Pressure Sensor Market by Product (Absolute, Differential, Gauge, Vacuum, and Sealed), Technology (Piezoresistive, Capacitive, Electromagnetic, Resonant), Application (Automotive, Medical, Industrial, Utilities) and Geography - Global Forecast to 2023
“Pressure sensor market expected to grow at a significant rate between 2017 and 2023”
The pressure sensor market is expected to grow at a CAGR of 5.27% between 2017 and 2023 and would be worth USD 8.30 billion in 2017. The key factors driving the growth of the pressure sensor market are advancements in MEMS technology and its rapid adoption in connected devices, growing demand from automotive and medical device industries, increasing adoption of pressure sensors in consumer goods and wearables, and stringent government regulations. Moreover, the development strategies implemented by the players operating in the pressure sensor market, such as agreements, product launches and developments, partnerships, collaborations, mergers and acquisitions, further help boost the market growth. However, the major restraining factor for the growth of this market is the intense pricing pressure.
“Absolute pressure sensor expected to hold a larger share of the pressure sensor market during the forecast period”
The absolute pressure sensor is expected to hold a large share of the overall pressure sensor market owing to the increased use of pressure sensors in the automotive, medical, industrial, and utilities industries for oil pressure monitoring, fuel pressure monitoring, nitrous pressure monitoring, and transmission pressure monitoring.
“Automotive industry expected to hold the largest share of the overall pressure sensor market in 2017”
The largest share of the pressure sensor for the automotive application can be attributed to the increased use of pressure sensors in the oil pressure monitoring, fuel pressure monitoring, nitrous pressure monitoring, transmission pressure monitoring, and tire pressure monitoring.
“Pressure sensor market in Asia Pacific expected to grow at the highest rate during the forecast period”
The pressure sensor market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. The pressure sensor market in countries such as China, India, Japan, and South Korea is expected to grow at the highest CAGR due to the increasing deployment of automated storage and retrieval systems (ASRS) and growing awareness about the benefits of automated systems.
The break-up of the profiles of primary participants for the report has been given below.
• By Company: Tier 1 – 45%, Tier 2 – 30%, and Tier 3 – 25%
• By Designation: C-Level Executives – 40%, and Managers Level – 60%
• By Region: Americas – 30%, APAC – 35%, Europe – 20%, and RoW – 15%.
The key players operating in the pressure sensor market include Honeywell (US), ABB (Switzerland), NXP Semiconductors (Netherland), Infineon Technologies (Germany), Emerson Electric (US), General Electric (US), Siemens (Germany), STMicroelectronics (Switzerland), Robert Bosch (Germany), TE Connectivity (Switzerland), Schneider Electric (France), Denso (Japan), Continental (Germany), Endress+Hauser (Switzerland), SSI Technologies (US), and Delphi (UK).
In this research report, the pressure sensor market is segmented on the basis of product type, technology, application, and geography. The market has been segmented on the basis of product type into differential, absolute, gauge, vacuum, and sealed. Based on technology, the pressure sensor market has been classified into piezoresistive, capacitive, electromagnetic, resonant, optical, and others. The market has been segmented by application into automotive, oil & gas, consumer electronics, medical, industrial, utilities, aviation, marine, and others.
Key Benefits of Buying the Report:
Illustrative segmentation, analysis, and forecast for the market based on product type, technology, application, and geography have been provided to present an overall view of the pressure sensor market.
The value chain analysis is provided for in-depth insight into the pressure sensor market.
The major drivers, restraints, opportunities, and challenges for the pressure sensor market have been detailed in this report.
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