Pressure Transducer Global Market Expected to Grow $11.59 Billion at a Surprising CAGR of 10.3% By 2028 | ABB Limited, Validyne Engineering, Robert Bosch GmbH, NXP Semiconductors, Setra Systems Incorporated

The Pressure Transducer by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Pressure Transducer, the pressure transducer market size has grown rapidly in recent years. It will grow from $7.08 billion in 2023 to $7.83 billion in 2024 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to industrial automation, expansion of oil and gas exploration, healthcare applications, aviation and aerospace development, water and wastewater management, environmental monitoring.

The pressure transducer market size is expected to see rapid growth in the next few years. It will grow to $11.59 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to smart cities development, precision agriculture practices, integration with wearable health devices, focus on water conservation, expansion of renewable energy. Major trends in the forecast period include industry 4.0 adoption, adoption of mems technology, integration of wireless pressure transducers, emphasis on industry-specific customization, advancements in sensing technologies.

The growth of the automobile sector is expected to propel the growth of the pressure transducer market. The automotive industry refers to the companies linked with the manufacturing, selling, and maintenance of motor vehicles. The pressure transducer is used in the automobile industry as an electronic pressure sensor to monitor the pressure of the vehicle’s vital components, such as engine oil, gearbox, and transmission oil, and hydraulic oil in the braking system, cooling system, and fuel systems. For instance, in July 2022, according to the European Automobile Manufacturers Association, a group of the automobile industry in the European Union, in 2021, automobile trade generated an annual trade of $81.7 billion (€79.5 billion) for the European Union, an increase of 4.6%. Therefore, the growth of the automobile sector will drive the pressure transducer market.

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The pressure transducer market covered in this report is segmented –
1) By Pressure: Absolute Pressure, Gauge Pressure, Differential Pressure
2) By Technology: Capacitive, Piezo Resistive, Thin Film, Ceramic Thick Film, Mems, Oil-Filled
3) By End-User: Automotive, Healthcare, Consumer Electronics, Oil and Gas

Technological innovation is the key trend gaining popularity in the pressure transducer market. Major companies operating in the pressure transducer market are focused on developing technologically advanced products to sustain their market position. For instance, Xidas Inc., a US-based tech company announced the industry’s first smart microfluidics in-line pressure sensor with near-zero dead volume. The “Pascal” family of sensors from Xidas are low voltage, fully digital, have the on-board computation, and provide real in-line fluid sensing with less than 0.1 microliters of dead volume. They are designed for in-line monitoring of ultra-small amounts of fluid. Wearable medication delivery solutions, mobile diagnostics devices, in-line process monitors, tiny catheters, and high throughput biological systems can all benefit from Xidas’ small volume sensors.

The pressure transducer market report table of contents includes:
1. Executive Summary