Pressure Sensor Industry Overview

The global pressure sensor market size was valued at USD 18.73 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The market’s growth can be attributed to the rising demand for pressure sensors from various industry verticals, such as automotive and healthcare, and in various applications, such as consumer electronics, portable healthcare wearables, alarm systems, medical breathing appliances, water purifiers, refrigeration systems, and off-road constructions among others. Moreover, technological development has led to the production of compact, cost-effective, and even smart pressure sensors that can be linked to smart devices for accurate measurements, significantly contributing to the market’s demand.

Gather more insights about the market drivers, restrains and growth of the Pressure Sensor Market

The growing use of pressure sensors in home appliances, such as refrigerators and washing machines, is driving the demand for pressure sensors. Numerous pressure sensor providers are also focusing on developing innovative products to cater to the increasing demand from the consumer electronics sector. For instance, in March 2021, Bosch Sensortec, a pressure sensor provider, launched BMP384, which is a robust barometric pressure sensor. BMP384 is a high-performance and low-consumption sensor, which makes it ideal for home appliances, wearables, and industrial applications in harsh environments. Such product launches are harnessing innovation and growth in the market.

Several OEMs have started using Microelectromechanical Systems (MEMS) pressure sensors in smartphones, tablets, and wearables. For instance, Samsung has integrated pressure sensors in its flagship phone Galaxy S4. Other handset makers, such as Sony Mobile Communications AB, Apple Inc., and Xiaomi Inc., have also started using MEMS pressure sensors in their respective smartphones. Consumers’ preference for compact consumer electronics and the advances in MEMS technology have also enabled the development of sensors that are smaller in size. As a result, the adoption of MEMS pressure sensors in consumer electronics is growing, thereby contributing to the overall market’s growth.

In recent years, the automotive industry is undergoing a technology transition with an increasing focus on comfort and safety, which provides ample opportunities for the development of pressure sensors. At the same time, increasing sensor-rich applications in drones, autonomous vehicles, and AR/VR equipment are further accelerating the demand for MEMS pressure sensors. Moreover, the increasing military spending across regions is also paving the way for technologies like drones and Unmanned Aerial Vehicles (UAVs). Such factors bode well for the growth of the market over the forecast period.

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• The global consumer electronics market size was valued at USD 1,068.22 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030.
• The global microelectromechanical systems (MEMS) market size was valued at USD 11.99 billion in 2015. Presently, growth prospects for the market seem very upbeat on account of increasing adoption of this technology in consumer electronic devices such as wearable devices, tablets, and smartphones.

Pressure Sensor Market Segmentation

Grand View Research has segmented the global pressure sensor market on the basis of product, type, technology, application, and region:

Pressure Sensor Product Outlook (Revenue, USD Million, 2017 - 2030)

• Absolute Pressure Sensors
• Differential Pressure Sensors
• Gauge Pressure Sensors

Pressure Sensor Type Outlook (Revenue, USD Million, 2017 - 2030)

• Wired
• Wireless

Pressure Sensor Technology Outlook (Revenue, USD Million, 2017 - 2030)

• Piezoresistive
• Electromagnetic
• Capacitive
• Resonant Solid-State
• Optical
• Others

Pressure Sensor Application Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Oil & Gas
• Consumer Electronics
• Medical
• Industrial
• Others

Pressure Sensor Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Nordic Region
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
• Latin America
  • Brazil
  • Argentina
• Middle East & Africa
  • UAE
  • Saudi Arabia

Key Companies profiled:

• AlphaSense
• City Technology Ltd.
• Dynament Ltd.
• Figaro Engineering Inc.
• Membrapor
• Nemoto Kyorindo co., Ltd.
• Robert Bosch GmbH
• ABB Ltd.
• Siemens
• GfG Europe Ltd.

Key Pressure Sensor Company Insights

The competitive landscape of the market is highly fragmented. Market players are focused on strategies, such as partnerships, joint ventures, product innovation, research & development, and geographical expansion, to strengthen their market positions. Furthermore, key players are investing in research & development activities to launch new products to cater to the changing consumer preferences. Key market players are launching devices suitable for specific applications in industries, such as automotive, industrial, oil & gas, consumer electronics, and medical and environmental monitoring.

For instance, in April 2023, Valeport, a manufacturer of environmental sensors, announced it will launch the latest offering, the SwiFT Deep CTD. This product is specifically designed to facilitate CTD measurements up to 6,000 meters in depth. The launch of this product is aimed at providing users with the advantages of density-corrected output, coupled with the flexibility of incorporating third-party pressure sensor input, and Valeport's interchangeable pressure modules. The intent is to improve accuracy levels for users operating at different depths. Such initiatives are harnessing the competitive landscape of the market. 

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.