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Global Pressure Sensor Market Forecast to 2026: Piezoresistive Technology to Account for the Largest Share of the Global Pressure Sensor Market in 2026 – ResearchAndMarkets.com

DUBLIN – ()–The “Global Pressure Sensor Market with COVID-19 Impact Analysis by Sensor Type (Wired, Wireless), Technology (Piezoresistive, Capacitive, Optical), Product (Absolute, Gauge, Differential), End Use, Vertical, and Geography – Forecast to 2026” Report was added to ResearchAndMarkets.com to offer.

The global market for pressure sensors is expected to grow from 14.8 billion USD in 2021 to 21.9 billion USD by 2026; It is expected to grow at a CAGR of 8.2% over the forecast period.

The demand for pressure sensors is continuously increasing due to their increasing applications in the IoT environment. The growth in the pressure sensor market can also be attributed to increasing global demand for miniaturized devices, technological advances in electronic devices, and the availability of wearable electronic devices for automotive, industrial, and healthcare applications.

The absolute pressure sensors segment is expected to lead the global pressure sensors market during the forecast period

The absolute pressure sensors segment is expected to lead the global pressure sensors market during the forecast period. The accurate measurements provided by these pressure sensors, along with the reference vacuum and pressure value, make it possible for manufacturers to use absolute pressure sensors in industry. The increasing prevalence of absolute pressure sensors in automotive, medical, industrial and utility applications is driving the market.

Optical technology that has the highest CAGR in the pressure sensor market during the forecast period

Optical Technology Market is expected to grow with the highest CAGR in the global Pressure Sensor Market during the forecast period. Optical pressure sensors are resistant to electromagnetic interference and can be used very well in applications where other pressure sensor technologies fail due to such interference. These pressure sensors also work well in the presence of chemicals or explosive materials.

The market for pressure sensors for HVAC systems is expected to grow at the highest CAGR over the forecast period

The market for pressure sensors for HVAC systems is expected to grow at the highest CAGR over the forecast period. Coolants in HVAC systems, such as ammonia, can be hazardous to health if they leak. Pressure sensors are used to monitor the pressure of ammonia as it flows through the system to ensure that it stays within the required limits. HVAC systems are widely used in all industries to maintain adequate ventilation in workplaces. Their use in the smart home is also gaining momentum. Hence, the increasing number of smart homes worldwide is expected to drive the growth of the pressure sensor market over the forecast period.

Automotive segment holds largest share of Pressure Sensor market in 2021-2026 period

Pressure sensors are widely used in automotive applications to measure and control the pressure of various automotive fluids including engine oil, transmission oil, and hydraulic oil in brake systems, cooling systems, and fuel systems. The demand for pressure sensors from the automotive industry is increasing due to various government safety requirements. For example, to improve the efficiency of automobile engines in engine management systems, pressure sensors are required to accurately monitor engine conditions such as the air volume and exhaust pressure of the EGR system. In addition, the mandate for tire pressure monitoring promotes the growth of the market for pressure sensors.

Premium insights

  • Increased worldwide distribution of pressure sensors in IoT applications is expected to stimulate market growth from 2021 to 2026

  • Piezoresistive technology will account for the largest share of the global pressure sensor market in 2026

  • Absolute pressure sensors will account for the largest share of the pressure sensor market in 2026

  • Automotive on-vehicle and automotive segment of the pressure sensor market with the largest shares in 2026

  • APAC will have the largest share of the global pressure sensor market in 2026

  • Market in India is growing with the highest CAGR during the forecast period

Market dynamics

driver

  • Increased demand for pressure sensors in the automotive industry

  • Strict regulations for the automotive industry

  • Increased demand for pressure sensors from the medical industry during the COVID-19 pandemic

Restrictions

  • Considerable price pressure

opportunities

  • Increased adoption of IoT by end-user industries

  • Consumer electronics industry growth

challenges

  • High regulatory barriers

  • Decline in demand from the oil and gas industry due to the COVID-19 pandemic

Company profiles

  • FIG

  • Amphenol

  • BD Sensors GmbH

  • Emerson Electric Co.

  • Endress + Hauser

  • General electrics

  • Honeywell International Inc.

  • IFM Electronic GmbH

  • Infineon Technologies AG

  • Jumo GmbH & Co. KG

  • Daycare Sensor Tech. Co., Ltd.

  • Microsensor Co., Ltd.

  • Nidec Copal Electronics

  • Phoenix Sensors, LLC

  • Quartz dyn

  • Sensata Technologies, Inc.

  • Siemens

  • TE Connectivity Ltd.

  • Trafag Ag

  • TT electronics

For more information on this report, see https://www.researchandmarkets.com/r/1fakh5

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