| Status : Published | Published On : Jan, 2024 | Report Code : VRSME9046 | Industry : Semiconductor & Electronics | Available Format :
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Page : 300 |
Global Pressure Sensor Market – Analysis and Forecast (2025-2030)
Industry Insight by Product Outlook (Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, Sealed Pressure Sensor, and Vacuum Pressure Sensor), by Type (Wired and Wireless), by Technology (Piezoresistive Pressure Sensor, Electromagnetic Pressure Sensor, Optical Pressure Sensor, Resonant Solid-State Pressure Sensor, Capacitive Pressure Sensor, and Others), by Output (Analog and Digital), by End-Use Industry (Automotive, Medical, Industrial, Utility, Aviation, Oil & Gas, Marine, Consumer Electronics, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
According to forecasts, the Global Pressure Sensor Market is projected to experience substantial growth over the next decade. It is expected to increase from USD 13.2 billion in 2023 to USD 24.52 billion by 2030, reflecting a notable compound annual growth rate (CAGR) of 9.2% during the forecast period from 2025 to 2030.
The pressure sensor is an electronic device that regulates, detect, monitor, and control pressure in liquids or gases and converts into an electric signal. Pressure sensors are anticipated to have significant growth owing to the innovation in artificial intelligence systems and wearable health care devices. There are many regulations imposed by the government to use pressure sensors in automobiles that have promoted the growth of the pressure sensors market globally. Due to the development of MEMS and NEMS technologies, the demand for pressure sensors has increased in consumer products, biomedical applications, wireless & optical communications, and aerospace.
The COVID-19 outburst has negatively affected the manufacturing activities particularly in the Asia-Pacific region where pressure sensors and semiconductor components are manufactured. The pandemic has disrupted the supply chain and the fear of being infected has led to the absence of a labor force causing delays in the manufacturing process. The rising demand for medical breathing appliances due to the COVID-19 pandemic is driving the demand for pressure sensors globally.
Market Segmentation
Insight by Product Outlook
Based on the product outlook, the global pressure sensor market is divided into absolute pressure sensor, gauge pressure sensor, differential pressure sensor, sealed pressure sensor, and vacuum pressure sensor. The absolute pressure sensor is anticipated to have the largest market share during the forecast period 2025-2030 owing to its use in measuring barometric pressure or as altimeters. They are used in different industrial verticals such as food & beverages, medical equipment manufacturing, and consumer products. The differential pressure sensor is anticipated to have a high CAGR over the forecast period as it is used in industrial environments to determine the flow of liquids and gases by utilizing the pressure difference. The differential sensors are used in treatment plants, subsea gas, and oil processing.
Insight by Type
Based on the type, the global pressure sensor is bifurcated into wired and wireless. The wired segment dominates the market in 2022 owing to the increasing demand in industrial, automotive, and other sectors as it has low radio frequency, small size, compatibility with manufacturers, low power consumption, and low installation cost, thus propelling the growth of the wired pressure sensors during the forecast period. The wireless pressure sensors are anticipated to witness the fastest growth owing to their self-contained, wellhead pressure, battery-powered monitoring, and casing pressure monitoring solutions.
Insight by Technology
Based on technology, the global pressure sensor market is segmented into piezoresistive pressure sensor, electromagnetic pressure sensor, optical pressure sensor, resonant solid-state pressure sensor, capacitive pressure sensor, and others. Among these segments, the piezoresistive pressure sensor is anticipated to dominate the market as it is widely adopted in aerospace, consumer electronics, and industrial applications due to its robustness, rapid response time, and high frequency. The sensor's low power consumption and sensitivity make it useful for real-time monitoring of the arterial pulse of the skin in medical applications.
Insight by Output
Based on the output, the global pressure sensor market is divided into analog and digital. The analog segment is anticipated to have a high CAGR owing to its simplicity, low cost, low power requirement, and high accuracy thus increases the sensor usage in industrial applications.
Insight by End-Use Industry
Based on the end-use industry, the global pressure sensor is categorized into automotive, medical, industrial, utility, aviation, oil & gas, marine, consumer electronics, and others. Among all these categories, the automotive segment dominates the pressure sensor market in 2020 due to the increasing demand for luxury vehicles, rising demand for ADAS, and modernization of vehicles. The pressure sensor is deployed in the automotive industry for engine optimization, emission control, and safety enhancement. The industrial segment is anticipated to grow significantly owing to the increasing government initiatives in supporting smart manufacturing in economies such as China, Germany, the US, and South Korea. Thus, the proliferation of IoT devices and programmable controllers in industrial facilities will boost the demand for the global pressure sensor market.
Global Pressure Sensor Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025 - 2030 |
|
Market Size in 2023 |
U.S.D. 13.2 Billion |
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Revenue Forecast in 2030 |
U.S.D. 24.52 Billion |
|
Growth Rate |
18% |
|
Segments Covered in the Report |
By Product Outlook, By Type, By Technology, By Output and By End-Use Industry |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
The technological advancement in pressure sensors is anticipated to propel substantial growth owing to its application in artificial intelligence systems and wearable health care devices. The market is highly competitive as it has a wider customer base and the existence of well-diversified international, local and regional players.
