Pressure Sensors Market

Stringent regulations for automotive are driving the market growth

Market CAGR for pressure sensors is driven by the growing government regulations, especially for the automotive sector. Legislation named the Transportation Recall Enhancement, Accountability and Documentation Act in the US has made establishing a tire pressure monitoring system compulsory in all vehicles. TPMS sensors calculate tire temperature and air pressure and alert drivers within 20 minutes of the finding of under-inflation of the tires. The US administration also requires all commercial vehicles to have passenger and side airbags installed with pressure sensors, which drive the market.

Additionally, the increasing Internet of Things (IoT) adoption is another major factor spearheading the market's growth. Pressure sensors are transforming the development of smart cities, smart homes and buildings, and smart factories. Hence, increasing IoT-connected devices is anticipated to fuel the market's growth. Moreover, increasing industrial automation and the growing demand for miniaturized consumer devices, including wearables and IoT-connected devices, among others, across regions are among the significant factors driving the pressure sensors market revenue.

The rising adoption of pressure sensors in various automotive applications creates ample opportunities for the market. Many important systems in a car rely on pressure sensors to measure and track critical specifications, which has become an important factor in making roads safer, reducing pollution, and improving the driving experience. Pressure sensors can discover early faults in hydraulic brakes, clean exhaust filters automatically, examine the pressure of critical fluids, trigger airbags faster, and enhance security. Increasing demand for autonomous and Electric Vehicles (EVs) across the globe creates a high demand for pressure sensors.

Hence manufacturers are introducing advanced pressure sensor solutions for the market.

For instance, in October 2021, Renesas Electronics, a Japanese semiconductor manufacturing company, introduced the RAA2S425x pressure sensor device. This new device will provide sensor-specific correction and accurate amplification of signals in automotive Battery Electric Vehicles (BEVs), Cell Electric Vehicles (FCEVs), Plug-In Hybrid Electric Vehicles (PHEVs), and fuel- for pressure-sensing braking, HVAC systems, and transmission. This device has digital and analog functionality that reduces system Bill-of-Materials (BOM) and production costs. Digital calibration decreases assembly costs by eliminating the need for external devices or lasers to trim sensing elements.

The ongoing expansion in industrial automation is a significant driver for the Global Pressure Sensors Market Industry. As industries strive for increased efficiency and reduced operational costs, the adoption of pressure sensors in various applications such as process control and monitoring is becoming more prevalent. The market is expected to witness a compound annual growth rate of 5.35% from 2025 to 2035, indicating a strong demand for these sensors in automated systems. Industries such as oil and gas, chemical processing, and manufacturing are increasingly relying on pressure sensors to optimize operations, thereby contributing to the overall growth of the Global Pressure Sensors Market Industry.

The automotive sector is experiencing a notable surge in demand for pressure sensors, driven by the increasing emphasis on safety and efficiency. In 2024, the Global Pressure Sensors Market Industry is projected to reach 8.8 USD Billion, with pressure sensors playing a crucial role in monitoring tire pressure, engine performance, and emissions control. This trend is likely to continue as automotive manufacturers increasingly adopt advanced technologies to enhance vehicle performance and safety features. The integration of pressure sensors in electric vehicles further amplifies their importance, suggesting a robust growth trajectory for the Global Pressure Sensors Market Industry in the coming years.

Stringent environmental regulations and standards are influencing the Global Pressure Sensors Market Industry significantly. Governments worldwide are implementing policies aimed at reducing emissions and promoting energy efficiency, which necessitates the use of pressure sensors in various applications. For example, pressure sensors are crucial in monitoring emissions in automotive and industrial processes, ensuring compliance with environmental standards. As regulatory frameworks become more rigorous, industries are likely to increase their reliance on pressure sensors to meet these requirements, thereby driving growth in the Global Pressure Sensors Market Industry.

The healthcare sector is increasingly utilizing pressure sensors for various applications, including patient monitoring and medical devices. The Global Pressure Sensors Market Industry is benefiting from this trend as hospitals and healthcare providers seek to enhance patient care through advanced monitoring technologies. For instance, pressure sensors are integral to devices such as ventilators and infusion pumps, ensuring accurate measurements and improved patient outcomes. As the healthcare industry continues to innovate, the demand for reliable and precise pressure sensors is likely to grow, further propelling the Global Pressure Sensors Market Industry towards its projected value of 15.6 USD Billion by 2035.

Technological advancements in sensor technology are driving innovation within the Global Pressure Sensors Market Industry. The development of smart pressure sensors, which offer enhanced accuracy and connectivity features, is transforming various sectors, including automotive, aerospace, and industrial applications. These sensors are increasingly integrated with IoT platforms, enabling real-time data analysis and improved decision-making processes. As industries recognize the value of data-driven insights, the demand for advanced pressure sensors is expected to rise. This trend suggests a promising future for the Global Pressure Sensors Market Industry, as companies invest in cutting-edge technologies to stay competitive.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American pressure sensors market will dominate, owing to the large-scale production of electronic components and rising investments in R&D. The increasing demand for consumer electronics, including tablets, wearable devices, and smartphones, will boost the market growth in this region. Further, the US pressure sensors market held the largest market share, and the Canadian pressure sensors market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Pressure Sensors Market SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's pressure sensors market accounts for the second-largest market share owing to the established automotive industry and growing demand for consumer electronics. Further, the German pressure sensors market held the largest market share, and the UK pressure sensors market was the fastest-growing market in the European region.

The Asia-Pacific pressure sensors market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increasing demand for pressure sensors in industries such as oil & gas, petrochemical, and medical, accelerating the market growth in this region. Moreover, China’s pressure sensors market held the largest market share, and the Indian pressure sensors market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the pressure sensors market grow even more. Market participants are also undertaking multiple strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the pressure sensors industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global pressure sensors industry to benefit clients and increase the market sector. Major players in the pressure sensors market, including ABB (Switzerland), Emerson Electric Co. (US), Honeywell International Inc. (US), Amphenol (US), Sensata Technologies, Inc. (US), and others, are attempting to increase market demand by investing in research and development operations.

ABB Ltd is a provider of electrification and automation technologies and solutions. The company delivers products, systems, solutions and services related to electrification products, motion and industrial automation. Its solutions integrate engineering expertise and software, and its offerings harness power reliability, enhance industrial productivity and enhance energy efficiency. ABB sells its products via a direct sales force and third-party channel partners, including distributors, installers, wholesalers, machine builders, OEMs, and system integrators. In March 2020, ABB opened a distribution center in Arizona, US, to expand its presence in the western US.

The center offers a whole range of the company's electrical products.

Honeywell International Inc is an engineering and technology company. The firm invents and manufactures technologies that address challenges in numerous sectors, including energy, security, safety, productivity and world urbanization. Honeywell offers energy-efficient products and solutions, specialty chemicals, process technologies, electronic and advanced materials, sensing, productivity, safety and security technologies, and spare components. It also provides management and technical services, repair, overhaul, and maintenance services. Honeywell serves consumers in the aerospace, refining and petrochemicals, buildings and industries in various regions.

In June 2022, Honeywell and Bi-Directional Amplifiers (BDA) that cover the full public safety spectrum, enabling scalable solutions to support first responder emergency radio connectivity in even the most difficult environments