The global pressure sensor market is anticipated to reach USD 21,547.3 million by 2025. Increasing investments in R&D activities by major market players due to the growing need for high-performance, cost-efficient, and reliable sensors are expected to propel the market growth rate. Also, the adoption of new technological developments in nanotechnology and micro-technology is one of the major factors of market expansion.
The optical technology segment is expected to gain demands on account of numerous advantages like high sensitivity and high resistance to chemical corrosion among others. In addition to this, the growing popularity and usage of optical fiber technology are one of the major market drivers. The demand for efficient sensors to monitor pressure levels of liquids and gases in the automotive industry and the growing usage of pressure sensors in consumer products, industrial automation, and air compressor monitoring are also providing ample opportunity to grow.
The increasing adoption of pressure sensors in consumer goods and wearable devices, such as watches, tablets, and smartphones, is substantially contributing to market expansion. The use of MEMS pressure sensors in industrial control applications and processes, HVAC applications, and level measurement is instrumental in driving market growth. Government regulations or laws to ensure passenger safety in automobiles are also expected to be a major growth driver. For instance, the U.S. government passed the TREAD Act to mandate the installation of the Tire Pressure Monitoring System (TPMS) in all types of automobiles so as to alert the driver about the under-inflation of automobiles within 20 minutes of its detection.
Pressure Sensor Market Report Highlights
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Based on the product, the absolute pressure sensor segment was the dominant segment and accounted for 44.8% of the global market share in 2017.
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Based on type, the wired pressure segment accounted for 86.4% of the global market share in 2017. However, higher adoption of consumer products, industrial automation, and air compressor monitoring is expected to drive the growth of the wireless pressure sensor segment in recent years.
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The demand for pressure sensors has increased over the years since they offer reliability in performance, real-time monitoring, and cost-effectiveness.
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The U.S. government is investing a considerable amount of monetary and non-monetary resources to encourage the adoption of sensors across various sectors. Pressure sensors are also an important component of smart city projects.
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The growing need for more tightly controlled processes with their associated quality control requirements is anticipated to drive the demand for MEMS devices in the manufacturing segment.
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Government regulations mandating the installation of pressure sensors in several applications, including automotive and industrial sectors, are also driving the demand worldwide.
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With growing technological advancements, pressure sensors are finding their way in the highly popular sector of wearable devices, which is expected to bode well for the segment.
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Pressure Sensor Market Segmentation
Grand View Research has segmented the market on the basis of product, type, technology, application, and region:
Product Outlook (Revenue, USD Million; 2014 – 2025)
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Absolute Pressure Sensors
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Differential Pressure Sensors
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Gauge Pressure Sensors
Type Outlook (Revenue, USD Million; 2014 – 2025)
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Wired
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Wireless
Technology Outlook (Revenue, USD Million; 2014 – 2025)
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Piezoresistive
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Electromagnetic
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Capacitive
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Resonant solid-state
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Optical
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Others
Application Outlook (Revenue, USD Million; 2014 – 2025)
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Automotive
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Oil & gas
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Consumer electronics
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Medical
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Industrial
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Others
Regional Outlook (Revenue, USD Million; 2014 – 2025)
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The U.K.
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Germany
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France
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Russia
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Nordic Region
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Asia Pacific
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India
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Australia
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China
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Japan
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Latin America
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Brazil
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Argentina
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MEA
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Saudi Arabia
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UAE
List of Key Players of Pressure Sensor Market
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AlphaSense
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City Technology Ltd.
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Dynament Ltd.
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Figaro Engineering Inc.
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Membrapor AG.
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Nemoto & Co., Ltd.
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Robert Bosch LLC.
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ABB Ltd.
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Siemens AG.
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GfG Europe Ltd
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