Pressure Sensor Market Size & Share, by Type (Absolute, Gauge, Differential), End-user (Automotive, Aerospace & Defense, Healthcare, Oil & Gas) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 4990
  • Published Date: Aug 01, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Pressure Sensor Market size was valued at USD 12.14 Billion in 2023 and is likely to reach USD 43.95 Billion by the end of 2036, expanding at around 10.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of pressure sensor is assessed at USD 13.28 Billion. The market growth is mainly owing to the increasing adoption of consumer electronics. Smartphones, wearables, and other consumer electronic devices increasingly incorporate pressure sensors for applications such as altitude measurement, air pressure monitoring, and touch interfaces. As of 2021, it was estimated that around 3.8 billion people, or approximately half of the global population, owned a smartphone.

In addition to this, pressure sensors find applications in a wide range of sectors owing to the presence of their different types such as absolute pressure sensors, gauge pressure sensors, and differential pressure sensors. Absolute pressure sensors have been highly opted in research & scientific laboratories under which precise measurements are needed in order to determine altitude.


Pressure Sensor Market
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Global Pressure Sensor Sector: Growth Drivers and Challenges

Growth Drivers

  • Emerging Technologies: The rise of technologies such as the Internet of Things (IoT) and the adoption of pressure sensors in smart homes, smart cities, and other connected applications have acted as growth drivers for the pressure sensor market. The number of connected IoT devices has been increasing rapidly. By 2021, it was estimated that there were over 31 billion IoT devices deployed worldwide.
  • Growing Healthcare Applications: Pressure sensors play a vital role in healthcare, particularly in monitoring and controlling blood pressure, respiratory systems, and intravenous infusion systems.
  • Rising Industrial Automation: The increasing trend of industrial automation and the need for precise pressure monitoring and control in manufacturing processes have been key drivers of the pressure sensor market.

 

Challenges

  • Accuracy and Calibration: Pressure sensors need to provide accurate and reliable measurements for their intended applications. Ensuring precise calibration and accuracy can be challenging, especially in harsh or dynamic environments where factors such as temperature, humidity, and vibration can affect sensor performance.
  • High Cost: The cost of pressure sensors can be a barrier to adoption, especially for price-sensitive industries or applications that require large-scale sensor deployment.
  • Miniaturization and Integration

Pressure Sensor Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

10.4%

Base Year Market Size (2023)

USD 12.14 Billion

Forecast Year Market Size (2036)

USD 43.95 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

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Pressure Sensor Segmentation

End User (Automotive, Aerospace & Defense, Healthcare, Oil & Gas)

Out of the four types of end users, the automotive segment is estimated to gain the largest market share in the year 2036. Pressure sensors are employed in emission control systems to monitor parameters such as exhaust gas recirculation (EGR) pressure and evaporative emission control system (EVAP) pressure. The increasing focus on reducing vehicle emissions to meet environmental regulations has led to the integration of pressure sensors in emission control systems. Pressure sensors play a crucial role in engine management systems, monitoring parameters like intake manifold pressure, fuel pressure, and oil pressure.

Type (Gauge Pressure Sensors, Absolute Pressure Sensors, Differential Pressure Sensors)

Amongst these three segments, the absolute pressure sensors segment is expected to garner a significant share in the year 2036. The growth of the segment can be accredited to the automotive safety regulations.  Regulatory bodies across the world have implemented stringent safety regulations for vehicles. Absolute pressure sensors are essential components in safety systems such as airbag deployment and rollover protection. According to the National Highway Traffic Safety Administration (NHTSA), airbags have saved over 50,000 lives in the United States alone, highlighting the critical role of absolute pressure sensors in automotive safety.

Our in-depth analysis of the Pressure Sensor Market includes the following segments:

 

        End User

  • Automotive
  • Aerospace and Defense
  • Healthcare
  • Oil and Gas

        Type

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

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Pressure Sensor Industry - Regional Synopsis

APAC Market Forecast

The pressure sensor market in the Asia Pacific region is anticipated to hold the largest share by the end of 2036. The regional growth is owing to government initiatives and investments in the region. Governments in the Asia Pacific region have been actively promoting the adoption of advanced technologies, including IoT, automation, and smart manufacturing. Pressure sensor investments have been boosted by initiatives such as "Make in India" in India and "Made in China 2025" in China. These government-led initiatives have been driving the growth of the pressure sensor market in the region.

North American Market Statistics

The pressure sensor market in the North American region, is estimated to have the second largest share during the forecast period. The growth of the market in this region can be ascribed to the growing adoption of electric vehicles in the countries such as the U.S.A, and Canada. As per the reported data, more than 700,000 new electric vehicles were registered in the year 2022 in the United States.

Research Nester
Pressure Sensor Market Size- (1)
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Companies Dominating the Pressure Sensor Landscape

    Key Players

    • Bosch Sensortec
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Honeywell International Inc.
    • Infineon Technologies AG
    • NXP Semiconductors N.V.
    • Sensata Technologies, Inc.
    • STMicroelectronics N.V.
    • Texas Instruments Incorporated
    • Omron Corporation
    • TE Connectivity Ltd.
    • Robert Bosch GmbH

     


In the News

  • Honeywell and Hanwha Systems signed a memorandum of understanding (MOU) in South Korea to collaborate on unmanned aerial systems and urban air mobility (UAS/UAM) technology development.
  • Infineon announced the acquisition of Cypress Semiconductor Corporation, a leading provider of embedded solutions, including pressure sensors. The acquisition strengthens Infineon's position in the automotive, industrial, and consumer markets, allowing it to offer a comprehensive portfolio of sensors, microcontrollers, and connectivity solutions to its customers.

Author Credits:  Abhishek Verma


  • Report ID: 4990
  • Published Date: Aug 01, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of pressure sensor is assessed at USD 13.28 Billion.

The pressure sensor market size was valued at USD 12.14 Billion in 2023 and is likely to reach USD 43.95 Billion by the end of 2036, expanding at around 10.4% CAGR during the forecast period i.e., between 2024-2036. Increasing adoption of consumer electronics is the major factor driving the market growth.

Asia Pacific region is anticipated to hold largest share by 2036, owing to government initiatives and investments in the region.

Bosch Sensorte, Honeywell International Inc., NXP Semiconductors N.V, Sensata Technologies, Inc.
Pressure Sensor Market Report Scope
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