Pressure Sensors Market Assessment – Latest Global Insights on Trends and Challenges

Market Highlights:

A pressure sensor is used for pressure measurement of gases or liquids. The sensors make use of IC fabrication technology made on silicon wafers, which helps in monitoring and controlling the pressure of gases and liquids. These sensors are capable of measuring different types of pressures such as vacuum, absolute, gauge, and differential pressure.

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.

In May 2018, Silicon Microstructures Inc. launched SM933X Series ultra-low pressure sensors which are cable of measuring sensitive pressure in HVAC, medical, and industrial applications. In medical, these sensors are used for CPAP (Continuous Positive Airway Pressure) flow sensing.

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Major Key Players

Some of the key players in the global pressure sensors market are 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) and many others.

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

Segmentation

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

Regional Analysis

The global pressure sensors market is studied for North America, Europe, Asia Pacific and rest of the world. Asia Pacific is expected to hold major market share through the forecast period. The increase in deployment of pressure sensors for automated storage and retrieval systems and raising awareness about the advantages of automated systems are driving the market in this region. However, North America and Europe are anticipated to show significant growth rate during the forecast period. The advancements in MEMS (Microelectromechanical systems) technology and their adoption across connected devices are also driving the market in this region. The demand for high-efficient and cost-effective products are driving demand for global pressure sensor market.

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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