Pressure Sensor Market – Global Industry Analysis and Forecast (2022-2029)

Pressure Sensor Market is expected to grow from US$ 14.78 Billion in 2021 to US$ 29.18 Billion by 2029, at a CAGR of 8.87 % between 2022 and 2029.

The report has covered the market trends from 2021 to forecast the market through 2029. 2021 is considered a base year. Special attention is given to 2021 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

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COVID-19 impact on market:
COVID-19 has the potential to have three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma.
Pressure Sensor Market Dynamics:
Growing adoption of MEMS-based & micromachine pressure sensors, legislation of stringent safety & industrial pressure sensing standards, growing demand for piezoresistive sensors in the medical and automotive sectors, advancements in nanotechnology & expanding ICT technology applications, preference for capacitive sensors in oil & gas and petrochemical industries, increasing adoption of pressure sensors in consumer goods and wearables are the major driving factors for the growth of pressure sensor market. However, high costs associated with pressure sensors is the major restraining factor for the market growth.

Pressure Sensor Market Segment Analysis:
By Application, Automotive segment accounted for the largest share of the overall pressure-sensing market in 2016. Pressure sensors are majorly used in cars in automatic transmission, tire pressure monitoring, and engine management applications. Pressure sensors are commonly used in lightweight vehicles to ensure smooth engine functioning and safety. The significant increase in sales of cars in APAC countries such as India and China is one of the key contributing factors for the market growth

By technology segment, optical technology is anticipated to witness higher growth rate during the forecast period owing to its rising adoption and environmental advantageous features over other technologies. Optical technology ensures disturbance-free operation in electromagnetic interference environment owing to its immunity to interference. These sensors are also found useful in chemical or explosive material applications further driving the growth of optical technology based pressure sensors market

By Product Type, Differential pressure sensors to witness higher CAGR during the forecast period. With the use of differential pressure sensors, it is possible to differentiate between two pressure sources through two ports, which allows users to offer required pressure inputs to the device for measuring the readings thus driving the growth of pressure sensor market in this segment
Pressure Sensor Market, Key Highlights:
• Analyzes competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Pressure Sensor Market

• The objective of the report is to provide a detailed analysis of the Pressure Sensor Market on the basis of product type, technology, application, and geography

• Complete quantitative analysis of the industry from 2022 to 2029 to enable the stakeholders to capitalize on the prevailing market opportunities

• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain

• Analysis of the Pressure Sensor Market with respect to individual growth trends, prospects, and contribution to the total market

• Segment wise business performance detailed in a report will be worthwhile for the organizations willing to enhance its business

• Provides detailed information regarding the major factors influencing the growth of the Pressure Sensor Market (drivers, restraints, opportunities, and challenges)

• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Pressure Sensor Market, Research Methodology
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get unbiased idea of the market. This exercise was done at country level to get fair idea of the market in countries considered for this study. Later this country specific data was accumulated to come up with regional numbers and then arrive at global market value for Pressure Sensor Market
Pressure Sensor Market, Key Target Audience:
• Electronic design automation (EDA) and design tool vendors

• Raw material and manufacturing equipment suppliers

• Integrated device manufacturers (IDMs)

• Original design manufacturers (ODMs)

• End-users/enterprise-users

• Research institutes and organizations

• Government bodies, venture capitalists, and private equity firms

• Market research and consulting firms

• Enterprise data center professionals
Pressure Sensor Market Regional Analysis:
Among geographical regions, APAC is anticipated to grow at the highest CAGR of 9.6% and is expected to hold the largest share of the overall pressure sensor market. Rising investments in new manufacturing plants establishment, plant capacity expansions, replacement and upgrade of plant equipment would rise sales of industrial and automotive sensors further driving the overall pressure sensor market in this region

Research report categorizes the Pressure Sensor Market based on product type, technology, application, and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Pressure Sensor Market with key developments in companies and market trends.
Scope of Pressure Sensor Market: Inquire before buying



Global Pressure Sensor Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 14.78 Bn.


Forecast Period 2022 to 2029 CAGR:
8.87%
Market Size in 2029:
US $ 29.18 Bn.


 Segments Covered:
by Product Type
• Gauge Pressure Sensors
• Vacuum Pressure Sensors
• Differential Pressure Sensors
• Absolute Pressure Sensors
• Sealed Pressure Sensors


by Technology
• Piezoresistive Pressure Sensors
• Electromagnetic Pressure Sensors
• Optical Pressure Sensors
• Capacitive Pressure Sensors
• Resonant Solid State Pressure Sensors


by Application
• Oil & Gas
• Automotive
• Medical
• Aviation
• Consumer Electronics
• Industrial
• Utilities
• Marine



by Region:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players:
• ABB
• General Electric
• Emerson Electric
• Honeywell
• NXP Semiconductors
• Infineon Technologies
• Siemens
• ST Microelectronics
• Continental
• Denso
• Delphi
• Te Connectivity
• Sensata Technologies

Frequently Asked Questions:

1. Which region has the largest share in Global Pressure Sensor Market?
Ans: North America region holds the highest share in 2021.

2. What is the growth rate of Global Pressure Sensor Market?
Ans: The Global Pressure Sensor Market is growing at a CAGR of 8.87% during forecasting period 2022-2029.

3. What is scope of the Global Pressure Sensor market report?
Ans: Global Pressure Sensor Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Pressure Sensor market?
Ans: The important key players in the Global Pressure Sensor Market are – ABB, General Electric, Emerson Electric, Honeywell, NXP Semiconductors, Infineon Technologies, Siemens, ST Microelectronics, Continental, Denso, Delphi, Te Connectivity and Sensata Technologies

5. What is the study period of this market?
Ans: The Global Pressure Sensor Market is studied from 2021 to 2029.
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