The global pressure sensors market size is expected to reach USD 23.66 million by 2028 according to a new study by Polaris Market Research. The report “Pressure Sensors Market Share, Size, Trends, Industry Analysis Report By Type (Absolute, Differential, Gauge, Others); By End-Use; By Technology; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
The expanding global automotive industry and increasing demand from the healthcare sector are driving the demand for the product. The increasing use of the product in consumer electronics such as television, washing machines, refrigerators, and favorable government regulations regarding the product supports industry growth.
Medical breathing equipment uses the product that assesses the flow of oxygen and the amounts of oxygen given to the patient. The rising need for medical breathing devices as a result of the COVID-19 outbreak has boosted the demand for the product.
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The Asia Pacific is anticipated to hold the largest revenue share over the forecast period. The continuous evolution of manufacturing companies and growing automobile industries is the key factor responsible for growth.
The major players in this industry include General Electric, ABB Ltd., Infineon Technologies, Emerson Electric Company, Robert Bosch GmbH, Schneider Electric, Siemens AG, NXP Semiconductors N.V., Omron Corporation, and Honeywell International. These companies launch new products and collaborate with other industry leaders to innovate and launch new products to meet consumers’ increasing needs and requirements.
Polaris Market Research has segmented the pressure sensors market report on the basis of type, technology, end-use, and region:
Pressure Sensors, Type Outlook (Revenue – USD Billion, 2016 – 2028)
Pressure Sensors, Technology Outlook (Revenue – USD Billion, 2016 – 2028)
- Resonant Solid-State
Pressure Sensors, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)
- Consumer Electronics
- Oil & Gas
Pressure Sensors, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa