Europe’s pressure sensors market is projected to reach USD 2.09 billion by 2022, growing at a CAGR of 7.01% over the period 2017-2022. Technological advancements have brought versatility and reliability to the pressure sensors. High growth in MEMS and piezoelectric pressure technologies are expected to ensure deeper penetration of pressure sensors in the European market.
Pressure transmitters are also incorporated with additional functionalities such as temperature monitoring, detection of leaks, and providing feedback to the control system. With the end-users looking for better asset management, such combination sensing systems will find a greater demand in the future, acting as a key driver for the lucrative growth of the pressure sensors market.
The pressure sensors market is dominated by piezoresistive and capacitive sensors as they are heavily used in automotive, medical, petrochemical, and oil & gas industries. Optical and resonant solid-state sensors are projected to exhibit high growth over the forecast period due to their applications in hazardous environments. Technological advancements and nanotechnology applications are the future opportunities for the pressure sensors market.
Europe’s pressure sensors market is segmented on the basis of technology and end-user industry. Europe accounts for 26% of the global pressure sensors market. This report gives a detailed study of Porter’s five forces analysis, market segments, and current market trends. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. The report also covers the market landscape of these players, which includes the key growth strategies and competition analysis.
The report also considers key trends that will impact the industry. Some of the leading suppliers of pressure sensors mentioned in the report are:
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