The pressure sensors market is estimated to be valued at USD 22.92 Bn in 2024 and is expected to reach USD 30.92 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031. Growth of the pressure sensors market can be attributed to wider industrial applications of pressure sensors across different industry verticals including automotive, processing industries, oil and gas, consumer electronics, and healthcare.

Market Driver - Advancements in Automotive Industry

The automotive industry has seen tremendous growth and advancements in the last few decades. Automakers are now focusing on developing autonomous and electric vehicles which incorporate advanced driver-assistance systems. Pressure sensors play a vital role in airbag deployment systems. As autonomous features are improving road safety, airbags are becoming even more crucial. This is increasing the demand for precise and reliable pressure sensors within airbag control units.

The shift towards less complex pumping systems and more electronics indicates that future vehicles will have expanded use of intelligent subsystems. Advancements like brake-by-wire and steer-by-wire replace mechanical components with electro-hydraulic systems. These technologies are completely reliant on pressure sensor feedback.

As a result, leading automakers are collaborating with pressure sensor manufacturers to develop new solutions for emerging application areas. The innovations in autonomous driving and electric mobility are revolutionizing the in-vehicle pressure sensing landscape tremendously. This accelerates the industry's progression and expands opportunities for pressure sensors market players.

Market Driver - Growing Adoption of IoT and Industry 4.0

Trends of Industrial Internet of Things (IIoT) and Industry 4.0 are transforming industrial automation globally. They promote fully integrated smart factories with advanced machine-to-machine communication. This increases operational efficiency drastically by driving real-time process optimization and flexible mass customization. Pressure sensors play an invaluable role in enabling the data collection and decision making capabilities of Industry 4.0. Thereby, this factor remains a key driver for the pressure sensors market.

With interconnected assets delivering live production updates, pressures related to processes, inventory levels, and asset performance are critical parameters. Smart factories also optimize resource utilization based on real-time pressure readings from various manufacturing stages, logistical systems like conveyor belts and warehousing equipment.

The ongoing trend of minimizing human intervention makes autonomous quality assurance equally important. Integrating pressure sensors assists automated quality checks of products and packaging. As industries embrace innovative concepts like cloud computing and cyber-physical systems wholeheartedly, dependence on networked pressure sensors keeps escalating. Their role has become integral to the success of Industry 4.0 revolution.

Market Challenge - Limited accuracy in harsh environments

One of the key challenges faced by the pressure sensors market is providing accurate sensing capabilities in harsh industrial environments. Pressure sensors often struggle to maintain calibration when exposed to high levels of heat, humidity, vibration, or dirt and dust. Harsh manufacturing conditions can cause mechanical stress and degradation of sensing materials over time.

Developing robust sensor designs that can withstand challenging process conditions remains an issue, especially for applications involving extreme temperatures or corrosive media. Protecting the sensitive electronic components from environmental factors without compromising response times or form factor also poses design difficulties.

Addressing reliability concerns through advanced sealing and encapsulation methods is important for the pressure sensors market to better penetrate industries like oil & gas, chemicals, and power generation. Limited accuracy in harsh settings continues to restrict the applicability of pressure sensors for certain critical process monitoring applications with zero-tolerance for measurement errors.

Market Opportunity - Expansion in Industrial Automation Applications

The growth of industrial automation provides a major opportunity for expansion in the pressure sensors market. Automation is being increasingly adopted across industries to improve production efficiencies, product quality, flexibility and safety. As industrial processes become more data-driven, there is rising demand for integrated sensor technologies that can monitor process parameters in real-time.

Applications such as robotic process automation, remote monitoring of oil & gas pipelines, predictive maintenance in manufacturing plants offer scope for incorporating more pressure transmitters, switches, and transducers. With demand for sensors with advanced communication protocols to facilitate integration into Industry 4.0 architectures, pressure sensor vendors can explore opportunities in developing IoT-enabled products.

The need for multi-parameter sensing assemblies combined with increasing use of sensor fusion also provides prospects for suppliers to offer customized solutions. Overall, rapid proliferation of digital technologies in industrial processes creates a conducive environment for pressure sensors market players to expand their presence across mechanical and process industries worldwide.

Focus on new product development and innovation: Innovation plays a key role in the pressure sensors market as technologies are constantly advancing. For example, Bosch debuted a new pressure sensor for HVAC systems in commercial vehicles in 2020. Its compact design and enhanced accuracy improved system efficiency.

Strategic partnerships and mergers & acquisitions: Companies partner or acquire other players to gain access to new technologies, products and markets. For instance, in 2021, TE Connectivity acquired the pressure sensor business of First Sensor, strengthening its position in automotive and industrial pressure sensing.

