Press release
Analysis of Key Market Segments Driving the Pressure Sensor Market
Pressure Sensor Market
Projected Market Size and Growth Expectations for the Pressure Sensor Market
The pressure sensor market is anticipated to witness substantial growth by 2030, reaching a value of $24.66 billion with a compound annual growth rate (CAGR) of 9.1%. This upward trend is fueled by several factors, including the rising demand for smart wireless pressure sensors, the expansion of medical device instrumentation, increased automation in manufacturing processes, the need for highly accurate differential sensors, and the integration of pressure sensors into connected devices. Key developments shaping the market during this period involve a surge in the use of pressure sensors within automotive safety systems, industrial automation, consumer electronics, medical equipment monitoring, and oil and gas industry applications.
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Leading Companies Driving the Pressure Sensor Market Forward
The pressure sensor industry includes numerous prominent players that contribute significantly to its advancements and growth. Important companies in this space 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, and Robertec.
In a notable development, November 2023 saw Millar Inc., a US-based medical equipment manufacturer, acquire Sentron. This strategic move aims to broaden Millar's footprint in the MEMS pressure sensor segment, combining advanced manufacturing capabilities with a wider portfolio of medical sensor solutions. Sentron specializes in a range of sensors, including MEMS pressure sensors, enhancing Millar's technological offerings.
Innovations Enhancing Pressure Sensor Performance and Reliability
Companies in the pressure sensor market are actively pushing the envelope with new technologies designed to boost sensor durability and accuracy. One such advancement is the use of high-performance barrier coating technology, which shields sensitive sensor components from harsh conditions such as extreme temperatures, moisture, and corrosive chemicals. This protective layer significantly improves both the lifespan and precision of pressure sensors.
A practical example occurred in September 2023, when Baker Hughes, an India-based oil and gas company, introduced its Druck hydrogen-rated pressure sensors. These sensors are engineered specifically for hydrogen applications, utilizing high-performance barrier coatings to guard against long-term damage from hydrogen exposure. This innovation ensures a lifespan of at least five years across several pressure ranges, making them highly suitable for challenging operational environments.
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Detailed Market Segmentation and Future Forecasts for the Pressure Sensor Industry
The global pressure sensor market is categorized into several key segments to provide a comprehensive understanding of product and application diversity:
1) Product Type: Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, and Others.
2) Technology: Piezoresistive, Capacitive, Resonant Solid-State, Electromagnetic, Optical, Piezoelectric, and Others.
3) Output: Analog and Digital.
4) Sensor Type: Wired and Wireless.
5) Application: Automotive, Industrial, Consumer Electronics, Healthcare, Oil and Gas, Aerospace and Defense, and Other Applications.
Further breakdowns include subtypes such as:
- Capacitive, Piezoelectric, and Strain Gauge Absolute Pressure Sensors
- Capacitive, Piezoelectric, and Strain Gauge Gauge Pressure Sensors
- Capacitive, Piezoelectric, and Strain Gauge Differential Pressure Sensors
- Other categories encompassing Sealed Pressure Sensors, Vacuum Pressure Sensors, and Smart Pressure Sensors.
This segmentation enables a detailed analysis of market dynamics and helps identify growth opportunities tailored to specific technologies and uses.
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