriers such as a filter.
By Regional Analysis
The Asia Pacific regional market dominated the pressure sensor market in 2020 and accounted for over 38.0% share of the global revenue. The increasing demand for consumer electronics such as tablets, wearable devices, and smartphones is driving the demand for pressure sensors in this region.
North America is expected to emerge as the fastest-growing regional market over the forecast period. The North American regional market is projected to witness growth owing to the high demand for pressure sensors in TPMS and EGR system applications in the automotive segment.
City Technology Ltd.
Figaro Engineering Inc.
Nemoto & Co., Ltd.
Robert Bosch LLC.
GfG Europe Ltd
Absolute Pressure Sensors
Differential Pressure Sensors
Gauge Pressure Sensors
Oil & Gas
Middle East & Africa
The Pressure Sensor market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Pressure Sensor market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Pressure Sensor market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Pressure Sensor market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Pressure Sensor market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Pressure Sensor capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Pressure Sensor by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Pressure Sensor market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Pressure Sensor market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Pressure Sensor market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Pressure Sensor industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Pressure Sensor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Pressure Sensor market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Pressure Sensor market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Pressure Sensor market. These factors have benefited the growth of the global market for Pressure Sensor. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Pressure Sensor. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Pressure Sensor are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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