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The pressure sensor market growth will fuel, technological innovations in Micro-Electro-Mechanical Systems (MEMS) such as capacitive MEMS pressure sensor and rising developments in smart home appliances. Get sample copy of this research report @ – PowerPoint PPT presentation

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Title: seobhushan (27)


1
Pressure Sensor Market is projected to reach CAGR
7 by 2027
2
Key Insights from Pressure Sensor Market
  • Technological innovations in Micro-Electro-Mechani
    cal Systems (MEMS) such as capacitive MEMS
    pressure sensor and rising developments in smart
    home appliances will fuel the pressure sensor
    market growth. Capacitive pressure sensors based
    on MEMS technology offer low power consumption
    and a smaller footprint which drive its use in
    consumer electronics devices. Meanwhile, smart
    home appliances such as air conditioners,
    refrigerators, etc., are incorporating digital
    pressure sensor to control and regulate
    temperature parameters.
  • The pressure sensor market is projected to
    surpass USD 13.5 billion by 2027. The market has
    been severely impacted by the COVID-19 outbreak.
    Strict lockdowns imposed by governments have
    resulted in trade bans along with temporary
    shutdowns of consumer electronics and automotive
    OEMs which has resulted in declining sales
    revenue for sensor manufacturers. Additionally,
    shortage of raw materials owing to the dependency
    on countries like China has hindered businesses.

3
Regional Insights in Pressure Sensor Market
  • Considering the regional landscape, the global
    pressure sensors market is expected to gain grip
    across regions like Europe, the U.S., Canada,
    China among others post pandemic. Of these, the
    Europe market could grow at over 6.5 CAGR
    through 2021-2027. This regional market growth is
    majorly attributed to the presence of big
    automotive giants in the region like Daimler AG,
    BMW Group, PSA Group, and Audi who are constantly
    emphasizing on increasing their production
    facilities in the region. New technological
    innovations in the advanced automotive safety
    systems such as ADAS and self-driving cars will
    contribute to the expansion of market in the
    coming years.
  • Many oil gas producers are highlighting new
    findings and exploration of crude oil reserves.
    For instance, in December 2020, Saudi Aramco
    discovered four new oil gas fields in Saudi
    Arabia, which are expected to produce 4,452
    barrels of crude oil per day. Such new
    explorations and findings are expected to boost
    the demand for pressure sensors in the estimated
    timeframe.

4

Latest Research Report On Pressure Sensor Market
_at_ https//www.gminsights.com/industry-analysis/pre
ssure-sensor-market Request for a sample of
this research report _at_ https//www.gminsights.com/
request-sample/detail/1732
5
Major Companies in Pressure Sensor Market
  • Honeywell International Inc.
  • Emerson Electric Co.
  • Sensata Technologies, Inc.
  • TE Connectivity
  • ifm electronic GmbH
  • Rockwell Automation, Inc.

6
Industry Coverage

7
Stay In Touch Website www.gminsights.com Soci
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