Global Pressure Sensor Market to Grow at 10.2% During 2023-2028, Catalyzed by Increasing Cases of COVID-19

November 24, 2021 | Electronics and Semiconductors

As per the latest report by IMARC Group, titled “Pressure Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global pressure sensor market is expected to grow at a CAGR of 10.2% during 2023-2028. A pressure sensor refers to a device used to measure the pressure applied on liquids or gases and translates it into an electrical output signal. It relies on different technologies to provide accurate results, such as integrated strain gauges for detecting strain and pressure-sensitive elements, pressure cavities, and diaphragms. As a result, pressure sensors are extensively utilized in steam systems employed in manufacturing facilities and as a level sensor in various industrial processes.

Global Pressure Sensor Market Trends:

A significant increase in the cases of coronavirus disease (COVID-19) represents the primary factor driving the market growth. The sudden outbreak of the COVID-19 pandemic has increased the need for pressure sensors in medical breathing apparatus to monitor oxygen levels in patients. Additionally, the emerging trend of automation in manufacturing processes is accelerating the product adoption in robotics and industrial hydraulics. Besides this, pressure sensors are widely used in household electronics, such as refrigerators, televisions and washing machines. The escalating demand for these household appliances and the growing inclination toward home automation are further escalating the demand for pressure sensors. Furthermore, the rising sales of electric vehicles (EVs) that utilize pressure sensors to monitor the pressure of oils and gearboxes is another major growth-inducing factor. In addition, several key players are focusing on developing next-gen product variants to expand the usage of pressure sensors in the Internet of Things (IoT) systems, off-road constructions and agricultural applications.

Market Summary:

Based on the product, the market has been classified into absolute, differential and gauge pressure sensors.
On the basis of the type, the market has been bifurcated into wired and wireless.
Based on technology, the market has been divided into piezoresistive, electromagnetic, capacitive, resonant solid-state, optical and others.
The market has been segregated based on the application into automotive, oil and gas, electronics, medical, industrial and others.
Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has also been examined, with some of the key players being ABB Ltd., All Sensors Corporation (Amphenol), Bosch Sensortec GmbH (Robert Bosch GmbH), Endress+Hauser Group Services AG, Honeywell International Inc, Infineon Technologies AG, Kistler Group (Kistler Holding AG), NXP Semiconductors N.V., Rockwell Automation, Inc., Sensata Technologies Inc., Siemens AG, and Texas Instruments Incorporated.

Report Scope:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	US$ Billion
Segment Coverage	Product, Type, Technology, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	ABB Ltd, All Sensors Corporation (Amphenol), Bosch Sensortec GmbH (Robert Bosch GmbH), Endress+Hauser Group Services AG, Honeywell International Inc., Infineon Technologies AG, Kistler Group (Kistler Holding AG), NXP Semiconductors N.V, Rockwell Automation Inc., Sensata Technologies Inc., Siemens AG and Texas Instruments Incorporated
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Global Pressure Sensor Market to Grow at 10.2% During 2023-2028, Catalyzed by Increasing Cases of COVID-19

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