The global pressure transducer market revenue was around US$ 8.2 billion in 2022 and is estimated to reach US$ 21.4 billion by 2031, growing at a compound annual growth rate (CAGR) of 11.29% during the forecast period from 2023 to 2031.
A pressure transducer is a machine that develops an electric signal owing to applied pressure. Pressure transducers utilize piezoresistive technology, with the transition in pressure the piezoresistive element measures the electrical resistance. A pressure transducer usually detects, measures, and transmits data which assists in monitoring the machine's performance.
Market Driving Factors
Increasing demand for industrial automation and optimal pressure type utilization is estimated to boost the market growth. A pressure transducer is very necessary to have the proper level of process control and maintain & monitor process parameters in industrial automation. In addition, industrial automation can enhance product quality, reduce operational price, and enhance productivity, and address industrial health & security problems across a broad range of process industries. Furthermore, the discrete and process industries have raised their efforts to implement best practices to decrease waste and enhance plant efficiency.
High demand for pressure transducers from process industries drives market growth. In the process industry, pressure measurement and monitoring equipment (transmitters/ transducers) are broadly utilized for modern control circuits. Additionally, they measure safe levels in liquid tanks, monitor process flows, control loops, and monitor filtration systems in various processes in various industries such as chemicals, food & beverage, pharmaceuticals, ceramics, base metals, plastics, textiles, wood products, and paper products.
Intense pricing pressure on major key players is estimated to limit the market growth.
Regional Analysis
North America dominated the market in terms of revenue growth. This can be mainly attributed to the automobile industry, which utilized pressure sensors for some applications such as Exhaust Gas Recirculation (EGR) systems and Tire Pressure Monitoring Systems (TPMS). Furthermore, pressure transducer demand has grown due to the government rules demanding pressure sensors in automobiles and safety regulations, which are predicted to boost the market growth in the region.
Asia-Pacific is estimated to dominate the market in terms of the largest shares. This is primarily owing to the presence of major key players, technical developments, and the growth of process industries. Furthermore, an increase in the adoption of industrial automation and optimum utilization to achieve high-performance efficiencies to acquire optimization and decrease performance losses in the automated sector is estimated to drive market growth.
Segmentation Insights
Technology Insight
The piezoresistive strain gauge segment is estimated to dominate the market in terms of the fastest rate. This is due to the surge in government protection regulations, increasing vehicle demand in developing countries, and nanotechnology applications. Moreover, another emerging trend among pressure transducer makers is the inclusion of a wide range of products in piezoresistive strain gauges.
Pressure Type Insight
The gauge pressure segment is predicted to dominate the market in terms of growth rate. This is primarily due to the usage of absolute pressure transducers for the measurement of gas or air pressure in the automobile sector. Furthermore, the requirement to manufacture secure vehicles in the automotive sector creates opportunities in the market.
End Use Insight
The automotive segment dominates the market in terms of revenue. This is mainly due to the pressure transducer utilized in electric cars to prevent the doors from catching fingers. In addition, several pressure transducer companies worldwide are launching and developing new pressure systems and sensors to measure the dynamic pressure system in moving automobiles. Furthermore, pressure transducers are also utilized in engine management systems to monitor intake and optimize fuel delivery and manifold pressure. This can assist enhance fuel efficiency and decrease emissions. These benefits are propelling the product demand in the automotive segment.
The industrial segment is predicted to dominate the market in terms of revenue. This is mainly owing to the surging demand for passenger vehicles in emerging markets due to the immediate economic development, and increasing adoption of cutting-edge automotive technologies such as Anti-skid Braking System (ABS), and Tire Pressure Monitoring System (TPMS).
Prominent Companies
Segmentation Outline
The global pressure transducer market segmentation focuses on the Technology, Pressure Type, End Use, and Region.
By Technology
By Pressure Type
By End Use
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL PRESSURE TRANSDUCER MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: PRESSURE TRANSDUCER MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL PRESSURE TRANSDUCER MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL PRESSURE TRANSDUCER MARKET, BY TECHNOLOGY
5.1 OVERVIEW
5.2 PIEZORESISTIVE STRAIN GAUGE
5.3 CAPACITANCE
5.4 OTHERS
6 GLOBAL PRESSURE TRANSDUCER MARKET, BY PRESSURE TYPE
6.1 OVERVIEW
6.2 ABSOLUTE PRESSURE
6.3 GAUGE PRESSURE
6.4 DIFFERENTIAL PRESSURE
7 GLOBAL PRESSURE TRANSDUCER MARKET, BY END USE
7.1 OVERVIEW
7.2 AUTOMOTIVE
7.3 CONSUMER ELECTRONICS
7.4 INDUSTRIAL
7.5 HEALTHCARE
7.6 OIL AND GAS
7.7 OTHERS
8 GLOBAL PRESSURE TRANSDUCER MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3.1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL PRESSURE TRANSDUCER MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 ROBERT BOSCH GMBH
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 KULITE SEMICONDUCTOR PRODUCTS INC
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 HONEYWELL INTERNATIONAL INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 SETRA SYSTEMS INC.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 SENSATA TECHNOLOGIES INC.
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 PANASONIC CORPORATION
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 VALIDYNE ENGINEERING
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 ABB LTD
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 CONTROLAIR INC.
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 NXP SEMICONDUCTORS
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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