Pressure Sensor Market size is projected to reach USD 30 billion by the end of 2035, observing nearly 10% CAGR from 2023 to 2035. In the year 2022, the industry size of pressure sensor was USD 11 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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~10% |
|
Base Year Market Size (2022) |
~ USD 11 Billion |
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Forecast Year Market Size (2035) |
~ USD 30 Billion |
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Regional Scope |
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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 2035. 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 2035. 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:
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End User |
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Type |
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APAC Market Forecast
The pressure sensor market in the Asia Pacific region is anticipated to hold the largest share by the end of 2035. 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.
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Key Players
Author Credits: Abhishek Verma, Hetal Singh
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