According to the new market research report by IndustryARC titled “Pressure Sensors Market: By Application (Packaging, Automotive, Building & Construction, Paints & Coatings, Electronics & Electrical (Incl. Optical Media & Lighting), Medical & Laboratory, Consumer Goods, Others); By Geography – Forecast (2018-2023)”, the market is driven by advancements in pressure sensors that are compatible with wide range of liquids and gases, which broadens their application scope.
The global pressure sensor market is estimated to be $8.074 billion in 2017, and is projected to reach $15.937 billion by 2023, growing at a CAGR of 12% during 2018-2023. Among all the applications, the Pressure Sensing application is dominating with revenue of $2.842 billion in 2017, and is expected to witness $4.242 billion by 2023 at 7.0% CAGR.
Asia-pacific continues to lead the market share during 2018-2023.
Asia-pacific is one of the most potential and fastest growing markets for pressure sensors, mainly driven by increasing factory automation, continuing growth of investments in manufacturing sector and booming automobile manufacturing. APAC pressure sensors market was valued at $2.425 billion in 2017, and is forecast to reach $5.351 billion by 2023 at a CAGR of 14.1% CAGR. China is the dominant market for pressure sensors in APAC, and is projected to contribute 44% of the APAC market growth in the coming five years. APAC region is driven by the growing level of industrialization; the emerging economies of Asia like China and India have become largest investment destinations for electronics and semiconductors industry. Currently, the global manufacturing sector is mainly driven by developing and emerging economies, particularly Asian countries, which witnessed high growth rates. On the other hand, Americas is projected to register highest growth rate of 14.7% throughout the forecast period.
Selected / Sample Analysis done in the full Report:
The prices of sensors depend on various factors including the type of material used, technology, functionality of the sensor and its performance.
In the near future, the prices of sensors are expected to further decrease, considering the increasing scale of production and emergence of cost-effective production processes.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
Emergence of advanced pressure sensors that serve at high temperature, harsh and hazardous environments is the major factor that is driving significant growth for the pressure sensors market.
The market is set to register significant growth from automotive pressure sensors segment due to the growing demand for automobiles across the globe, especially in the APAC.
Boom in natural gas and green energy production spurs the demand for pressure sensors. This factor is projected to drive the market growth in the coming years.
Growing adoption of home automation in developed nations propels the use of smart pressure sensors. This trend is set to drive the demand for the pressure sensors market.
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Key Players of the Pressure Sensors Market:
Bosch Sensortec and Sensata emerged to be the dominant players in the pressure sensor market for automotive solutions, followed by Continental AG and Denso Corp. General Electric and Honeywell International emerged as the dominant players in the pressure sensor market for aerospace and defense solutions. ABB Ltd. emerged to be the dominant player in the pressure sensor market for industrial automation solutions. NXP Semiconductors and Infineon Technologies emerged to be the dominant players in the pressure sensor market for consumer electronics MEMS solutions. BOSCH SENSORTEC has introduced an environmental sensor, BME680, which integrates a gas sensor for air quality measurement, personalized weather stations, indoor navigation and other functions.
Pressure Sensors Market Report is Segmented as below.
Pressure Sensors Market By Applications:
Pressure Sensors Market By Product Type:
Gauge Pressure Sensor
Vacuum Pressure Sensor
Differential Pressure Sensor
Absolute Pressure Sensor
Sealed Pressure Sensor
Pressure Sensors Market By Technology Type:
Optical Pressure Sensing
Pressure Sensors Market By Verticals:
Food and Beverage
Paper and Pulp
Lighting and Signage
Oil & Gas
Pressure Sensors Market By Geography ( Covers 12+ Countries )
Pressure Sensors Market Entropy
Companies Citied / Interviewed
YOKOGAWA ELECTRIC CORPORATION
EMERSON ELECTRIC CO.
TE Connectivity Ltd.
SCHNEIDER ELECTRIC SE
What can you expect from the report?
The Pressure Sensors Market Report is Prepared with the Main Agenda to Cover the following 20 points:
Market Size by Product Categories
Top 10 End user Analysis
Mergers & Acquisition Analysis
Demand Analysis ( By Revenue & Volume )
Country level Analysis (10+)
Market Shares Analysis
Value Chain Analysis
Supply Chain Analysis
Current & Future Market Landscape Analysis
Revenue and Volume Analysis
Frequently Asked Questions:
Does IndustryARC publish country, or application based reports in Pressure Sensors Market?
Response: Yes, we do have separate reports and database as mentioned below:
North America Market for Pressure Sensors (2018-2023)
Europe Market for Pressure Sensors (2018-2023)
Asia-Pacific Market for Pressure Sensors (2018-2023)
Food and Beverage Market for Pressure Sensors (2018-2023)
Automotive Market for Pressure Sensors (2018-2023)
Electronics and Electrical Market for Pressure Sensors (2018-2023)
Factory Automation Market for Pressure Sensors (2018-2023)
Consumer Electronics Market for Pressure Sensors (2018-2023)
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