Wilmington, Delaware, United States, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The pressure transducers market was worth US$ 4.0 Billion by 2021. The market is expected to increase at a CAGR of 3.30% between 2022 and 2031. Global pressure transducer sales are expected to reach US$ 5.6 billion by 2031. Pressure transducers are used extensively in the oil and gas industry for measuring well pressure, controlling pipeline pressure, and monitoring processes.
Many medical devices use pressure transducers to monitor blood pressure, breathe, and administer drugs. In recent years, sensors have become more compact and integrated, making them easier to integrate into systems that are smaller and more complex. Space-constrained or weight-sensitive areas could benefit from miniature pressure transducers.
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Wireless communication technologies may be used in the future to make pressure transducers part of the Internet of Things (IoT). The ability to monitor remotely and collect and analyze data could be enhanced.
Global Pressure Transducers Market: Key Players
Manufacturers of pressure transducers are developing new products to expand their product lines. To increase their global market share, companies merge and acquire, form partnerships, form joint ventures, and collaborate.
- ABB Ltd.
- Amphenol Corporation
- Anfield Sensors Inc.
- Siemens AG
- Honeywell International Inc.
- TE Connectivity
- Schneider Electric SE
- Wika Group
- Endress + Hauser
- Yokogawa Electric Corporation
- IFM electronic GmbH
- Kistler Instrument Corp.
- MICRO SENSOR CO. LTD.
- Omicron Sensing Pvt. Ltd.
- Setra Systems Inc.
Key Findings of the Market Report
- By 2031, the absolute pressure segment is projected to generate US$ 1.85 billion.
- By 2021, thin film held a leading share of 22.02% of the global market.
- A CAGR of 3.52% is forecast for North America during the forecast period.
- Several manufacturers with strong global presences operate in Europe, making it one of the most important regions on the global market.
- Transducers/transmitters, which measure and monitor pressure, are extensively used in modern control circuits in the process industry.
Global Pressure Transducers Market: Growth Drivers
- Transducers are used extensively in the automotive industry for applications such as fuel injection systems, tire pressure monitoring systems, and engine control systems. The demand for pressure transducers increased as the automotive industry developed and integrated technologies that are more advanced. As industrial automation increases across various industries, the pressure transducer market is expected to grow. Transducers, which measure pressure accurately and reliably, have become more important as more industries adopt automated processes.
- As sensor technologies and materials have advanced, high-performance pressure transducers have become increasingly sophisticated and efficient. In addition to improving efficiency, reliability, and functionality, these innovations attracted numerous industries. Pressure transducers were miniaturized with microelectromechanical systems (MEMS). Because of their smaller size, lighter weight, and cost-effectiveness, MEMS-based transducers are attractive in a wide range of applications.
- Process efficiency and safety continued to be a priority in chemical, pharmaceutical, and oil and gas industries. Pressure transducers are used in these industries to monitor and control various processes, thereby improving efficiency. The healthcare sector uses pressure transducers for a wide range of devices and equipment, including anesthesia machines, ventilators, and blood pressure monitors. Increasing healthcare industry demand contributed to pressure transducer demand.
- A pressure transducer can be used in flood warning systems, climate stations, and water quality monitoring applications. Pressure transducers have gained in popularity as environmental concerns have become more prevalent, driving the market for monitoring systems. Pressure transducers can be monitored and controlled remotely using Internet of Things (IoT) technology. Connectivity has helped industries improve the efficiency of their systems and their ability to analyze data.
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Global Pressure Transducers Market: Regional Landscape
- North America is expected to lead the market for pressure transducers. As industrial automation grows in North America, pressure transducers are becoming more popular. Devices such as these monitor and control manufacturing and other processes in the workplace.
- Sensor technologies are advancing, including pressure transducers, which contribute to a greater degree of precision, compactness, and reliability. Increasing sophistication and efficiency can lead to market growth.
- Pressure transducers can be used in environmental monitoring and control applications as environmental regulations and sustainability awareness increase. Pressure transducers are used widely in manufacturing and automotive industries for monitoring and controlling processes. Digital technologies, such as the Internet of Things (IoT), enables pressure transducers to monitor and collect data in real-time, facilitating predictive maintenance and improving efficiency.
Key Developments
- In October 2023, Masimo announced that its LiDCO board-in-cable (BIC) hemodynamic monitoring module had received CE mark approval. In addition to LiDCO BIC, the Irvine, California-based company offers Masimo Root Patient Monitoring and Connectivity Hub. LiDCO's PulseCO algorithm, coupled with the company's Root patient monitoring hubs, make LiDCO hemodynamic monitoring easy for clinicians.
Global Pressure Transducers Market: Segmentation
By Measurement Type
- Absolute Pressure
- Gauge Pressure
- Differential Pressure
- Multivariable Pressure
By Technology
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
By End-use Industry
- Automotive
- Aerospace
- Oil & Gas
- Food & Beverage
- Chemical
- Pharmaceuticals
- Heavy Engineering
- HVAC
- Water & Wastewater Management
- Others
By End-use Industry by Technology
- Automotive
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Aerospace
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Oil & Gas
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Food & Beverage
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Chemical
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Pharmaceuticals
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Heavy Engineering
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- HVAC
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE/ICP)
- Water & Wastewater Management
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
- Others
- Capacitive
- Piezo resistive
- Thin Film
- Ceramic Thick Film
- MEMS
- Oil-filled
- Others (Piezoelectric, IEPE / ICP)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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