Dublin, June 03, 2024 (GLOBE NEWSWIRE) -- The "Global Pressure Sensor Market by Connectivity (Wired, Wireless), Sensing Method (Piezoresistive, Capacitive, Resonant Solid-State, Electromagnetic, Optical), Sensor Type (Absolute, Gauge, Differential, Sealed, Vacuum), Pressure Range - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global pressure sensor market is expected to be valued at USD 12.4 billion in 2024 and is projected to reach USD 17 billion by 2029; it is expected to grow at a CAGR of 6.5% from 2024 to 2029. Pressure sensors play a crucial role in automotive applications including engine management systems, tire pressure monitoring, brake systems, and emission control. These sensors enable real-time monitoring and control of critical parameters, contributing to improved fuel economy, reduced emissions, and enhanced safety features in modern vehicles. With automakers increasingly integrating sensors into vehicles for various functionalities, the automotive industry continues to drive innovation and growth in the global pressure sensor market.
Capacitive sensing method to hold the second largest share in the pressure sensor market
Capacitive pressure sensors hold the second largest share in the pressure sensor market due to their high sensitivity, accuracy, and versatility across various applications. Capacitive sensing technology utilizes changes in capacitance to measure pressure, offering excellent performance characteristics such as low hysteresis, fast response times, and resistance to electromagnetic interference.
These sensors are capable of measuring both absolute and differential pressures with high precision, making them suitable for diverse industries including automotive, aerospace, healthcare, and consumer electronics. Capacitive pressure sensors are also known for their ability to operate in harsh environments, thanks to their solid-state design and robust construction. As industries continue to demand more sophisticated pressure sensing solutions, capacitive sensors are expected to maintain a strong presence and drive significant growth in the global pressure sensor market.
Wireless sensor connectivity segment to exhibit highest CAGR in pressure sensor market.
Wireless pressure sensors are anticipated to exhibit the CAGR in the pressure sensor market due to their increasing adoption across various industries. Wireless sensors offer significant advantages over traditional wired counterparts, including greater flexibility, scalability, and ease of installation. With the proliferation of Internet of Things (IoT) technologies, there is a growing demand for wireless pressure sensors to enable remote monitoring and data transmission in real-time.
These sensors eliminate the need for cumbersome wiring, making them ideal for applications where mobility and accessibility are essential, such as in industrial automation, smart buildings, and healthcare monitoring systems. Additionally, advancements in wireless communication protocols and battery technology have improved the reliability and longevity of wireless sensors, further driving their adoption. As industries seek more efficient and cost-effective solutions for pressure sensing, wireless sensors are poised to experience rapid growth and capture a significant market share in the coming years.
Up to 100 psi pressure range segment to dominate the pressure sensor market
The pressure sensor market sees the largest share attributed to pressure sensors with a range of up to 100 psi, primarily due to their versatility and widespread applicability across various industries. Sensors in this pressure range are commonly used in applications where moderate pressure measurements are sufficient, such as in HVAC systems, pneumatic controls, consumer electronics, and small-scale industrial processes. These sensors are cost-effective to manufacture and offer sufficient accuracy and sensitivity for many typical applications. Additionally, the compact size and lower power consumption of sensors in the up to 100 psi range make them ideal for integration into portable devices and IoT applications. As industries increasingly adopt pressure sensors for monitoring and control purposes, the demand for sensors in this pressure range remains high, solidifying their position as the largest segment in the pressure sensor market.
Consumer devices end use segment to hold the second largest share in the pressure sensor market
Consumer devices hold the second largest share in the pressure sensor market primarily due to the pervasive integration of sensors in a wide range of consumer electronics and gadgets. Pressure sensors play a critical role in enhancing the functionality and user experience of devices such as smartphones, wearables, fitness trackers, and smart home appliances.
These sensors enable features like touch sensitivity, altitude measurement, and air pressure monitoring in smartphones and smartwatches. In fitness devices, pressure sensors are utilized for tracking elevation changes and optimizing workout performance. Additionally, pressure sensors are increasingly integrated into household appliances like washing machines and air conditioners to improve efficiency and optimize performance. The growing trend towards IoT-enabled consumer devices and the demand for more sophisticated functionalities drive the adoption of pressure sensors in consumer electronics, positioning this segment as a significant contributor to the pressure sensor market.
