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The global pressure sensor market exhibited moderate growth during 2015-2020. A pressure sensor is an instrument used to sense the pressure applied on gases or liquids and convert it into a small electrical output signal. The sensor relies on different technologies to provide accurate results, including integrated strain gauges to detect strain, and pressure-sensitive elements, cavities, and diaphragms for producing a variable capacitor. It finds extensive applications in steam systems that are employed in manufacturing facilities worldwide. It is also utilized as a level sensor in many industrial processes. Moreover, as it can be integrated with consumer electronics like alarm systems, water level appliances, and coffee machines, its demand is escalating around the world.
The rising cases of coronavirus disease (COVID-19) globally represent one of the largest factors bolstering the need for pressure sensors in medical breathing apparatus to monitor oxygen levels. Apart from this, the emerging automation trend in manufacturing processes is influencing the adoption of pressure sensors in robotics and industrial hydraulics. Moreover, inflating disposable incomes and rapid urbanization are catalyzing the demand for household electronics, such as refrigeration systems, washing machines, and televisions, which employ these sensors. This, along with the growing shift towards home automation, is contributing to the market growth. As these sensors can be utilized in electric vehicles (EVs) for monitoring the pressure of gearboxes and oils, the increasing sales of EVs worldwide are also driving the market. Furthermore, the leading players are developing next-generation products, which are anticipated to expand the usage of pressure sensors for off-road construction, the Internet of Things (IoT) systems, and agricultural applications. Looking forward, IMARC Group expects the global pressure sensor market to grow at a CAGR of around 6% during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the global pressure sensor market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product, type, technology and application.
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The competitive landscape of the industry has also been examined along with the profiles 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, NXP Semiconductors N.V, Rockwell Automation Inc., Sensata Technologies Inc., Siemens AG and Texas Instruments Incorporated.
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