The global pressure transducer market is envisioned to garner $19,466.1 million by 2030, growing from $7,400.7 million in 2021 at a CAGR of 11.29% from 2022 to 2030.
Pressure transducer is a device that transforms pressure into an analogue electrical signal. Pressure transducers are composed of non-toxic materials, and are flexible and small in size. They work effectively in applications where other pressure sensing technologies struggle because of electromagnetic interference as they are resistant to such disturbances. Additionally, these pressure sensors function well in the presence of toxic or explosive substances. Hence they are ideal for oil and gas and medicinal applications.
As a result of improvements in Microelectromechanical systems (MEMS) and Nanoelectromechanical systems (NEMS) technology, the need for pressure transducers has increased rapidly which significantly affects the pressure transducer market share globally. Consumer products such as smart wearable, biomedical applications, wireless & optical communications, and aircraft all use the pressure transducers. Thus, it is expected to drive revenue growth of pressure transducer market.
However, the use of pressure transducers in various industries such as automobiles, consumer electronics, and others tend to increase the cost of products and thus it is expected to hamper revenue growth of pressure transducer market during the forecast period.
Moreover, it is predicted that over the forecast period, rising trends towards Internet of Things (IoT) and a rise in demand for sensors in the construction of smart cities would create profitable opportunities for the expansion of the pressure transducer market. The pressure transducer also has a demand from the gaming and navigation application industry, which will serve as an opportunity for revenue growth of the market in near future. Also, a novel entry of wireless pressure transducers with built-in cellular connection in the pressure transducer market is expected to propel the market growth. Compared to traditional transducers, these gadgets make monitoring temperature and pressure simpler. Cellular pressure transducers are quick and simple to install. Thus, it is serving as a major opportunity for manufacturers in the pressure transducer market.
In 2020, the COVID-19 pandemic breakout and its subsequent spread had a negative effect on the pressure sensors market, leading to a decline in pressure sensor shipments. As a result, revenues dropped, which had a negative impact on the market revenue growth trends. This pattern persisted through the first quarter of 2021. However, the spread and development of Microelectromechanical systems (MEMS) technology, increased demand from the automotive and medical industry, strict governmental regulations, and rising popularity of smartphones and other consumer durables are all factors that are predicted to drive the global pressure sensor market revenue growth post COVID-19 pandemic.
The 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.
Pressure transducer is a device that transforms pressure into an analogue electrical signal. Pressure transducers are composed of non-toxic materials, and are flexible and small in size. They work effectively in applications where other pressure sensing technologies struggle because of electromagnetic interference as they are resistant to such disturbances. Additionally, these pressure sensors function well in the presence of toxic or explosive substances. Hence they are ideal for oil and gas and medicinal applications.
As a result of improvements in Microelectromechanical systems (MEMS) and Nanoelectromechanical systems (NEMS) technology, the need for pressure transducers has increased rapidly which significantly affects the pressure transducer market share globally. Consumer products such as smart wearable, biomedical applications, wireless & optical communications, and aircraft all use the pressure transducers. Thus, it is expected to drive revenue growth of pressure transducer market.
However, the use of pressure transducers in various industries such as automobiles, consumer electronics, and others tend to increase the cost of products and thus it is expected to hamper revenue growth of pressure transducer market during the forecast period.
Moreover, it is predicted that over the forecast period, rising trends towards Internet of Things (IoT) and a rise in demand for sensors in the construction of smart cities would create profitable opportunities for the expansion of the pressure transducer market. The pressure transducer also has a demand from the gaming and navigation application industry, which will serve as an opportunity for revenue growth of the market in near future. Also, a novel entry of wireless pressure transducers with built-in cellular connection in the pressure transducer market is expected to propel the market growth. Compared to traditional transducers, these gadgets make monitoring temperature and pressure simpler. Cellular pressure transducers are quick and simple to install. Thus, it is serving as a major opportunity for manufacturers in the pressure transducer market.
In 2020, the COVID-19 pandemic breakout and its subsequent spread had a negative effect on the pressure sensors market, leading to a decline in pressure sensor shipments. As a result, revenues dropped, which had a negative impact on the market revenue growth trends. This pattern persisted through the first quarter of 2021. However, the spread and development of Microelectromechanical systems (MEMS) technology, increased demand from the automotive and medical industry, strict governmental regulations, and rising popularity of smartphones and other consumer durables are all factors that are predicted to drive the global pressure sensor market revenue growth post COVID-19 pandemic.
The 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.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pressure transducer market analysis from 2021 to 2030 to identify the prevailing pressure transducer market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the pressure transducer market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global pressure transducer market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Technology
- Piezoresistive Strain Gauge
- Capacitance
- Others
By Pressure Type
- Absolute Pressure
- Gauge Pressure
- Differential Pressure
By End Use
- Automotive
- Consumer Electronics
- Industrial
- Healthcare
- Oil and Gas
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Panasonic Corporation
- sensata technologies, inc.
- ABB Ltd
- Honeywell International Inc
- Validyne Engineering
- Robert Bosch Gmbh
- NXP semiconductors
- Setra Systems, Inc. (Fortive)
- ControlAir, Inc.
