Pressure Sensor Global Market Report 2022

Pressure Sensor Global Market Report 2022

  • June 2022 •
  • 175 pages •
  • Report ID: 6282646 •
  • Format: PDF
Major players in the pressure sensor market are ABB Ltd., Emerson Electric Co., Honeywell International Inc., Infineon Technologies, NXP Semiconductors, Rockwell Automation Inc., Sensata Technologies, Siemens, STMicroelectronics, TE Connectivity, Amphenol, BD SENSORS GmbH, Bosch Sensortec GmbH, Eaton, General Electric, ifm electronic GmbH, Micro Sensor Co. Ltd, Quartzdyne Inc., Renesas Electronics, and TT Electronics.

The global pressure sensor market is expected to grow from $11.09 billion in 2021 to $12.13 billion in 2022 at a compound annual growth rate (CAGR) of 9.37%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $17.04 billion in 2026 at a CAGR of 8.87%.

The pressure sensor market consists of sales of pressure sensors by entities (organizations, sole traders, and partnerships) that are used to measure pressure of gases or liquids. A pressure sensor is an instrument that consists of a pressure-sensitive element to determine the actual pressure applied to the sensor with the help of different working principles and some components to convert this information into an output signal.

The main types of pressure sensors are absolute pressure sensor, gauge pressure sensor, differential pressure sensor, and others.The absolute pressure sensor uses absolute zero as its reference pressure, measured relative to a full vacuum.

Regardless of variations in ambient or process temperature, absolute pressure remains exact and accurate.An absolute pressure sensor is used when testing against a consistent baseline.

The various technology used in pressure sensor includes piezoresistive, capacitive, resonant solid-state, electromagnetic, optical, piezoelectric, and others.Pressure sensors are of wired and wireless type, and provide output in either analog or digital.

These sensors are applied in various industries such as automotive, industrial, consumer electronics, healthcare, oil and gas, aerospace and defense, and others.

North America was the largest region in the pressure sensor market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rising adoption of pressure sensors in industrial applications is expected to propel the growth of the pressure sensor market.In automation and industries, pressure sensors are used in systems to measure variables such as speed, fluid/gas flow, water level, and altitude.

For instance, in 2020, Sensata Technologies, a US-based manufacturer of pressure sensors, launched hermetic pressure transducers that are built based on self-propelled micro silicon strain gauge technology.These sensors are used for industrial processes and contain mid to high-pressure ranges.

They have high accuracy, burst strength, and shock and vibration performance, which makes them a reliable and robust solution for customers with challenging measurement requirements. Therefore, the rising adoption of pressure sensors in industrial applications is driving the growth of the pressure sensors market.

Technological advancements are a key trend gaining popularity in the pressure sensor market.For instance, in 2021, BD Sensors GmbH, a Germany-based manufacturer of pressure sensors and pressure measurement devices, launched a DS5 electronic pressure switch.

It has been designed for use in mobile working machines such as cranes, excavators, and harvesters and provides operational safety in mobile working machines. It is available in the measuring ranges from 16 to 600 bar and is characterized by having a switching accuracy of 1% FSO and a high overload.

In March 2021, Mettler-Toledo International Inc., a US-based manufacturer of analytical instruments, acquired PendoTECH for a deal amount of $205 million. Through this acquisition, Mettler-Toledo International Inc. is expected to increase its product portfolio and update its existing product line. PendoTECH is a US-based manufacturer of single-use pressure sensors, transmitters, and control systems.

The countries covered in the Pressure Sensor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.