Asia Pacific region holds the largest share in pressure sensor market.
Asia Pacific is experiencing rapid industrialization and economic development, particularly in countries such as China, India, Japan, and South Korea, leading to increased demand for pressure sensors across various industries including automotive, manufacturing, healthcare, and consumer electronics. Furthermore, the presence of major electronics manufacturers and suppliers in countries like China and Japan contributes to the growth of the pressure sensor market in the region. The government initiatives promoting industrial automation, smart manufacturing, and infrastructure development further fuel the demand for pressure sensors in sectors like utilities, transportation, and construction. With these combined factors fostering technological advancements and market expansion, Asia Pacific emerges as a dominant force in the global pressure sensor market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 264 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $12.4 Billion |
| Forecasted Market Value (USD) by 2029 | $17 Billion |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Piezoresistive Segment to Hold Largest Market Share in 2029
- Wired Sensors Segment to Hold Larger Market Share in 2029
- Automotive Segment to Hold Largest Market Share in 2029
- Asia-Pacific Held Largest Share of Pressure Sensor Market in 2023
Premium Insights
- Attractive Opportunities for Players in Pressure Sensor Market - Increasing Demand for Electric Vehicles (EVs) and Autonomous Driving Systems to Create Lucrative Opportunities for Market Players
- Pressure Sensor Market in Asia-Pacific, by End Use and Country - Automotive Segment and China to Hold Largest Shares of Asia-Pacific Pressure Sensor Market in 2024
- Pressure Sensor Market, by End Use - Automotive Segment to Account for Largest Market Share in 2029
- Pressure Sensor Market, by Country - India to Record Highest CAGR in Pressure Sensor Market During Forecast Period
Key Market Dynamics
Drivers
- Booming Automotive Sector
- Development of Technologically Advanced and Affordable Pressure Sensors
- Increased Trend of Industry 4.0
- Rising Demand for Pressure Sensors in Medical Device Industry
Restraints
- Need for Pressure Sensor Manufacturers to Adhere to Stringent Standards, Regulations, and Certifications
Opportunities
- Rising Demand for Advanced Pressure Sensors in Consumer Electronics Industry
- Adoption of Pressure Sensors in IoT-Enabled Predictive Maintenance Programs
- Rapid Advancements in AI and ML Technologies
Challenges
- Shrinking Profit Margins of Manufacturers with Declining Prices, Increasing Competition, and Commoditization of Technology
Technology Analysis
- Key Technologies
- MEMS Technology
- Piezoresistive Technology
- Complementary Technologies
- Wireless Communication Protocols
- Advanced Material Innovations
- Adjacent Technologies
- Internet of Things (IoT) Integration
- Sensor Fusion
Case Study Analysis
- Althen Sensors & Controls' Miniature Pressure Sensors Enhanced Dutch Delft Hyperloop Project
- Surrey Sensors Ltd (SSL) Deployed Honeywell's Pressure Sensors to Elevate Precision in UAV and Aerospace Testing
- Major Agricultural Machinery Company Started Using Wika's Level Sensors
- Pressure Transducer Monitoring Enabled Empteezy to Ensure Consistent Water Flow in Emergency Tank Showers
- Medical Device Company Adopted Pressure Sensor for Critical Care Blood Pressure Monitoring
Companies Featured
- Honeywell International
- ABB
- Emerson Electric Co.
- Amphenol
- TE Connectivity
- Sensata Technologies
- TT Electronics
- Rockwell Automation
- Schneider Electric
- Siemens
- STMicroelectronics
- Infineon Technologies
- NXP Semiconductors
- Yokogawa Electric
- Endress+Hauser Group Services
- Bosch Sensortec
- IFM electronic
- JUMO
- Kita Sensor Tech. Co.
- Nidec Corporation
- Phoenix Sensors
- Micro Sensor Co. Ltd.
- BD|SENSORS
- Kistler Group
- OMEGA Engineering
For more information about this report visit https://www.researchandmarkets.com/r/jws4i4
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
