The global pressure sensor market size was valued at USD 13,810.3 million in 2021. It is projected to reach USD 35,041.85 million by 2030, growing at a CAGR of 10.90% during the forecast period (2022–2030).
A pressure sensor is an instrument for measuring the pressure of gases or liquids. The force necessary to prevent a fluid from expanding is expressed as pressure, typically expressed in force per unit area. Pressure sensors market expansion is anticipated to be fueled by rising consumer demand for various types of sensors, particularly in driverless vehicles. Pressure sensor markets in the automobile sector are expected to have new growth prospects due to advanced technology and developments like Advanced Driver Assistance Systems (ADAS) and Emission Control Sensors (ECS). The rise in demand for sensors for the dashboard and diagnostic reasons fosters the growth of the pressure sensors market during the projected period.
The demand for pressure sensors has grown and is expected to do so again over the projection period. Car manufacturers' market share and growth are boosted as a result. Pressure sensors are the primary components that reduce fuel consumption and emissions to reduce air pollution. Additionally, pressure sensors are being used in automobile applications, including tire pressure monitoring systems (TPMS), advanced driver assistance systems (ADAS), and manifold absolute pressure sensors (MAPS) for a variety of passenger safety concerns. Additionally, they assist with airbag deployment, throttle position, weight, and passenger sensing.
For precise operation, high-frequency RF-MEMS pressure sensors are used in various consumer electronics products, including tablets, wearable tech, and smartphones. Smartphone usage is anticipated to expand in the consumer electronics sector. Consumer devices can integrate pressure sensors in various ways to offer convenience, interior navigation, and a user-friendly interface. One of the main drivers of the MEMS pressure sensors industry is the expansion of the market for smartphones and tablets. The expansion of wearable gadgets due to increased market share is another significant application that is picking up speed.
Although installing sensors enables more features and increases automation, it comes at a cost. Hence it is avoided in cost-effective applications. These sensors cause heating problems and shorten the total life of continually used gadgets like smartphones, computers, and cameras since they contain temperature-sensitive components. Sensors, which depend on device batteries for functioning, shosrten the battery life of gadgets that require batteries as their power source.
Additionally, small and medium-sized pressure sensor manufacturers often lack the financial resources to have a severe task due to the high development expenses associated with R&D operations to develop new products. Only high-end cars use these sensors due to the high costs associated with the sensor's whole manufacturing process. Due to the scarcity of manufacturers who can produce high-quality sensors, there is an increase in demand for its supply. Additionally, integrating these sensors into functional systems is expensive, particularly in the car industry. Other limitations are the lack of product distinctiveness, excessive power consumption, and accuracy.
People are drawn to automation-based solutions and services in the current IT-dominated environment. Due to their cutting-edge and novel uses, IoT-based gadgets receive more attention. IoT is a technology that enables internet connectivity or internetworking for practically all applications, including those found in cars, buildings, microwaves, refrigerators, and smartphones. It links these components to one network using electronic software, sensors, and actuators. It also includes several touch, proximity, pressure, and temperature sensors.
Machine-to-machine (M2M) and person-to-computer (P2C) communication are made more accessible by IoT-based gadgets. These tools also aid users in the collection and transmission of electronic data. In the infrastructure sector, smart sensors are installed on bridges and convey information about fractures, tension, and warpages. Additionally, these sensors alert the approaching car to weather conditions and transmit information via the Internet. These intelligent sensors are employed in the electronics industry in power networks to monitor electricity consumption.
The global pressure sensor market is segmented by type, technology, and application.
Based on type, the global market is bifurcated into absolute pressure sensors, gauge pressure sensors, and differential pressure sensors.
The absolute pressure sensor segment is the highest contributor to the market and is expected to grow at a CAGR of 9.00% during the forecast period. Absolute pressure sensors gauge variations in biometric pressure relative to a perfect vacuum or zero absolute pressure. Final measurements are made possible with absolute sensors by comparing the goal pressure to the known pressure of a complete vacuum. Absolute pressure sensors are also becoming more popular in domestic applications due to the demand for smartwatches and navigation systems. The engine electronic control unit (ECU) uses absolute pressure sensors in the automotive sector to calculate the timing of the ignition and the ideal air-fuel ratio for combustion.
The pressure is measured about atmospheric pressure by gauge pressure sensors. When a process is affected by changes in atmospheric pressure, gauge pressure sensors are used to measure or monitor pressure. Gauge pressure is the range of pressure between zero and positive pressure. Vacuum gauge pressure is the pressure when it varies from air to complete vacuum. Gauge pressure sensors are utilized to determine the level of a liquid in an open tank. Additionally, gauge pressure sensors are frequently used in medical applications for ex-vivo blood pressure readings, fluid extraction from wounds, and hyperbaric chambers.
