Pressure Sensor Market Size, Share, Trend, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Pressure Sensor Market


The global Pressure Sensor market size is projected to reach US$ 12416.68 million by 2026, from US$ 9265.51 million in 2020, at a CAGR of 5% during 2021-2026. A pressure sensor is an electronic device used for pressure measurement of gases or liquids. They are widely used for controlling and monitoring applications. The demand for pressure sensors is expected to grow substantially owing to the increasing government regulations and rising adoption of the sensors in automotive and medical applications. Technological developments have led to the reduction in the size and cost of pressure sensors, which, in turn, is expected to open new avenues for the market.

The increasing demand for consumer electronic applications such as cellular phones, Personal Digital Assistant (PDAs), portable computers, and laptops, are expected to drive the market over the forecast period. Moreover, pressure sensors are widely used in the automotive industry in equipment such as Tire Pressure Monitoring Systems (TPMS), engine health management systems, and exhaust gas recirculation systems. The growing production of vehicles worldwide is positively influencing the demand for automotive pressure monitoring devices.

Microelectromechanical Systems (MEMS) are expected to open new growth opportunities for the market over the forecast period owing to their wide usage in the semiconductor industry. MEMS consist of several nanoelectromechanical components embedded in semiconductor chips. The demand for these sensors is gaining momentum owing to their wide adoption in medical devices for measuring barometric pressure, in vivo blood pressure, ex vivo blood pressure, Intraocular Pressure (IOP), and liquid or gas flow.

The key medical devices using pressure sensors include respirators, ventilators, spirometers, oxygen concentrators, and oxygen tanks. The low-cost MEMS pressure sensors are gaining popularity owing to the growing demand for portable healthcare monitoring products.

The shift toward miniaturized systems, printed sensor manufacturing, and flexible electronics for consumer markets is expected to boost the market. However, an increase in the adoption of wireless technology with Internet of Things (IoT) might hamper the demand for wired pressure sensors over the forecast period.

Market Segmentation, Outlook & Viewpoint: Global Pressure Sensor Market

Product Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Absolute Pressure Sensors
  
Differential Pressure Sensors
  
Gauge Pressure Sensors

Type Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Wired
  
Wireless

Technology Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Piezoresistive
  
Electromagnetic
  
Capacitive
  
Resonant Solid-State
  
Optical
  
Others

Application Market Segmentation & Outlook (Revenue, USD Million; 2014 - 2025)

  
Automotive
  
Oil & Gas
  
Consumer Electronics
  
Medical
  
Industrial
  
Others

Key Players, Recent Developments & Regional Insights: Global Pressure Sensor Market

Based on product, pressure sensors are classified into absolute, differential, and gauge. The absolute pressure sensor segment was the dominant segment and accounted for 44.8% of the global market share in 2017. The major growth driver for theegment over the forecast period is the increase in their demand in industrial applications for the measurement of vacuum levels.

Whereas the differential pressure sensor segment is expected to witness growth owing to the rise in the demand in medical industries given their high accuracy and resolution in measuring respiratory flow. Moreover, owing to their wide and diverse range of applications, the adoption of differential pressure sensors is expected to increase over the forecast period.

Type Insights

Pressure sensors are classified into two major types i.e. wired and wireless. The wired pressure segment accounted for 86.4% of the global market share in 2017. The increasing demand for wired pressure sensors in industrial and automotive sectors owing to their lower radio frequency interference, smaller size, low power consumption, compatibility between systems of different manufactures, and their low cost as compared to wireless pressure sensors are expected to drive the growth of the wired pressure sensor segment over the forecast period.

Whereas the higher adoption of consumer products, industrial automation, and air compressor monitoring are expected to drive the growth of the wireless pressure sensor segment over the forecast period. APAC and Latin America are anticipated to emerge as the fastest-growing regional markets for wireless segment.

Technology Insights

The market can be classified on the basis of technology into piezoresistive, electromagnetic, capacitive, resonant solid-state, and optical. The piezoresistive segment accounted for 25.9% of the global market share in 2017. The rising use of MEMS sensors in consumer electronics and wearable devices is boosting market growth.

The capacitive segment is predicted to gain substantial market share over the forecast period owing to the wide range of applications of capacitive sensors. Moreover, the capacitive technology is extensively used in touch sensing, motion sensing, and position sensing applications. The technology finds applications in capacity measurement and is increasingly being used in production facilities and commercial automation industry. The use of capacitive pressure sensors in tablets and touchphone displays is expected to propel the growth of the capacitive segment.

Application Insights

On the basis of application, the market is categorized into automotive, consumer electronics, oil & gas, industrial, medical, and aeronautics, among others. The consumer electronics application segment accounted for over 17.0% of the global market share in 2017. The increasing use of MEMS devices in consumer electronics and wearable devices is boosting the segment growth.

The automotive application segment is expected to witness high growth over the forecast period owing to the rise in the use of sensors in tire pressure measurement systems, vehicle automation, and the high demand for concept cars around the globe which is boosting the automotive sector. The sensors further help in emission control, battery control, and occupant detection. The automotive application segment accounted for the largest share in 2017 at 25.3% of the overall market revenue.

Regional Insights

The North American market accounted for over 29.7% of the global revenue in 2017. The presence of numerous semiconductor companies, sensor manufacturers, and leading system suppliers in North American countries are propelling the demand in the region.

The Asia Pacific region accounted for 34.8% of the overall revenue in 2017 on account of growth in areas such as automotive, healthcare, and industrial sectors. The rising demand for smart technologies in emerging economies such as China, South Korea, and India is predicted to spur the regional demand for these sensors. The growth in the industrial sector in Brazil is expected to be a major driver for the growth in Latin America.

Pressure Sensor Market Share Insights

Prominent players dominating the market include 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.

Sensor manufacturers focus on investing in R&D facilities with an aim to boost technology development. Key players have employed innovative concepts and ideas, improved their manufacturing techniques, and enhanced their products and profitability to gain a competitive edge. They have adopted new product development as their key strategy to cater to the demand of end users. Furthermore, they have also undertaken acquisitions and expansion to improve their product offerings and boost the production process as well as to extend their reach into different geographies.

Key Insights Covered: Global Pressure Sensor Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Pressure Sensor industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Pressure Sensor industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Pressure Sensor industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Pressure Sensor industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Pressure Sensor industry.

Research Methodology: Global Pressure Sensor Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other