The global Pressure Sensor Market size was valued at USD 7,096.7 million in 2015. Technological proliferation is expected to augment the pressure market growth over the forecast period. The rising demand in diverse application segments is instrumental in energizing the industry prospects. Consumer electronic applications, such as cellular phones, PDAs, portable computers, and laptops, are contributing remarkably in driving the industry growth. Sensors are widely used in the automotive industry in equipment such as Pressure Monitoring Systems (TPMS), engine health management systems, and exhaust gas recirculation systems. The growing production of vehicles, worldwide, is directly influencing the growth in the demand for automotive pressure sensors.
Asia Pacific Pressure Sensor Market revenue by application, 2014 - 2024, (USD Million)
Microelectromechanical Systems (MEMS) is expected to open a new avenue for growth over the forecast period. Such sensors are increasingly used in the semiconductor industry. MEMS consists of several nanoelectromechanical components embedded in semiconductor chips.The sensors are gaining momentum owing to the high 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 forportable healthcare monitoring products.
The industry can be classified on the basis of technology into piezoresistive, electromagnetic, capacitive, resonant solid-state, and optical. The piezoresistive technology based sensors accounted for 27.7% of the global market share in 2015. The escalating use of MEMS sensors in consumer electronics and wearable devices is impelling growth in the industry.
Piezoresistive sensors are low-cost sensors and can achieve different pressure levels depending upon the intended application utility. The high-cost efficiency is instrumental in energizing the growth prospects of piezoresistive pressure sensors.
The capacitive technology segment is predicted to gain substantially, owing to its wide application range. The capacitive technology is extensively used in touch sensing, motion sensing, and position sensing. The technology finds application in capacity measurement and is increasingly used in factory and commercial automation industry. The use of capacitive pressure sensors in tablets and touchphone displays is expected to strengthen the industry growth.
The industry can be classifiedon the basis of applications into six types: automotive, consumer electronics, oil & gas, industrial, medical, and aeronautics, among others. The consumer electronics application accounted for over 16% of the global market share in 2015. The increasing use of MEMS sensors in consumer electronics and wearable devices is impelling growth in the industry.
The rise in the use of pressure sensors in tire pressure measurement systems, vehicle automation, and high demand for concept cars around the globe is creating a high demand in the automotive sector, which is leading to industry expansion. The sensors further facilitate in emission control, battery control, and occupant detection.The automotive application segment accounted for the largest share in 2015, generating about 27.2% of the overall revenue.
The market forpressure sensors in North America accounted for over 29.3% of the global industry share in 2015. The presence of large semiconductor companies, sensor manufacturers, and efficient system suppliers in the North American countries, such as the U.S. and Canada, is propelling the industry growth in the region.
The Asia Pacific region accounted for 33.5% of the overall revenue in 2015 on account of growth in application areassuch as automotive, healthcare, and industrial sectors. The escalating demand in the emerging economies of China, South Korea, and India is predicted to spur the regional demand for such sensors. The growth in the industrial sector and manufacturing industry in Brazil is expected to be a major driver for the market growth in the RoW region.
Industry players are accentuating on the development of innovative & miniaturized pressure sensors and are heavily investing in R&D activities. Prominent vendors are emphasizing on increasing the market share by adopting several expansion strategies such as mergers & acquisitions. The opportunities presented by the industry spanning several end-use applications are driving the interests of new players to enter the market. The key industry participants include Analog Devices, Bosch, ABB Ltd., Delphi Corporation, General Electric Co., Emerson Electric Company, Infineon Technologies, STMicroelectronics N.V., and Siemens AG.
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