Pressure Sensor Market Study including Growth Factors, Types and Application by regions from 2020 to 2025
26th Nov 2020 - The global Pressure Sensor Market is expected to reach USD 11.91 billion by 2025. A pressure sensor can be defined as a device that is used to sense pressure changes and translate it into an electrical signal, that can be moderated depending on the strength of pressure. Factors, such as advancements in MEMS & NEMS technologies for various applications, increase in use of pressure sensors in automotive industry. In addition, favorable regulations for use of pressure sensors and increase in demand for pressure sensors in consumer electronics are likely to drive the pressure sensor industry in the forthcoming period.
On the other hand,
intense pricing pressure is anticipated to hinder pressure sensor market growth
in the future. However, the increasing demand for pressure sensors in numerous
applications is likely to create lucrative opportunities for the market. Pressure
sensor industry is anticipated to expand at a significant CAGR in the upcoming
period as the scope, product types, and its applications are increasing across
the globe.
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Pressure sensors market
is segmented by type, product type, application and geography. The market is
segmented by type as Resonant Solid State, Piezoresistive, Capacitive,
Electromagnetic, Optical and Others. The “Piezoresistive” segment accounted for
a prominent share in the market. It is likely to witness substantial growth in
the years to come. The key factors that could be attributed to the growth of
market include increasing use of MEMS sensors in wearable devices and consumer
electronics is boosting market growth.
Based on product type,
the pressure sensors industry is segmented by Gauge Pressure Sensors, Absolute
Pressure Sensors, and Differential Pressure Sensors. The “Absolute Pressure
Sensors” segment accounted for a prominent share in the market. It is likely to
witness substantial growth in the years to come. The key factor that could be
attributed to the growth of market includes increasing demand in industrial
applications for the measurement of vacuum levels.
The key applications
are segmented in the pressure sensor market include Oil & Gas, Consumer
Electronics, Industrial Applications, Automotive, Medical, and Others. The
“Consumer Electronics” segment accounted for a prominent share in the market.
It is likely to witness substantial growth in the years to come. The key
factors that could be attributed to the growth of market include rising use of
MEMS devices in wearable devices and consumer electronics is boosting the
segment growth. The Consumer electronics segment is followed by the Automotive
sector in the forthcoming period.
Key players operating in the pressure sensor industry include ABB Ltd, Emerson Electric Co., Analog Devices, Inc., Robert Bosch Gmbh, Delphi Automotive Plc, Denso Corporation, Honeywell International Inc., NXP Semiconductors, N.V., Damco Corporation, and Schneider Electric. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Russia
• Nordic Region
• Asia Pacific
• India
• Australia
•
China
• Japan
• Latin America
• Brazil
• Argentina
• MEA
• Saudi Arabia
• UAE
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