Market Research Report
Pressure Sensors Market: By Application ; By Product Type ; By Technology ; By Verticals ; By Geography - 2019-2024
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|Pressure Sensors Market: By Application ; By Product Type ; By Technology ; By Verticals ; By Geography - 2019-2024|
|Published: December 27, 2018||Content info:||
The global pressure sensor market is estimated to rise at a CAGR of 12% during 2018-2023. The overall pressure sensor market which includes various applications such as pressure sensing, leak sensing, flow sensing, depth sensing and altitude sensing generated a revenue of $4315 million in 2017 and is expected to rise at a CAGR of 6.5% during 2018-2023. Among the various end users, food and beverage industry generated a maximum revenue of $283.82 million and is set to grow at a CAGR of 10.2% during the forecast period 2018-2023.The emergence of advanced pressure sensors that serve at high temperature, harsh and hazardous environment as well as adoption of smart pressure sensors at home has propelled the pressure sensor market.
What are Pressure sensors?
A pressure sensor is a device that senses pressure and converts it into a signal which depends upon the pressure applied. This signal is usually electrical but it might also include other types such as optic signals, visual signals or auditory signals. This allows the pressure to be monitored by several electronic instruments such as microprocessors, programmable controllers and computers. Pressure sensors are incorporated in systems to measure other variables such as fluid/gas flow, speed, water level, and altitude. Pressure sensors can vary drastically depending on technology, design, performance, application suitability and cost.
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What are the applications of Pressure Sensors?
Pressure sensors are used in a range of industries, including the food and beverage, automotive industry, bio medical Instrumentation, textile, chemical, pharmaceutical, aviation, marine industry and several others. Pressure sensor applications consist of altimeters, barometers, sensing printer ink levels, air flow rate in equipment, computer cooling systems, semiconductor process equipment, and laser measurement as well as clean room monitoring devices. Pressure sensors are also used in equipment leakage detection, variable air volume systems, air blades, compressed air pressure monitoring, industrial flow monitoring, filter pressure monitoring, duct air flow, gas detection, pneumatic controls, mine safety instrumentation, industrial degassers. In medical industry, pressure sensors are used in various devices such as blood pressure, intrauterine pressure, and drug infusion pumps.
Pressure sensors are having a wide scope in medical industry. However, today's sensors are not fully biocompatible. In order to overcome this issue, researches are developing a new implantable pressure that decomposes when its usefulness ends. This implantable sensor will be of great use to orthopedic surgery patients to accurately determine how much stress or pressure the repaired parts can withstand during rehab.
The advancement in technology has led to the development of a greener and more efficient diesel engines. Several companies have developed unique design to miniaturize the pressure sensors which monitor injection activity from within the structure of the injector itself. This allows a high level of fuel injection accuracy and ensures modern diesel engines offer a cleaner, quieter and more fuel efficient drive than ever before.
Tire under inflation increases fuel bills, CO2 emissions and makes a vehicle's steering less precise and thus has become a global issue. It also reduces a tire's endurance capabilities and makes it more prone to damage and possible rapid deflation. A new technology has been developed which involves the replacement of traditional valve caps with tire pressure monitoring sensors. It comprises a small solar-powered windscreen display to alert the driver of any tire defects such as loss of pressure, fast leakage or an increase in temperature.
Who are the Major Players in Pressure Sensors market?
The companies referred in the market research report are ABB Ltd, ALPS, Continental AG, Denso Corp, AMSECO, Ametek Inc., Honeywell International and 10 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
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Key Takeaways from this Report
Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
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