A pressure sensor is a sensing device used to measure pressure, typically of fluids and gases, and convert it into an equivalent analog electrical signal. A pressure sensor generates a signal in response to the pressure imposed on the device. Although electrical signals are the most popular type of notification given by pressure sensors, some of the sensors also indicate optical signals, visual signals, and audio signals. Some of the most popular technologies used in pressure sensors include piezoresistive, electromagnetic, resonant solid state, capacitive, and optical, among others.
Pressure sensors are used across various end-use segments for applications such as altitude measurement, pressure or force sensing, depth measurement, flow sensing, and others. Some of the most prominent applications of pressure sensors include automotive, healthcare, consumer electronics, and industrial manufacturing and processing.
The most significant factor fueling the pressure sensor market's growth is the steadily rising automotive industry worldwide. Pressure sensors are used to monitor engine oil and coolant pressure and to regulate the engine's power during acceleration and braking. With the ever-rising demand for automotive vehicles worldwide, the pressure sensors market is estimated to continue witnessing robust growth throughout the forecast period.
Another major factor governing the market's growth is the enforcement of regulations on installing tire pressure monitoring systems (T.P.M.S.) in vehicles. This is another factor estimated to bolster market growth. Nevertheless, high installation and replacement costs are a major challenge for the market.
The report titled "Global Pressure Sensors Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" offers strategic insights into the global pressure sensors market along with the market size and estimates for the duration of 2013–2023. The report provides actual market data for 2013–2015, whereas the forecast is provided for 2016–2023.
Further, the said research study covers an in-depth analysis of multiple market segments based on technology, application and a cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2015–2023. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities. In addition, the report covers a section providing an analysis of the impact of market drivers and restraints over the forecast period.
To help strategic decision-makers, the report covers sections wherein the most attractive market segments have been analyzed and discussed. The report also includes competitive profiling of the leading pressure sensor manufacturers, their SCOT (strengths, challenges, opportunities, and weaknesses) analysis, market positioning, and key developments.
Some of the major players profiled in the report are ABB Ltd., Analog Devices, Bosch Sensortec, Delphi Corporation, Continental AG, D.E.N.S.O. Corporation, Infineon Technologies AG, Honeywell International Inc., Micronas Group, Melexis Microelectronic Integrated Systems N.V., O.M.R.O.N. Corporation, Sensata Technologies Inc., Siemens AG, K.E.L.L.E.R. UK, STMicroelectronics NV, T.E.T.E. Connectivity Ltd., Yokogawa Electric Corporation, and others. The report also provides an overview of the major strategies adopted by the leading players recognized in the market.
Other in-depth analysis provided in the report includes:
Current and future market trends to justify the forthcoming attractive markets within the pressure sensor industry and the overall sensor industry
Market fuelers, market impediments, and their impact on market growth
in-depth competitive environment analysis
Trailing 2-year market size data (2013–2015)
S.R.C. (Segment, Region, Country) Analysis
Overall, the research study provides the following:
A holistic view of the global pressure sensors market.
Offering market size and estimates for the period from 2016 to 2023.
Keeping in mind the above-mentioned factors.
The global pressure sensors market has been segmented based on geographical regions, as per the following regions and countries:
North America
U.SU.S.
Canada
Europe
U.KU.K.
Germany
C.I.S.
Rest of Europe
Asia Pacific
Japan
China
South Asia
Australasia
Rest of Asia Pacific
Middle East and Africa (M.E.A.)
G.C.C. countries
North Africa
South Africa
rest of M.E.A.
Latin America
Brazil
Mexico
rest of Latin America
As of 2015, the pressure sensor market worldwide was dominated by the Asia Pacific region. The segment contributed over one-third of the total revenue generated worldwide in 2015. The most significant factor contributing to the large revenue share is the strong automotive and industrial manufacturing and processing industries in the region. The market here is largely backed by countries such as China, Japan, Taiwan, South Korea, and India, all of which have strong automotive and industrial sectors. Due to a steadily rising automotive industry coupled with government regulations across different countries, Asia Pacific is estimated to retain its dominant position in the market, expanding with the highest CAGR from 2016 to 2023.
Asia Pacific is followed by Europe in revenue and penetration in the overall pressure sensor market. The European market is largely backed by Western European countries with large automotive, consumer electronics, and industrial manufacturing and processing sectors. Germany is among the largest markets for pressure sensors across the region, primarily due to the strong consumer electronics, automotive, and industrial manufacturing sectors in the country. The market here is also driven by laws that require pressure sensors to be installed in cars so that tire pressure can be monitored. Thus, the Europe pressure sensors market will continue witnessing strong growth during the forecast period.
Frequently Asked Question:
The market for Pressure Sensors Market is expected to reach USD$ 6.88 Bn in 2023.
The Pressure Sensors Market is expected to see significant CAGR growth over the coming years, at 5.4%.
The report is forecasted from 2016 -2023.
The base year of this report is 2015.
Honeywell International Inc., Micronas Group, Melexis Microelectronic Integrated Systems N.V., O.M.R.O.N. Corporation, Sensata Technologies Inc., Siemens AG, K.E.L.L.E.R. UK, STMicroelectronics NV, T.E.T.E. Connectivity Ltd. .are some of the major players in the global market.
The global pressure sensors market is segmented, based on theirapplications, into following categories
Automotiv
Industrial Manufacturing & Processing
Consumer Electronics
Oil & Gas
Healthcare
Environmental
Others
As of 2015, the overall pressure sensors market, on the basis of applications, is dominated by automotive segment. In 2015, the segment contributed to over 30% of the total revenue generated worldwide. Due to steadily rising automotive industry coupled with enforcement of regulations (such as tire pressure monitoring system), the automotive segment is estimated to retain its dominant position in the market throughout the forecast period. Industrial manufacturing and processing segment follows the automotive segment, in terms of revenue and penetration, of the overall market.
Consumer electronics segment is another promising applications of pressure sensors. Currently, the segment accounts for the fourth largest share, in terms of revenue of the overall pressure sensors market. With the rising advancement in smart devices, sensors are increasingly finding new applications in the segment. Due to increasing development in the overall consumer electronics segment (e.g. wearable devices), the segment is estimated to register the highest growth in the market during the forecast period.
