Pressure Sensors Market 2021 Strategic Assessments - ABB Ltd., All Sensors Corporation, Bosch Sensortec GmbH, Endress+Hauser AG, GMS Instruments BV
The pressure sensor market was valued at USD 5316.79 million in 2019 and is expected to reach USD 8931.87 million by 2025, registering a CAGR of 9.26% over the forecast period from 2020 to 2025.
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Top Leading Companies of Pressure Sensors Market are ABB Ltd., All Sensors Corporation, Bosch Sensortec GmbH, Endress+Hauser AG, GMS Instruments BV (GE Measurement & Control), Honeywell International Inc., Invensys Ltd, Kistler Group, Rockwell Automation Inc., Rosemount Inc. (Emerson Electric Company), Sensata Technologies Inc., Siemens Building Technologies AG (Siemens AG), Yokogawa Corporation and others.
Industry News and Updates
- April 2020 - Bosch Sensortec announced the BMP390, a barometric pressure sensor for altitude tracking in smartphones and wearable and hearable devices. According to Bosch, the new sensor can measure height changes below 10 centimeters and is 50 percent more accurate than its predecessor. The new BMP390 supports GPS applications for outdoor navigation and calorie expenditure estimation tasks and is available for high-volume smartphone, wearable, and hearable manufacturers.
- January 2020 - Honeywell announced the launch of a new, high-performance, value-priced line of Media Isolated stainless steel pressure sensors (MIP) for the industrial and HVAC market. The sensors were designed to withstand extreme temperatures and resist corrosion; the sensors are used by engineers to create high-performance HVAC systems, medical and biomedical processes, marine systems, aircraft systems, environmental engineering, laboratory, and wastewater and other industrial applications.
Key Market Trends
Automotive is Expected to Hold Significant Share
- The automotive industry, which is undergoing a technology transformation, with a significant objective of increasing safety, comfort, and entertainment, provides ample opportunities for the pressure sensors. The miniature size of pressure sensors, such as MEMS, is influencing their demand in the automotive industry's design scheme, making them an essential factor for massive adoption. The miniature pressure sensors are best suited for measuring the pressure of the auto brake system, the pressure of the tires, the fluid pressure of the transmission system, the pressure of engine oil, and the pressure of intake pipe, as applications. Several parameters need to be controlled in the automotive sector, and pressure sensors add considerably to the developments of these aspects.
- With technological developments enabling the development of autonomous and self-driving cars, the adoption of sensors in vehicles is expected to witness subsequent growth. In the automotive sector, safety regulations enforced by the governmental organizations also play a crucial role, in incorporating pressure sensors. Hence, the United States automotive sector has been leading the market studied, owing to the presence of a robust automotive industry. Thus, various countries' environmental and safety regulations are expected to lead to an increasingly stringent requirement for accuracy, quality, and price of automotive pressure sensors.
Regional Outlook of Pressure Sensors Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Pressure Sensors Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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