Pressure Sensor Market

Introduction of the Pressure Sensor Market Report

A pressure sensor is an instrument that consist of a pressure sensitive element, which can determine the actual pressure applied to the sensor. The pressure sensor converts the pressure to a small electrical signal that is transmitted and displayed. These sensors are for measuring different media including liquids, gases, flammable substances, and corrosive substances.

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Market Dynamic

Key Drivers and Emerging Trends

Growing industrialization, the rising need for automation in industries, and increasing government regulations mandating the use of pressure sensors in industries are some of the prominent factors expected to drive the growth of the pressure sensor market over the forecast period. Additionally, the growing demand for miniaturized consumer devices and increasing utilization of pressure sensors in consumer electronics including cellular phones, portable computers, wearable electronic devices, and laptops is further expected to boost the market growth. Moreover, increasing development of smart homes, smart buildings, and smart cities, rising adoption of Internet of Things (IoT) and connected smart home devices is anticipated to fuel the pressure sensor industry growth.

Furthermore, the increasing adoption of electric vehicles together with the growing application of pressure sensors in numerous applications including HVAC system, cooling & heating of battery management systems, monitoring exhaust recirculation, tire pressure monitoring system (TPMS), and the high-performance gearbox applications, in electric cars and hybrid electric vehicles, is projected to provide lucrative growth opportunities to the market. According to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with a 40% year-on-year increase and accounted for 2.6% of the global car sales. This is expected to drive the growth of the electric vehicle industry, thereby contributing to the growth of the pressure sensor market.

Restraint in the Pressure Sensor Market

However, high installation and replacement cost of pressure sensors in electronic devices are expected to hamper the growth of the pressure sensor market size. Moreover, the outbreak of the COVID-19 pandemic has adversely impacted the growth of various industries, including construction, automotive, oil & gas, and others due to the disruption in the supply chain and manufacturing process.

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Application – Segment Analysis

Based on application, the automotive application segment is expected to hold a major share in the market owing to the growing electrification of vehicle and increase in the installation of pressure sensors for various application including detecting early faults in hydraulic brakes, cleaning exhaust filters, detecting leaking vapours, and others. For instance, in 2019, JK Tyre & Industries, one of the leading Indian tyre makers launched Treel Sensors, a Tyre Pressure Monitoring System (TPMS) for smart monitoring and maintenance of tyres of commercial and passenger vehicle.

Pressure Management Type – Segment Analysis

Based on pressure management type, the absolute pressure sensor segment is projected to account for a high market share. This is primarily due to the increasing adoption of absolute pressure sensors in vacuum packaging of medical products to ensure sanitary and bacteria-free delivery; high level of vacuum packaging of perishable food to prevent them from degrading; and in applications requiring the monitoring of industrial high-performance vacuum pumps.

Technology – Segment Analysis

Based on the technology, the MEMS segment is anticipated to grow at a substantial rate over the forecast period owing to widespread use of MEMS pressure sensors in medical devices that include respirators, ventilators, spirometers, oxygen concentrators, and oxygen tanks. Additionally, increasing popularity of the low-cost MEMS pressure sensors and the growing demand for portable healthcare monitoring products is further expected to stimulate the market growth.

Media Measurement Type – Segment Analysis

Based on the media measurement type, barometric pressure sensors segment is projected to grow significantly over the forecast period primarily due to its accuracy, stability, and durability at an affordable cost. Increasing application of barometric pressure sensor in pressure measurement in weather networks for weather forecasting; unmanned aerial vehicle; and wearable devices for monitoring leisure, sport and fitness activities is further supporting the market growth.

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Regional – Segment Analysis:

Based on region, Asia Pacific is anticipated to grow at a significant CAGR during the forecast period. This is primarily due to the growing number of industries including automotive, aviation, healthcare, consumer electronics, and construction in the region. Moreover, according to the International Energy Agency (IEA), China accounted for 47% of the global electric car sales in 2019, which is expected to drive the automotive industry, thereby, contributing to the growth of the pressure sensor market over the forecast period in the region.

