Pressure Sensor Market Size, Share and Trends Analysis Report, Forecast 2022-2030

The Global Pressure Sensor Market is expected to grow at a CAGR of around 8.8% from 2022 to 2030 and reach the market value of over US$ 31.8 Billion by 2030.

A pressure sensor is a device used to sense pressure and convert it into an electric signal. These pressure sensors can alternatively be called pressure transmitters, pressure transducers, pressure indicators, pressure senders, piezometers, and manometers, among others. These are available in various designs, technology, performance, application suitability, and cost.

The global pressure sensor market is segmented on the basis of product type, function, technology, application, end-user industry, and geography. On the basis of product type, the market is divided into absolute pressure sensors, gauge pressure sensors, differential pressure sensors, sealed pressure sensors, and vacuum pressure sensors. Based on the function, the pressure sensor is studied across pressure sensing, altitude sensing, flow sensing, and depth sensing.

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By technology, the market is divided across piezoresistive, capacitive, resonant, electromagnetic, optical, others. Additionally, pressure sensors have applications across automotive on-vehicle, medical devices, HVAC, process controls, test & measurement, and others. The end-user industry includes automotive, medical, industrial, utility, aviation, oil & gas, marine, consumer electronics, and others.

Based on the application, the automotive on-vehicle segment is leading the market with maximum revenue share and the segment is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The segment is accounted for the maximum revenue share owing to its high demand and usage across the globe.

Asia Pacific dominated the pressure sensor market in 2019 and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The dominance of the automotive market in the region due to expanding manufacturing units and demand across the developing economies is contributing to the maximum revenue share in the pressure sensor market.

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North America is projected to experience the fastest growth over the forecast period from 2020 to 2027 in the pressure sensors market. The increasing demand for pressure sensors in industry verticals like oil & gas, petrochemical, and medical is further accelerating the regional market growth. The US contributes to the maximum revenue share in the regional market.

Some of the leading competitors are ABB Ltd., AlphaSense, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., GfG Europe Ltd, Membrapor AG., Nemoto & Co., Ltd., Robert Bosch LLC., Siemens AG., and others. The major players are continuously making possible efforts for the development of advanced products that can serve the end-user better by meeting the regulations and requirements.

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Some of the key observations regarding the pressure sensor industry include:

• Sensirion AG and Nicolay Gmbh have collaborated in 2021 to develop an evaluation kit for human ventilator development that measures flow rate and pressure. Sensirion is a Swiss company that makes liquid and gas flow sensors, differential pressure sensors, and environmental sensors particularly for temperature, humidity, volatile organic compounds, carbon dioxide, formaldehyde, and PM2.5 particulate matter. Nicolay is a German-based company and a part of the GPE Group. It develops and manufactures connector systems, cable systems, and sensors for non-invasive patient monitoring and diagnostics.

• In 2021, Tubolito Gmbh has launched New MTB PSENS tubes that have a built-in pressure sensor. The Austria-based company has put an NFC (Near-Field Communication) chip inside their thermoplastic polyurethane tubes. The chip sends a pressure reading to the Tubolito app through the wireless medium when a smartphone is held against the tire.

• New Holland Agriculture has won two medals at SIMA Innovation Awards in 2021 for its combined harvester technology. The awards have been judged by an international jury panel of industry specialists backed by a network of technical experts. New Holland has received a silver medal in the From Harvest to storage category for its NutriSense in-harvest nutrient analysis system and the other medal is bronze in the Parts, Services, and Onboard Electronics category for its cleaning system pressure sensors.

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This release was published on openPR.