Growing adoption of pressure sensor in portable healthcare wearables is a key factor driving pressure sensor market growth
Market Size – USD 14.56 Billion in 2021, Market Growth – at a CAGR of 7.9%
The global pressure sensor market size was USD 14.56 Billion in 2021 and is expected to register a revenue CAGR of 7.9% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of pressure sensors in portable healthcare wearables is the key factor driving market revenue growth.The market intelligence report is a prototype of the 360° overview of the global Pressure Sensor industry, shedding light on the estimated market value, share, growth trends, gross revenue, competitive overview, prominent manufacturers and buyers, available product types, and end-use applications.
The latest research report is dubbed as the first document encompassing the latest information about the Pressure Sensor market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Pressure Sensor industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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Some Key Highlights from the Report
- The electromagnetic segment revenue is expected to increase at a significantly fast rate over the forecast period. This is due to growing use of electromagnetic pressure sensor in electrical applications owing to its low cost, suitability, and high efficiency, which is also used in harsh environments. In June 2022, Baumer hhs GmbH, a Germany-based engineering company announced to launch a modular glueing system for corrugated converters with an adhesive detection sensor. It also has an electromagnetic drive with a 42% high closing force.
- The industrial segment is expected to register a steady revenue growth rate over the forecast period due to growing adoption of pressure sensors in various industrial applications. Oil-free designs, high-proof pressure ratings, better accuracy, and higher resolution are all advantages of a pressure sensor utilized in industrial applications.
- The Asia Pacific market accounted for largest revenue share in the global pressure sensor market in 2021. This is due to growing adoption of pressure sensors in consumer electronics and automotive in countries across the region, especially in China, Japan, and India. China is one of the largest automotive manufacturing countries in the world. According to China Association of Automobile Manufacturers (CAAM), total automotive sales in China is expected to reach 27.5 million units for 2022.
The latest study provides an insightful analysis of the broad competitive landscape of the global Pressure Sensor market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Pressure Sensor market and pinpoint the fundamental growth trends.
Some major companies in the global market report include Emerson Electric Co., Honeywell International Inc., Sensata Technologies, Inc., Micro Sensor Co., Ltd., BD SENSORS GmbH, City Technology Limited, ABB Ltd., Siemens AG., Membrapor AG., Quartzdyne, Inc., Renesas Electronics Corporation, and Texas Instruments Incorporated
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Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales & distribution channels
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
Product Type Outlook:
- Sensor type (Revenue, USD Billion; 2019-2030)
- Wireless Sensors
- Wired Sensors
- Technology Outlook (Revenue, USD Billion; 2019-2030)
- Resonant Solid-State
- Product Outlook (Revenue, USD Billion; 2019-2030)
- Absolute Pressure Sensors
- Differential Pressure Sensors
- Vacuum Pressure Sensors
- Sealed Pressure Sensors
- Gauge Pressure Sensors
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Consumer Electronics
- Oil & Gas
- Besides offering a vivid depiction of the global Pressure Sensor business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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