Global Pressure Sensors Market to Grow Steadily at 6% CAGR from 2014 – 2020
Zion Market Research has published a new report titled “Pressure Sensors Market by Technology (Capacitive, Electromagnetic, Optical, Piezoresistive, Resonant Solid-State) for Automotive, Consumer Electronics, Industrial, Medical, Oil & Gas and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020.” According to the report, global demand for pressure sensors market was valued at USD 6.5 billion in 2014 is expected to reach USD 9.5 billion in 2020 and is anticipated to grow at a CAGR of around 6% between 2015 and 2020.
A pressure sensor measures pressure, typically of gases or liquids. Pressure sensors can be classified in terms of pressure ranges they measure, temperature ranges of operation, and most importantly the type of pressure they measure. Pressure sensors are variously named according to their purpose, but the same technology may be used under different names. Absolute pressure sensor, vacuum pressure sensor, gauge pressure sensor, differential pressure sensor and Sealed pressure sensor are major types of pressure measurements.
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Pressure sensors industry is mainly driven by strong demand from automotive industry. Pressures sensors are used in wide ranging applications in automotive industry including TPMS (Tire Pressure Monitoring System), EGR (Exhaust Gas Pressure), etc. Stringent government regulations regarding use of pressure sensors in various applications have been resulted into immense demand for pressure sensors from automotive industry. Electronics is another major driving factor for pressure sensors industry. Strong growth of automotive and consumer electronics industry in Asia Pacific is expected to keep driving demand for pressure sensors industry in the years to come.
Capacitive, electromagnetic, optical, piezoresistive, and resonant solid-state are the key technology segments of pressure sensors market. Piezoresistive sensors technology segment dominated the global pressure sensors market in 2014. Piezoresistive sensors accounted for around 30% share of global pressure sensors market in 2014. The automotive industry, biomedical applications, and household appliances are the key application markets for piezoresistive sensors. Capacitive sensors were the second largest technology segment of global pressure sensors market in 2014. Piezoresistive is also expected to exhibit fastest growth rate during the forecast period.
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Automotive, consumer electronics, industrial, medical, oil & gas and others are key application markets for pressure sensors. Automotive was the largest application market for pressure sensors and accounted for over 25% share in total revenue generated in 2014. Robust growth of automotive sector, especially in Asia Pacific region coupled with various regulations regarding use of pressure sensors in vehicles is expected to mobilize pressure sensors market at a rapid pace during near future. Consumer electronics and medical industry is also expected to exhibit strong demand for pressure sensors.
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Asia-Pacific dominated the pressure sensors market with highest contribution to the total revenue generated globally, in 2014. Asia Pacific accounted for over 30% share of the global pressure sensors market in 2014. Asia-pacific was followed by the North America and Europe. Pressure sensors market in Asia-Pacific region is also expected to witness rapid growth as compared to other regions. Over the past few years, Brazil has witnessed strong growth in automotive, electronics and medical industry. This is expected to boost demand for pressure sensors in Latin America.
Some of the key players in global pressure sensors market include ABB Ltd, Analog Devices Inc., Delphi Automotive PLC, Emerson Process Management, Freescale Semiconductor Ltd., Honeywell International Inc., Schneider Electric SE, Omron Corporation, Robert Bosch Gmbh, and STMicroelectronics N.V.
The report segments the global pressure sensors market as:
Pressure Sensors Market: Technology Segment Analysis
- Resonant Solid-State
Pressure Sensors Market: Application Segment Analysis
- Consumer Electronics
- Oil & Gas
Pressure Sensors Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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