Global Pressure Sensors Market Size (2024 – 2030)

The Global Pressure Sensors Market valued at USD 18.51 Billion and is projected to reach a market size of USD 29.06 Billion by the end of 2030. Over the forecast period of 2023-2030, the market is projected to grow at a CAGR of 5.8%.

Devices that detect the pressure of gases or liquids are known as pressure sensors. They're widely employed in a variety of industries, including automotive, industrial, medical, and consumer electronics. The automotive industry is going through a technological transformation, with a focus on comfort and safety. This has paved the way for the creation of MEMS (Micro-Electromechanical Systems) pressure sensors. Furthermore, the growing number of sensor-rich applications in drones, driverless cars, and AR/VR equipment is driving up demand for these sensors. Military spending in various regions is also boosting the demand for technology such as drones and unmanned aerial vehicles (UAVs), which is fuelling the expansion of the MEMS pressure sensor market. Sensors, actuators, mechanical components, and other electronics can all be integrated into a single silicon or germanium substrate using MEMS technology. With rising demand for these sensors, the market is likely to expand more during the forecast period.

Furthermore, the growing demand for automation in the manufacturing industry is propelling the pressure sensors market forward. The increasing need for advanced features and sensors in the automotive, medical, industrial, consumer electronics, and aviation industries is also propelling market expansion. The rising demand for IoT-enabled sensors is also propelling the industry forward. Additionally, the growing adoption of smart homes and smart cities is likely to boost market growth during the forecast period. During the projected period, the market is likely to benefit from rising demand for high-performance pressure sensors. The growing implementation of advanced technologies such as MEMS and nanotechnology is projected to fuel market expansion. The expanding R&D activities for the development of improved pressure sensors are projected to give market growth prospects.

Global Pressure Sensors Market Drivers:

Increased safety, automation, energy efficiency, and smart cities are driving demand for pressure sensors.

Several factors are driving up demand for pressure sensors. The growing need for improved safety features in automobiles, such as tyre pressure monitoring systems, is one of the primary drivers of this industry. The increasing use of automation in numerous industries, such as automotive, healthcare, and industrial manufacturing, is also fuelling the expansion of the pressure sensor market. Another factor driving market expansion is rising demand for energy-efficient buildings, which has resulted in increased use of pressure sensors in HVAC systems. Furthermore, increased investment in smart cities and infrastructure projects is driving up demand for pressure sensors in the infrastructure and construction industries.

Pressure sensors are increasingly being employed in the automotive, healthcare, manufacturing, and infrastructure industries, due to technical advances such as MEMS sensors and growing acceptance of ADAS.

Technological advancements and the development of new types of pressure sensors, such as MEMS sensors, are also driving market expansion. Because of their tiny size, low power consumption, and great accuracy, these sensors are becoming increasingly popular. They are also quite cheap to manufacture and can be integrated into a wide variety of applications. With the increasing acceptance of advanced driver assistance systems (ADAS) and the expanding trend of vehicle automation, the automotive sector is one of the primary end-users of pressure sensors. Pressure sensors are employed in a variety of applications in the healthcare industry, including blood pressure monitoring, and in industrial manufacturing for process control and machine automation. Pressure sensors are also widely used in the building and infrastructure industries. These sensors are utilized in a variety of applications, including monitoring fluid and gas pressures in pipelines and structural integrity in buildings and bridges. Increased safety, automation, energy efficiency, and smart cities are driving the adoption of certain sensors.

Global Pressure Sensors Market Challenges:

The pressure sensor industry confronts a number of hurdles that could hinder its expansion. The high cost and complexity of manufacturing pressure sensors is one of the key hurdles, which might make it difficult for companies to enter the market. Furthermore, there are severe laws and requirements for pressure sensor performance and safety that new entrants may find challenging to meet. Some businesses are also hampered by a scarcity of experienced staff to set up and maintain pressure sensors. Another barrier to market expansion is heavy rivalry from alternative sensing technologies. Raw material price volatility is also a source of concern, as it can raise manufacturing costs and make it harder for producers to maintain profit margins. Cybersecurity concerns may also arise as a growing number of pressure sensors are linked to the internet and thus vulnerable to hackers.

Overall, these obstacles may make it difficult for businesses to enter and compete in the pressure sensor market. Despite these challenges, the market is predicted to rise due to technological developments and the introduction of new types of pressure sensors.

Global Pressure Sensors Market Opportunities:

The global market for Pressure Sensors offers various opportunities: 

• Adoption of IoT and Industry 4.0 technologies is likely to stimulate demand for pressure sensors in industrial and manufacturing applications.

• Increasing need for wearable devices and medical equipment will boost demand for tiny and highly precise pressure sensors.

• The rising popularity of electric vehicles is likely to stimulate demand for pressure sensors in the automotive industry.

• Increased infrastructure spending, such as smart cities and water management systems, will boost demand for pressure sensors in the construction and infrastructure industries.

