According to the latest report by IMARC Group, titled “Pressure Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the 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, pressure-sensitive elements, cavities, and diaphragms for producing a variable capacitor. It finds extensive applications in steam systems, utilized as a level sensor in several industrial processes and can be integrated with consumer electronics like alarms, water level appliances, coffee machines, etc.
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Market Trends:
The increasing cases of coronavirus-affected patients globally are currently bolstering the need for pressure sensors in medical breathing apparatus to examine oxygen levels. Besides this, the emerging trend of automation in various manufacturing processes is accelerating the adoption of pressure sensors in robotics and industrial hydraulics. Moreover, the escalating demand for household electronics and home automation, which employ these sensors, is further contributing to the market growth. Additionally, the growing utilization of these sensors in electric vehicles (EVs) to monitor the pressure of gearboxes and oils is also propelling the market growth. Furthermore, the development of next-generation products is expected to expand the usage of pressure sensors for off-road construction, the Internet of Things (IoT) systems, and agricultural applications in the coming years. Looking forward, IMARC Group expects the global pressure sensor market to grow at a CAGR of around 6% during the forecast period (2021-2026).
Market Analysis and Segmentation:
Breakup by Product:
- Absolute Pressure Sensors
- Differential Pressure Sensors
- Gauge Pressure Sensors
Breakup by Type:
- Wired
- Wireless
Breakup by Technology:
- Piezoresistive
- Electromagnetic
- Capacitive
- Resonant Solid-State
- Optical
- Others
Breakup by Application:
- Automotive
- Oil and Gas
- Electronics
- Medical
- Industrial
- Others
Competitive Landscape with key players:
- 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
- Texas Instruments Incorporated
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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