Pressure Transducer Market to Reach US$ 5.6 Billion by 2031: Industrial Automation Expanding Avenue, States TMR Study

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Aug 03, 2022, 07:30 ET

Firms unveiling new technologies in piezoresistive pressure transducers to capture profits from emerging revenue streams; massive demand for differential pressure transducers to generate revenues
R&D in multivariable pressure transducers to broaden avenues in pressure transducer market; opportunities in Asia Pacific to rise at promising pace during forecast period on back of rapid strides in Industry 4.0

WILMINGTON, Del., Aug. 3, 2022 /PRNewswire/ -- Continuous advancement in piezoresistive pressure transducers have helped firms unlock revenue streams in various industrial applications. Various types of pressure transducers have been commercialized to meet the needs of automation in various process industries including verticals such as oil & gas, automotive, and heavy engineering. The pressure transducer market size is projected to reach US$ 5.6 Bn by 2031 from value of US$ 4.0 Bn in 2021.

Among the various types of pressure transducers, the demand for absolute pressure measuring sensors is poised to rise in industrial safety applications. Some of the unique characteristics that make the type of pressure transducer more popular than others are remarkable accuracy and error-free functionality. The segment is estimate to reach value of US$ 1.85 Bn by 2031. Pressure transducer manufacturers are keen on reaping revenue gains by meeting rise in demand for products in the oil & gas industry.

Need for cutting-edge machine precision technologies has created sizable opportunities in the pressure transducer market during the forecast period of 2022–2031. Sensors used in automotive testing application are rising, invigorating the demand for automotive pressure transducers & transmitters. Firms in the market are capitalizing on the demand in the automotive industry by unveiling advanced sensors that can work in broad operating temperature range and possess remarkable media compatibility.

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Key Findings of Pressure Transducer Market Study

Abundant Utilization in Multiple Process Industries Steering Growth: The usage of pressure measurement and monitoring equipment has risen steadily in process industries. Pressure transducers are massively utilized in modern control circuits in wide range of industries on the back of trend of automation in process industries, thus underpinning the enormous commercialization avenue. These include food & beverages, pharmaceuticals, metals, petroleum, textiles, and petroleum.
Rise in Demand for Piezoresistive Pressure Transducers Underpins Massive Profitable Avenues: Need for pressure sensors capable of versatile use in end-use industries has led to uptick in adoption of piezoresistive pressure transducers. Of note, there is a massive demand for these in automotive applications, and will generate substantial revenue streams in the pressure transducer market in the coming years. Thin-film pressure sensors present a massive avenue, since these can work reliably in harsh operational conditions.
Adoption of Multivariable Pressure Transducers Offers Value-grab Opportunity: Multivariable pressure transducers present a vast profitable avenue for stakeholders in the pressure transducer market. Firms keen on tapping into the avenues are growing R&D on the technology. Multivariable pressure sensors combine the benefits of both absolute and differential pressure sensors, which is a key value proposition

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Pressure Transducer Market: Key Drivers

Rapid strides being witnessed in industrial automation are pivoting the market potential of sensors in process industries including the demand for pressure transducers/transmitter. Especially, advancement made in Industry 4.0 is expanding the avenue in the pressure transducer market
Automation of industrial processes are reshaping the production lines across industries. Economies are taking industrial health and safety concerns more seriously than ever. As a result, this has impelled industrial automation companies to improve pressure transducer technology.

Pressure Transducer Market: Regional Growth Dynamics

North America accounted for a key pressure transducer market share—amounting to 32.02%--in 2021. Europe has also been a lucrative regional market, propelled by continuous product developments by some of the globally prominent players.
Asia Pacific is witnessing massive demand in pressure transducer market. The opportunities are fueled by rapid pace of industrial automation particularly in automotive industry. A bulk of the demand comes from China, Japan, and India.

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Pressure Transducer Market Competition Landscape

The study found that the pressure transducer market is currently characterized by partial fragmentation in that several players contribute to the demand and supply of products.

Some of the key players in the market are:

MICRO SENSOR CO., LTD.
Setra Systems, Inc.
Omicron Sensing Pvt Ltd.
Kistler Instrument Corp.
IFM electronic GmbH
Endress + Hauser
Schneider Electric SE
Wika Group
TE Connectivity
Siemens AG
ABB Ltd.

Pressure Transducer Market Segmentation

Measurement Type

Absolute Pressure
Gauge Pressure
Differential Pressure
Multivariable Pressure

Technology

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

End-use Industry

Automotive
Aerospace
Oil & Gas
Food & Beverage
Chemical
Pharmaceuticals
Heavy Engineering
HVAC
Water & Wastewater Management
Others

End-use Industry, by Technology

Automotive

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Aerospace

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Oil & Gas

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Food & Beverage

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Chemical

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Pharmaceuticals

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Heavy Engineering

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

HVAC

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Water & Wastewater Management

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Others

Capacitive
Piezo resistive
Thin Film
Ceramic Thick Film
MEMS
Oil-filled
Others (Piezoelectric, IEPE / ICP)

Regions Covered

North America
Europe
Asia Pacific
Middle East & Africa
South America

Countries Covered

U.S.
Canada
Germany
U.K.
France
Japan
China
India
ASEAN
Brazil
Mexico
GCC
South Africa

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