• Advances in material science, such as the development of new types of pressure sensor materials, are predicted to improve sensor performance and lower costs, thereby opening up new business opportunities.

• Increased demand for monitoring and control across a variety of industrial sectors, including oil and gas, chemical, food and beverage, water and waste water management, and so on.

COVID-19 Impact on Global Pressure Sensors Market:

The global pressure sensor market has been significantly impacted by the COVID-19 pandemic. Many sectors have suffered a reduction in demand for their products as a result of supply chain lockdowns and disruptions caused by the pandemic, affecting the pressure sensors market. The automotive industry, which is a key end user of pressure sensors, has been severely impacted by the pandemic, as car manufacturing and sales have been halted. The pandemic has also slowed down several construction and infrastructure projects, affecting demand for pressure sensors in these industries.

Overall, the COVID-19 pandemic has had a mixed influence on the worldwide pressure sensor industry, with some industries witnessing a fall in demand while others experiencing an increase. As the pandemic diminished and economies began to recover, the market is projected to recover. As the world approaches the post-pandemic period, the pressure sensor sector will need to adjust to the new normal and seek new growth prospects.

Global Pressure Sensors Market Recent Developments:

• In Jan 2021, BD Sensors GMBH introduced the 339P pressure transmitter, a precision device developed for dependable pressure monitoring of dosing and bonding systems. It ensures the accuracy of the application procedure and avoids costly errors in this application. Because of its durable architecture and modern electronics, the device has a high level of reliability and precision.

• In December 2022, ABB finished the sale of its 19.9 % stake in the Hitachi Energy joint venture to Hitachi Ltd. This venture was established from ABB's Power Grids business in 2020, leaving Hitachi with an 80.1 % share.

PRESSURE SENSORS MARKET REPORT COVERAGE:

Global Pressure Sensors Market Segmentation:

Global Pressure Sensors Market Segmentation: By Sensor Type

• Piezo resistive Pressure Sensors

• Strain Gauge Pressure Sensors

• Capacitive Pressure Sensors

• Optical Pressure Sensors

• Others

The above segmentation is a way of categorizing the many types of pressure sensors on the market. Pressure sensors are instruments that detect the pressure of a liquid or gas. The pressure sensor market is divided into distinct types of sensors based on their operation. The piezo resistive effect, which is the change in electrical resistance of a material under mechanical stress, is the basis for piezo resistive pressure sensors. These sensors are highly accurate and have a broad measuring range, making them suited for a wide range of applications including industrial, automotive, and medical.

Furthermore, capacitive pressure sensors monitor pressure by measuring the change in the capacitance of a substance under mechanical stress. Because these sensors are extremely sensitive, they are ideal for precision applications such as semiconductor manufacturing and medical equipment.

Global Pressure Sensors Market Segmentation: By Type

• Wired

• Wireless

The pressure sensor market is divided into wired and wireless. A physical cable or wire connects a wired pressure sensor to a device or system. These sensors are generally regarded as more trustworthy because there is no danger of signal interruption due to a lack of battery power or interference. They are frequently utilised in industrial and heavy-duty applications that require a high level of accuracy and dependability.

Global Pressure Sensors Market Segmentation: By End-User

• Medical

• Automotive

• Industrial

• Aerospace

• Others

Pressure sensors are widely used in a variety of industries, each with its own set of uses. Pressure sensors are used in the medical industry for patient monitoring, medicine delivery, and imaging. Pressure sensors are used in the automotive industry to detect Tyre pressure, fuel pressure, engine oil pressure, and other parameters. Pressure sensors are used in the industrial sector for process control, water/wastewater management, and machine automation. Pressure sensors are used in the aerospace sector for altitude detection, fuel system monitoring, and air speed measurement. Pressure sensors are also used in other areas such as consumer electronics, agriculture, and military and defence.

Global Pressure Sensors Market Segmentation: By Region

• North America

• Europe

• Asia Pacific

• Middle East

• Latin America

The Pressure Sensors Market segmentation is based on geographical location. Due to expanding demand from industries such as automotive, consumer electronics, and industrial, Asia Pacific is the fastest growing market for Pressure Sensors. The presence of major manufacturers Such as India, Japan and South Korea. A high acceptance rate of new technologies, and strong demand from end-user sectors such as automotive and medical are driving the pressure sensors market in North America. Furthermore, the presence of a large consumer base, the rapid expansion of end-user industries such as automotive and industrial, and the presence of major manufacturers in the region drive the pressure sensors market in Latin America.

Overall, the global market for pressure sensors is expanding, driven by the increasing adoption of advanced technologies and the expansion of end-user industries. 

Global Pressure Sensors Market Key Players:

1. AlphaSense

2. Dynament Ltd.

3. Figaro Engineering Inc.

4. City Technology Ltd.

5. Nemoto & Co. Ltd.

6. Robert Bosch LLC

7. Siemens AG

8. ABB Ltd.

9. GFG Europe Ltd.

10. BD Sensors GMBH