Pressure Sensor Market by Type (Piezo-resistive, Electromagnetic, Capacitive, Resonant, solid state, Optical, Others) and By Application (Automotive, Oil & Gas, Consumer electronics, Medical, Industrial ,Others), Industry Trends, Estimation & Forecast, 2016 - 2024

August 2017

 Pages: 110

 ERC 4519

The Pressure Sensor Market was valued at $7.21 billion in 2016 and is projected to reach $12.07 billion by 2024, growing with a CAGR of 6.7% during the forecast period of 2017-2024. The Piezoresistive sensor market generated the highest market share in the global pressure sensor market, in terms of revenue.

Pressure sensors are the usual sensors that sense pressure and communicate by converting it into an analog signal. They are also referred to as pressure transmitters, pressure indicators, pressure transducers, piezometers, and even manometers. The usage of pressure sensors is not only confined to the indication of pressure only. It indirectly helps in measuring certain other variables such as speed, altitude, fluid or gas flow, and water level. Pressure sensors have gained wide acceptance in varied industries such as manufacturing, biomedical, automobile, aviation, hydraulic measurements, air conditioning, and other consumer electronic goods. In terms of geography, Asia-Pacific is the market leader and is anticipated to show an impressive growth during the forecast period. The growth of this region can very well be attributed to the surging demand from developing countries such as China, South Korea, and India.

Market Determinants

The advancements and rising demand of automotive industry has fostered the demand for pressure sensors in the industry, which in turn is boosting the market growth. The surging demand of pressure sensors in the automotive industry can be attributed to its ability to maintain a check on the air pollution level by reducing unnecessary fuel consumption. It also helps in monitoring the coolant pressure, engine oil, tire pressure, and advanced driver assistance. Moreover, the increasing trend of reliable, high performance, and cost efficient sensors in various industries is also driving the growth of pressure sensors market. Smartphones and watches are also equipped with such sensors, and are contributing in expanding the market size of pressure sensors. Each year, the number of smartphone users has been on a rise. For instance, there were 2.32 billion smartphone users around the world, whereas in 2016 there were only 2.1 billion users. However, the major market determinants hindering the growth of the market are the high replacement costs and huge installations cost.


Pressure Sensor Market

Market Segmentation

The segmentation of the global pressure sensor market is done on the basis of type, application and geography. By type, the market is segmented into piezoresistive sensors, electromagnetic sensors, capacitive sensors, resonant solid state sensors, optical sensors and other sensors. On the basis of application the market is categorized as automotive, Oil & Gas, consumer electronics, medical, industrial and others. Geographically, the market is segmented as North America, Europe, Asia-Pacific and Rest of World. Piezoresistive sensors lead the global pressure sensor market in 2016, however the fastest growing market segment is expected to be of optical sensors.
Some market players are Emerson Electric Co., ABB Ltd, Robert Bosch Gmbh, Analog Devices, Inc., Denso Corporation, Delph Automotive Plc, Honeywell International Inc., Schneider Electric, NXP Semiconductors N.V., Damco Corporation. The key market players are focusing on merger and acquisitions along with new product launch, in order to sustain their market hold.

Pressure Sensor Market Segmentation

By Type
   • Piezo-resistive sensors
   • Electromagnetic sensors
   • Capacitive sensors
   • Resonant solid state sensors
   • Optical sensors
   • Other

By Application
   • Automotive
   • Oil & Gas
   • Consumer electronics
   • Medical
   • Industrial
   • Others

By Geography
   • North America
   • Europe
   • Asia-Pacific
   • Rest of World

Pressure Sensor Market Key Players

   • Emerson Electric Co.
   • ABB Ltd.
   • Robert Bosch GmbH
   • Analog Devices Inc.
   • Denso Corporation
   • Delphi Automotive Plc.
   • Honeywell International Inc.
   • Schneider Electric
   • NXP Semiconductors N.V.
   • Damco Corporation

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