Pressure Sensor Market: Size, Share, Growth, Analysis & Demand 2018 to 2023

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Bharat Book Bureau Provides the Trending Market Research Report on “Pressure Sensor Market – Forecasts from 2018 to 2023″ ( under Technology & Media category. The global pressure sensor market is highly competitive due to a huge consumer base and the presence of well-diversified international, regional and local players.

The global Pressure Sensor Market is projected to grow at a CAGR of 7.33% during the forecast period to reach a total market size of US$4.136 billion by 2023 from US$2.706 billion in 2017. Pressure sensors are devices which are equipped with the pressure-sensitive element to measure the pressure and convert the value to an electronic signal as an output. The use of pressure sensor depends on the application and the material on which the pressure is to be measured.

Competitive landscape of the pressure sensor market is promoting investment and strategic partnerships between firms. These sensors have applications in across different industries such as energy and power, manufacturing, and automotive among various others. These sensors are increasingly being deployed in the automotive industry for engine optimization, emission control, and safety enhancement. Moreover, they are also used in the manufacturing industry for leak detection, flow monitoring, gas detection, pneumatic controls and many others. The sensors help the manufacturers in reducing the manufacturing cost by assisting them to avoid untimely failures which can cause excessive downtime. Furthermore, rising environmental and safety concerns will further contribute to the growing demand for these sensors by the automotive industry. However, pricing pressure on companies due to intense competition and huge expenditure on R&D activities will restrain the demand for pressure sensors during the forecast period.

Geographically, the global Pressure Sensor market is segmented as North America, South America, Europe, Middle East and Africa, and the Asia Pacific. The Asia Pacific held a significant market share in 2017 and is expected to grow at a considerable rate over the next five years. The expanding consumer electronics, manufacturing, and automotive industries will drive the demand for pressure sensors in this region. Mounting environmental concerns will drive the demand for these sensors in the North American and European regions. Moreover, increasing expenditure on research and development in the field of IOT in these regions due to robust technological infrastructure will boost the demand for pressure sensors over the next five years. South America, and the Middle East and Africa sensor markets will grow at a modest rate over the forecast period.

The global pressure sensor market is highly competitive due to a huge consumer base and the presence of well-diversified international, regional and local players. There is a growing need for adoption of existing technology and further investment on technological upgrades to increase market share, which is attracting more players in the market. Intense competition in the market is paving the way for mergers & acquisition and other strategies by companies to enhance their market share.

Some of the major players discussed in this report are Omron Corporation, NXP Semiconductors, Emerson Electric Company, Robert Bosch GmbH, ABB Group and Denso Corporation among others.

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The global Pressure Sensor market has been segmented by application, product, and geography.

By type:
* Absolute pressure measurement
* Differential pressure measurement
* Gauge pressure measurement

By technology:
* Piezoresistive Pressure Sensor
* Electromagnetic Pressure Sensor
* Optical Pressure Sensor
* Resonant Solid State Pressure Sensor
* Capacitive Pressure Sensor

By End Users:
* Energy and Power
* Oil and Gas
* Healthcare
* Manufacturing
* Consumer Electronics
* Automotive
* Others

By geography:
* North America
* U.S.
* Canada
* Mexico
* Others

South America
* Brazil
* Argentina
* Others

* France
* Germany
* Italy
* United Kingdom
* Others

Middle East and Africa
* Israel
* United Arab Emirates
* South Africa
* Others

Asia Pacific
* China
* India
* South Korea
* Japan
* Others

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