Pressure Sensors Market Size Worth USD 13,466 Mn By 2026 | CAGR of 5.9%.
Posted: Oct 23, 2018
Polaris Market Research presents a most up-to-date research on " Pressure Sensors Market, [By Type (Absolute Pressure Sensors, Differential Pressure Sensors, Gauge Pressure Sensors, Others); By Technology (Optical Pressure Sensors, Piezoresistive Pressure Sensors, Electromagnetic Pressure Sensors, Capacitive Pressure Sensors, Resonant Solid-State Pressure Sensors, Other Pressure Sensors); By End-User (Automotive, Healthcare, Aviation, Consumer Electronics, Oil and Gas, Industrial, Others) By Region]: Market size & Forecast, 2018 – 2026".
The Global Pressure Sensors Market was valued at USD 7,995 million in 2017, and is expected to reach a value of USD 13,466 million by 2026 at a CAGR of 5.9%, over the forecast period 2018-2026.
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Pressure sensors are used for transforming physical quantity of pressure into an industry standard signal. Some applications of pressure sensors include robotics, automation, refrigeration systems, motorsport, air conditioning, automobiles, healthcare equipment, and industrial devices among others. Different sensors are used for different measurement targets, such as liquids, gases, flammable substances, and corrosive substances.
The demand for pressure sensors has increased owing to rising demand from the automotive industry, growing demand for vehicles from emerging economies, and modernization of vehicles. The rising use of pressure sensors in consumer devices, and growing demand from healthcare sector has resulted in the pressure sensors market growth. The growing adoption of MEMS and NEMS technology, and connected devices has increased the demand for pressure sensors across the globe. The introduction of favourable government regulations further accelerates the adoption of pressure sensors. Growing demand from emerging economies, development of smart cities, increasing adoption of IoT, and technological advancements are factors expected to provide numerous growth opportunities in the coming years.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Pressure Sensors Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
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Asia-Pacific generated the highest revenue in the market in 2017 owing the established automotive industry, and increasing production of automobiles in the region. The increasing demand from consumer electronics and wearables, along with growing development of smart cities further boost the pressure sensors market growth in the region.
Competitive Landscape and Key Vendors
The global pressure sensors market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies operating in this market include General Electric, Infineon Technologies, ABB Ltd., Emerson Electric Company, NXP Semiconductors N.V., Robert Bosch GmbH, Siemens AG, Omron Corporation, Schneider Electric, and Honeywell International.
- Absolute Pressure Sensors
- Differential Pressure Sensors
- Gauge Pressure Sensors
- Optical Pressure Sensors
- Piezoresistive Pressure Sensors
- Electromagnetic Pressure Sensors
- Capacitive Pressure Sensors
- Resonant Solid-State Pressure Sensors
- Other Pressure Sensors
- Consumer Electronics
- Oil and Gas
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