New York, United States , Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Global Pressure Sensor Market Size is to Grow from USD 19.3 Billion in 2023 to USD 32.7 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.41% during the projected period.
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In many different sectors, a pressure sensor is a tool or piece of equipment used to monitor the pressure of gases or liquids. A pressure sensor is composed of parts that convert the information into output signals and a pressure-sensitive device that measures the force applied to the sensor. In factories, automobiles to sense tire pressure or engine combustion pressure, and aircraft to gauge altitude and atmospheric conditions, pressure sensors are widely used. Their applications are always growing. It keeps an eye on gauge, differential, absolute, and vacuum pressures, among other pressures. Pressure sensors are widely used in a variety of industries, such as the automotive, industrial, aviation, biomedical, air conditioning, and hydraulic measurements. Numerous everyday applications, such as water levels, altitude, gas and fluid flow, and indirect speed measures, include pressure sensors. Because of their many different uses, they differ greatly in terms of design, technology, stability, performance, and cost. The non-invasive sensing capabilities of pressure sensors have increased their applications, particularly in medicine. These applications include, among others, air pressure monitoring for breathing apparatuses and blood pressure monitoring and corrections. The output varies with temperature because of adhesion problems with the sensors at high temperatures and pressures. The expense of pressure sensors may prevent their broad adoption, especially in industries or applications where a large-scale sensor deployment is necessary.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on The "Global Pressure Sensor Market Size, Share, and COVID-19 Impact Analysis, By Sensor Type (Wired, and Wireless), By Technology (Piezoresistive, Capacitive, and Optical), By Product (Absolute, Gauge, Automotive, and Differential), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The wireless segment is expected to hold the largest share of the global pressure sensor market during the forecast period.
The global pressure sensor market is divided into segments based on sensor type: wired, and wireless. Among these, the wireless segment is expected to hold the largest share of the pressure sensor market during the forecast period. The high degree of improvement in wireless sensors, along with the availability of Wi-Fi and Bluetooth connection, eliminates the need for costly connecting wires. One advantage of them is that the user may observe and operate them remotely using cell phones and specialized software.
The piezoresistive segment is expected to grow at fastest pace in the global Pressure Sensor market during the forecast period.
The global pressure sensor market is classified into piezoresistive, capacitive, and optical. The piezoresistive segment is expected to grow at fastest pace in the pressure sensor market during the forecast period. Piezoresistive pressure sensors are being used in cars and other passenger vehicles more often in order to reduce emissions and increase safety, which is one of the key drivers driving the segment's rise.
The automotive segment is expected to grow at greatest pace in the global Pressure Sensor market during the forecast period.
Based on the product, the global pressure sensor market is divided into absolute, gauge, automotive, and differential. The automotive segment is expected to grow at greatest pace in the pressure sensor market during the forecast period. Pressure sensors are used in electric cars to keep fingers out of the door jams. Numerous pressure sensor companies throughout the globe are developing and releasing innovative pressure sensors and systems in order to identify the dynamic pressure system in moving automobiles.
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Asia Pacific is anticipated to hold the largest share of the global pressure sensor market over the predicted timeframe.
Asia Pacific is projected to hold the largest share of the global pressure sensor market over the predicted years. The region's growth may be attributed to both the increasing R&D spending and the substantial manufacture of electronic components. The growing requirement for wearables, tablets, and smartphones among other consumer devices is driving the need for pressure sensors in this field.
North America is expected to grow at the fastest pace in the global pressure sensor market during the forecast period. The North American regional market is expected to grow due to the growing demand for pressure sensors in TPMS and EGR system applications in the automotive sector. The presence of major players in the industry is one of the primary factors driving the market's expansion.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Pressure Sensor Market include Figaro Engineering Inc., ABB Ltd., AlphaSense, Membrapor, Siemens, BD Sensors GMBH, GfG Europe Ltd., City Technology Ltd., Dynament Ltd., Nemoto Kyorindo co., Ltd., Robert Bosch GmbH, and others.
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Recent Developments
- In January 2021, the 339P pressure transmitter, a precise tool designed for accurate pressure monitoring of dosing and bonding systems, was unveiled by BD Sensors GMBH. It guarantees the application process's correctness and keeps expensive mistakes out of this application. The gadget is highly reliable and precise due to its sophisticated electronics and sturdy build.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Pressure Sensor Market based on the below-mentioned segments:
Global Pressure Sensor Market, By Sensor Type
- Wired
- Wireless
Global Pressure Sensor Market, By Technology
- Piezoresistive
- Capacitive
- Optical
Global Pressure Sensor Market, By Product
- Absolute
- Gauge
- Automotive
- Differential
Global Pressure Sensor Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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