Pressure Sensors Market

Pressure Sensors Market by Applications (Medical, Automotive, Industrial, Aerospace and Defense, Consumer Electronics, Food and Beverage, and HVAC) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-1155
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 176
  • Format:
  • Pub. Date: Upcoming
  • Share:

The global pressure sensors market size was valued at USD 5457.4 million in 2020 and is expanding at a CAGR of 4.6% during the forecast period, 2021–2028. The growth of the market is attributed to the expanding applications across industries such as aerospace, automotive, healthcare, consumer goods, and others.
 

Pressure Sensors Market Key Takeaways


A pressure sensor is an electronic device that controls, detects, and monitors liquid or gas pressure and transforms it into an electrical signal. In many process applications, as well as hydraulics and pneumatics, pressure sensors are used to measure relative system pressure. Prior to the outbreak of COVID-19, pressure sensor manufacturers predicted that inventory levels will normalize in 2020, owing to increased smartphone and automobile sales, as well as increased use of smart manufacturing technologies. However, since the emergence of the illness, there has been a significant drop in demand for these sensors.

The Korea Advanced Institute of Science and Technology (KAIST), for example, created a highly sensitive wearable pressure sensor for health monitoring applications in December 2019. It has the ability to detect illnesses early on. The creation of smart homes and buildings, smart cities, and smart factories is being transformed by pressure sensors. Furthermore, with numerous smart city projects and initiatives in the works, it is predicted that by 2025, there will be about 30 worldwide smart cities, with half of them being in North America and Europe. These initiatives are backed up by worldwide investments, which the OECD estimates will total over USD 1 trillion between 2010 and 2030 for all urban infrastructure projects.

Melexis, for example, introduced a Pressure Sensing IC for Engine EVAP Systems in October 2019. The company's support for the growth of hybrid cars may be seen in the invention of a relative pressure sensor IC that can function in and monitor shallow pressures throughout automotive applications. As a key component of EVAP systems, the MLX90821 can detect even the tiniest vapor leaks.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising usage of the Internet of Things (IoT) is expected to fuel market growth in the coming years.
  • Increasing industrial automation and the growing need for smaller consumer products, such as wearables and IoT-connected devices, among others, are estimated to drive market expansion during the forecast period.
  • Growing need for digital infrastructure is projected to increase as a result of the investment in it, and thus push market growth during the forecast period.
  • While the growing use of pressure sensors in automated intelligent controls and wearable electronics results in greater shipments of these sensors, price erosion is limiting sales growth.
  • Technological transformation with a strong focus on improving safety, comfort, and entertainment, is anticipated to create immense opportunities for the market players.

Scope of the Report

The report on the global pressure sensors market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Pressure Sensors Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Medical, Automotive, Industrial, Aerospace and Defense, Consumer Electronics, Food and Beverage, and HVAC)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

ABB Ltd.; Bosch Sensortec GmbH; Honeywell International Inc.; Rockwell Automation, Inc.; and Siemens Building Technologies AG (Siemens AG)

 

Market Segment Insights

Automotive segment is projected to account for a large market share
In terms of applications, the pressure sensors market is segmented into medical, automotive, industrial, aerospace and defense, consumer electronics, food and beverage, and HVAC. The automotive segment is expected to account for a key share of the market during the forecast period owing to from a vendor's viewpoint, many expansion methods have been seen.
 

Pressure Sensors Market by applications


North America is anticipated to dominate the market
On the basis of regions, the pressure sensors market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to strict government requirements surrounding passenger safety and rapidly developing automotive and aerospace sectors. In addition, the market is projected to be driven by an increase in the helicopter and commercial aircraft manufacturing in the United States.

Canada is one of the world's largest makers of consumer electronics. Electronics and associated production account for roughly 4% of overall manufacturing output in Canada, according to statistics from Canadian producers and exporters. Canada is among the top ten largest car makers in the world, with over 540 OEM parts manufacturers and many other automotive-related companies, and this industry is the most important contributor to the country's manufacturing sector. Such factors are likely to have a favorable influence on the region's pressure sensor industry.
 

Pressure Sensors Market by Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Pressure Sensors Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Pressure Sensors Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Pressure Sensors Market - Supply Chain
  4.5. Global Pressure Sensors Market Forecast
     4.5.1. Pressure Sensors Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Pressure Sensors Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Pressure Sensors Market Absolute $ Opportunity
5. Global Pressure Sensors Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Pressure Sensors Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Pressure Sensors Demand Share Forecast, 2019-2026
6. North America Pressure Sensors Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Pressure Sensors Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Pressure Sensors Demand Share Forecast, 2019-2026
7. Latin America Pressure Sensors Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Pressure Sensors Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Pressure Sensors Demand Share Forecast, 2019-2026
8. Europe Pressure Sensors Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Pressure Sensors Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Pressure Sensors Demand Share Forecast, 2019-2026
9. Asia Pacific Pressure Sensors Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Pressure Sensors Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Pressure Sensors Demand Share Forecast, 2019-2026
10. Middle East & Africa Pressure Sensors Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Pressure Sensors Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Pressure Sensors Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Pressure Sensors Market: Market Share Analysis
  11.2. Pressure Sensors Distributors and Customers
  11.3. Pressure Sensors Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. ABB Ltd.
     11.4.2. Bosch Sensortec GmbH
     11.4.3. Honeywell International Inc.
     11.4.4. Rockwell Automation, Inc.
     11.4.5. Siemens Building Technologies AG (Siemens AG)

Segments Covered in the Report
The global pressure sensors market has been segmented on the basis of

Applications

  • Medical
  • Automotive
  • Industrial
  • Aerospace and Defense
  • Consumer Electronics
  • Food and Beverage
  • HVAC

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • ABB Ltd.
  • Bosch Sensortec GmbH
  • Honeywell International Inc.
  • Rockwell Automation, Inc.
  • Siemens Building Technologies AG (Siemens AG)

Key players competing in the global pressure sensors market include ABB Ltd.; Bosch Sensortec GmbH; Honeywell International Inc.; Rockwell Automation, Inc.; and Siemens Building Technologies AG (Siemens AG).
 

Pressure Sensors Market by Key Players

Buy Report