The worldwide pressure sensors market is estimated to undergo sluggish growth due to the efficiency of pressure sensors in several industries. The global industry was valued at USD over 5, 75 million in 2012.Incorporation of Micro-electro –mechanical systems technology is expected to develop the application scope of the industry. The demand for high-cost, reliable sensors and low-cost sensors have increased, which has widened nanotechnology and microtechnology growth scope. They basically offer opportunities like miniaturization, low power consumption and mass production. MEMS pressure sensors are gradually being integrated in consumer electronics equipment like tablets and smartphones which is expected to augment the industry demand.
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On the basis of technology, the overall industry has been divided into piezoresistive, capacitive, resonant solid state, electromagnetic and optical sensors. Electromagnetic and piezoresistive sensors led the market in 2013 and are expected to be the major revenue generators over the coming years. Furthermore, resonant solid state and optical sensors are anticipated to exhibit maximum growth over the forecast period. Optical sensors are mainly used in perilous remote environments like areas having maximum radioactive emission and high temperature zones.
Based on application, the worldwide market is fragmented into oil& gas, automotive, medical, electronics and industrial .Pressure sensors measures pressure of essential components such as transmission, oil, nitrous and brake etc in automobiles. Additionally, they are also used in exhaust gas recirculation pressure measurement, tire pressure monitoring systems and barometric pressure measurement. Pressure sensors market in medical sector is anticipated to enhance the health monitoring gadgets like catheters, air concentration, implanted cardiac measurement, sleep apnea detection and respirometers.
Asia Pacific led the market in 2013, rising demand from countries such as India and China and growth in application sectors is expected to drive Asia Pacific pressure sensors market. Rapid industrialization in Brazil is anticipated to be the major driving factor of RoW market. Furthermore, North America pressure sensors market is reaching maturity, and augmented demand across several manufacturing markets is likely to drive growth.
Leading market players operating in pressure sensors market are General Electric, STMielectronics, Analog Devoces, ABB ltd, General Electric and Emerson Electric Company Delphi Corporation.
Information Source: Grand View Research