The market study covers a variety of related sectors, including services, technology, and applications, in addition to the main industrial categories. Furthermore, the worldwide Pressure Sensor Market research report presents market data in a manner that takes into account the evolution of new products from inception to launch.
Pressure Sensor Market Overview
The global Pressure Sensor Market size was estimated at USD 17.0 billion in 2023 and is projected to reach USD 29.2 billion in 2030 at a CAGR of 8.1% during the forecast period 2023-2030.
A pressure sensor serves as a highly significant and indispensable device that effectively detects and perceives pressure, subsequently transforming this physical phenomenon into a highly useful electric signal, whose magnitude is contingent upon the level of pressure exerted. By virtue of its innate capability to identify, quantify, and transmit relevant and valuable information, pressure sensors play an instrumental role in facilitating the comprehensive analysis and evaluation of the operational efficacy and performance of a given apparatus or system. Employing state-of-the-art integrated circuit (IC) fabrication technology, these sensors are meticulously manufactured and meticulously constructed on silicon wafers, thereby ensuring optimal precision and accuracy in their functioning.
The primary and overarching objective of a pressure sensor is to vigilantly and judiciously monitor and regulate the pressure levels, typically pertaining to gases and liquids. Furthermore, these sensors are also adept at measuring and quantifying diverse categories and variants of pressure, including but not limited to absolute, vacuum, gauge, and differential pressure. As a testament to their exceptional versatility and practicality, pressure sensors have garnered widespread and extensive utilization across multifarious and diverse domains and industries, most notably encompassing the domains of automotive engineering, manufacturing and production processes, aviation and aerospace technology, biomedical and healthcare measurements, air conditioning and climate control systems, as well as hydraulic and fluid pressure measurements.
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The global COVID-19 outbreak had a significant impact on the production and supply chain of the market that is being examined. The disruptions caused by this unprecedented event were substantial, leading to a multitude of challenges for businesses operating within this industry. However, there have been some positive developments in the post-COVID scenario, as labor shortages have started to improve. This improvement has allowed many Chinese packaging and testing plants to enhance their production capabilities, as they strive to restore normalcy in these uncertain times. As the situation gradually stabilizes, these efforts to increase production are expected to contribute towards the recovery of the market under study.
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Government regulations play a substantial role in the expansion of the pressure sensor market, particularly in relation to the automotive industry. In the United States, an enactment known as the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act has rendered the installation of tire pressure monitoring systems (TPMS) obligatory in all vehicles. TPMS sensors gauge tire air pressure and temperature, promptly notifying drivers within a time frame of twenty minutes upon identifying under-inflation of the tires. Furthermore, the US government mandates the inclusion of passenger airbags and side airbags, equipped with pressure sensors, in all commercial vehicles, thereby stimulating the market. Similarly, the European Union has stipulated regulations necessitating that all newly manufactured passenger car models (M1) be outfitted with a TPMS. Consequently, mounting concerns pertaining to road and human safety, as well as vehicle security, are expected to propel market growth. Moreover, the European Union has passed an act targeting zero-emissions vehicles, with the objective of reducing CO2 levels in the environment. In accordance with this act, passenger vehicles and freight vehicles weighing less than 3.5 tons must emit less than 50 g CO2 per km. Consequently, the adoption of electric vehicles in the Americas, Europe, and the APAC region has been stimulated, thereby presenting enhanced prospects for the automotive pressure sensor market.
Key Findings
• On the basis of type, Pressure sensors are devices that measure the pressure of a fluid or gas. The market is divided into three types of pressure sensors: absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. Absolute pressure sensors measure the pressure of a fluid or gas relative to a perfect vacuum. Gauge pressure sensors measure the pressure of a fluid or gas relative to atmospheric pressure. Differential pressure sensors measure the difference in pressure between two points in a fluid or gas system. Each type of pressure sensor has its own unique applications and advantages. Absolute pressure sensors are commonly used in applications where a reference point is needed, such as in altimeters or barometers.
• On the basis of technology, there are several types of sensors, including piezoresistive, electromagnetic, capacitive, resonant solid state, optical, and others. Piezoresistive sensors are based on the principle that the resistance of a material changes when it is subjected to mechanical stress or strain. These sensors are commonly used in pressure and force measurement applications. Electromagnetic sensors use the principle of electromagnetic induction to measure changes in magnetic fields. These sensors are commonly used in proximity and position sensing applications. Capacitive sensors use the principle of capacitance to measure changes in the electric field between two conductive surfaces. These sensors are commonly used in touch and proximity sensing applications.
• On the basis of application, the categorization is based on the industry or sector where the technology or product is used. The first category is automotive, which refers to the use of the technology or product in the automotive industry. This could include applications such as engine components, sensors, or infotainment systems. The second category is oil & gas, which suggests that the technology or product is used in the exploration, production, or transportation of oil and gas. This could include equipment for drilling, pipelines, or monitoring systems. The third category is consumer electronics, which implies that the technology or product is used in electronic devices that are intended for personal use. This could include smartphones, laptops, or gaming consoles.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. APAC is anticipated to assert its dominance over the pressure sensor market throughout the projected duration.
Pressure Sensor Market Regional Analysis
Asia Pacific to Dominate the Market
• APAC is anticipated to assert its dominance over the pressure sensor market throughout the projected duration.
• This ascendancy can be ascribed to the existence of prominent entities. China and Japan, being the principal contributors to this geographical area, hold the largest proportion of the overall pressure sensor market share in APAC.
Pressure Sensor Market Competitive Landscape
• ABB
• Amphenol
• Bd Sensors Gmbh
• Eaton
• Emerson Electric Co.
• Honeywell International Inc.
• INFINEON Technologies Ag
• Micro Sensor Co. Ltd
• Microchip Technology Inc.
• Nxp Semiconductor
• Qualcomm Technologies, Inc
• Quartzdyne, Inc.
• Renesas Electronics
• Sensata Technologies, Inc.
• Siemens Ag
• Stmicroelectronics
• TE Connectivity Ltd.
• Texas Instruments
• TT Electronics
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Pressure Sensor Market Recent Developments
• In 2021 May, BD SENSORS GmbH launched a DS5 electronic pressure switch that has been designed for use in mobile hydraulics and supports operational safety in mobile working machines such as cranes, excavators, and harvesters.
• In 2021 June, Finnish forest industry company UPM selected Emerson Electric Co. as the main instrumentation vendor for its new eucalyptus pulp mill constructed in central Uruguay. Emerson Electric Co.'s advanced measurement instrumentation, gas analytical solutions, and high-pressure control valves will be used to monitor and control the production process.
Reasons to Acquire in the Pressure Sensor Market
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Pressure Sensor Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
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Frequently Asked Questions
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