Market Insights:
The global Pressure Sensor Market is projected to grow from USD 16.8 Bn in 2021 to 25.2 Bn by 2030, at a CAGR of 4.6% in forecast period, 2022-2030.
Driver:
The increased adoption of Pressure Sensor in the Sensors & Controls industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Pressure Sensor also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Pressure Sensor in many sectors also boosts the market growth during the forecast period.
A pressure sensor is a device that detects pressure and turns it into an electric signal whose magnitude is proportional to the applied pressure. It detects, measures, and sends data to aid in the analysis of a device’s functioning. It employs silicon wafer-based IC manufacturing technique. It monitors and adjusts the pressure of gases and liquids. It monitors several pressures, including absolute, vacuum, gauge, and differential pressure. Pressure sensors are widely utilised in a variety of industries, including automobiles, manufacturing, aircraft, biomedical measures, air conditioning, and hydraulic measurements.
Pressure Sensor Market Research Report” was just released by Market Research Community. It is divided into several categories, including type (Absolute Pressure Sensors, Gauge Pressure Sensor, Differential Pressure Sensors), application (Automotive, Oil and Gas, Consumer electronics, Medical, Industrial), Technology (Piezoresistive, Electromagnetic, Capacitive, Resonant Solid State, Optical, Others), and companies (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), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 4.6%, over the forecast period of 2022–2030.
Report Coverage:
Report Attributes | Report Details |
Study Timeline | 2018-2030 |
Market Size in 2030 (USD Billion) | 25.2 Billion |
CAGR (2022-2030) | 4.6% |
By Type | Absolute Pressure Sensors, Gauge Pressure Sensor, Differential Pressure Sensors |
By Application | Automotive, Oil and Gas, Consumer electronics, Medical, Industrial |
By Technology | Piezoresistive, Electromagnetic, Capacitive, Resonant Solid State, Optical, Others |
By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Key Players | 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 |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Pressure Sensor market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in 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
Market Segment Analysis:
By Type
- Absolute Pressure Sensors
- Gauge Pressure Sensor
- Differential Pressure Sensors
By Application
- Automotive
- Oil and Gas
- Consumer electronics
- Medical
- Industrial
By Technology
- Piezoresistive
- Electromagnetic
- Capacitive
- Resonant Solid State
- Optical
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Pressure Sensor industries in the region.
Key Pressure Sensor Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Pressure Sensor Market segments.
– Largest Market Share Held by Industry to Industry for Pressure Sensor
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Pressure Sensor Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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Research Methodology
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