Pressure Sensor Market
Pressure Sensor Market Forecasts to 2030 - Global Analysis By Product (Absolute Pressure Sensors, Differential Pressure Sensors and Vacuum Pressure Sensors), Technology (Resonant Solid-state, Piezoresistive and Other Sensing Methods), Connectivity, Pressure Range, End User and By Geography
According to Stratistics MRC, the Global Pressure Sensor Market is accounted for $21.44 billion in 2024 and is expected to reach $31.11 billion by 2030 growing at a CAGR of 6.4% during the forecast period. A pressure sensor measures the force exerted by a fluid (liquid or gas) on a surface. It converts this force into an electrical signal that can be easily interpreted by other devices or systems. These sensors can detect absolute pressure (relative to a vacuum), gauge pressure (relative to atmospheric pressure), or differential pressure (between two points).
According to the National Highway Traffic Safety Administration (NHTSA), airbags have saved over 50,000 lives in the United States.
Market Dynamics:
Driver:
Automotive industry
The automotive industry is a key driver of the pressure sensor market due to its extensive use of pressure sensors in various applications. Pressure sensors play a crucial role in ensuring vehicle safety, efficiency, and performance by monitoring tire pressure, engine combustion, brake systems, and airbag deployment. As automotive manufacturers strive for advancements in fuel efficiency and emissions reduction, the demand for more accurate and reliable pressure sensors continues to grow. Additionally, the rise of electric vehicles (EVs) and autonomous vehicles (AVs) further fuels the demand for pressure sensors, as these vehicles rely heavily on precise pressure monitoring for optimal operation.
Restraint:
Reliability and durability
The reliability and durability restraints in the pressure sensor market often stem from the demanding operational environments they're deployed in. Pressure sensors face challenges in maintaining consistent accuracy over time, particularly in harsh conditions like extreme temperatures, high pressure, or corrosive atmospheres. Ensuring long-term stability and reliability requires robust design and materials, increasing manufacturing costs. Additionally, factors like mechanical stress, vibration, and electrical interference can impact sensor performance, necessitating rigorous testing and quality control measures.
Opportunity:
IoT (Internet of Things) applications
The pressure sensor market within IoT presents vast opportunities across various sectors. In industrial settings, IoT-enabled pressure sensors enhance efficiency by monitoring and optimizing equipment performance, ensuring timely maintenance, and preventing breakdowns. In healthcare, these sensors enable remote patient monitoring, ensuring accurate data collection for critical conditions like blood pressure management. Agriculture benefits from IoT pressure sensors by providing real-time soil moisture and crop pressure data and optimizing irrigation and resource usage. Smart home applications leverage pressure sensors for security systems, detecting unauthorized entries or changes in air pressure.
Threat:
Substitute technologies
The pressure sensor market faces a substitute technology threat from alternative sensing methods like optical, acoustic, or capacitive sensors. These substitutes offer different measurement principles and may provide advantages such as higher accuracy, faster response times, or better suitability for specific applications. For instance, optical sensors can offer non-contact measurement, while acoustic sensors may excel in harsh environments. As these substitute technologies continue to advance, they pose a challenge to traditional pressure sensors.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the pressure sensor market in several ways. Initially, disruptions in the global supply chain led to shortages of raw materials and components, causing production delays and price fluctuations. Additionally, lockdown measures and economic uncertainty led to decreased demand from industries such as automotive, manufacturing, and aerospace, which are key users of pressure sensors. However, the healthcare sector witnessed a surge in demand for medical devices, including ventilators and monitoring equipment, driving a temporary uptick in pressure sensor sales.
The gauge pressure sensors segment is expected to be the largest during the forecast period
The gauge pressure sensor segment is experiencing significant growth within the pressure sensor market due to several factors. Firstly, industries such as automotive, aerospace, and manufacturing are increasingly integrating pressure sensors into their systems for precise monitoring and control of processes. Additionally, advancements in technology have led to the development of more accurate and reliable gauge pressure sensors, driving up their demand. Moreover, the growing emphasis on efficiency and safety in various applications is fueling the adoption of pressure sensors, further boosting the growth of this segment.
