Increase in demand for reliable sensors, low cost along with high performance feature is anticipated to fuel the growth of global air pressure sensor market.Air pressure sensor is a measuring converter of the pressure of a gas or liquid into pneumatic, electric, and other kinds of output signal. It is also used for measuring pressure drops and rarefaction. The demand for air pressure sensors market is rapidly increasing as they are widely used across various applications such as petrochemicals, building, shipbuilding, aircraft, and medical sector, among many others. In building, medical and automotive sector, MEMS-based pressure sensors (technology) are widely used. Additionally, on account of industry shift from analog to digital, air pressure sensors have become smarter in terms of sensing and efficiency performance. Advancements in ICT technology as well as Nanotechnology applications are emerging as new trends for the global air pressure sensor market.
Air Pressure Sensor Market: Drivers & Restraints
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Improved sensitivity in pressure sensors has strongly contributed to the demand of the global air pressure sensor market. Fast growth in Asia-Pacific region, increasing governmental regulation and vehicle production are the key factors driving the growth in the global air pressure sensor market. Advancement in technology is opening new doors to the growth of pressure sensors for medical and automotive applications. In coming years, it is anticipated that penetration of MEMS technology is going to lead the overall global air pressure sensor market. However, higher cost of the investment for production, could act as a major restraint in the global air pressure sensor market.
Air Pressure Sensor Market: Segmentation
On the basis of technology, the global air pressure sensor market is segmented as:
- Others (Resonant solid-state)
On the basis of applications the global air pressure sensor market is segmented as:
- Automotive Pressure Sensors
- Medical Sector
- Industrial Sector
- Consumer Electronics
- Others (Refineries, Chemical plant, Pulp & paper, etc)
Air Pressure Sensor Market: Region-wise Outlook
The global air pressure sensor market is expected to register a favourable growth for the forecast period, 2015?2025. On the basis of region, Asia Pacific, Japan and Latin America are expected to be the growth engines of air pressure sensor market in the near future. Asia-Pacific is anticipated to dominate the global air pressure sensor market. The key countries mentioned in the Asia-Pacific region are India, South Korea, and China as an outcome of growth in application sectors. Also, the region is expected to generate higher revenue as compared to North America (is practically maturing). Japan also contributes to the global air pressure sensor market remarkably. In Latin America, Brazil is expected to be the largest opportunity in terms of revenue of the air pressure sensor market. The remaining regions are expected to grow at a steady rate over the forecast period.
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Air Pressure Sensor Market: Key Players
Some of the key market participants in global air pressure sensor market are ABB Ltd., Analog Devices, Inc., Analog Devices, Inc., Analog Devices, Inc., Emerson Electric, General Electric, Freescale Semiconductor, Honeywell International, Robert Bosch GmbH and others.