Dublin – (work wireGlobal Pressure Sensors Market with COVID-19 Impact Analysis by Sensor Type (Wired, Wireless), Technology (Piezoresistive, Capacitive, Optical), Product (Absolute, Gauge, Differential), End Use, Vertical, and Geography – Report Added Predictions for 2026 to ResearchAndMarkets.com an offer.
The global pressure sensor market is expected to grow from US$ 14.8 billion in 2021 and is expected to reach US$ 21.9 billion by 2026; It is expected to grow at a compound annual growth rate of 8.2% during the forecast period.
The demand for pressure sensors is constantly increasing due to their increasing applications in the Internet of Things environment. Pressure Sensors market growth can also be attributed to the growing global demand for miniature devices, technological advances in electronic devices, and the availability of portable electronic devices for automotive, industrial, and healthcare applications.
The absolute pressure sensor segment is expected to lead the global pressure sensor market during the forecast period
The absolute pressure sensor segment is expected to lead the global pressure sensor market during the forecast period. The precise measurements offered by these pressure sensors, along with the reference vacuum and reference pressure value make it possible for manufacturers to use absolute pressure sensors in the industry. The increasing adoption of absolute pressure sensors in automotive, medical, industrial and utility applications is driving the market.
Optical technology sees highest compound annual growth rate (CAGR) in pressure sensor market during forecast period
The optical technology market is expected to grow at the highest CAGR within the global pressure sensor market during the forecast period. Optical pressure sensors are resistant to electromagnetic interference and can perform very well in applications where other pressure sensing technologies fail due to such disturbances. These pressure sensors work well in the presence of chemicals or explosives as well.
The pressure sensor market for HVAC systems is expected to grow at the highest CAGR during the forecast period
The pressure sensor market for HVAC systems is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. Refrigerants in HVAC systems such as ammonia can be hazardous to human health in the event of a leak. Pressure sensors are used to monitor the pressure of ammonia as it passes through the system to ensure it remains within the required limits. HVAC systems are widely used in all sectors to maintain proper ventilation in workplaces. Its application in smart homes is also gaining momentum. Hence, the increasing number of smart homes worldwide is expected to drive the market growth of pressure sensors during the forecast period.
The automotive sector will capture the largest share of the pressure sensor market during 2021-2026
Pressure sensors are widely used in automotive applications to measure and control the pressure of various automotive fluids including engine oil, gearbox, transmission oil and hydraulic oil in braking systems, cooling systems, and fuel systems. There is a growing demand for pressure sensors from the automotive industry due to various safety mandates by governments. For example, in engine management systems, to enhance the efficiency of car engines, pressure sensors are required to accurately monitor engine conditions such as air volume and exhaust gas pressure in the EGR system. In addition to this, the tire pressure monitoring mission is also driving the growth of the pressure sensor market.
Distinctive insights
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Increased global adoption of pressure sensors in IoT applications expected to fuel market growth from 2021 to 2026
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Piezoresistive technology to account for the largest share of the global pressure sensor market in 2026
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Absolute pressure sensors to account for the largest share of pressure sensors market in 2026
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Automotive segment on Vehicles and Automobiles of Pressure Sensors Market to account for the largest shares in 2026
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APAC will capture the largest share of the global pressure sensor market in 2026
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The market in India is growing at the highest CAGR during the forecast period
market dynamics
drivers
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Increasing demand for pressure sensors in cars
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Strict car regulations
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Increased demand for pressure sensors from the medical industry during the COVID-19 pandemic
limitations
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Great pricing pressure
chances
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Increasing adoption of IoT by end-use industries
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The growth of the consumer electronics industry
Challenges
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High regulatory hurdles
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Decreased demand from the oil and gas industry due to the COVID-19 pandemic
Company Profile
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FIG
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amphenol
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BD Sensors GmbH
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Emerson Electric Co
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Enders + Hauser
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General Electric
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Honeywell International Corporation
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IFM Electronic GmbH
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Infineon Technologies Ag
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Jumo GmbH & Co. Kg
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Keta Sensor Tech. Co., Ltd.
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Micro Sensor Co., Ltd.
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Nidic Kopal Electronics
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Phoenix Sensors, LLC
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quartzite
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Sensata Technologies, Inc.
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Siemens
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TE Connectivity Ltd.
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Trafag Ag
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TT Electronics
For more information on this report, visit https://www.researchandmarkets.com/r/1fakh5
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