GVR Report cover Pressure Sensor Market Size, Share & Trends Report

Pressure Sensor Market Size, Share & Trends Analysis Report By Product, By Type, By Technology, By Application, By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-246-4
  • Number of Pages: 150
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Technology

Report Overview

The global pressure sensor market was valued at USD 17.81 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 4.4% from 2022 to 2030. The market growth can be attributed to the rising demand for energy-efficient pressure sensors for consumer electronics, automotive, and portable healthcare wearables. Pressure sensors are witnessing significant growth, owing to their increasing use across industries for applications such as alarm systems, water purifiers, medical breathing appliances, refrigeration systems, and off-road constructions. Moreover, people are moving towards more automation-based solutions and services, which also leads to an increasing focus on IoT-based devices due to their innovative and advanced applications.

U.S. pressure sensor market size, by product, 2020 - 2030 (USD billion)

The growing use of pressure sensors in household appliances such as refrigerators and washing machines is driving the demand for pressure sensors. Numerous pressure sensor providers are also focusing on developing innovative products aimed at providing a better customer experience. For instance, in March 2021, Bosch Sensortec, a pressure sensor provider, launched BMP384, which is a robust barometric pressure sensor. BMP384 is a high-performance and low-consumption sensor, which makes it ideal for home appliances, wearables, and industrial applications in harsh environments.

Various companies across the globe are focusing on providing pressure sensors for IoT systems. Pressure sensors are used in IoT systems to monitor devices and systems driven by pressure signals. For instance, in July 2020, Yokogawa Electric Corporation, electrical engineering, and software company announced the introduction of new temperature and pressure sensors for the Sushi Sensor wireless industrial IoT solutions in North America, Europe, and specific Southeast Asian markets. These sensors offered equipment condition monitoring based on wider plant data and enabled the detection of signs of equipment abnormalities at an early stage.

In recent years, the automotive industry has been undergoing a technology transition with an increasing focus on comfort and safety, which provides ample opportunities for the development of these pressure sensors. At the same time, increasing sensor-rich applications in drones, autonomous vehicles, and AR/VR equipment are further accelerating the need for MEMS pressure sensors. Moreover, the increasing military spending across regions is also paving the way for technologies like drones and uncrewed aerial vehicles (UAVs). Such factors bode well for the growth of the market during the forecast period. Several OEMs have started using MEMS pressure sensors in smartphones, tablets, and wearables. For instance, Samsung has integrated pressure sensors in its flagship phone, the Galaxy S4. Other handset makers, such as Sony Mobile Communications AB, Apple Inc., and Xiaomi Inc., have also started using MEMS pressure sensors in their respective smartphones. Consumers’ preference for compact consumer electronics and the advances in MEMS technology have also enabled the development of sensors that are smaller in size. As a result, the adoption of MEMS pressure sensors in consumer electronics is growing. MEMS technology enables the integration of sensors, actuators, mechanical components, and other electronics on a single silicon or germanium base.

The COVID-19 pandemic adversely impacted the pressure sensor market, owing to the disruptions in the supply chain activities of the automotive industries. The pandemic has posed significant challenges for supply chains worldwide. The varying degrees of lockdowns imposed globally during the early phase of the COVID-19 pandemic slowed down or temporarily stopped the flow of finished goods and raw materials, thus disrupting the manufacturing sector across the globe.

Product Insights

The absolute pressure sensor segment dominated the market in 2021 and accounted for more than 46% share of the global revenue. The growing demand for error-free engine functionality for manufacturing safe and secure vehicles is a significant factor driving the growth of the segment. Moreover, the increasing demand for these absolute pressure sensors for vacuum packaging of medical products in a clean environment further boosts the growth of the segment. An absolute pressure sensor is a closed system that works by referencing a perfect vacuum and creates pressure readings that are unaffected by the atmospheric pressure. Absolute pressure sensors are used in applications that require the monitoring of industrial, high-performance vacuum pumps.

The differential pressure sensor segment is anticipated to register the highest growth rate during the forecast period. Differential pressure sensors are used in industrial environments where a pressure difference is utilized to determine the flow of liquids and gases. Numerous differential pressure sensor providers are striking partnerships with other companies to obtain technical support for various industrial applications. For instance, in June 2021, Superior Sensor Technology, a differential pressure sensor developer, announced its partnership with Angst+Pfister Sensors and Power, a power and sensor solution provider. Through this partnership, Angst+Pfister Sensors and Power would distribute, promote and provide technical support for Superior Sensor’s pressure sensors for medical, HVAC, and industrial applications in Europe.

Type Insights

The wired segment dominated the market in 2021 and accounted for more than 85.0% share of the global revenue. A wired pressure sensor is available in different technologies, such as photoelectric, capacitive, and inductive. The rising demand for wired pressure sensors in industrial, automotive, and other sectors owing to their lower radio frequency interference, smaller size, compatibility between manufacturers, and lower cost installation properties is expected to drive the growth of the wired pressure sensors segment during the forecast period. Lower power consumption by a wired pressure sensor is further contributing to the segment growth.

The wireless segment is expected to register the fastest growth during the forecast period. The benefits offered by wireless pressure sensors, such as ease of portability, enhanced safety, and cost-effectiveness, are expected to drive the growth of the segment. The increasing use of wireless pressure sensors in applications, such as consumer products, industrial automation & manufacturing, air compressor monitoring, and pool pump systems is expected to drive the segment growth during the forecast period. Self-contained, wellhead pressure, battery-powered monitoring, and casing pressure monitoring solutions are propelling the growth of the wireless pressure sensor segment.

