The pressure sensor market size was valued at USD 8,003.9 million in 2017 and is estimated to grow at a CAGR of 5.0% over the forecast period. A pressure sensor is an electronic device used for pressure measurement of gases or liquids. They are widely used for controlling and monitoring applications. The demand for pressure sensors is expected to grow substantially owing to the increasing government regulations and rising adoption of the sensors in automotive and medical applications. Technological developments have led to the reduction in the size and cost of pressure sensors, which, in turn, is expected to open new avenues for the market.
The increasing demand for consumer electronic applications such as cellular phones, Personal Digital Assistant (PDA’s), portable computers, and laptops, are expected to drive the market over the forecast period. Moreover, pressure sensors are widely used in the automotive industry in equipment such as Tire Pressure Monitoring Systems (TPMS), engine health management systems, and exhaust gas recirculation systems. The growing production of vehicles worldwide is positively influencing the demand for automotive pressure monitoring devices.
Microelectromechanical Systems (MEMS) are expected to open new growth opportunities for the market over the forecast period owing to their wide usage in the semiconductor industry. MEMS consist of several nanoelectromechanical components embedded in semiconductor chips. The demand for these sensors is gaining momentum owing to their wide adoption in medical devices for measuring barometric pressure, in vivo blood pressure, ex vivo blood pressure, Intraocular Pressure (IOP), and liquid or gas flow.
The key medical devices using pressure sensors include respirators, ventilators, spirometers, oxygen concentrators, and oxygen tanks. The low-cost MEMS pressure sensors are gaining popularity owing to the growing demand for portable healthcare monitoring products.
The shift toward miniaturized systems, printed sensor manufacturing, and flexible electronics for consumer markets is expected to boost the market. However, an increase in the adoption of wireless technology with Internet of Things (IoT) might hamper the demand for wired pressure sensors over the forecast period.
Based on product, pressure sensors are classified into absolute, differential, and gauge. The absolute pressure sensor segment was the dominant segment and accounted for 44.8% of the global market share in 2017. The major growth driver for theegment over the forecast period is the increase in their demand in industrial applications for the measurement of vacuum levels.
Whereas the differential pressure sensor segment is expected to witness growth owing to the rise in the demand in medical industries given their high accuracy and resolution in measuring respiratory flow. Moreover, owing to their wide and diverse range of applications, the adoption of differential pressure sensors is expected to increase over the forecast period.
Pressure sensors are classified into two major types i.e. wired and wireless. The wired pressure segment accounted for 86.4% of the global market share in 2017. The increasing demand for wired pressure sensors in industrial and automotive sectors owing to their lower radio frequency interference, smaller size, low power consumption, compatibility between systems of different manufactures, and their low cost as compared to wireless pressure sensors are expected to drive the growth of the wired pressure sensor segment over the forecast period.
Whereas the higher adoption of consumer products, industrial automation, and air compressor monitoring are expected to drive the growth of the wireless pressure sensor segment over the forecast period. APAC and Latin America are anticipated to emerge as the fastest-growing regional markets for wireless segment.
The market can be classified on the basis of technology into piezoresistive, electromagnetic, capacitive, resonant solid-state, and optical. The piezoresistive segment accounted for 25.9% of the global market share in 2017. The rising use of MEMS sensors in consumer electronics and wearable devices is boosting market growth.
The capacitive segment is predicted to gain substantial market share over the forecast period owing to the wide range of applications of capacitive sensors. Moreover, the capacitive technology is extensively used in touch sensing, motion sensing, and position sensing applications. The technology finds applications in capacity measurement and is increasingly being used in production facilities and commercial automation industry. The use of capacitive pressure sensors in tablets and touchphone displays is expected to propel the growth of the capacitive segment.
On the basis of application, the market is categorized into automotive, consumer electronics, oil & gas, industrial, medical, and aeronautics, among others. The consumer electronics application segment accounted for over 17.0% of the global market share in 2017. The increasing use of MEMS devices in consumer electronics and wearable devices is boosting the segment growth.
The automotive application segment is expected to witness high growth over the forecast period owing to the rise in the use of sensors in tire pressure measurement systems, vehicle automation, and the high demand for concept cars around the globe which is boosting the automotive sector. The sensors further help in emission control, battery control, and occupant detection. The automotive application segment accounted for the largest share in 2017 at 25.3% of the overall market revenue.
The North American market accounted for over 29.7% of the global revenue in 2017. The presence of numerous semiconductor companies, sensor manufacturers, and leading system suppliers in North American countries are propelling the demand in the region.
The Asia Pacific region accounted for 34.8% of the overall revenue in 2017 on account of growth in areas such as automotive, healthcare, and industrial sectors. The rising demand for smart technologies in emerging economies such as China, South Korea, and India is predicted to spur the regional demand for these sensors. The growth in the industrial sector in Brazil is expected to be a major driver for the growth in Latin America.
Prominent players dominating the market include AlphaSense, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., Membrapor AG, Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd.
Sensor manufacturers focus on investing in R&D facilities with an aim to boost technology development. Key players have employed innovative concepts and ideas, improved their manufacturing techniques, and enhanced their products and profitability to gain a competitive edge. They have adopted new product development as their key strategy to cater to the demand of end users. Furthermore, they have also undertaken acquisitions and expansion to improve their product offerings and boost the production process as well as to extend their reach into different geographies.
|
Attribute |
Details |
|
Base year for estimation |
2017 |
|
Actual estimates/Historical data |
2014 - 2017 |
|
Forecast period |
2018 - 2025 |
|
Market representation |
Revenue in USD Million and CAGR from 2018 to 2025 |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, and MEA |
|
Country Scope |
U.S., Canada, Mexico, UK, Germany, France, Russia, Nordic Region, India, Japan, China, Australia, Brazil, Argentine, UAE and Saudi Arabia. |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
15% free customization scope (equivalent to 5 analyst working days) |
If you need specific market information that is not currently within the scope of the report, we will provide it to you as a part of the customization. |
This report forecasts revenue growth at the global and regional levels and analyzes the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global pressure sensor market report on the basis of product, type, technology, application and region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
Absolute Pressure Sensors
Differential Pressure Sensors
Gauge Pressure Sensors
Type Outlook (Revenue, USD Million; 2014 - 2025)
Wired
Wireless
Technology Outlook (Revenue, USD Million; 2014 - 2025)
Piezoresistive
Electromagnetic
Capacitive
Resonant Solid-State
Optical
Others
Application Outlook (Revenue, USD Million; 2014 - 2025)
Automotive
Oil & Gas
Consumer Electronics
Medical
Industrial
Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Nordic Region
Asia Pacific
India
Australia
China
Japan
Latin America
Brazil
Argentina
Middle East & Africa (MEA)
Saudi Arabia
UAE
Avail customized purchase options to meet your exact research needs:
Get your queries resolved from an industry expert.
Design an exclusive study to serve your research needs.
A testimonial for service in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.
"The quality of research they have done for us has been excellent..."
