Press release
Pressure Sensor Market Size, Top Trends, Outlook Report To 2024 To 2033
Pressure Sensor Market
Market Size And Growth Forecast:
The pressure sensor market size has grown strongly in recent years. It will grow from $13.7 billion in 2023 to $15.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to usage of pressure sensors in iot systems, an increase in the use of pressure sensors in the automotive industry and increasing military spending.
The pressure sensor market size is expected to see strong growth in the next few years. It will grow to $21.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to a rise in demand for pressure sensors in consumer electronics, growing trend towards industrial automation and iiot in developing nations and rising adoption of pressure sensors in industrial activities. Major trends in the forecast period include developments in pressure sensors, miniature front-flush pressure sensors, strategic partnerships, barometric pressure sensors, technological advancements and product innovation.
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Market Segmentation:
The pressure sensor market covered in this report is segmented -
1) By Product Type: Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, Others
2) By Technology: Piezoresistive, Capacitive, Resonant Solid-State, Electromagnetic, Optical, Piezoelectric, Others
3) By Output: Analog, Digital
4) By Sensor Type: Wired, Wireless
5) By Application: Automotive, Industrial, Consumer Electronics, Healthcare, Oil And Gas, Aerospace And Defense, Other Applications
Major Driver - Driving Forces Behind The Surge In Pressure Sensor Market Growth In Industrial Applications
The rising adoption of pressure sensors in industrial applications is expected to propel the growth of the pressure sensor market. In automation and industry, pressure sensors are used in systems to measure variables such as speed, fluid/gas flow, water level, and altitude. For instance, according to Schott, a German-based company that manufactures glass and glass components, approximately 2 billion pressure sensors are produced every year, and this number is expected to increase by 7% annually. Therefore, the rising adoption of pressure sensors in industrial applications is driving the growth of the pressure sensor market.
Competitive Landscape:
Major companies operating in the pressure sensor market report are Sensata Technologies Inc, Siemens AG, Rockwell Automation Inc, Amphenol Corporation, Honeywell International Inc, Robert Bosch, ABB Ltd, Infineon Technologies AG, Emerson Electric Co, TE Connectivity, Shanghai Zhaohui Pressure Apparatus CO.Ltd, Alpha Instruments, Lefoo Industrial Co. Ltd, Xi'an UTOP Measurement Instrument Co. Ltd, TM Sensor, Sendo Sensor, Shaanxi Sutao Electromechanical Technology, Meokon Sensor Technology (Shanghai) Co. Ltd, JUMO Automation Dalian Co. Ltd, Changsha Taihe Electronic Equipment Co, Shaanxi Sier Electronics Co. Ltd, Xi'an Huaheng Instrument Co. Ltd, Sunsui Process System, Crystal Vision, SRI Electronics, Precision Mass Products Pvt. Ltd, Sunder Electronics, Rocksensor, TURCK India Automation Pvt, Trumen, MEIYO ELECTRIC Co Ltd, PURERON JAPAN, SENSEZ Corporation, VALCOM CO. LTD, ADZ NAGANO GmbH, Analog Microelectronics, Barksdale GmbH, Baumer Group, BECKHOFF Automation GmbH & Co.KG, Bronkhorst High-Tech BV, DJB Instruments, E+E Elektronik Ges.m.b.H, ESI Technology Ltd, AHLBORN Mess- und Regelungstechnik GmbH, AMSYS GmbH, Angst+Pfister Sensors and Power, B+B Thermo-Technik GmbH, BCM Sensor Technologies, burster präzisionsmesstechnik gmbh & co kg, Delphin Technology AG, Driesen+Kern GmbH, ES Systems, ZETLAB, NPO Vakuummash, CJSC EMIS, KELLER Polska, Krohne Messtechnik GmbH, WIKA Bulgaria EOOD, COMECO SA, General Electric Company, Anfield Sensors Inc, XSENSOR Technology Corporation, Baumer Brazil, Parker Hannifin Argentina SAIC, Druck, Dubai Sensor, Caltrols Middle East FZCO, Control Tech Middle East, SICK FZE, Riken Keiki Middle East, SMC Corporation Middle East FZE, PHOENIX CONTACT Middle East FZ LLC, WIKA Middle East FZE, All Sensors Corporation, Bosch Rexroth SA Group, Thermon South Africa (Pty) Ltd, PROCONTROL INSTRUMENTATION, ASSTech Process Electronics + Instrumentation Cc, Blanes Pressure Solutions, Test And Measurement Instruments C.C., Parker, SA Gauge, Robertec
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Top Trend - Technological Advancements Reshaping The Landscape Of The Pressure Sensor Market
Technological advancements are a key trend gaining popularity in the pressure sensor market. For instance, in 2021, BD Sensors GmbH, a Germany-based manufacturer of pressure sensors and pressure measurement devices, launched a DS5 electronic pressure switch. It has been designed for use in mobile working machines such as cranes, excavators, and harvesters, and provides operational safety in mobile working machines. It is available in the measuring ranges from 16 to 600 bar and is characterized by having a switching accuracy of 1% FSO and a high overload.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pressure Sensor Market Characteristics
3. Pressure Sensor Market Trends And Strategies
4. Pressure Sensor Market - Macro Economic Scenario
5. Pressure Sensor Market Size And Growth
…..
27. Pressure Sensor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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