The aviation segment is expected to have the highest CAGR during the forecast period
The aviation segment within the pressure sensor market is experiencing robust growth due to several factors. Advancements in aircraft technology require more precise and reliable pressure sensors to ensure safety and performance. Additionally, the increasing demand for air travel, driven by economic growth and globalization, fuels the need for more aircraft equipped with advanced sensor systems. Furthermore, stringent regulations regarding aircraft safety and fuel efficiency necessitate the adoption of state-of-the-art pressure sensing technologies.
Region with largest share:
The growth of the pressure sensor market in North America can be attributed to several factors. Increasing demand across various industries such as automotive, healthcare, and manufacturing is driving market expansion. Additionally, technological advancements in pressure sensing technologies, such as MEMS-based sensors, are fostering market growth. Moreover, stringent regulatory requirements in industries like automotive for safety and emission controls are boosting the adoption of pressure sensors.
Region with highest CAGR:
The Asia-Pacific region has experienced significant growth in the pressure sensor market due to several key factors. Rapid industrialization across countries like China, India, and South Korea has led to increased demand for pressure sensors in manufacturing and automation processes. Additionally, the expansion of the automotive and consumer electronics industries in the region has fuelled the need for pressure sensors in applications like tire pressure monitoring and touch-sensitive interfaces. The emergence of smart cities and infrastructure projects has further driven demand for pressure sensors in various monitoring and control systems.
Key players in the market
Some of the key players in Pressure Sensor market include ABB Ltd., AlphaSense, Analog Devices, Inc., Aptiv, Bosch GmbH, City Technology Ltd., Continental, Denso Corporation, Dynament Ltd., Emerson Electric Co., Figaro Engineering Inc., Honeywell International Inc., Infineon Technologies, NXP Semiconductors, Sensata Technologies, Siemens AG and Te Connectivity.
Key Developments:
In June 2024, Emerson announced that it has entered into a definitive agreement to sell its remaining interests in the Copeland joint venture (formerly Emerson Climate Technologies) for a transaction value of approximately $3.5 billion, with pre-tax cash proceeds of $3.4 billion, net of the release of $0.1 billion of future indemnity obligations.
In June 2024, Siemens Smart Infrastructure and BASF have announced the first electrical safety product to include components made from biomass-balanced plastics. Used across industrial and infrastructure applications, Siemens SIRIUS 3RV2 circuit breaker is now being manufactured using Ultramid® BMBcertTM and Ultradur® BMBcertTM from BASF.
Products Covered:
• Absolute Pressure Sensors
• Differential Pressure Sensors
• Gauge Pressure Sensors
• Sealed Pressure Sensors
• Vacuum Pressure Sensors
Technologies Covered:
• Resonant Solid-state
• Piezoresistive
• Optical
• Electromagnetic
• Capacitive
• Other Sensing Methods
Connectivities Covered:
• Wireless Sensors
• Wired Sensors
Pressure Ranges Covered:
• Up to 100 psi
• 101 to 1,000 psi
• Above 1,000 psi
End Users Covered:
• Utilities
• Oil & Gas
• Medical
• Marine
• Manufacturing
• Consumer Devices
• Aviation
• Automotive
• Other End Uses
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Technology Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Pressure Sensor Market, By Product
