Global Market for Pressure Sensor is Anticipated to grow at a Significant Pace i.e., USD 24.52 Billion during the Forecast Period 2021-2027

Published Date: Jul, 2021

The global pressure sensor market is expected to witness a CAGR of 9.2%% during the forecast period. The factors influencing the growth of the pressure sensor market are the developments in microelectromechanical (MEMS)sensors, rise in demand from consumer electronics, medical and automotive industries, strict passenger safety regulations, and the increasing adoption of the pressure sensors in smartphones during the COVID-19 pandemic, thus boosting the growth of the global pressure sensor market. However, the high cost of devices will hinder the growth of the pressure sensor market to a certain extent. Nevertheless, the surge in trends towards IoT and increase in the demand for sensors in the advancement of smart cities is anticipated to provide promising opportunities in the global pressure sensor market.

Honeywell announced the launch of a new series of high-performance, high-value, media isolation stainless steel pressure sensors (MIP) for the industrial and HVAC markets. The sensors are designed to withstand extreme temperatures and resist corrosion

The COVID-19 pandemic has severely impacted the global pressure sensor market as there is reduced demand from industries such as automotive, industrial, and consumer electronics. The strict lockdowns have halted the business operations by disrupting the supply chain and lack of labor force, thus hampering the market growth of the global pressure sensor market.

Browse 73 market data Tables and 47 Figures spread through 300 Pages and in-depth TOC on Pressure Sensor Market by Product Outlook (Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, Sealed Pressure Sensor, and Vacuum Pressure Sensor), by Type (Wired and Wireless), by Technology (Piezoresistive Pressure Sensor, Electromagnetic Pressure Sensor, Optical Pressure Sensor, Resonant Solid-State Pressure Sensor, Capacitive Pressure Sensor, and Others), by Output (Analog and Digital), by End-Use Industry (Automotive, Medical, Industrial, Utility, Aviation, Oil & Gas, Marine, Consumer Electronics, and Others), and Region - Global Forecast to 2027"

The automotive end-user industry in the pressure sensor market is expected to hold a significant share during the forecast period 2021-2027.

The automotive end-use industry will witness the largest share over the forecast period owing to the use of pressure sensors in the automotive industry according to the mandates laid down by the government such as reduce emissions and fuel consumption, decrease in air pollution, safety concerns of passengers, etc. The pressure sensors are used in the automotive segment for automatic transmission, tire pressure monitoring, and engine management applications. They are mostly used in lightweight vehicles for smooth functioning and safety.

Global Pressure Sensor Market Segmentation Analysis

Segment

Categorization

Leading Category

Product Outlook

Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, Sealed Pressure Sensor, and Vacuum Pressure Sensor

Absolute Pressure Sensor (Largest)

Differential Pressure Sensor (High CAGR)

Type

Wired and Wireless

Wired (Largest)

Wireless (Fastest)

Technology

Piezoresistive Pressure Sensor, Electromagnetic Pressure Sensor, Optical Pressure Sensor, Resonant Solid-State Pressure Sensor, Capacitive Pressure Sensor, and Others

Piezoresistive Pressure Sensor (Largest)

Output

Analog and Digital

Analog (High CAGR)

End-Use Industry

Automotive, Medical, Industrial, Utility, Aviation, Oil & Gas, Marine, Consumer Electronics, and Others

Automotive (Largest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

 Asia-Pacific (Largest)

North-America (Largest)

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“APAC is expected to hold a significant share of pressure sensor market by 2027.”

APAC is accounted to have the largest share in the global pressure sensor market by 2027 as China, India, South Korea, and Japan are contributing to the growth of the pressure sensor market in the region. The rising demand for consumer electronics such as tablets, wearable devices, smartphones and the growing development in the automotive market to expand manufacturing units will contribute to maximizing the revenue of the pressure sensor market in the region.

Some of the key players operating in the pressure sensor market: ABB, Honeywell International Inc., Bosch Sensortec GmbH, Emerson Electric Co., Amphenol Corporation, Sensata Technologies, Inc, BD|SENSORS GmbH, TE Connectivity, Siemens, and GfG Gas Detection UK Ltd.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Product Outlook, Type, Technology, Output, End-Use Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

ABB, Honeywell International Inc., Bosch Sensortec GmbH, Emerson Electric Co., Amphenol Corporation, Sensata Technologies, Inc, BD|SENSORS GmbH, TE Connectivity, Siemens, and GfG Gas Detection UK Ltd.

Global Pressure Sensor Market Coverage

Product Outlook Insight and Forecast 2015-2027

  • Absolute Pressure Sensor
  • Gauge Pressure Sensor
  • Differential Pressure Sensor
  • Sealed Pressure Sensor
  • Vacuum Pressure Sensor

Type Insight and Forecast 2015-2027

  • Wired
  • Wireless

Technology Insight and Forecast 2015-2027

  • Piezoresistive Pressure Sensor
  • Electromagnetic Pressure Sensor
  • Optical Pressure Sensor
  • Resonant Solid-State Pressure Sensor
  • Capacitive Pressure Sensor
  • Others

Output and Forecast 2015-2027

  • Analog
  • Digital

End-Use Industry Insight and Forecast 2015-2027

  • Automotive
  • Medical
  • Industrial
  • Utility
  • Aviation
  • Oil & Gas
  • Marine
  • Consumer Electronics
  • Others

Geographical Segmentation

Pressure Sensor Market by Region

North America

  • By Product Outlook
  • By Type
  • By technology
  • By Output
  • By End-Use Industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product Outlook
  • By Type
  • By technology
  • By Output
  • By End-Use Industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product Outlook
  • By Type
  • By technology
  • By Output
  • By End-Use Industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product Outlook
  • By Type
  • By technology
  • By Output
  • By End-Use Industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Pressure Sensor is Anticipated to grow at a Significant Pace i.e., USD 24.52 Billion during the Forecast Period 2021-2027