The Pressure Sensor by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pressure Sensor, The pressure sensor market size has grown strongly in recent years. It will grow from $13.7 billion in 2023 to $15.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to usage of pressure sensors in iot systems, an increase in the use of pressure sensors in the automotive industry and increasing military spending.
The pressure sensor market size is expected to see strong growth in the next few years. It will grow to $21.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to a rise in demand for pressure sensors in consumer electronics, growing trend towards industrial automation and iiot in developing nations and rising adoption of pressure sensors in industrial activities. Major trends in the forecast period include developments in pressure sensors, miniature front-flush pressure sensors, strategic partnerships, barometric pressure sensors, technological advancements and product innovation.
The rising adoption of pressure sensors in industrial applications is expected to propel the growth of the pressure sensor market. In automation and industry, pressure sensors are used in systems to measure variables such as speed, fluid/gas flow, water level, and altitude. For instance, according to Schott, a German-based company that manufactures glass and glass components, approximately 2 billion pressure sensors are produced every year, and this number is expected to increase by 7% annually. Therefore, the rising adoption of pressure sensors in industrial applications is driving the growth of the pressure sensor market.
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The pressure sensor market covered in this report is segmented –
1) By Product Type: Absolute Pressure Sensor, Gauge Pressure Sensor, Differential Pressure Sensor, Others
2) By Technology: Piezoresistive, Capacitive, Resonant Solid-State, Electromagnetic, Optical, Piezoelectric, Others
3) By Output: Analog, Digital
4) By Sensor Type: Wired, Wireless
5) By Application: Automotive, Industrial, Consumer Electronics, Healthcare, Oil And Gas, Aerospace And Defense, Other Applications
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.
The pressure sensor market report table of contents includes:
- Executive Summary
- Pressure Sensor Market Characteristics
- Pressure Sensor Market Trends And Strategies
- Pressure Sensor Market – Macro Economic Scenario
- Global Pressure Sensor Market Size and Growth
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- Global Pressure Sensor Market Competitive Benchmarking
- Global Pressure Sensor Market Competitive Dashboard
- Key Mergers And Acquisitions In Pressure Sensor Market
- Pressure Sensor Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Sensata Technologies Inc.
- Siemens AG
- Rockwell Automation Inc.,
- Amphenol Corporation
- Honeywell International Inc.
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