What is the global market size of the Pressure Sensor Market?

Pressure Sensor Market size was valued at USD 17.81 billion in 2019 and is poised to grow from USD 18.59 billion in 2023 to USD 26.24 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

Who are the key vendors in the Global Pressure Sensor Market?

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Honeywell International Inc.', 'Robert Bosch GmbH', 'ABB Ltd.', 'Analog Devices, Inc.', 'Infineon Technologies AG', 'Emerson Electric Co.', 'STMicroelectronics N.V.', 'NXP Semiconductors N.V.', 'TE Connectivity Ltd.', 'Denso Corporation', 'Siemens AG', 'Schneider Electric SE', 'Continental AG', 'Omron Corporation', 'Texas Instruments Incorporated', 'First Sensor AG', 'Sensata Technologies, Inc.', 'Keller AG für Druckmesstechnik', 'WIKA Alexander Wiegand SE & Co. KG', 'Panasonic Corporation.'

What is the key driver of the Global Pressure Sensor Market?

An important driver of the market's expansion is the growing adoption of the Internet of Things (IoT). The creation of smart factories, towns, and households is being revolutionized by pressure sensors. Hence, it is projected that the rise in IoT-connected devices will spur market expansion. Moreover, among the key drivers propelling the pressure sensors market globally are the rise in industrial automation and the rising need for smaller consumer electronics, including wearables and IoT-connected gadgets.

What is the key market trend for the Global Pressure Sensor Market?

Increasing demand from automotive industry: The automotive industry is a major consumer of pressure sensors, as they are used in a variety of applications such as engine management systems, tire pressure monitoring systems, and brake systems.

Which region accounted for the largest share in the Global Pressure Sensor Market?

In 2022, North America & Asia-Pacific regions held significant share in the global Pressure Sensor market. In 2022, the Asia Pacific region held a commanding position in the pressure sensor market, contributing more than 38.0% of global sales. The mass manufacture of electronic components and increased R&D expenditures are both responsible for the segment's expansion. The demand for pressure sensors in this area is being driven by the rising demand for consumer electronics like tablets, wearable technology, and smartphones. A sizable portion of the regional pressure sensor market is contributed by China and India. China has a developed economy with several commercial options. The Danfoss Group, a leader in engineering and software technologies, has made significant investments in the pressure sensor industry and is predicted to hasten the expansion of the pressure sensors market in China.

Pressure Sensor Market Size, Share, Growth Analysis

Pressure Sensor Market Competitive Landscape

Pressure Sensor Market Top Player’s Company Profiles

Honeywell International Inc. (US)
ABB (Switzerland)
Emerson Electric Co. (US)
Amphenol Corporation (US)
TE Connectivity (Switzerland)
Sensata Technologies, Inc. (US)
TT Electronics (UK)
Rockwell Automation (US)
Schneider Electric (France)
Siemens (Germany)
STMicroelectronics (Switzerland)
Infineon Technologies AG (Germany)
NXP Semiconductors (Netherlands)
Yokogawa Electric Corporation (Japan)
Endress+Hauser Group Services AG (Switzerland)
Bosch Sensortec GmbH (Germany)
IFM Electronic GmbH (Germany)
Jumo GmbH & Co. KG (Germany)
Kita Sensor Tech. Co., Ltd. (South Korea)
Nidec Corporation (Japan)
Phoenix Sensors (US)
Micro Sensor Co., Ltd. (China)
Kistler Group (Switzerland)
Omega Engineering, Inc. (US)

Pressure Sensor Market

FAQs

Pressure Sensor Market size was valued at USD 10.98 Billion in 2023 and is poised to grow from USD 11.7 Billion in 2024 to USD 19.52 Billion by 2032, growing at a CAGR of 6.60% during the forecast period (2025-2032).

Pressure sensor companies should invest in the development of advanced sensors with wireless and smart capabilities to boost revenue generation potential. Targeting industrial automation and automotive industry is expected to offer lucrative returns for pressure sensor suppliers in the long run. Integration of smart technologies with pressure sensors is also expected to present new opportunities for market players going forward. 'Honeywell International Inc. (US) ', 'ABB (Switzerland) ', 'Emerson Electric Co. (US) ', 'Amphenol Corporation (US) ', 'TE Connectivity (Switzerland) ', 'Sensata Technologies, Inc. (US) ', 'TT Electronics (UK) ', 'Rockwell Automation (US) ', 'Schneider Electric (France) ', 'Siemens (Germany) ', 'STMicroelectronics (Switzerland) ', 'Infineon Technologies AG (Germany) ', 'NXP Semiconductors (Netherlands) ', 'Yokogawa Electric Corporation (Japan) ', 'Endress+Hauser Group Services AG (Switzerland) ', 'Bosch Sensortec GmbH (Germany) ', 'IFM Electronic GmbH (Germany) ', 'Jumo GmbH & Co. KG (Germany) ', 'Kita Sensor Tech. Co., Ltd. (South Korea) ', 'Nidec Corporation (Japan) ', 'Phoenix Sensors (US) ', 'Micro Sensor Co., Ltd. (China) ', 'Kistler Group (Switzerland) ', 'Omega Engineering, Inc. (US)'

Pressure sensors are projected to be highly popular in the automotive industry owing to their wide application scope in tire pressure monitoring, engine control, and advanced driver assistance systems (ADAS). Growing automotive production and rising emphasis on vehicle safety are expected to promote the sales of pressure sensors in the future.

Wireless and Smart Sensors: Pressure sensor companies should invest in the research and development of wireless and smart pressure sensors to maximize their business growth in the future. Ease of installation, low maintenance, and ability to transmit data in real-time are some key benefits of these novel sensors. Surging adoption of Industrial IoT (IIoT) is slated to make this a vital global pressure sensor market in the long run.

The Asia Pacific region is projected to emerge as a leading market for pressure sensor companies across the study period and beyond. Rapid industrialization, growing automotive manufacturing, and rising adoption of industrial automation are expected to be key factors promoting sales of pressure sensors in this region. China is expected to emerge as the most opportune market in this region owing to the presence of an expansive manufacturing industry in the country. India, Japan, and South Korea are other noteworthy markets for pressure sensor providers looking to boost their business scope in the Asia Pacific region. The imposition of stringent safety mandates is also supplementing the sales of pressure sensors in this region.

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What is the global market size of Pressure Sensor Market?

Who are the key vendors in the Pressure Sensor Market?

What is the key driver of Pressure Sensor Market?

What is the key market trend for Pressure Sensor Market?

Which region accounted for the largest share in Pressure Sensor Market?

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