Pressure Sensor Market By 2027 – Drivers, Restraint & Future Growth
The pressure sensor market report encompasses an in-depth analysis of the business space in question. All the growth facilitators responsible for furling the revenue scope of this industry are mentioned in the study in conjunction with the competitive and geographical trends characterizing this business. Some of the very pivotal parameters encompassed in the report fall along the lines of industry segmentation, industry ecosystem analysis, vendor matrix, and industry insights.
Technological innovations in Micro-Electro-Mechanical Systems (MEMS) such as capacitive MEMS pressure sensor and rising developments in smart home appliances will fuel the pressure sensor market growth. Capacitive pressure sensors based on MEMS technology offer low power consumption and a smaller footprint which drive its use in consumer electronics devices. Meanwhile, smart home appliances such as air conditioners, refrigerators, etc., are incorporating digital pressure sensor to control and regulate temperature parameters.
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Numerous intuitive product features comprising compact footprint, low power consumption, precision pressure management, and high stability are expected to have a significant impact on resonant solid state sensors adoption worldwide.
These pressure sensor types also have the capability of withstanding high-temperature environments, which escalates their adoption in the chemical, aerospace, and pharmaceutical industries. Owing to these attributes, the segment is projected to expand at a rate of 7% through 2027.
Gauge pressure sensors recorded almost 13.5% of the total pressure industry value in 2020. The segment is expected to expand at a substantial rate between 2021 and 2027. This is mainly due to the surging adoption of gauge pressure sensor types in residential and industrial HVAC control systems.
These pressure sensors measure relative pressure w.r.t. variable atmospheric pressure. This is crucially significant for HVAC control systems.
Numerous market players are focusing on the integration of new technologies into gauge type sensors for maintaining their position in the market.
Considering an instance, in May 2021, BCM Sensor Technologies B.V. launched piezoresistive gauge pressure sensor by deploying glass-sintering-bond technology. The new product provides full-scale accuracy of up to 0.35% and has a pressure measurement range from 0-5000 bar.
On the whole, the escalating demand for the usage of absolute pressure sensors in the food & beverage industry will positively influence pressure sensor market growth throughout 2021 to 2027.
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The Europe pressure sensor market will expand at a CAGR of more than 6.5% through the analysis period. This is due to the presence of numerous automotive manufacturers in the region comprising Daimler AG, PSA Group, BMW Group, and Audi. These players are extensively focusing on the enhancement of automotive production in Europe.
Major Key Points from Table of Content:
Chapter 6 Pressure Sensor Market, By Technology
6.1 Key trends, by technology
6.2 Piezoresistive
6.2.1 Market estimates and forecast, 2016 - 2027
6.3 Capacitive
6.3.1 Market estimates and forecast, 2016 - 2027
6.4 Resonant solid-state
6.4.1 Market estimates and forecast, 2016 - 2027
6.5 Electromagnetic
6.5.1 Market estimates and forecast, 2016 - 2027
6.6 Optical
6.6.1 Market estimates and forecast, 2016 - 2027
6.7 Piezoelectric
6.7.1 Market estimates and forecast, 2016 - 2027
6.8 Others
6.8.1 Market estimates and forecast, 2016 - 2027
Chapter 7 Pressure Sensor Market, By Output
7.1 Key trends, by output
7.2 Analog
7.2.1 Market estimates and forecast, 2016 - 2027
7.3 Digital
7.3.1 Market estimates and forecast, 2016 - 2027
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