Pressure Sensor Market

Market Perspective

The global Pressure Sensor Market was valued at USD 16.09 billion in 2022 and is projected to reach USD 26.70 billion by 2030, growing at a CAGR of 6.53% from 2023 to 2030.

The pressure sensor market is growing rapidly owing to the increasing demand for automation and efficiency in production processes. Growing investments in production quality control and advances in pressure sensor technology, such as miniaturization and wireless connectivity, make them easier to integrate and use, which is proliferating market growth. The growing demand for pressure sensors in consumer electronics, the increased use of pressure sensors in the automotive industry, and favorable government regulations regulating the use of pressure sensors are some of the factors driving the growth of the pressure sensor market. However, the high cost of these devices is a major restraint on market progress. Environmental elements, including temperature, humidity, and vibration, can have an impact on these pressure sensors, leading to measurement inaccuracies or sensor failure. Improper installation or adjustment can cause measurement errors or sensor malfunction, which is hampering product adoption.

Analyst’s Review on Pressure Sensor Market

Technological advancements in micro-electromechanical systems (MEMS), coupled with the growing use of this technology in connected devices, are a key factor driving market growth. Stringent government regulations and increased investment in research & development are boosting market growth. In addition, technological advancements in micro and nanotechnology, the development of smart cities, and the advent of the Internet of Things (IoT) are creating lucrative growth opportunities in the pressure sensor market. Moreover, innovations in pressure sensor technology are expanding the scope of applications and improving the accuracy and reliability of pressure sensing in a range of industries and applications.

Market Definition

A pressure sensor is an electronic device that detects, measures and converts pressure into an electronic signal. Pressure sensors can be classified based on their measurement range, meter type, and installation method. Pressure sensors are essential components in many industrial and consumer applications, enabling accurate measurement and control of pressure. Pressure sensors are used in engine control systems to monitor fuel pressure and optimize fuel injection to improve performance and fuel economy. Pressure sensors are used in industrial equipment such as pumps, compressors, and boilers to monitor and control pressure for optimal performance and safety.

Market Dynamics

The increasing demand for pressure sensors is expanding as they are an essential component that reduces air pollution and fuel consumption. In addition, pressure sensors are used in the automotive industry for various passenger safety aspects in applications such as tire pressure monitoring systems (TPMS), advanced driver assistance systems (ADAS), and manifold absolute pressure sensors (MAPS). They also help with airbag deployment, throttle position, weight, and passenger identification. Electronic pressure sensors are used to measure the pressure of critical fluids such as engine oil, fuel, and coolant, which is then utilized to optimize fuel injection and improve engine performance and fuel efficiency. Pressure sensors are used in exhaust gas recirculation (EGR) systems and diesel particulate filters (DPF) to monitor pressure and flow rates, helping to reduce emissions. These sensors are used in tire pressure monitoring systems (TPMS) to detect and alert drivers to low tire pressure.

The proliferating use of pressure sensors has expanded the automation of electronic devices, and connecting sensors allows adding additional functions and making devices more automated. However, the high development costs associated with the development of new products are challenging, especially for small and medium-sized pressure sensor manufacturers. In addition, integrating these sensors into operating systems, especially in the automotive industry, is an expensive process. High costs generated in the overall production process of the sensor have made way for the usage of these sensors only in high-end cars. The integration of these sensors into viable systems, especially in the automotive industry, is an expensive process that is restricting market growth.

Segmentation Analysis

The global pressure sensor market is segmented based on type, technology, sensor type, application, and geography.

Based on type, the market is segmented into absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. The absolute pressure sensor segment dominated the market in 2022 as they are used in applications requiring industrial, high-performance vacuum pump monitoring. The growing demand for error-free engine functionality in manufacturing safe and secure vehicles is a significant factor driving segment growth. Moreover, the increasing demand for absolute pressure sensors for vacuum packaging medical products in a clean environment is further augmenting segment revenue.

Based on technology, the pressure sensor market is classified into piezoresistive, electromagnetic, capacitive, resonant solid state, optical, and others. The piezoresistive sensor is the fastest-growing segment, and it is suitable for a wide range of applications due to its reliability and simplicity. This technology is used to monitor absolute, relative, and differential pressures in high and low-pressure applications. The need for piezoresistive sensors continues to rise in many different industries, such as automotive, household appliances, and biomedical, supporting the market's growth trajectory.

Based on sensor type, the pressure sensor market is categorized into wired and wireless. The wired segment dominated the market in 2022 owing to the rising demand for wired pressure sensors in the industrial, automotive, and other sectors. The pressure sensor's output signal is transmitted via cabling to the pressure-measuring or pressure-controlling equipment to monitor and control pressure and output signals such as milliamps or voltage.

Based on application, the pressure sensor market is divided into automotive, oil & gas, consumer electronics, medical, and others. The automotive segment is dominating the industry owing to its proliferating use in electric cars to detect any object in the door's path. Moreover, manufacturers worldwide are developing and launching new pressure sensors and systems to measure the dynamic pressure system in moving vehicles. In addition, pressure sensors are also used in engine management systems to monitor intake, manifold pressure and optimize fuel delivery.

Geographical Analysis

Based on regional analysis, the global pressure sensor market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Asia Pacific region dominated the market in 2022 owing to the large-scale production of electronic components and proliferating demand for consumer electronics such as tablets, laptops, and smartphones. India and China constitute a large share of the regional market as automotive pressure sensor manufacturers are expanding their products to several car models and vehicles in developing countries. In this region, rapid growth in passenger and truck production would drive the growth of the automotive pressure sensor market. Increasing investments by several manufacturers in the growing use of pressure sensors in various industries such as automotive, pharmaceutical, petrochemical, and others propels market growth. In addition, increasing demand for devices using pressure sensors, such as washing machines, refrigerators, oxygen concentrators, and others, is expected to contribute to the overall growth of the market during the forecast period.

Competitive Landscape

The global pressure sensor market study report will provide valuable insight, with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies, such as partnerships, mergers and acquisitions, product innovations, and joint ventures, to expand their product portfolio and increase their respective market shares across different regions. The major players in the pressure sensor market are

• Baker Hughes Company
• Eaton
• Honeywell International Inc
• Infineon Technologies
• Melexis
• Renesas Electronics Corporation
• Sensata Technologies, Inc.
• Siemens
• Endress+Hauser Group Services AG
• NXP Semiconductors
• Analog Microelectronics GmbH
• DENSO CORPORATION
• ABB

Key Developments

• June 2023 (Launch): Druck launched Druck NG3000 pressure sensors, a new generation of pressure sensors for the aerospace industry, which provide customization, improve efficiency, and reduce cost.
• November 2022 (Launch): Melexis released a new series of PCB-free pressure sensor ICs that offer the highest lifetime accuracy. MLX90824 determines absolute pressure and then sends a digital output signal using the SENT protocol, while Brother's MLX90822 provides an analog output voltage.

The global Pressure Sensor Market is segmented as:

By Type

• Absolute Pressure Sensors
• Gauge Pressure Sensor
• Differential Pressure Sensors

By Technology

• Piezoresistive
• Electromagnetic
• Capacitive
• Resonant Solid State
• Optical
• Others

By Sensor Type

• Wired
• Wireless

By Application

• Automotive
• Oil & Gas
• Consumer Electronics
• Medical
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America