Global Pressure Sensor Market, Newest Industry Data, Growth Prospects, Future Trends And Forecast 2027

The global pressure sensor market is expected to witness a CAGR of 9.2%% during the forecast period. The factors influencing the growth of the pressure sensor market are the developments in microelectromechanical (MEMS)sensors, rise in demand from consumer electronics, medical and automotive industries, strict passenger safety regulations, and the increasing adoption of the pressure sensors in smartphones during the COVID-19 pandemic, thus boosting the growth of the global pressure sensor market.

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Honeywell announced the launch of a new series of high-performance, high-value, media isolation stainless steel pressure sensors (MIP) for the industrial and HVAC markets. The sensors are designed to withstand extreme temperatures and resist corrosion

The COVID-19 pandemic has severely impacted the global pressure sensor market as there is reduced demand from industries such as automotive, industrial, and consumer electronics. The strict lockdowns have halted the business operations by disrupting the supply chain and lack of labor force, thus hampering the market growth of the global pressure sensor market.

The automotive end-use industry will witness the largest share over the forecast period owing to the use of pressure sensors in the automotive industry according to the mandates laid down by the government such as reduce emissions and fuel consumption, decrease in air pollution, safety concerns of passengers, etc. The pressure sensors are used in the automotive segment for automatic transmission, tire pressure monitoring, and engine management applications. They are mostly used in lightweight vehicles for smooth functioning and safety.

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APAC is accounted to have the largest share in the global pressure sensor market by 2027 as China, India, South Korea, and Japan are contributing to the growth of the pressure sensor market in the region. The rising demand for consumer electronics such as tablets, wearable devices, smartphones and the growing development in the automotive market to expand manufacturing units will contribute to maximizing the revenue of the pressure sensor market in the region.

Some of the key players operating in the pressure sensor market: ABB, Honeywell International Inc., Bosch Sensortec GmbH, Emerson Electric Co., Amphenol Corporation, Sensata Technologies, Inc, BD|SENSORS GmbH, TE Connectivity, Siemens, and GfG Gas Detection UK Ltd.

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