Pressure Sensor Market is estimated to be US$ 30.24 billion by 2030 with a CAGR of 8.3% during the forecast period

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Published Date: April 2024

Pressure Sensor Market accounted for US$ 13.65 billion in 2020 and is estimated to be US$ 30.24 billion by 2030 and is anticipated to register a CAGR of 8.3%. A pressure sensor uses a pressure detecting device to translate changes in gas or liquid pressure into an electrical signal, and then generates an analogue output proportionate to the pressure or a switching output that functions at a specific pressure level. SUNX pressure sensors from Panasonic Industrial Devices use semiconductor transducers as sensing devices, which have a long life and great reliability. Electronic and mechanical pressure sensors are the two types of pressure sensors. Mechanical pressure sensors, which are relatively inexpensive, were previously widely employed. Electronic pressure sensors, on the other hand, are becoming more popular due to their low dependability and short life.

The report " Pressure Sensor Market, By Type (Piezoresistive, Capacitive, Resonant Solid State, Optical, Electromagnetic, and Others) and by Application (Automotive, Consumer Electronics, Oil & Gas, Medical, Industrial Applications, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030’’

Key Highlights:

In March 2021, Bosch Sensortec developed the BMP384, a robust barometric pressure sensor in a compact package. The new sensor's package design utilizes a special gel to protect it against the ingression of mainly water, but also to other liquids and dust in combination with the required integration concept.
In September 2021, TDK Corporation announces the worldwide availability of the InvenSense ICP-20100 platform, a new generation, feature-rich barometric pressure sensor, ideal for applications in smart phones, tablets, drones, and smart home appliances. With architectural innovations, ICP-20100 improves on the industry-leading accuracy, long term drift, and temperature stability of the SmartPressure™ product family.

Analyst View:

Pressure sensors are used extensively in the automotive industry. Because of its high precision, high dependability, robustness, and low cost, pressure sensors are commonly employed in automobiles. Pressure sensors are utilised in a variety of automobile applications, including engine gas recirculation (EGR) monitoring, engine management systems (EMS), collision avoidance systems, advanced braking systems, and tyre pressure monitoring systems. For many automotive applications, absolute pressure sensors and differential pressure sensors are commonly used. Automobile manufacturers utilise pressure sensors in their vehicles as a result of this to improve the driving experience, ensure vehicle, driver, and passenger safety, and minimise pollution.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Pressure Sensor Market, By Type (Piezoresistive, Capacitive, Resonant Solid State, Optical, Electromagnetic, and Others) and by Application (Automotive, Consumer Electronics, Oil & Gas, Medical, Industrial Applications, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”

Key Market Insights from the report:

Pressure Sensor Market accounted for US$ 13.65 billion in 2020 and is estimated to be US$ 30.24 billion by 2030 and is anticipated to register a CAGR of 8.3%. Pressure Sensor is segmented into type, application and region.

Based on Type, the Pressure Sensor Market is segmented into Piezoresistive, Capacitive, Resonant Solid State, Optical, Electromagnetic, and Others.
Based on Application, the Pressure Sensor Market is segmented into Automotive, Consumer Electronics, Oil & Gas, Medical, Industrial Applications, and Others.
By Region, the Pressure Sensor Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Pressure Sensor Market:

The key players in the Pressure Sensor Market includes Emerson Electric Co., ABB Ltd., Robert Bosch Gmbh, Analog Devices, Inc., Denso Corporation, Delphi Automotive Plc, Honeywell International, Inc., Schneider Electric¸ Inc., NXP Semiconductors and N.V. and Damco Corporation.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Market Purview

Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restraints
  - Market Opportunities
  - Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
  - Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
  - Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions