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Global Differential Pressure Sensors Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024
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Global Differential Pressure Sensors Industry Was 1654.71 Million USD In 2018
Differential Pressure Sensors measure the difference between two pressures, one connected to each side of the sensor. Differential pressure sensors are used to measure many properties, such as pressure drops across oil filters or air filters, fluid levels (by comparing the pressure above and below the liquid) or flow rates (by measuring the change in pressure across a restriction). Technically speaking, most pressure sensors are really differential pressure sensors; for example a gauge pressure sensor is merely a differential pressure sensor in which one side is open to the ambient atmosphere.
The Differential Pressure Sensors industry was 1654.71 million USD in 2018 and is projected to reach USD 2032.34 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of 2.98% between 20158and 2025. The differential pressure sensor industry is expected to witness growth owing to the rise in the demand in medical industries given their high accuracy and resolution in measuring respiratory flow. Moreover, owing to their wide and diverse range of applications, the adoption of differential pressure sensors is expected to increase over the forecast period.
The industry is relatively fragmented, the key brand include Honeywell, ABB, Amphenol, Panasonic, Siemens, Bosch, TE Connectivity, Emerson, Sensata, NXP, WIKA, Sensirion, First Sensor, Omron, Continental, Keller, Gems Sensors, OMEGA Engineering, Yokogawa Electric, AB Elektronik, Ashcroft, Lord Corporation, Setra Systems, KEYENCE, Hunan Firstrate Sensor and so on.
The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow downward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins. Manufacturers can take advantage of this situation by reinforcing their production units and supply-chains to avoid any delay in production turn-around-times (TAT) and supply-lead-times.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
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