April 13, 2022 11:30 ET | Source: TBRC Business Research PVT LTD TBRC Business Research PVT LTD
LONDON, April 13, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the pressure sensor market, the rising adoption of pressure sensors in industrial applications is expected to propel the growth of the pressure sensor market. In automation and industry, pressure sensors are used in systems to measure variables such as speed, fluid/gas flow, water level, and altitude. For instance, in 2020, Sensata Technologies, a US-based manufacturer of pressure sensors, launched hermetic pressure transducers that are built based on self-propelled micro silicon strain gauge technology. These sensors are used for industrial processes and contain mid-to high-pressure ranges. They have high accuracy, burst strength, and shock and vibration performance, which makes them a reliable and robust solution for customers with challenging measurement requirements. Therefore, the rising adoption of pressure sensors in industrial applications is driving the growth of the pressure sensor market.
The global pressure sensor market size is expected to grow from $11.09 billion in 2021 to $12.13 billion in 2022 at a compound annual growth rate (CAGR) of 9.37%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global pressure sensors market size is expected to reach $17.04 billion in 2026 at a CAGR of 8.87%.
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Technological advancements are gaining popularity among the global pressure sensor market trends. For instance, in 2021, BD Sensors GmbH, a Germany-based manufacturer of pressure sensors and pressure measurement devices, launched a DS5 electronic pressure switch. It has been designed for use in mobile working machines such as cranes, excavators, and harvesters, and it provides operational safety in mobile working machines. It is available in measuring ranges from 16 to 600 bar and is characterized by having a switching accuracy of s1% FSO and a high overload. Further in the healthcare, aerospace, oil and gas, and automotive pressure sensor markets, technologically improved solutions are emerging to fulfill varied demands.
Major players in the pressure sensors market are ABB Ltd., Emerson Electric Co., Honeywell International Inc., Infineon Technologies, NXP Semiconductors, Rockwell Automation Inc., Sensata Technologies, Siemens, STMicroelectronics, TE Connectivity, Amphenol, BD SENSORS GmbH, Bosch Sensortec GmbH, Eaton, General Electric, ifm electronic GmbH, Micro Sensor Co., Ltd., Quartzdyne Inc., Renesas Electronics, and TT Electronics.
TBRC’s global pressure sensor market research report is segmented by product type into absolute pressure sensor, gauge pressure sensor, differential pressure sensor, others; by technology into piezoresistive, capacitive, resonant solid-state, electromagnetic, optical, piezoelectric, others; by output into analog, digital; by sensor type into wired, wireless; by application into automotive, industrial, consumer electronics, healthcare, oil and gas, aerospace and defense, others.
North America was the largest region in the pressure sensor market in 2021. Asia Pacific is expected to be the fastest-growing region in the global pressure sensor market during the forecast period. The regions covered in the global pressure sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Pressure Sensor Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide pressure sensor market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, pressure sensor market trends, pressure sensor market drivers, pressure sensor market restraints, pressure sensor market leading competitors’ revenues, pressure sensor market profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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