- Kulite Semiconductor Products Inc.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PRESSURE TRANSDUCER MARKET, BY TECHNOLOGY
CHAPTER 5: PRESSURE TRANSDUCER MARKET, BY PRESSURE TYPE
CHAPTER 6: PRESSURE TRANSDUCER MARKET, BY END USE
CHAPTER 7: PRESSURE TRANSDUCER MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Pressure Transducer Market," the pressure transducer market was valued at $7.40 billion in 2021, and is estimated to reach $19.47 billion by 2030, growing at a CAGR of 11.29% from 2022 to 2030.Pressure transducer is a device that converts mechanical pressure into an electrical signal. A pressure transducer consists of a pressure sensitive elements that helps to detect, measure, and monitor the input pressure and converts it into an electrical output signal. There are different types of pressure transducers depending on their size, capacity, measurement method, sensing technology, and output requirements. Strain gauge transducer is one of the most popular types of pressure transducers, while there are several available in the market, including absolute, gauge, differential, and multivariable transducers. These transducers are widely utilized in a wide range of domestic and industrial applications where measuring pressure is necessary. Pressure transducers display electrical output as Millivolt, amplified voltage, or MilliAmpere.
Here are some of the most common applications of pressure transducers, there are almost as many applications as there are different types of pressure transducers. It is used in an engine test setup to measure inlet, outlet, or system pressure and helps to monitor pressure drops in a line for preventive maintenance. It also aids in measuring the fluid level in tanks and a flush diaphragm pressure transducer is used to measure the pressure of a slurry or slush. Furthermore, sanitary pressure transducers are used in the biotech or pharmaceutical sector.
A pressure transducer continuously measures parameters such as pressure, flow, and level in an industrial setting. The information obtained from all of these devices is processed and used to increase process efficiency, decrease the need for maintenance, enhance product quality, and increase overall productivity. Thus, to reach high optimization and reduce performance failures of equipment the use of pressure transducers has increased and is predicted to drive revenue growth of the global pressure transducer market revenue.
Another important driver responsible for the expansion of pressure transducer market size is the rising adoption of the smart product portfolios having digital communication interfaces. The construction of smart factories, towns, and households is being revolutionized by pressure transducers. Thus, it is projected that the rise in smart products will spur the market expansion.
As pressure transmitters have largely taken the role of pressure transducers in most applications due to the developments in Information and Communication Technologies (ICT) it is predicted to hamper revenue growth of pressure transducer market share. Additionally, as the price of pressure transmitters have been decreasing continuously, choosing transmitters over transducers has become more and more appealing. Thus, the higher price of pressure transducer is anticipated to affect revenue growth of the pressure transducer market in coming future.
The consumer electronics sector has had rapid expansion in recent years, and this expansion is anticipated to continue over the forecast period. Pressure transducer are employed extensively in new technologies being developed by players in the consumer electronics industry because of its advantages such as high accuracy, dependability, cost efficiency, durability, and sensitivity. These include washing machines, gaming consoles, navigational systems, wearable technology, cellphones, tablets, and other electronic devices.
The global pressure transducer market is segmented based on technology type, pressure type, end-use industry, and region. By technology type, it is classified into piezoresistive strain gauge, capacitance, and others. By pressure type, it is classified into absolute pressure, gauge pressure, and differential pressure. By end-use industry, it 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.
The key players profiled in the pressure transducer market analysis report include Panasonic Corporation, Sensata Technologies, Inc, ABB Ltd, Honeywell International Inc, Validyne Engineering, Robert Bosch Gmbh, NXP semiconductors, Setra Systems, Inc. (Fortive), ControlAir, Inc, and Kulite Semiconductor Products Inc.
The report offers a comprehensive analysis of the global pressure transducer market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market. Additionally, the report also focuses on the analysis of absolute pressure sensor and differential pressure transducer.
Impact of Covid-19 on the Pressure Transducer Industry
- The COVID-19 pandemic has had a severe effect on the pressure transducer market as well as several businesses such as chemicals, consumer electronics, healthcare, construction, automotive, and others
- The supply chain has been disrupted, and several industries have been closed temporarily or permanently as a result of the strict regulations that governments of various countries implemented
- The automobile industry has been severely affected by the worldwide economic decline, which has further led to a substantial fall in demand for and sales of pressure transducers
- Additionally, the strict border closures, shortage of labor, and lockdowns have caused a decline in the pressure transducer sensors in the automobile sector globally. These factors have had an impact on the pressure transducer market growth during the pandemic.
Key Findings of the Study
- Based on technology type, the piezoresistive strain gauge sub-segment emerged as the global leader in 2021 and capacitance sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
- Based on pressure type, the absolute pressure sub-segment emerged as the global leader in 2021 and gauge pressure sub-segment is anticipated to be the fastest growing sub-segment during the forecast period
- Based on end-use industry, the automotive sub-segment emerged as the global leader in 2021 and industrial sub-segment is predicted to show the fastest growth in the upcoming years
- Based on region, the North America market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
Companies Mentioned
- Panasonic Corporation
- Sensata Technologies, Inc.
- Abb Ltd
- Honeywell International Inc
- Validyne Engineering
- Robert Bosch GmbH
- Nxp Semiconductors
- Setra Systems, Inc. (Fortive)
- Controlair, Inc.
- Kulite Semiconductor Products Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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