Global Pressure Sensors Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2020

Albany, USA, 2018-May-25 — /EPR Network/ —Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Pressure Sensors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years. Furthermore, the product segmentation, drivers, barriers, key geographical segments, and the competitive scenario of the Global Pressure Sensors Market have been elaborated upon in the research report.

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Global pressure sensors market was valued at USD 6.53 billion in 2014, growing at a CAGR of 6.2% from 2014 to 2020. Pressure sensors are typically used for measuring pressure of gas or liquids. These sensors usually act as a transducer and generate electrical signals as a function of the pressure imposed on them. With technological advancements in several industry verticals such as automotive, healthcare, and oil and gas, the applications and functionalities of pressure sensors is evolving continuously. Modern day pressure sensors utilize digital technology for providing better sensing performance and efficiency.

The global pressure sensors market is segmented by region into North America, Europe, Asia-Pacific (APAC) and Rest of the World (RoW). The pressure sensors market is primarily driven by increasing demand of pressure sensors in automotive applications. In addition, government regulations mandating the use of pressure sensors in automobiles is further contributing to the growth in demand for this market. The use of technologies such as MEMS is also influencing the growth in demand for pressure sensors and associated components.

Geographically, Asia Pacific led the pressure sensors market in 2014 and the region is expected to continue its dominance in 2020. The region’s dominance is due to increasing production of motor vehicles in countries such as Japan, South Korea, China, and India. Moreover, rapid level of industrialization in this region is also contributing to the growth of pressure sensors market. North America and Europe followed Asia Pacific in the global pressure sensors market collectively account for more than half of the global market revenue share.

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The pressure sensors market is segmented on the basis of sensor technology into piezoresistive pressure sensors, electromagnetic pressure sensors, capacitive pressure sensors, resonant solid state pressure sensors, optical pressure sensors and others. Demand for piezoresistive pressure sensors is attributed to their wide range of applications in automotive and medical sectors. Piezoresistive pressure sensors segment is closely followed by electromagnetic and capacitive pressure sensors.

The pressure sensors market is further segmented by applications into automotive, oil and gas, consumer electronics, medical, industrial and others. Automotive applications of pressure sensors held the largest revenue share in 2013. With the increase in production of motor vehicles across the globe, the demand for automotive pressure sensors has grown substantially. Consumer electronics is analyzed to be the fastest growing application segment for pressure sensors and is expected to attain a significant growth in the recent future.

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