The global pressure sensor market is anticipated to reach USD 21,547.3 million by 2025, according to a new report by Grand View Research, Inc. Factors such as the increased demand for smart and wireless pressure sensors and regulatory initiatives in the developed markets of North America and Europe have propelled the adoption of pressure sensors. Pressure sensors are widely used for control and monitoring applications. The demand for high-performance, cost-efficient, and reliable sensors has increased, leading to higher spending in R&D activities by market vendors. Technological proliferation and advancements in nanotechnology and micro-technology are expected to propel the market growth over the forecast period.
Numerous
sensors are used to monitor pressure levels of liquids and gases in the
automotive industry. Moreover, the accelerated use of wireless technologies and
semiconductor-based sensors in consumer products, industrial automation, and
air compressor monitoring is expected to drive market growth over the forecast
period. The optical technology segment is predicted to gain traction owing to several
advantages such as high resistance to chemical corrosion and high sensitivity.
Moreover, the proliferation and increased adoption of optical fiber technology
are also major market growth drivers.
The
increasing adoption of pressure sensors in consumer goods and wearable devices,
such as watches, tablets, and smartphones, is substantially contributing to
market expansion. The use of MEMS pressure sensors in industrial control
applications and processes, HVAC applications, and level measurement is instrumental
in driving the market growth. Government regulations or laws to ensure
passenger safety in automobiles are also expected to be a major growth driver.
For instance, the U.S. government passed the TREAD Act to mandate the
installation of the Tire Pressure Monitoring System (TPMS) in all types of
automobiles so as to alert the driver about the under-inflation of automobiles
within 20 minutes of its detection.
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Pressure
Sensor Market Report Highlights
- The demand for pressure
sensors has increased over the years since they offer reliability in
performance, real-time monitoring, and cost-effectiveness.
- The U.S. government is
investing a considerable amount of monetary and non-monetary resources to
encourage the adoption of sensors across various sectors. Pressure sensors
are also an important component of smart city projects.
- The growing need for more tightly
controlled processes with their associated quality control requirements is
anticipated to drive the demand for MEMS devices in the manufacturing
segment.
- Government regulations
mandating the installation of pressure sensors in several applications, including
automotive and industrial sectors, are also driving the demand worldwide.
- Key players in the market
include ABB Ltd., Emerson Electric Co., and Omron Corporation, among
others.
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Pressure Sensor
Market Segmentation
Grand View Research has segmented
the market on the basis of product, type, technology, application, and region:
Product Outlook
(Revenue, USD Million; 2014 - 2025)
- Absolute Pressure Sensors
- Differential Pressure
Sensors
- Gauge Pressure Sensors
Type Outlook
(Revenue, USD Million; 2014 - 2025)
- Wired
- Wireless
Technology Outlook
(Revenue, USD Million; 2014 - 2025)
- Piezoresistive
- Electromagnetic
- Capacitive
- Resonant solid-state
- Optical
- Others
Application Outlook
(Revenue, USD Million; 2014 - 2025)
- Automotive
- Oil & gas
- Consumer electronics
- Medical
- Industrial
- Others
Regional Outlook
(Revenue, USD Million; 2014 - 2025)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The U.K.
- Germany
- France
- Russia
- Nordic Region
- Asia Pacific
- India
- Australia
- China
- Japan
- Latin America
- Brazil
- Argentina
- MEA
- Saudi Arabia
- UAE
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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