Pressure Sensors Market, 2014-2020: Global Industry Will Reach 9.5 billion

Pressure Sensors Market, 2014-2020: Global Industry Will Reach 9.5 billion

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. 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 An, lysis and Forecast, 2014 – 2020.”

Pressure sensors are used to measure the pressure of any liquids or gases. Pressure is an expression of the force required to stop a fluid from expanding and is usually stated in terms of force per unit area. A pressure sensor usually acts as a transducer; it generates a signal as a function of the pressure imposed. Pressure sensors are used for control and monitoring in thousands of everyday applications. Pressure sensors can also be used to indirectly measure other variables such as fluid/gas flow, speed, water level, and altitude. Pressure sensors can alternatively be called pressure transducers, pressure transmitters, pressure senders, pressure indicators, piezometers, and manometers, among other names.

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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.

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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.

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.