“Pressure sensor market is expected to grow at CAGR of 8.9 % from 2020 to 2025.”
The global pressure sensor market is expected to grow from USD 13.6 billion in 2020 to USD 20.8 billion by 2025; it is expected to grow at a CAGR of 8.9% during 2020–2025. Key factors fueling the growth of this market include advancements in microelectromechanical (MEMS) sensors, increase in demand from automotive and medical industries, and stringent passenger safety regulations. Increasing use of pressure sensors in smartphones is also expected to support in growth of pressure sensor market, in the midst of COVID-19.
“Differential pressure sensors to witness the highest CAGR in pressure sensor market during the forecast period.”
The market for differential pressure sensors is expected to grow at the highest CAGR within the global pressure sensor market during the forecast period, as these sensors are at the core of numerous devices that measure flow, liquid level, and pressure of industrial processes, supported by its usage to measure air, acids, bases, compressed gases, water, steam, pressure drops across oil filters or air filters, fluid levels, and flow rates.
“Optical technology to witness the highest CAGR in pressure sensor market during the forecast period.”
The market for optical technology is expected to grow at the highest CAGR within the global pressure sensor market during the forecast period. Optical pressure sensors are resistant to electromagnetic interference and can work very well in applications where other pressure sensing technologies fail due to such disturbances. These pressure sensors perform well in the presence of chemicals or explosive materials as well.
“Automotive on-vehicle applications to hold the largest share in the pressure sensor market during 2020–2025.”
The market for automotive on-vehicle applications to hold the largest share during the forecast period, which can be attributed to the usage of pressure sensor for automotive on-vehicle for several applications including oil pressure in power steering measurement, intake manifold pressure measurement, fuel pressure measurement in tank, nitrous pressure measurement, brake pressure measurement, differential measurements, and tire pressure monitoring system.
“Automotive end-user industry to hold the largest share in the pressure sensor market during 2020–2025.”
The market for automotive end-user industry to hold the largest share during the forecast period, owing to the increasing usage of pressure sensors in the automotive industry to comply with the mandates laid down by governments. For instance, in the engine management systems, to enhance the efficiency of car engines, pressure sensors have to accurately monitor engine conditions, such as air volume and exhaust gas pressure of the EGR system.
“APAC is expected to hold a largest share of pressure sensor market by 2025.”
APAC accounted for the largest share of the pressure sensor market by 2025. China, India, South Korea, and Japan are the major contributors to the growth of the pressure sensor market in APAC. The pressure sensor market in Asia Pacific is likely to be driven by the evolving automobile and industrial manufacturing companies and the rising demand for pressure sensors from the overseas markets of North America and Europe.
Breakdown of profiles of primary participants:
- By Company: Tier 1 = 25%, Tier 2 = 40%, and Tier 3 = 35%
- By Designation: C-level Executives = 35%, Directors = 25%, Managers= 40%
- By Region: North America = 45%, Europe = 20%, APAC = 25%, and RoW = 10%
Major players profiled in this report:
- Honeywell (US)
- ABB (Germany)
- Emerson (US)
- Amphenol (US)
- Sensata Technologies (UK)
- BD Sensors (Germany)
- First Sensor (Germany)
- Microsensor Co. Ltd. (China)
- Quartzdyne (US)
- Crane Co. (US)
This report offers detailed insights into the pressure sensor market, by function, product type, technology, application, end-user industry, and region. By function, the pressure sensor market has been segmented into pressure sensing, altitude sensing, flow sensing, and depth sensing. By technology, the market has been divided into piezoresistive, capacitive, resonant, electromagnetic, optical, and others. By application, the pressure sensor market has been segmented into automotive on-vehicle, medical devices, HVAC, process controls, test & measurement, and others. By end-user industry, the pressure sensor market has been segmented into automotive, medical, industrial, utility, aviation, oil & gas, marine, consumer electronics, and others. The study forecasts the size of the market in 4 regions?North America, Europe, APAC, and RoW.
Reasons To Buy the report
The report would help market leaders/new entrants in this market in the following ways:
- This report segments the pressure sensor market comprehensively and provides the closest approximations of the overall market’s size and its subsegments (across different function, product type, technology, application, end-user industry, and regions).
- The report would help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business.
- The competitive landscape section includes competitor ecosystem and product launches, contracts, and partnerships carried out by major market players.