Global Pressure Sensor Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Wired, and Wireless), By Technology (Piezoresistive, Capacitive, and Optical), By Product (Absolute, Gauge, Automotive, and Differential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033

Industry: Healthcare

RELEASE DATE Jan 2024
REPORT ID SI3504
PAGES 200
REPORT FORMAT PathSoft

Global Pressure Sensor Market Insights Forecasts to 2033

  • The Global Pressure Sensor Market Size was Valued at USD 19.3 Billion in 2023.
  • The Market Size is Growing at a CAGR of 5.41% from 2023 to 2033
  • The Worldwide Pressure Sensor Market Size is Expected to Reach USD 32.7 Billion By 2033
  • North America expected to grow the fastest during the forecast period

Global Pressure Sensor Market

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The Global Pressure Sensor Market Size is Anticipated to Exceed USD 32.7 Billion by 2033, Growing at a CAGR of 5.41% from 2023 to 2033.

 

Market Overview

A pressure sensor is a device or equipment that measures the pressure of gases or liquids in a variety of industries. A pressure sensor is made up of a pressure sensitive element that detects the amount of pressure applied to the sensor, as well as components that transform the information into output signals. Pressure sensors are frequently employed in factories, vehicles to detect tire pressure or engine combustion pressure, and airplanes to measure atmospheric conditions and altitude. Their uses are continually expanding. It monitors a variety of pressures, including gauge, differential, absolute, and vacuum pressures. In industries including automotive, industrial, aviation, biomedical measures, air conditioning, and hydraulic measurements, pressure sensors are frequently utilized. The latest advances in pressure sensors are anticipated to fuel significant industry growth, per pressure sensor market trends. A lot of work has gone into creating sophisticated pressure sensors because of the potential uses for them in wearable medical technology and AI systems. Government laws requiring pressure sensors to be used in cars have also fueled the demand for pressure sensors and impacted the size of the global pressure sensor market.

 

Report Coverage

This research report categorizes the market for the global pressure sensor market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global pressure sensor market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global pressure sensor market.

 

Global Pressure Sensor Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 19.3 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:5.41%
2033 Value Projection:USD 32.7 Billion
Historical Data for:2020-2021
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Sensor Type, By Technology, By Product, By Region
Companies Covered:Figaro Engineering Inc., ABB Ltd., AlphaSense, Membrapor, Siemens, BD Sensors GMBH, GfG Europe Ltd., City Technology Ltd., Dynament Ltd., Nemoto Kyorindo co., Ltd., Robert Bosch GmbH, and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

Pressure sensors are used in many commonplace applications, including water levels, altitude, gas/fluid movement, and indirect measurements of speed. They differ significantly in terms of design, technology, stability, performance, and cost because of their wide range of applications. Pressure sensors' non-invasive sensing abilities have expanded their uses, especially in medicine. Examples of these uses include blood pressure monitoring and adjustments, breathing equipment air pressure monitoring, and more. These systems have recently been able to be downsized because MEMS devices, which has increased their use in medical applications through implanted device monitoring and catheter tip sensors. These sensors have several industrial and aeronautical uses because of its high frequency, ruggedness, and fast reaction time.

 

Restraining Factors

Systems that run on batteries or low power are not compatible with pressure sensors. Lowering the pressure has drawbacks as it uses more power and decreases sensitivity. Additionally, the sensors have adhesion issues under pressure and at high temperatures, which causes the output to vary with temperature. Adoption of pressure sensors may be hampered by their cost, particularly in sectors of the economy or for uses requiring widespread sensor deployment.

 

Market Segmentation

The Global Pressure Sensor Market share is classified into sensor type, technology, and product.

 

  • The wireless segment is expected to hold the largest share of the global pressure sensor market during the forecast period.   

The pressure sensor market is categorized by sensor type into wired and wireless. Among these, the wireless segment is expected to hold the largest share of the pressure sensor market during the forecast period. Due to their high level of advancement and availability of Wi-Fi and Bluetooth communication, wireless sensors eliminate the need for expensive connecting cords. They have the benefit of being remotely controlled and watchable by the user, even with smartphones and specialized software. Because wireless pressure sensors are compact, battery-powered, readily incorporated into portable devices, and use less power, it is anticipated that demand for them would rise from the consumer electronics, industrial, and medical sectors.

 

  • The piezoresistive segment is expected to grow at fastest pace in the global pressure sensor market during the forecast period.    

