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.
Sizing and Forecast
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 in the historic period can be attributed to stringent environmental regulations, increased use of medical devices, the need for enhanced safety, increased demand for reliable equipment in the industry, and 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 growth in the forecast period can be attributed to the rise of electric and autonomous vehicles, the need for remote monitoring and diagnostics, increasing adoption of renewable energy sources, ongoing innovations in healthcare, economic growth, and industrialization in emerging markets. Major trends in the forecast period include the increasing integration of fluid pressure sensors with IoT devices and smart technologies, automotive industry evolution, ongoing advancements in micro-electro-mechanical systems (MEMS) technology, increasing focus on energy efficiency and sustainability, industrial automation, and industry 4.0.
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Segmentation & Regional Insights
The fluid pressure sensors market covered in this report is segmented –
1) By Sensor Type: Piezoresistive, Capacitive, Electromagnetic, Resonant, Optical
2) By Fluid Type: Liquid, Gas
3) By Technology: Analog, Digital
4) By Application: Automotive, Industrial, Healthcare, Consumer Electronics, Aerospace And Defense, Oil And Gas, Other Applications
5) By End User: Original Equipment Manufacturer (OEM), Aftermarket
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.
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Major Driver Impacting Market Growth
The increasing industrial automation is expected to propel the growth of the fluid pressure sensor market going forward. Industrial automation refers to the use of control systems, such as computers or robots, and information technologies to handle different processes and machinery in an industry to replace human intervention. The rising adoption of industrial automation is due to technological innovation, economic imperatives, competitive pressures, and the need for operational agility and efficiency in a rapidly evolving global marketplace. Fluid pressure sensors are essential components in industrial automation systems, enabling precise control, monitoring, safety assurance, and efficiency optimization in a wide range of industrial applications. For instance, in May 2023, according to the International Federation of Robotics, a Germany-based non-profit organization, industrial robot installations in the manufacturing sector climbed by 12% overall in 2022 to reach 41,624 units. The automotive industry, consisting of US, Canadian, and Mexican businesses, was the top adopter with 20,391 installed units, a 30% rise from 2021. Therefore, increasing industrial automation is driving the growth of the fluid pressure sensors market.
Key Industry Players
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
The fluid pressure sensors market report table of contents includes:
1. Executive Summary
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32. Global Fluid Pressure Sensors Market Competitive Benchmarking
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