Pressure Transducer Market Research, 2030
The Global Pressure Transducer Market was valued at $7.40 billion in 2021, and is projected to reach $19.47 billion by 2030, growing at a CAGR of 11.29% from 2022 to 2030.
Pressure transducer is a device that generates electric signal due to applied pressure. Pressure transducers uses piezoresistive technology, with the change in pressure the piezoresistive element measures the electrical resistance. A pressure transducer usually measures, detects, and transmits information which helps to monitor the performance of a device. The pressure transducers measures various types of pressures such as vacuum, gauge, differential, and absolute pressure, and it also helps to control and monitor the pressure of liquids and gases. These transducers are widely utilized in a wide range of domestic and industrial applications where measuring pressure is necessary, including HVAC, pumps, automobiles, and aircraft.
For instance, the pressure transducers are used to measure the water level in a tank, pressure in high temperature environment, identifying gas leak, and monitoring flow rates.
Segment Overview
The pressure transducer market is segmented into Technology, Pressure Type and End Use.
For measuring barometric pressure, ex vivo blood pressure, in vivo blood pressure, and intraocular pressure, pressure transducers are frequently used in medical devices. With rising demand for breathing apparatus to monitor the oxygen levels of patients, the use of pressure transducers has increased rapidly. This is expected to drive the market revenue growth of pressure transducers.
Monitoring and maintaining process parameters at the proper levels is essential in industrial automation and process control. In a variety of process industries, industrial automation reduces operational costs, enhances product quality, increases productivity, and addresses industrial health and safety concerns. The process industries have stepped up their efforts to follow best practices and have thus, incorporated the use of pressure transducers. This is predicted to increase the pressure transducer market share. Although the extensive application of pressure transducers in wearable electronics and automated intelligent controls results in higher shipment, price erosion considerably hinders the sales. This is mostly because of the severe competition that is occurring among the rising number of transducer manufacturers, which is leading to various new inventions.
Governments in industrialized nations are being forced to enact strict car emission and safety requirements as a result of rising environmental and safety concerns. As a result, an increasing number of vehicles are equipped with different safety features such as airbags and Anti-skid Braking System (ABS), all of which depend on pressure transducers to operate. Therefore, increasing demand for cars will have a favorable effect on the expansion of the pressure transducers market during the course of the forecast years.
The Major key players profiled in this report include Panasonic Corporation, Sensata Technologies, Inc, Honeywell International Inc, Validyne Engineering, Robert Bosch Gmbh, NXP semiconductors, Setra Systems, Inc. (Fortive), ControlAir, Inc, and Kulite Semiconductor Products Inc.
The global pressure transducer market is segmented on the basis of technology type, pressure type, end-use industry, and region. By technology type, the market is sub-segmented into pieroresistive strain gauge, capacitance, and others. By pressure type, the market is sub-segmented into absolute pressure, gauge pressure, and differential pressure. By end-use industry, the market is classified into automotive, consumer electronics, industrial, healthcare, oil & gas, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By technology type, the pieroresistive strain gauge sub-segment dominated the market in 2021, whereas the capacitance sub-segment is projected to be the fastest growing during the forecast period. The piezoresistive strain gauge market is expanding due to increased government safety regulations, rising vehicle demand in developing nations, and nanotechnology applications. These factors will all contribute to market expansion in the forecast time. Another emerging trend among pressure transducer makers is the inclusion of a broad range of goods in piezoresistive strain gauges.
Capacitance type transducers have more applications now than ever as they are available as miniature which is enabled by MEMS (micro-electromechanical systems) technology. The production costs of capacitive pressure sensors have decreased as a result of miniaturization. As a result of its low price, high efficiency, and variety of uses, the capacitive pressure transducer is growing in popularity. These are predicted to be the major factors affecting the pressure transducer market size during the forecast period.
By pressure type, the sub-segment absolute pressure dominated the market in 2021, whereas the gauge pressure sub-segment is projected to be the fastest growing during the forecast period. The growth of this sub-segment can be attributed to the use of absolute pressure transducers for the measurement of air or gas pressure in the automobile sector. The need to manufacture secure vehicles in the automotive sector, is bound to create a scope of growth for the sub-segment during the forecast period.
In various applications, fluid pressure is measured using pressure gauges. Pressure gauges are being used more frequently in a variety of areas, including healthcare and the automotive sector as blood pressure monitors and air pressure sensors, respectively. Food and Beverage (F&B), mining, metal processing, and consumer goods sectors too have observed a surge in the deployment of pressure gauges. Therefore, they are some of the important factors that are expected to drive the market expansion.
By end-use industry, the automotive sub-segment dominated the global pressure transducer market share in 2021, whereas the industrial sub-segment is anticipated to have the fastest growth during the forecast period. Growth in the automotive sub-segment is anticipated to be driven by increasing demand for passenger vehicles in emerging markets as a result of rapid economic development as well as growing adoption of advanced automotive technologies such as Tire Pressure Monitoring System (TPMS), Anti-skid Braking System (ABS), Electronic Stability Control (ESC), and airbags in the passenger vehicle segment.
