Overview and Scope
A pressure transducer is an instrument that detects fluid pressure and indicates the force the fluid exerts on surfaces in contact with it. Pressure transducers are utilized in a wide range of control and monitoring applications, such as flow, airspeed, level, pump systems, and altitude monitoring.
Sizing and Forecast
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..
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Segmentation & Regional Insights
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
North America was the largest region in the pressure transducer market in 2023. The regions covered in the pressure transducer 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 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.
Key Industry Players
Major companies operating in the pressure transducer market report are Panasonic Holdings Corporation, Sensata Technologies Incorporated, ABB Limited, Honeywell International Incorporated, Validyne Engineering, Robert Bosch GmbH, NXP Semiconductors, Setra Systems Incorporated, ControlAir Incorporated, Kulite Semiconductor Products Incorporated, TE Connectivity Ltd., Endress+Hauser AG, Schneider Electric SE, Yokogawa Electric Corporation, Kistler Instrument Corporation, Emerson Electric Co., WIKA Instruments LP, Spectris PLC, Hitec Products Inc., LCM Systems Limited, Zemic Group, Bosch Sensortec GmbH, All Sensors Corporation, Thermo Fisher Scientific Inc., Rockwell Automation Inc., Siemens Building Technologies AG, Omron Corporation, First Sensor AG, Gems Sensors Inc., Kavlico Corporation, Ashcroft Inc. .
The pressure transducer market report table of contents includes:
1. Executive Summary
2. Pressure Transducer Market Characteristics
3. Pressure Transducer Market Trends And Strategies
4. Pressure Transducer Market – Macro Economic Scenario
5. Global Pressure Transducer Market Size and Growth
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31. Global Pressure Transducer Market Competitive Benchmarking
32. Global Pressure Transducer Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Pressure Transducer Market
34. Pressure Transducer Market Future Outlook and Potential Analysis
35. Appendix
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