Based on the technology the global pressure sensor market is divided into piezoresistive, capacitive, and optical. The piezoresistive segment is expected to grow at fastest pace in the pressure sensor market during the forecast period. One of the main factors propelling the segment's growth is the increasing use of piezoresistive pressure sensors in automobiles and passenger vehicles for improved safety and emissions. Since piezoresistive pressure sensors are reliable, fast to respond, and have a high frequency of operation, they are employed in many industrial and aeronautical applications. The goal of many manufacturers is to create waterproof sensors that can withstand outside interference.

 

  • The automotive segment is expected to grow at greatest pace in the global pressure sensor market during the forecast period.

Based on the product, the global pressure sensor market is divided into absolute, gauge, automotive, and differential. The automotive segment is expected to grow at greatest pace in the pressure sensor market during the forecast period. Electric automobiles employ pressure sensors to prevent fingers from becoming trapped in the doors. To detect the dynamic pressure system in moving cars, several pressure sensor businesses worldwide are creating and introducing novel pressure sensors and systems. Additionally, engine management systems employ pressure sensors to improve fuel supply and monitor intake manifold pressure. This may lessen emissions and increase fuel economy. The automobile segment's product demand is increasing due to these advantages.

 

Regional Segment Analysis of the Global Pressure Sensor Market

  • North America (U.S., Canada, Mexico) 
  • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
  • Asia-Pacific (China, Japan, India, Rest of APAC)
  • South America (Brazil and the Rest of South America) 
  • The Middle East and Africa (UAE, South Africa, Rest of MEA)

 

Asia Pacific is anticipated to hold the largest share of the global pressure sensor market over the predicted timeframe.

Asia Pacific

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Asia Pacific is projected to hold the largest share of the global pressure sensor market over the predicted years. The region's expansion may be ascribed to the extensive manufacturing of electronic components in addition to the growing R&D expenditures. The need for pressure sensors in this area is being driven by the rising demand for consumer electronics like tablets, wearables, and smartphones. China and India account for a sizable portion of the regional market. China offers great commercial potential and a developed market.

 

North America is expected to grow at the fastest pace in the global pressure sensor market during the forecast period. Because of the increasing need for pressure sensors in TPMS and EGR system applications in the automobile industry, the North America regional market is anticipated to develop. One of the main reasons propelling the market expansion is the existence of significant players in the area. Simultaneously, the growing need for pressure sensors in sectors like oil and gas, petrochemical, and medicine is propelling the market expansion in this area.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global pressure sensor along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Figaro Engineering Inc.
  • ABB Ltd.
  • AlphaSense
  • Membrapor
  • Siemens
  • BD Sensors GMBH
  • GfG Europe Ltd.
  • City Technology Ltd.
  • Dynament Ltd.
  • Nemoto Kyorindo co., Ltd.
  • Robert Bosch GmbH

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting And Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Developments

  • In January 2021, the 339P pressure transmitter, a precise tool designed for accurate pressure monitoring of dosing and bonding systems, was unveiled by BD Sensors GMBH. It guarantees the application process's correctness and keeps expensive mistakes out of this application. The gadget is highly reliable and precise due to its sophisticated electronics and sturdy build.

 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Pressure Sensor Market based on the below-mentioned segments: 

 

Global Pressure Sensor Market, By Sensor Type

  • Wired
  • Wireless

 

Global Pressure Sensor Market, By Technology

  • Piezoresistive
  • Capacitive
  • Optical  

 

Global Pressure Sensor Market, By Product

  • Absolute
  • Gauge
  • Automotive
  • Differential

 

Global Pressure Sensor Market, By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
  • South America
  • Brazil
  • Argentina
  • Rest of South America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

Frequently Asked Questions (FAQ)

  • 1. Which are the key companies that are currently operating within market?
    Figaro Engineering Inc., ABB Ltd., AlphaSense, Membrapor, Siemens, BD Sensors GMBH, GfG Europe Ltd., City Technology Ltd., Dynament Ltd., Nemoto Kyorindo co., Ltd., Robert Bosch GmbH, and others.
  • 2. How big is the global pressure sensor market?
    The Global Pressure Sensor Market is expected to grow from USD 19.3 Billion in 2023 to USD 32.7 Billion by 2033, at a CAGR of 5.41% during the forecast period 2023-2033.
  • 3. Which region is holding largest share of market?
    Asia Pacific is anticipated to hold the largest share of the global pressure sensor market over the predicted timeframe.

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