The Global Pressure Transducer Market size is expected to reach $14.5 billion by 2028, rising at a market growth of 10.4% CAGR during the forecast period.
A sensor that transforms physical pressure into an electrical signal is known as a pressure transducer. They can be used to gauge pressure in both gases and liquids. According to their specifications, pressure transducers, which are another name for pressure transducers, are appropriate for a variety of applications in various fields.
The interior diaphragm of the pressure transducer is attached to strain gauges, which are used in most pressure transducers. The diaphragm will deflect as pressure is applied through the pressure port, which causes the strain gauges to compress and change the output signal. For the pressure transducer to provide an accurate pressure reading, the strain gauges' deformation must be directly proportional to the force being applied. Pressure transducers accurately detect pressure in PSI or Bar.
An instrument known as a pressure transducer transforms mechanical pressure into an electrical signal. A pressure transducer is made up of pressure-sensitive components that aid in the detection, measurement, and monitoring of the input pressure as well as the conversion of that pressure into an electrical output signal. Depending on the size, capacity, measuring technique, sensing technology, and output requirements, there are various types of pressure transducers.
The pressure transducer sector is only one of the many markets that have been severely impacted by the COVID-19 pandemic. The strict controls that some governments imposed have disrupted the supply chain and forced the closure of numerous industries. Additionally, the market for pressure transducers in the automotive industry has decreased globally due to severe border controls and lockdowns. These elements have influenced how the market has grown throughout the crisis. However, due to acceptance and developments in Microelectromechanical systems (MEMS) technology, the post-COVID-19 pandemic impact on the pressure transducer industry is anticipated to increase steadily.
In industrial automation, it is crucial to have the proper amount of process control, as well as monitoring and maintaining process parameters. Industrial automation can address difficulties with industrial health & safety in a variety of process industries while also enhancing productivity, lowering operational costs, and improving product quality. The discrete and process sectors have stepped up their efforts to put best practices into place to cut waste and boost plant productivity. A pressure transducer continuously or periodically measures crucial factors including pressure, flow, and level.
The vehicle has sensors for occupant identification, battery control, and pollution control, all of which have seen recent growth. In the automobile industry, sensors are used to monitor the pressure inside pipes or chambers with many entrances as well as the outside air pressure that is sucked in from the outside. It is anticipated that several factors, including low automotive penetration, rising disposable incomes, and a resulting increase in vehicle adoption, will propel this industry's revenue growth in the APAC region and be significant in the years to come in countries with economies like India and China.
Due to intense competition in the pressure transducer market and an increase in the number of sensor manufacturers, which forces rapid innovation in new portables and consumer products, price erosion hurts the sales growth and increased shipment of pressure transducers in automated intelligent controls and wearable electronics. Although the shipment of these sensors has expanded due to their broad use in wearable electronics and automated intelligent controls, price erosion has severely slowed the expansion in sales.
On the basis of Pressure Type, the Pressure Transducer Market is divided into Absolute, Gauge, and Differential. The absolute segment garnered the largest revenue share in the pressure transducer market in 2021. An absolute pressure sensor measures air or gas pressure in absolute terms by comparing the target pressure to the known pressure of an absolute vacuum. These sensors are frequently used in the automotive industry to measure biometric pressure and provide engine load information to the powertrain control module.
Based on the Technology, the Pressure Transducer Market is segmented into Piezoresistive Strain Gauge, Capacitance, and Others. The capacitance segment witnessed a significant revenue share in the pressure transducer market in 2021. Due to the availability of miniature capacitance type transducers made possible by MEMS (micro-electromechanical systems) technology, these devices are more widely used than before. Due to downsizing, capacitive pressure sensors are now less expensive to produce.
By End Use, the Pressure Transducer Market is classified into Automotive, Consumer Electronics, Industrial, Healthcare, Oil and Gas, and Others. The automotive segment procured the highest revenue share in the pressure transducer market in 2021. Growth in the automotive sub-segment is anticipated to be fueled by rising consumer demand for passenger cars in developing nations as a result of rapid economic development, as well as increased uptake of cutting-edge automotive technologies like tire pressure monitoring systems (TPMS), anti-skid braking systems (ABS), electronic stability control (ESC), and airbags in the market for passenger cars.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 7.5 Billion |
| Market size forecast in 2028 | USD 14.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 10.4% from 2022 to 2028 |
| Number of Pages | 229 |
| Number of Tables | 379 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Pressure Type, Technology, End Use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the Pressure Transducer Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segments acquired a substantial revenue share in the pressure transducer market in 2021. The automobile sector, which uses pressure sensors for a range of applications such as Tire Pressure Monitoring systems (TPMS) and Exhaust Gas Recirculation (EGR) systems is the key driver of the pressure sensor market. Government laws requiring pressure sensors in autos have raised the need for pressure transducers.
Free Valuable Insights: Global Pressure Transducer Market size to reach USD 14.5 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Panasonic Corporation, Sensata Technologies Holdings PLC, ABB Group, Honeywell International Inc, Robert Bosch Gmbh, NXP Semiconductors N.V., TE Connectivity, Endress+Hauser AG, Setra Systems, Inc. (Fortive Corporation) and Validyne Engineering.
By Pressure Type
By Technology
By End Use
By Geography
The Pressure Transducer Market size is projected to reach USD 14.5 billion by 2028.
Increasing need for industrial automation and optimal pressure type utilization are driving the market in coming years, however, Major players' intense pricing pressure will constrain market growth restraints the growth of the market.
Panasonic Corporation, Sensata Technologies Holdings PLC, ABB Group, Honeywell International Inc, Robert Bosch Gmbh, NXP Semiconductors N.V., TE Connectivity, Endress+Hauser AG, Setra Systems, Inc. (Fortive Corporation) and Validyne Engineering.
The expected CAGR of the Pressure Transducer Market is 10.4% from 2022 to 2028.
The Piezoresistive Strain Gauge market is leading the Global Pressure Transducer Market by Technology in 2021; thereby, achieving a market value of $6.7 billion by 2028.
The Asia Pacific market is leading the Global Pressure Transducer Market by Region in 2021; thereby, achieving a market value of $5,331.8 million by 2028.
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