Pressure Sensor Market Value Anticipated To Reach US$ 24.5

19 May 2021
www.globenewswire.com
LOS ANGELES, May 19, 2021 (GLOBE NEWSWIRE) -- The Global Pressure Sensor Market is expected to grow at a CAGR of around 8.8% from 2020 to 2027 and reach the market value of over US$ 24.5 Bn by 2027. A pressure sensor is a device used to sense pressure and convert it into an electric signal. These pressure sensors can alternatively be called pressure transmitters, pressure transducers, pressure indicators, pressure senders, piezometers, and manometers, among others. These are available in various designs, technology, performance, application suitability, and cost. The global pressure sensor market is segmented on the basis of product type, function, technology, application, end-user industry, and geography. On the basis of product type, the market is divided into absolute pressure sensors, gauge pressure sensors, differential pressure sensors, sealed pressure sensors, and vacuum pressure sensors. Based on the function, the pressure sensor is studied across pressure sensing, altitude sensing, flow sensing, and depth sensing. DOWNLOAD SAMPLE PAGES OF THIS REPORT@ By technology, the market is divided across piezoresistive, capacitive, resonant, electromagnetic, optical, others. Additionally, pressure sensors have applications across automotive on-vehicle, medical devices, HVAC, process controls, test & measurement, and others. The end-user industry includes automotive, medical, industrial, utility, aviation, oil & gas, marine, consumer electronics, and others. Based on the application, the automotive on-vehicle segment is leading the market with maximum revenue share and the segment is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The segment is accounted for the maximum revenue share owing to its high demand and usage across the globe. Asia Pacific dominated the pressure sensor market in 2019 and the region is also projected to maintain its dominance throughout the forecast period from 2020 to 2027. The dominance of the automotive market in the region due to expanding manufacturing units and demand across the developing economies is contributing to the maximum revenue share in the pressure sensor market. VIEW TABLE OF CONTENT OF THIS REPORT@ North America is projected to experience the fastest growth over the forecast period from 2020 to 2027 in the pressure sensors market. The increasing demand for pressure sensors in industry verticals like oil & gas, petrochemical, and medical is further accelerating the regional market growth. The US contributes to the maximum revenue share in the regional market. Some of the leading competitors are ABB Ltd., AlphaSense, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., GfG Europe Ltd, Membrapor AG., Nemoto & Co., Ltd., Robert Bosch LLC., Siemens AG., and others. The major players are continuously making possible efforts for the development of advanced products that can serve the end-user better by meeting the regulations and requirements. Browse Upcoming Market Research Reports@  Some of the key observations regarding the pressure sensor industry include: INQUIRY BEFORE BUYING@ BUY THIS PREMIUM RESEARCH REPORT - Would like to place an order or any question, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157 For Latest Update Follow Us:
Organizations
Indications
-
Targets
-
Drugs
-
Chat with Hiro
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.