The pressure sensor market is set to attain more than USD 11 billion over the forecast period (2015-2018).
— The pressure sensor market is set to attain more than USD 11 billion over the forecast period (2015-2018). Technological advances as well as its various applications for a wide range of industries are expected to ensure its continued growth. These said advances have managed to reduce the size of these sensors to 1 mm. Pressure sensors are used in exhaust gas recirculation systems, engine health management systems, and Tire Pressure Monitoring Systems (TPMS).
Increase in the number of automobiles is directly impacting the market. MEMS (Microelectromechanical systems) are a new avenue which can open up paths for industry growth. They are highly sensitive in nature and can be used repeatedly for a longer period. The global market is segmented by technologies, applications, and regions.
Resonant solid-state, electromagnetic, optical, piezoresistive, potentiometric, and capacitive are various technologies relied by pressure sensors. Piezoresistive sensors occupy the highest shares (28%) of the market. These sensors can achieve different pressure levels at low costs. Capacitive sensors are used in position sensing, motion sensing, and touch sensing. These sensors find use in smartphones and tablets.
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Oil & gas, utility, industrial, medical, automotive, and consumer electronics constitute as major market applications. Automotive sector is the largest applications, accounting for more than 25% market shares in 2015. Pressure sensors are used in critical units such as brakes, fuel, and transmission. They are used in airbags of vehicles to deploy at the time of collisions.
Regions comprise of North America, Latin America, Asia Pacific, Europe, and Middle East & Africa (MEA). North America has a majority of shares in the market on account of the presence of semiconductor companies in Canada and U.S. Growth of manufacturing & industrial sector in Brazil is assured to gain shares in Latin America. Asia Pacific will be accountable for more than 30% revenue shares of the market due to healthcare, automotive, and industrial sectors. Demand in South Korea, India, and China can spur regional market growth.
Prominent players in the pressure sensors market are STMicroelectronics N.V.; Delphi Corporation; Analog Devices; and Infineon Technologies. Players are using M&A’s (mergers and acquisitions) to sustain their market hold.
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