Pressure Sensor Market by Type (Absolute Pressure Sensor, Gauge Pressure Sensor, and Differential Pressure Sensor), Technology (Piezoresistive, Electromagnetic, Capacitive, Resonant Solid State, Optical, and Others), and Application (Automotive, Oil & Gas, Consumer Electronics, Medical, Industrial and Others) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America). The global Pressure Sensor Market size was estimated at USD 17.0 billion in 2023 and is projected to reach USD 29.2 billion in 2030 at a CAGR of 8.1% during the forecast period 2023-2030.
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A pressure sensor serves as a highly significant and indispensable device that effectively detects and perceives pressure, subsequently transforming this physical phenomenon into a highly useful electric signal, whose magnitude is contingent upon the level of pressure exerted.
By virtue of its innate capability to identify, quantify, and transmit relevant and valuable information, pressure sensors play an instrumental role in facilitating the comprehensive analysis and evaluation of the operational efficacy and performance of a given apparatus or system. Employing state-of-the-art integrated circuit (IC) fabrication technology, these sensors are meticulously manufactured and meticulously constructed on silicon wafers, thereby ensuring optimal precision and accuracy in their functioning.
The primary and overarching objective of a pressure sensor is to vigilantly and judiciously monitor and regulate the pressure levels, typically pertaining to gases and liquids. Furthermore, these sensors are also adept at measuring and quantifying diverse categories and variants of pressure, including but not limited to absolute, vacuum, gauge, and differential pressure.
As a testament to their exceptional versatility and practicality, pressure sensors have garnered widespread and extensive utilization across multifarious and diverse domains and industries, most notably encompassing the domains of automotive engineering, manufacturing and production processes, aviation and aerospace technology, biomedical and healthcare measurements, air conditioning and climate control systems, as well as hydraulic and fluid pressure measurements.
Regional Analysis
Asia Pacific to Dominate the Market
· APAC is anticipated to assert its dominance over the pressure sensor market throughout the projected duration.
· This ascendancy can be ascribed to the existence of prominent entities. China and Japan, being the principal contributors to this geographical area, hold the largest proportion of the overall pressure sensor market share in APAC.
Competitive Landscape
· ABB
· Amphenol
· Bd Sensors Gmbh
· Eaton
· Emerson Electric Co.
· Honeywell International Inc.
· INFINEON Technologies Ag
· Micro Sensor Co. Ltd
· Microchip Technology Inc.
· Nxp Semiconductor
· Qualcomm Technologies, Inc
· Quartzdyne, Inc.
· Renesas Electronics
· Sensata Technologies, Inc.
· Siemens Ag and More
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Government regulations play a substantial role in the expansion of the pressure sensor market, particularly in relation to the automotive industry. In the United States, an enactment known as the Transportation Recall Enhancement, Accountability and Documentation (TREAD) Act has rendered the installation of tire pressure monitoring systems (TPMS) obligatory in all vehicles.
TPMS sensors gauge tire air pressure and temperature, promptly notifying drivers within a time frame of twenty minutes upon identifying under-inflation of the tires. Furthermore, the US government mandates the inclusion of passenger airbags and side airbags, equipped with pressure sensors, in all commercial vehicles, thereby stimulating the market.
Similarly, the European Union has stipulated regulations necessitating that all newly manufactured passenger car models (M1) be outfitted with a TPMS. Consequently, mounting concerns pertaining to road and human safety, as well as vehicle security, are expected to propel market growth. Moreover, the European Union has passed an act targeting zero-emissions vehicles, with the objective of reducing CO2 levels in the environment.
In accordance with this act, passenger vehicles and freight vehicles weighing less than 3.5 tons must emit less than 50 g CO2 per km. Consequently, the adoption of electric vehicles in the Americas, Europe, and the APAC region has been stimulated, thereby presenting enhanced prospects for the automotive pressure sensor market.
Recent Developments
· In 2021 May, BD SENSORS GmbH launched a DS5 electronic pressure switch that has been designed for use in mobile hydraulics and supports operational safety in mobile working machines such as cranes, excavators, and harvesters.
· In 2021 June, Finnish forest industry company UPM selected Emerson Electric Co. as the main instrumentation vendor for its new eucalyptus pulp mill constructed in central Uruguay. Emerson Electric Co.'s advanced measurement instrumentation, gas analytical solutions, and high-pressure control valves will be used to monitor and control the production process.
The Pressure Sensor Market is segmented into various segments such as type, technology, product, end use, vertical, and region:
Based on Functions
· Pressure Sensing
· Altitude Sensing
· Flow Sensing
· Depth Sensing
· Temperature Sensing
Based on the Sensor Type
· Wired Sensors
· Wireless Sensors
Based on the Technology
· Piezoresistive
· Capacitive
· Resonant Solid-state
· Electromagnetic
· Optical
· Others
Based on Product
· Absolute Pressure Sensors
· Gauge Pressure Sensors
· Differential Pressure Sensors
· Sealed Pressure Sensors
· Vacuum Pressure Sensors
The Report helps to identify the opportunities in Global Regions:
· North America (the United States, Canada, and Mexico)
· Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
· Asia-Pacific (China, Japan, Korea, India, Australia, and Southeast Asia (Indonesia, Thailand, Philippines, Malaysia, and Vietnam))
· South America (Brazil etc.)
· The Middle East and Africa (North Africa and GCC Countries)
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In addition to the market data for the Pressure Sensor Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirements.
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