Focus on applications in growing industries: Players closely monitor high growth or new application areas and customize offerings to gain early mover advantage. For example, sensing solutions for electric vehicles is a focus area. In 2018, Infineon introduced a pressure sensor family for HVAC duties in EVs, helping automakers to optimize battery usage.

Insights, By Product: Absolute Pressure Sensors’ Absolute Accuracy Drives Demand

In terms of product, absolute pressure sensors contribute 44.3% share of the pressure sensors market owing to their high accuracy and versatility. Absolute pressure sensors are capable of measuring pressure relative to a complete vacuum, making them ideal for applications that require sensing pressure changes independent of atmospheric conditions. They are commonly used in weather monitoring equipment, altitude sensors for aircraft, and various industrial processes that must operate under varying atmospheric pressures.

Their ability to provide a true pressure level regardless of altitude or weather makes them extremely valuable for applications involving air pressure control and compensation. As industries like aviation, oil & gas exploration, and weather monitoring continue advancing, demand for sensors with the highest level of accuracy under diverse operating conditions will further drive the adoption of absolute pressure sensors.

Insights, By Type: Wired Connectivity Remains Reliable

In terms of type, wired sensors contribute 85.7% share of the pressure sensors market due to its reliable, low-latency connectivity. While wireless pressure sensors offer mobility advantages, wired sensors dominate critical applications that require fast, stable data transmission. Process automation equipment, factory machinery, and aircraft all employ wired pressure sensing due to concerns over signal interference, data errors from battery drain, and latency issues that could compromise safety. Wired sensors connect directly to monitoring and control systems via copper or optical fibers, assuring real-time pressure readings are delivered without risk of loss or delay.

Additionally, wired connections are less complex than wireless ones and have benefited from optimizations over decades of use, helping lower maintenance costs. As industries continue modernizing facilities with wired sensor networks, this segment will remain a safe choice for applications requiring critical, sustained pressure monitoring.

Insights, By Technology: Piezoresistive Technology Enables Accuracy and Miniaturization

In terms of technology, piezoresistive contributes the highest share of the pressure sensors market due to its ability to provide highly accurate and customizable measurements in a compact design. Piezoresistive sensors function by changing electrical resistance when pressure is applied to a silicon or gallium arsenide substrate. This enables them to precisely detect minute pressure variances without additional mechanisms.

Most importantly, piezoresistive sensors can be batch manufactured through microfabrication techniques which have driven down costs. This has allowed extensive use of piezoresistive sensing in automotive, medical, and low-pressure applications. Their miniaturized size is ideal for catheter tips, implants, and placements in tight engine compartments.

More broadly, piezoresistive sensors’ design flexibility supports customized sensor arrays and multi-point measurement modules. As sensing requirements trend towards higher resolution, distributed placement and system integration, piezoresistive technologies are poised to continue leading the pressure sensors market across numerous industries.

• Use of pressure sensors in automotive for tire pressure monitoring, airbag deployment, and engine systems.
• Integration in healthcare devices like blood pressure monitors and ventilators.
• Asia-Pacific holds a 39% market share in 2023, dominating the global pressure sensors market.
• Wired sensors accounted for 86% share of the pressure sensors market in 2023.
• Absolute pressure sensors held the largest product segment at 44% share in the pressure sensors market in 2023.

The major players operating in the pressure sensors market include Robert Bosch GmbH, ABB Ltd., Siemens AG, AlphaSense, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., Membrapor AG, Nemoto Kyorindo Co., Ltd., and GfG Europe Ltd.

• In January 2024, Melexis introduced the MLX90830, a miniaturized MEMS pressure sensor featuring their patented Triphibian™ technology. This sensor is capable of robustly measuring both gas and liquid media pressures ranging from 2 to 70 bar.
• In October 2023, researchers at the Indian Institute of Technology Delhi (IIT Delhi) developed a scalable, wearable pressure sensor designed to assist in analyzing gait patterns and identifying postural deformities. This innovative sensor is constructed from a nanocomposite material that combines a light-sensitive polymer with piezoelectric nanoparticles.
• In September 2023, Baker Hughes introduced Druck hydrogen-rated pressure sensors designed for enhanced stability and durability in challenging environments. These sensors are suitable for applications such as gas turbines, hydrogen production via electrolysis, and hydrogen refueling stations.

• By Product
  • Absolute Pressure Sensors
  • Differential Pressure Sensors
  • Gauge Pressure Sensors
• By Type
  • Wired
  • Wireless
• By Technology
  • Piezoresistive
  • Electromagnetic
  • Capacitive
  • Resonant Solid-State
  • Optical
  • Others
• By Application
  • Automotive
  • Oil & Gas
  • Consumer Electronics
  • Medical
  • Industrial
  • Others