Technology Insights

The piezoresistive segment dominated the market in 2021 and accounted for more than 25% share of the global revenue. The rising adoption of the piezoresistive pressure sensors in cars and passenger vehicles for better emissions and safety is a major factor driving the segment's growth. Piezoresistive pressure sensors are used in a wide range of aerospace and industrial applications, owing to their robustness, rapid response time, and high frequency. Several pressure sensor manufacturers are focusing on developing waterproof sensors that are resistant to external disturbances. For instance, in October 2021, Rohm Semiconductor, a pressure sensor provider, released the BM1390GLV-Z, a waterproof barometric pressure sensor based on piezoresistive MEMS technology.

The electromagnetic segment is anticipated to register the fastest growth during the forecast period. A growing focus on the property of converting applied pressure into an electrical signal by the electromagnetic pressure sensor is expected to drive the demand for these sensors in electrical applications during the forecast period. Benefits such as high efficiency, low cost, and suitability of electrical applications are further anticipated to propel the segment growth. According to the statistics provided by Home Appliance World, consumers across the world spent USD 1.26 trillion on purchasing home appliances in 2020. Thus, the increasing sales of home appliances are driving the segment growth in the current days.

Application Insights

The automotive segment dominated the market in 2021 and accounted for more than 27% share of the global revenue. Pressure sensors are used in electric cars to stop the doors from catching fingers. Moreover, numerous pressure sensor companies worldwide are developing and launching new pressure sensors and systems to measure the dynamic pressure system in moving vehicles. For instance, in May 2020, Luna, a pressure sensor provider, launched an innovative new pressure sensor and system used to measure the dynamic pressure across the surface of a moving vehicle using Luna interrogators and fiber optics and to capture the data.

Global pressure sensor market share, by application, 2021 (%)

The industrial segment is anticipated to register the fastest growth during the forecast period. Differential pressure sensors are used for monitoring process flows where fluid needs to pass through barriers such as a filter. A differential pressure sensor used in industrial applications provides benefits such as oil-free designs, high proof pressure ratings, increased resolution, and better accuracy. Furthermore, the increasing use of pressure sensors in applications such as transmissions and oil & gas equipment is driving the segment growth.  

Regional Insights

Asia Pacific regional market dominated the pressure sensor market in 2021 and accounted for over 38.0% share of the global revenue. The growth of the segment can be attributed to the large-scale production of electronic components as well as the rising investments in the R&D. The increasing demand for consumer electronics such as tablets, wearable devices, and smartphones is driving the demand for pressure sensors in this region. India and China are contributing to a large share of the regional pressure sensor market. China is a mature marketplace and features strong business opportunities. The Danfoss Group, a market leader in software and engineering technologies, has heavily invested in the pressure sensors market and is expected to accelerate the growth of China's pressure sensors market.

North America is expected to emerge as the fastest-growing regional market during the forecast period. The North American regional market is projected to witness growth, owing to the high demand for pressure sensors in TPMS and EGR system applications in the automotive segment. The presence of key players in the region is also one of the major factors driving the market growth. At the same time, the increasing demand for pressure sensors in industries such as oil & gas, petrochemical, and medical is also accelerating the market growth in this region.

Key Companies & Market Share Insights

The competitive landscape of the market is highly fragmented in nature. Market players are focused on strategies such as partnerships, joint ventures, product innovation, research & development, and geographical expansion to strengthen their market positions. For instance, in June 2018, ABB acquired GE Industrial Solutions (GEIS) for enhancing its position in electrification and expanding its presence in the region. Additionally, in August 2017, Omron Corporation acquired Microscan Systems, Inc., a subsidiary of Spectris plc. The acquisition enabled Omron Corporation to improve the control of its manufacturing equipment and production lines.

The key players are focused on enhancing their product offerings to better cater to the changing needs of users and stay competitive. For instance, in January 2018, Continental AG launched the second generation of high-temperature sensors and differential pressure sensors in the Chinese market. These sensors were launched to decrease emissions from vehicles and were the latest innovations of the company in exhaust gas sensor technology. Some of the prominent players in the global pressure sensor market are:

  • AlphaSense

  • City Technology Ltd.

  • Dynament Ltd.

  • Figaro Engineering Inc.

  • Membrapor AG.

  • Nemoto & Co., Ltd.

  • Robert Bosch LLC.

  • ABB Ltd.

  • Siemens AG.

  • GfG Europe Ltd

Pressure Sensor Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 18.72 billion

Revenue forecast in 2030

USD 26.44 billion

Growth rate

CAGR of 4.4 % from 2022 to 2030

Base year of estimation

2021

Historical data

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, type, technology, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; and Middle East & Africa

Country scope

U.S.; Canada; Mexico; U.K.; Germany; France; Russia; Nordic Region; China; Japan; India; Australia; Brazil; Argentina; UAE; Saudi Arabia

Key companies profiled

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

Customization scope

Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional, and segment scope

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

 

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the pressure sensor market based on product, type, technology, application, and region.

  • Product Outlook (Revenue, USD Million, 2017 - 2030)

    • Absolute Pressure Sensors

    • Differential Pressure Sensors

    • Gauge Pressure Sensors

  • Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Wired

    • Wireless

  • Technology Outlook (Revenue, USD Million, 2017 - 2030)

    • Piezoresistive

    • Electromagnetic

    • Capacitive

    • Resonant Solid-state

    • Optical

    • Others

  • Application Outlook (Revenue, USD Million, 2017 - 2030)

    • Automotive

    • Oil & Gas

    • Consumer Electronics

    • Medical

    • Industrial

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • U.K.

      • Germany

      • France

      • Russia

      • Nordic Region

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Latin America

      • Brazil

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

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