A pressure sensor generates a signal regarding the pressure imposed. Typically, the output signal is electrical, but it might also include additional means, such as auditory signals, optic signals, and visual signals. Pressure sensors can be used to measure variables such as fluid/gas flow, speed, water level, and altitude. They find application in a range of industries such as biomedical instrumentation, aviation, automotive, and marine.
The global pressure sensor market can be segmented on the basis of type, technology, product type, and end-use industry.
On the basis of type, the market can be segmented into wired pressure sensors and wireless pressure sensors. The wired pressure sensor segment is projected to account for the largest market share, owing to these sensors’ small size and low power consumption.
On the basis of technology, the market can be segmented into piezoresistive, electromagnetic, resonant, solid-state capacitive, and optical. The capacitive segment is predicted to gain substantial market share over the forecast period, owing to the widespread use of capacitive pressure sensors in tablets and touchphone displays.
On the basis of end-user industry, the market can be segmented into automotive, industrial, healthcare, electronics, and others. The automotive sector is expected to grow at a fast rate, owing to the increasing use of sensors in tire pressure measurement systems, vehicle automation, and the high demand for concept cars around the globe.
Geographically, the global pressure sensor market has been segmented into North America, Europe, Asia Pacific, and LAMEA.
North America is anticipated to hold the largest share in the global pressure sensor market, owing to the increasing demand from the automotive segment for various applications such as indicating exhaust gas pressure in EGR systems and TPMS. In addition, government laws mandating the use of pressure sensors in automobiles are also contributing to market growth in the region. For instance, the U.S. government implemented the TREAD Act for the mandatory installation of tire pressure monitoring systems (TPMSs) in all types of automobiles.
Europe is one of the prominent regions in the global pressure sensor market, backed by technological advancements. Germany is expected to grow at the highest CAGR, owing to the strong presence of automobile giants such as Audi, BMW, and Mercedes-Benz. Audi’s many models are equipped with pressure sensors, which are integrated into the Electronic Stabilization Program (ESP).
Asia Pacific is the fastest growing region in the pressure sensor market, owing to the increasing production of motor vehicles that use pressure sensors in countries such as India, China, South Korea, and Japan.
Implementation of government regulations mandating the use of pressure sensors in automobiles across the Middle East is expected to drive the growth of the LAMEA pressure sensor market over the forecast period.
Some of the key players operating in the pressure sensor market are Bosch, Honeywell International, Freescale Semiconductor, ABB Ltd, Analog Devices Inc., Delphi Automotive PLC, Infineon Technologies, Emerson Process Management, Panasonic Corporation, and Freescale Semiconductor Ltd.
Key players are focusing on R&D investments with an aim to boost technological development. Manufacturers have employed innovative concepts and ideas, improved their manufacturing techniques, and enhanced their products and profitability to gain a competitive edge. Many companies 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 extend their reach into different geographies.
In March 2017, Bosch launched the smallest high-performance barometric pressure sensor with a compact size of only 2.0 x 2.0 x 0.75 mm³ at CES 2017.
Pressure Sensor Market: Segmentation
By End-Use Industry