Industrial pressure sensors have a sturdy enclosure that resists abrasion and corrosion from substances such as liquids and gases. Additionally, they are made to be extremely resistant to any external electrical influences. Fittings for electrical and pressure connectors are durable and damage-resistant as well. As it may be used in a wide variety of production and process applications, pressure transducers are increasingly being used in industrial applications such as hydraulics, geotechnical, utilities, power stations, and others. The industrial sub-segment is therefore predicted to develop at a fastest rate.
By region, the North America dominated the global market in 2021 and is projected to remain the fastest-growing sub-segment during the forecast period. The automobile industry, which uses pressure sensors for a number of applications such as Tire Pressure Monitoring System (TPMS) and Exhaust Gas Recirculation (EGR) system is the main driver of the pressure sensor market. Pressure transducer demand has increased as a result of government regulations demanding pressure sensors in automobiles. The market for pressure transducers in North America is being impacted by safety regulations, which constitute a significant industry driver thus fueling revenue growth of the regional market.
Whereas, Asia-Pacific market is anticipated to rise as a result of the existence of major market players, technical developments, and the expansion of process industries in the region. Due to the adoption of industrial automation and optimum utilization to achieve high-performance efficiencies to achieve optimization and reduce performance failures in the automated sector, the Asia-Pacific pressure transducer market revenue is anticipated to rise favorably over the projected period.
Impact of COVID-19 on the Global Pressure Transducer Industry
- The COVID-19 pandemic outbreak has had a severe effect on the several markets including the pressure transducer industry. The supply chain has been disrupted, and many industries have been closed as a result of the severe regulations that several governments implemented.
- The automobile industry has been severely affected by the worldwide economic slowdown, which has further led to a substantial fall in demand for and sales of pressure transducers
- Additionally, the strict border closures and lockdowns have caused a decline in the market for pressure sensors in the automobile sector globally. These factors have had an impact on the market's expansion during the crisis.
- However, post COVID-19 pandemic impact on pressure transducer market is projected to expand steadily due to adoption and advancements in Microelectromechanical systems (MEMS) technology
- Furthermore, rising demand from the automotive and medical sector, strict governmental regulations, and rising popularity of smartphones and other consumer durables are projected to grow the pressure transducer market size in near future
Highlights of the Report
- The report provides exclusive and comprehensive analysis of the global pressure transducer market trends along with the pressure transducer market forecast
- The report elucidates the pressure transducer market opportunity along with key drivers, and restraints of the market. It is a compilation of detailed information, inputs from industry participants and industry experts across the value chain, and quantitative and qualitative assessment by industry analysts
- Porter’s five forces analysis helps analyse the potential of the buyers & suppliers and the competitive scenario of the market for strategy building
- The report entailing the pressure transducer market analysis maps the qualitative sway of various industry factors on market segments as well as geographies. Also, the analysis on pressure transducer sensor, absolute pressure sensor, differential pressure transducer is provided in this study.
- The data in this report aims on pressure transducer market outlook covering the industry dynamics, trends, and developments affecting the pressure transducer market growth
Pressure Transducer Market Report Highlights
| Aspects | Details |
 By Technology |
|
 By Pressure Type |
|
 By End Use |
|
 By Region |
|
 Key Market Players | Honeywell International Inc, Validyne Engineering, Setra Systems, Inc. (Fortive), Robert Bosch Gmbh, NXP semiconductors, Panasonic Corporation, sensata technologies, inc., Kulite Semiconductor Products Inc., ControlAir, Inc., ABB Ltd |
Analyst Review
Improvements in Microelectromechanical systems (MEMS) and Nanoelectromechanical systems (NEMS) technology has resulted in the increased demand for pressure transducers and this is the key factor projected to drive revenue growth of the global pressure transducer market during the forecast period. In addition, pressure transducers are used in a variety of process industries, to reduce operational costs, enhance product quality, and increase productivity, thus it is expected to fuel revenue growth of the market in the forecast timeframe. However, price erosion due to high demand of pressure transducers is expected to hamper the market revenue growth. Moreover, governments in industrialized nations are being forced to enact strict car emission and safety requirements as a result of growing environmental and safety concerns. These factors are thus anticipated to provide remunerative opportunities for key players to maintain the pace of the pressure transducer market in the upcoming years.
Among the analyzed regions, North America is expected to account for the highest revenue in the market by the end of 2031. Stringent government safety regulations and adoption of industrial automation are the key factors responsible for dominating position of North America in the global pressure transducer market.
The use of pressure transducer in medical devices to measure blood pressure, barometric pressure, and intraocular pressure are the upcoming trends in the market.
The pressure transducer have various applications across chemical, chemical, automotive manufacturing, medical equipment, and other sectors.
North America is the largest regional market for the pressure transducer industry.
The pressure transducer market is estimated to reach $19,466.1 million by 2030.
The top companies with largest market share in the pressure transducer are Panasonic Corporation, Sensata Technologies, Inc, Honeywell International Inc, Validyne Engineering, Robert Bosch Gmbh, and NXP semiconductors.
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