Growth Drivers
The global pressure sensor market is experiencing robust growth due to several key factors. Firstly, the automotive industry is increasingly relying on pressure sensors, driving their widespread adoption. Furthermore, advancements in micro-electromechanical systems (MEMS) and micromachine pressure sensors have significantly enhanced their performance and efficiency, contributing to market expansion.
Another important driver is the growing demand for pressure sensors in consumer electronics and wearables. As these sectors continue to innovate and introduce new devices, the need for accurate pressure monitoring becomes paramount, further fueling market growth.
The development of nanotechnology has also played a vital role in advancing pressure sensor technology. With the integration of nanotechnology, pressure sensors have become more precise, sensitive, and durable, expanding their applications in various industries, including information and communication technology (ICT).
Moreover, favorable government regulations and policies concerning the use of pressure sensors have further propelled market growth. Governments across the globe have recognized the importance of pressure sensors in ensuring safety and efficiency in different sectors, leading to increased adoption and market expansion.
In summary, the global pressure sensor market is witnessing significant growth due to the rise of pressure sensor usage in the automotive industry, advancements in MEMS-based and micromachine pressure sensors, increasing demand in consumer electronics and wearables, progress in nanotechnology, and favorable government regulations promoting the utilization of pressure sensors.
Challenges
Incorporating sensors provide additional functionality and makes the device more automated, although it will incur an extra cost, and thus avoided cost-effective applications. The sensors will shorten battery life for devices that use batteries as a power source because they depend on the device's battery for operation. Moreover, the high development cost in R&D activities to innovate and develop new products is also one of the challenges for small and medium-sized pressure sensor manufacturers.
Opportunities
The increasing trends towards IoT, development in nanoelectromechanical system (NEMS) technology, and surge in demand for pressure sensors in the development of smart homes and buildings, smart cities, and smart factories are anticipated to provide promising opportunities for the growth of the global pressure sensor market during the forecast period.
Geographic Overview
The Asia-Pacific dominates the global pressure sensor market in 2020 and is anticipated to maintain its dominance during the forecast period owing to the rising demand of consumer electronics and evolving automobile and industrial manufacturing companies. The introduction of favorable government regulations for sensors and the increasing demand for luxury and modernized vehicles are driving the pressure sensor market in the region.
North America is anticipated to be the fastest-growing region in the pressure sensor market during the forecast period owing to the high demand for pressure sensors in TPMS and EGR system applications in the automotive segment. Furthermore, the existence of the major players in the region will boost the growth of the pressure sensor market.
Competitive Insight
The pressure sensor market is highly fragmented and competitive as there are many domestic and international players. The strategies adopted by the industry players include product launches and developments, partnerships, collaboration, mergers & acquisitions, contracts, and agreements in order to expand their market share in the global pressure sensor market.
ABB has acquired Sevensense, expanding leadership in next-generation AI-enabled mobile robotics. This marks a significant step towards the vision of a workplace where AI-enabled robots assist people, addressing the customers' needs for greater flexibility and intelligence amidst critical skilled labor shortages. Each mobile robot, equipped with vision and AI, scans a unique part of the building; collectively these robots complement each other’s view to form a complete map, enabling them to work autonomously in a rapidly changing environment.
Honeywell And NXP Semiconductors join hands to help enhance building energy management. Enhanced machine learning and autonomous decision-making will help enable more energy efficient, convenient solutions. This shall optimize the way commercial buildings sense and securely control energy consumption. Buildings are increasingly relying on data and the ability to control operations via automation to make them more sustainable while operating more efficiently. NXP's latest machine learning solutions will help HHoneywell to deliver excellence in building automation for the customers. Honeywell announced the launch of a new series of high-performance, high-value, media isolation stainless steel pressure sensors (MIP) for the industrial and HVAC markets. The sensors are designed to withstand extreme temperatures and resist corrosion
Bosch Sensortec announced the BMP390, a barometric pressure sensor for altitude tracking in smartphones and wearable and hearable devices. It can support GPS applications for outdoor navigation and calorie expenditure estimation tasks. It is available for hearable manufacturers, wearable, and high-volume smartphones.
Some of the key players operating in the pressure sensor market: ABB, Honeywell International Inc., Bosch Sensortec GmbH, Emerson Electric Co., Amphenol Corporation, Sensata Technologies, Inc, BD|SENSORS GmbH, TE Connectivity, Siemens, and GfG Gas Detection UK Ltd.
The Pressure Sensor Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Product Outlook
- Absolute Pressure Sensor
- Gauge Pressure Sensor
- Differential Pressure Sensor
- Sealed Pressure Sensor
- Vacuum Pressure Sensor
- By Type
- Wired
- Wireless
- By Technology
- Piezoresistive Pressure Sensor
- Electromagnetic Pressure Sensor
- Optical Pressure Sensor
- Resonant Solid-State Pressure Sensor
- Capacitive Pressure Sensor
- Others
- By Output
- Analog
- Digital
- By End-Use Industry
- Automotive
- Medical
- Industrial
- Utility
- Aviation
- Oil & Gas
- Marine
- Consumer Electronics
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Pressure Sensor Market