PUBLISHER: The Business Research Company | PRODUCT CODE: 1531961
PUBLISHER: The Business Research Company | PRODUCT CODE: 1531961
Fluid pressure sensors are devices designed to measure the pressure exerted by fluids (liquids or gases) within a closed system or environment. These sensors convert mechanical pressure into an electrical signal that can be interpreted by instruments or control systems, making them essential in industries where fluid pressure monitoring and control are critical.
The main types of fluid pressure sensors include piezoresistive, capacitive, electromagnetic, resonant, and optical sensors. Piezoresistive sensors measure pressure by detecting changes in electrical resistance of materials under mechanical stress. Fluid pressure sensors can be used for both liquids and gases, employing either analog or digital technologies. Their applications span various industries, including automotive, industrial, healthcare, consumer electronics, aerospace and defense, and oil and gas. They serve different end-users, such as original equipment manufacturers (OEM) and the aftermarket.
The fluid pressure sensors market research report is one of a series of new reports from The Business Research Company that provides fluid pressure sensors market statistics, including fluid pressure sensors industry global market size, regional shares, competitors with a fluid pressure sensors market share, detailed fluid pressure sensors market segments, market trends, and opportunities, and any further data you may need to thrive in the fluid pressure sensors industry. This fluid pressure sensors research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fluid pressure sensors market size has grown rapidly in recent years. It will grow from $16.76 billion in 2023 to $18.46 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth observed in the historic period can be attributed to several factors, including stringent environmental regulations, increased use of medical devices, the need for enhanced safety, a rising demand for reliable equipment in various industries, and an increased demand for efficient pressure sensors.
The fluid pressure sensors market size is expected to see rapid growth in the next few years. It will grow to $27.42 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The expected growth in the forecast period can be attributed to several factors, including the rise of electric and autonomous vehicles, the need for remote monitoring and diagnostics, increasing adoption of renewable energy sources, ongoing innovations in healthcare, and economic growth and industrialization in emerging markets. Major trends anticipated during this period include the increasing integration of fluid pressure sensors with IoT devices and smart technologies, the evolution of the automotive industry, ongoing advancements in micro-electro-mechanical systems (MEMS) technology, a growing focus on energy efficiency and sustainability, industrial automation, and the progression of Industry 4.0.
The increasing industrial automation is anticipated to drive the growth of the fluid pressure sensor market. Industrial automation involves using control systems, such as computers or robots, and information technologies to manage various processes and machinery in industries, thereby reducing human intervention. The rising adoption of industrial automation is fueled by technological innovation, economic imperatives, competitive pressures, and the need for operational agility and efficiency in a rapidly evolving global marketplace. Fluid pressure sensors are crucial in industrial automation systems, enabling precise control, monitoring, safety assurance, and efficiency optimization across numerous industrial applications. For example, according to the International Federation of Robotics, industrial robot installations in the manufacturing sector increased by 12% in 2022, reaching 41,624 units. The automotive industry, consisting of businesses in the US, Canada, and Mexico, led the adoption with 20,391 installed units, marking a 30% rise from 2021. Thus, increasing industrial automation is driving the growth of the fluid pressure sensor market.
Leading companies in the fluid pressure sensors market are focusing on developing innovative products, such as smart pressure monitoring sensors for water utilities, to enhance their market position. Smart pressure monitoring sensors for water utilities use advanced sensors and data analytics to continuously monitor and manage water pressure throughout a distribution network. This technology helps water utilities optimize system performance, ensure consistent water pressure, detect leaks and issues early, and improve overall water management efficiency. For instance, in January 2024, Sensata Technologies, Inc., a US-based manufacturer of sensors and electronic controls, launched the 129CP series digital water pressure sensor. This innovative sensor offers high precision and real-time monitoring capabilities, providing accurate pressure readings for efficient water distribution. It features a robust, durable construction suitable for harsh environments, and its compact design allows for easy integration into existing systems. The sensor also offers advanced data connectivity options, facilitating seamless communication with IoT networks and enabling predictive maintenance to prevent leaks and optimize performance.
In November 2023, Millar Inc., a US-based medical device company, acquired Sentron AG for an undisclosed amount. This acquisition aims to expand Millar's market presence in the sensor technology sector, particularly in pressure sensors used in medical and industrial applications. Sentron AG, a Netherlands-based high-tech company, specializes in designing and manufacturing bridge pressure sensors.
Major companies operating in the fluid pressure sensors market are Robert Bosch GmbH, Siemens AG, Schneider Electric SE, Honeywell International Inc., Texas Instruments, TE Connectivity, Emerson Electric Company, NXP Semiconductors N.V, Amphenol Corporation, Analog Devices Inc., Rockwell Automation Inc., Omron Corporation, Sensata Technologies Holding N.V., Keller Group, Yokogawa Electric Corporation, Pepperl+Fuchs GmbH, Baumer Group, Sick AG, Sensirion AG, Gems Sensors Inc., Druck GmbH
North America was the largest region in the fluid pressure sensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fluid pressure sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the fluid pressure sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fluid pressure sensors market consists of sales of piezoresistive pressure sensors, capacitive pressure sensors, flush pressure sensors, sealed pressure sensors, and digital pressure sensors. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fluid Pressure Sensors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fluid pressure sensors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fluid pressure sensors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fluid pressure sensors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.