Top Market Players

Several Leading players operating in the market, include, Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., Robert Bosch GmbH, ABB Ltd., Emerson Electric Co., Infineon Technologies AG, Schneider Electric SE, Johnson Controls International Plc, and Sensata Technologies, Inc., among others. 

Key Developments:

• • In 2020, Honeywell International Inc., launched a series of high-performance Media Isolated stainless steel pressure sensors (MIP) for the industrial and HVAC market. These sensors are designed to withstand extreme temperatures and resist corrosion, and they can be used for designing high-performance HVAC systems, medical and biomedical processes, marine systems, aircraft systems, environmental engineering, laboratory, wastewater and other industrial applications.
  • In 2020, Robert Bosch GmbH launched barometric pressure sensor BMP390 for smartphones, wearable and hearable devices. This pressure sensor can be used to altitude tracking application such as enhanced emergency calls in smartphones.

Segments covered in the Report:

The global Pressure Sensor Market has been segmented on the basis of type, end-use industry, application, and key regions. Based on application, the market is segmented into automotive, medical, industrial, building and home automation, consumer electronics, and others. Based on the pressure measurement type, the market is segmented into absolute pressure sensor, gauge pressure sensor, and differential pressure sensor. Based on technology, the market is segmented into resistive, capacitive, piezoelectric, optical, and MEMS. Based on media measurement type, the market is segmented into air pressure sensor, barometric pressure sensor, gas pressure sensor, water pressure sensor, liquid pressure sensor, and others. 

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Key questions answered in this research report:

• • At what pace is global Pressure Sensor Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Pressure Sensor Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Pressure Sensor Market?
  • Which application generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What are the various technologies of global Pressure Sensor Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Application, By Pressure Measure Type, By Technology, By Media Measurement Type, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Rockwell Automation, Inc., Siemens AG, Honeywell International Inc., Robert Bosch GmbH, ABB Ltd., Emerson Electric Co., Infineon Technologies AG, Schneider Electric SE, Johnson Controls International Plc, and Sensata Technologies, Inc., among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Pressure Sensor Market by Application

• • Automotive
  • Medical
  • Industrial
  • Building and Home Automation
  • Consumer Electronics
  • Others

Global Pressure Sensor Market by Pressure Measurement Type

• • Absolute Pressure Sensor
  • Gauge Pressure Sensor
  • Differential Pressure Sensor

Global Pressure Sensor Market by Technology

• • Resistive
  • Capacitive
  • Piezoelectric
  • Optical
  • MEMS

Global Pressure Sensor Market by Media Measurement Type

• • Air Pressure Sensor
  • Barometric Pressure Sensor
  • Gas Pressure Sensor
  • Water Pressure Sensor
  • Liquid Pressure Sensor
  • Pneumatic and Hydraulic Pressure Sensor

Global Pressure Sensor Market by Region

• • North America Pressure Sensor Market (Option 1: As a part of the free 25% customization)
    • North America Market by Application
    • North America Market by Pressure Measurement Type
    • North America Market by Technology
    • North America Market by Media Measurement Type
    • US Market All-Up
    • Canada Market All-Up
  • Europe Pressure Sensor Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Application
    • Europe Market by Pressure Measurement Type
    • Europe Market by Technology
    • Europe Market by Media Measurement Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Pressure Sensor Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Application
    • Asia-Pacific Market by Pressure Measurement Type
    • Asia-Pacific Market by Technology
    • Asia-Pacific Market by Media Measurement Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Pressure Sensor Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Application
    • RoW Market by Pressure Measurement Type
    • RoW Market by Technology
    • RoW Market by Media Measurement Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Pressure Sensor Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Rockwell Automation, Inc.
  • Siemens AG
  • Honeywell International Inc.
  • Robert Bosch GmbH 
  • ABB Ltd.
  • Emerson Electric Co.
  • Infineon Technologies AG
  • Schneider Electric SE
  • Johnson Controls International Plc
  • Sensata Technologies, Inc.