5.1 Introduction
5.2 Absolute Pressure Sensors
5.3 Differential Pressure Sensors
5.4 Gauge Pressure Sensors
5.5 Sealed Pressure Sensors
5.6 Vacuum Pressure Sensors
6 Global Pressure Sensor Market, By Technology
6.1 Introduction
6.2 Resonant Solid-state
6.3 Piezoresistive
6.4 Optical
6.5 Electromagnetic
6.6 Capacitive
6.7 Other Sensing Methods
7 Global Pressure Sensor Market, By Connectivity
7.1 Introduction
7.2 Wireless Sensors
7.3 Wired Sensors
8 Global Pressure Sensor Market, By Pressure Range
8.1 Introduction
8.2 Up to 100 psi
8.3 101 to 1,000 psi
8.4 Above 1,000 psi
9 Global Pressure Sensor Market, By End User
9.1 Introduction
9.2 Utilities
9.3 Oil & Gas
9.4 Medical
9.5 Marine
9.6 Manufacturing
9.7 Consumer Devices
9.8 Aviation
9.9 Automotive
9.10 Other End Uses
10 Global Pressure Sensor Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ABB Ltd.
12.2 AlphaSense
12.3 Analog Devices, Inc.
12.4 Aptiv
12.5 Bosch GmbH
12.6 City Technology Ltd.
12.7 Continental
12.8 Denso Corporation
12.9 Dynament Ltd.
12.10 Emerson Electric Co.
12.11 Figaro Engineering Inc.
12.12 Honeywell International Inc.
12.13 Infineon Technologies
12.14 NXP Semiconductors
12.15 Sensata Technologies
12.16 Siemens AG
12.17 Te Connectivity
List of Tables
1 Global Pressure Sensor Market Outlook, By Region (2022-2030) ($MN)
2 Global Pressure Sensor Market Outlook, By Product (2022-2030) ($MN)
3 Global Pressure Sensor Market Outlook, By Absolute Pressure Sensors (2022-2030) ($MN)
4 Global Pressure Sensor Market Outlook, By Differential Pressure Sensors (2022-2030) ($MN)
5 Global Pressure Sensor Market Outlook, By Gauge Pressure Sensors (2022-2030) ($MN)
6 Global Pressure Sensor Market Outlook, By Sealed Pressure Sensors (2022-2030) ($MN)
7 Global Pressure Sensor Market Outlook, By Vacuum Pressure Sensors (2022-2030) ($MN)
8 Global Pressure Sensor Market Outlook, By Technology (2022-2030) ($MN)
9 Global Pressure Sensor Market Outlook, By Resonant Solid-state (2022-2030) ($MN)
10 Global Pressure Sensor Market Outlook, By Piezoresistive (2022-2030) ($MN)
11 Global Pressure Sensor Market Outlook, By Optical (2022-2030) ($MN)
12 Global Pressure Sensor Market Outlook, By Electromagnetic (2022-2030) ($MN)
13 Global Pressure Sensor Market Outlook, By Capacitive (2022-2030) ($MN)
14 Global Pressure Sensor Market Outlook, By Other Sensing Methods (2022-2030) ($MN)
15 Global Pressure Sensor Market Outlook, By Connectivity (2022-2030) ($MN)
16 Global Pressure Sensor Market Outlook, By Wireless Sensors (2022-2030) ($MN)
17 Global Pressure Sensor Market Outlook, By Wired Sensors (2022-2030) ($MN)
18 Global Pressure Sensor Market Outlook, By Pressure Range (2022-2030) ($MN)
19 Global Pressure Sensor Market Outlook, By Up to 100 psi (2022-2030) ($MN)
20 Global Pressure Sensor Market Outlook, By 101 to 1,000 psi (2022-2030) ($MN)
21 Global Pressure Sensor Market Outlook, By Above 1,000 psi (2022-2030) ($MN)
22 Global Pressure Sensor Market Outlook, By End User (2022-2030) ($MN)
23 Global Pressure Sensor Market Outlook, By Utilities (2022-2030) ($MN)
24 Global Pressure Sensor Market Outlook, By Oil & Gas (2022-2030) ($MN)
25 Global Pressure Sensor Market Outlook, By Medical (2022-2030) ($MN)
26 Global Pressure Sensor Market Outlook, By Marine (2022-2030) ($MN)
27 Global Pressure Sensor Market Outlook, By Manufacturing (2022-2030) ($MN)
28 Global Pressure Sensor Market Outlook, By Consumer Devices (2022-2030) ($MN)
29 Global Pressure Sensor Market Outlook, By Aviation (2022-2030) ($MN)
30 Global Pressure Sensor Market Outlook, By Automotive (2022-2030) ($MN)
31 Global Pressure Sensor Market Outlook, By Other End Uses (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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