June 29, 2016
HYDERABAD, India and MINNEAPOLIS — According to new market research report – “Pressure Sensors Market By Application (Pressure Sensing, Leak Testing, Flow Sensing); By Type (Gauge, Vacuum, Absolut); By Technology (Piezoelectric, Capacitive, Electromagnetic); By Verticals (F&B, Automotive, Chemical) – Forecast- 2016-2021”, published by IndustryARC, the pressure sensors market is estimated to reach $12.23 Billion by 2021 at a high CAGR.
Pressure sensors act as transducers and generate analog or digital signal based on the amount of pressure applied, typically on gases or liquids. Different types of pressure such as differential, gauge pressure, vacuum, differential and sealed are measured by pressure sensors and transmitters. Pressure sensors undergo displacement in the underlying sensing element producing an electrical signal which can either be current, resistance, capacitance or voltage, thus having applications across various industry verticals. The demand for pressure sensors is growing at a steady rate owing to the advancements in design of sensors that make it compatible with a wide range of liquids and gases.
According to a recent study by IndustryARC, the global market for pressure sensors is estimated to reach $12.23 Billion by 2021. The major sector affecting the pressure sensor demand in Americas is the healthcare segment. The demand for class III devices that contain MEMS and pressure sensors increased owing to the new healthcare policies that include them under the benefits available to patients.
Americas Region was the Market Leader in Pressure Sensors Market with approximately 34% of the total market and is estimated to grow at a CAGR of 5.8% through 2016 to 2021. The fastest growing market however will be APAC; this market will witness a tremendous growth in the forecast period. Asia-pacific is one of the most potential and fastest growing markets for pressure sensors mainly driven by increasing factory automation, continuing growth of investments in manufacturing sector and booming automobile manufacturing.
Pressure sensors have been replacing quite a number of traditional mechanical equipment due to their enhanced functionalities. The inclination towards this technology is expected to grow further owing to the evolving requirements of end-user industries coupled with potency and flexibility of pressure sensors to satisfy the emerging needs. Furthermore, pressure sensors are highly compatible with modern day automated devices as compared to mechanical devices. With the integration of NEMS and MEMS in pressure sensing technologies, manufacturers have been successful in developing low cost, high performance, low sized devices luring the industrial and commercial clients towards electronic pressure sensors, replacing old technologies such as hydrostatic gauges, pistons, liquid column manometer and so on.
The Major Players in the Pressure Sensor for Automotive Market include:
•Bosch Sensortec GmbH (Germany)
•Sensata Technologies (U.S.)
•Continental AG (Germany)
•Denso Corporation (Japan)
•Infineon Technologies (Germany)
The pressure sensors market witnessed several patents filed between 2012 and 2016; the high number of patents depicts the R&D spends, and rate of technology adoption in this market. Japan, Germany, South Korea, the U.S. and China were the front-runners in this race for innovation. However, achieving low costs and eliminating technical challenges in AP&T (Assemble, Packaging and Testing) of MEMS sensor is still a challenge for the manufacturers.
The Report on Pressure Sensor Market provides a detailed analysis of different types of sensors, different technology used, application and verticals.
The Pressure Sensor Market incorporates the various Types of Technology in the Report –
•Optical Pressure Sensing
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
Segmentation Based on Geography
•Americas – North America, Brazil, Argentina & Mexico
•Europe – UK, France & Germany
•APAC – China South Korea, Japan, Australia
•Rest of the World
Browse – 70 Market Tables, 183 figures spread through 305 Slides and an in-depth TOC on “Pressure Sensors Market” at http://industryarc.com/Report/11706/pressure-sensors-market.html
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Source Article from http://www.sensorsmag.com/news/market-news/news/pressure-sensors-market-reach-1223-billion-usd-2021-22477
Pressure Sensors Market to Reach 12.23 Billion USD by 2021
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