Pressure Transducer Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Pressure Transducer Market is segmented By Technology (Piezoresistive Strain Gauge, Capacitance), By Pressure (Absolute Pressure, Guage Pressure, Diff....
Pressure Transducer Market Size
Market Size in USD
CAGR11.3%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 11.3% |
| Market Concentration | Medium |
| Major Players | ABB Ltd., Honeywell International Inc., Robert Bosch GmbH, Panasonic Corporation, Sensata Technologies, Inc. |
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Pressure Transducer Market Analysis
The Global Pressure Transducer Market is estimated to be valued at USD 10.2 Bn in 2024 and is expected to reach USD 29.8 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.3% from 2024 to 2031. Pressure transducers are widely used in various industries such as automotive, medical, and oil & gas. The growing adoption across these sectors is expected to drive the demand during the forecast period. The market is witnessing increased adoption of digital pressure transducers which offer higher accuracy and repeatability compared to analog transducers. Additionally, the incorporation of MEMS technology has led to development of compact designs and multi-parameter sensing capabilities. This is expected to supplement the pressure transducer market trend towards miniaturization and multiple functionalities. The emergence of Industry 4.0 is also boosting investments in automation, contributing to the demand for pressure sensing components.