Based on the technology, the global market is bifurcated into piezoresistive, electromagnetic, capacitive, deep solid state, optical, and others.
The piezoresistive segment owns the highest contributor market share and is expected to grow at a CAGR of 7.60% during the forecast period. One of the most common types of pressure sensors utilizes piezoresistive strain gauges. This method of measuring pressure takes advantage of a material's change in electrical resistance upon stretching. Due to its simplicity and durability, this sensor technology is appropriate for many applications. High and low-pressure applications use this technology to measure absolute, relative, and differential pressures. This technology is not suitable for portable or battery-operated systems. The market is expanding due to the rising demand for piezoresistive sensors in various industries. The top manufacturers' market share is growing thanks to various biomedical, automotive, and home appliance applications.
The most common stainless steel pressure sensor type is an electromagnetic pressure sensor. These employ a diaphragm created using low-temperature vapor deposition. Electromagnetic pressure sensors are becoming increasingly popular in various industrial applications aiming to boost machinery efficiency. Non-destructive evaluation technologies like electromagnetic sensors are frequently utilized in infrastructure health monitoring and damage detection.
Based on the application, the global market is bifurcated into automotive, oil and gas, consumer electronics, medical, industrial, and others.
The automotive segment is the highest contributor to the market and is expected to grow at a CAGR of 10.80% during the forecast period. The sensors used in the automobile industry include those frequently seen in autonomous cars and other top-of-the-line luxury vehicles to offer an automated setup and improved user experience. Every year, automakers like Audi, BMW, and Volkswagen increase their R&D budgets to keep ahead of the competition. In order to improve workplace comfort and boost total automation, these car manufacturing businesses are expanding the number of sensors utilized in their automobiles.
Manufacturers of electronic products tend to add more sensors to their products to improve the user interface overall and compete in the fiercely competitive market. Smartphones, laptops, digital cameras, and digital recorders are among the electronic products. Pressure sensors are increasingly used in consumer electronics goods, spurred by the industry's intense competition and players' focus on improving items like digital recorders, smartphones, and laptops. The consumer electronics sector has seen significant growth in the demand for pressure. These pressure sensors are used in various consumer electronics products, including smartphones, wearable tech, and tablets, to carry out various tasks precisely.
The global pressure sensor market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
Asia-Pacific is the largest shareholder in the global pressure sensor market and is expected to grow at a CAGR of 12.10% during the forecast period. The market has seen the fastest growth in the Asia-Pacific region. Key players in this industry have numerous opportunities in India, China, and Japan. The increase in disposable income and the number of health-conscious consumers in these nations assist economic growth. Due to the existence of China and India, the two most populous countries on earth, the region can house the majority of the world's population. The use of smart electronic equipment in the residential, commercial, and industrial sectors and the rising smartphone penetration in the Asia-Pacific region are likely to drive the market for smart sensors.
North America is anticipated to grow at a CAGR of 8.90%, generating USD 6,674.03 million during the projected period. The sale of the fitted gate driver ICs is fueled by the growing disposable income of the North American populace. Pressure sensor market growth is boosted by developments in the energy and power sector that allow for the implementation of cutting-edge technology. The essential elements driving the growth of the North American smart sensors market are technological advancements, high per capita income, and early adoption of automation. Pressure sensors' demand in the consumer electronics, automotive, aerospace, defense, and medical sectors will primarily fuel the market's lowering rate of growth.
In Europe, pressure sensors are widely employed in consumer electronics, building automation, and the automobile industry. A high growth rate in the sensors market is projected in Europe during the forecast period due to the region's growing need for sensors in aerospace and military. Regional technological progress is a driving force behind the market's expansion. In order to carry out various tasks precisely, high-frequency RF-MEMS pressure sensors are incorporated into several consumer electronics devices, including smartphones, wearable tech, and tablets. Due to its widespread use in smartphones, the consumer electronics market is anticipated to grow.
It is anticipated that technological advancements in South America and the Middle East will support market expansion in LAMEA. The Middle East's rapid infrastructure, technology, and medical facility development also contribute to the LAMEA market's expansion. The region's pressure sensor industry is growing, but African economies are struggling. The global pressure sensor market share is comparatively less dominant in LAMEA. The expansion of the sensors market in LAMEA is attributed to technical advancements and infrastructure improvements.
List of key global pressure sensor market manufacturers profiled
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