The global pressure sensors market is projected to reach USD 7.74 billion by 2018 growing at a CAGR of 6.14% over the period 2014-2020. The pressure sensors market is driven by the increasing demand from the automotive segment that uses pressure sensors for various applications such as TPMS and exhaust gas pressure of EGR System. Government regulations mandating the use of pressure sensors in automobiles have also contributed to the growth in demand for pressure sensors.
The global pressure sensors market is dominated by piezoresistive and capacitive sensors as they are heavily used in automotive, medical, petrochemical, oil and 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 pressure sensor market.
The global pressure sensors market is segmented on the basis of technology, end-user industry, and geography. Consumer electronics application segment is analyzed to record the fastest growth in this market. Asia Pacific led the pressure sensors market in 2014 and is expected to continue its dominance over the forecast period. North America and Europe followed Asia Pacific in the global pressure sensors market and together accounted for more than half of the global market share.
This report describes a detailed study of the 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. It 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 proximity sensors mentioned in the report are:
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