Pressure Sensor Market Global Forecasts To 2023 explores Global Pressure Sensor market share, size, trends, manufacturers, and industry analysis to 2023. Global pressure sensor size growing at a CAGR of 5.27% between 2017 and 2023. Pressure sensor market growth is driven by advancements in MEMS technology and its rapid adoption in connected devices, growing demand from automotive and medical device industries, increasing adoption of pressure sensors in consumer goods and wearables, and stringent government regulations.
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Digital Substation Company analysed in report are Honeywell (US), ABB (Switzerland), NXP Semiconductors (Netherland), Infineon Technologies (Germany), Emerson Electric (US), General Electric (US), Siemens (Germany), STMicroelectronics (Switzerland), Robert Bosch (Germany), TE Connectivity (Switzerland), Schneider Electric (France), Denso (Japan), Continental (Germany), Endress+Hauser (Switzerland), SSI Technologies (US), and Delphi (UK).
The development strategies implemented by the players operating in the pressure sensor market, such as agreements, product launches and developments, partnerships, collaborations, mergers and acquisitions, further help boost the market growth. However, the major restraining factor for the growth of this market is the intense pricing pressure.
The absolute pressure sensor is expected to hold a large share of the overall pressure sensor market owing to the increased use of pressure sensors in the automotive, medical, industrial, and utilities industries for oil pressure monitoring, fuel pressure monitoring, nitrous pressure monitoring, and transmission pressure monitoring.
The breakdown of primary interviews is given below.
- By Company: Tier 1 –45%, Tier 2 –30%, and Tier 3 –25%
- By Designation: C-Level Executives –40%, and Managers Level –60%
- By Region: Americas–30%, APAC– 35%, Europe– 20%, and RoW – 15%.
The largest share of the pressure sensor for the automotive application can be attributed to the increased use of pressure sensors in the oil pressure monitoring, fuel pressure monitoring, nitrous pressure monitoring, transmission pressure monitoring, and tire pressure monitoring.
The pressure sensor market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The pressure sensor market in countries such as China, India, Japan, and South Korea is expected to grow at the highest CAGR due to the increasing deployment of automated storage and retrieval systems (ASRS) and growing awareness about the benefits of automated systems.
In this research report, the pressure sensor market is segmented on the basis of product type, technology, application, and geography. The market has been segmented on the basis of product type into differential, absolute, gauge, vacuum, and sealed.
Based on technology, the pressure sensor market has been classified into piezo resistive, capacitive, electromagnetic, resonant, optical, and others. The market has been segmented by application into automotive, oil & gas, consumer electronics, medical, industrial, utilities, aviation, marine, and others.
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