The global pressure sensor market was valued at USD 9.24 billion in 2018 and is expected to reach USD 14.08 billion in 2026, growing at a CAGR of 6.4% during the forecast period.
The pressure sensor is an instrument that is used specifically for pressure gauging of different types of gases and liquids. Working with a pressure sensor usually involves it generating a signal which acts as a function of the externally applied pressure,
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By Application: Automotive, Oil & Gas, Consumer Electronics, Medical, Utilities, Industrial, Aviation, Marine, Others
Company Profiles and Competitive Intelligence:
The major players operating in the global pressure sensor market are Honeywell (US), ABB (Switzerland), NXP Semiconductors (Netherland), Infineon Technologies (Germany), Emerson Electric (US), General Electric (US), Siemens (Germany), STMicroelectronics (Switzerland), Robert Bosch (Germany), and TE Connectivity (Germany) among others.
Based on the application, the oil & gas segment is expected to lead the market
Based on the application, the market has been segmented into automotive, oil & gas, consumer electronics, medical, utilities, industrial, aviation, marine, and others. The oil & gas industry segment is expected to hold nearly 31% in the global market in 2018. Growing oilfield exploration activities that are coupled with the demand from oil & gas vertical is resulting in segmental growth in the global market.
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Based on technology, the piezoresistive pressure sensors segment is anticipated to grow at fastest rate during the forecast period
Based on the technology, the market has been segmented into piezoresistive pressure sensors, capacitive pressure sensors, electromagnetic pressure sensors, resonant solid state pressure sensors, and optical pressure sensors among others. Growing adoption of piezoresistive technology in sensor development is fuelling the demand for pressure sensor globally.
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