Resurgence in Automotive Manufacturing to Drive the Global Pressure Sensors Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) April 10, 2015 -- Follow us on LinkedIn – The global market for pressure sensors is witnessing steady growth driven by the growing importance of gas and liquid pressure measurement in process applications. Major end-use industries for pressure sensors include chemical, petrochemical, automotive, process, electronics and healthcare. Key product variables for success in the marketplace include accuracy, reliability, and cost effectiveness, as customers across all end-use sectors seek cost effective products with superior performance capabilities. The growth in the market in the coming years will be driven by technology advancements in MEMS based pressure sensors and robust demand from developing markets.
In the automotive sector, pressure sensors find use in engine management, automatic transmission and tire pressure monitoring applications. Pressure sensors are commonly used in light vehicles for smooth engine functioning and safety while driving. In passenger cars, the sensors are used for monitoring oil and coolant pressure, and for achieving maximum engine performance by determining barometric air pressure (BAP) and manifold intake air pressure (MAP) for the engine control unit. Automotive engineering designs are being recalibrated to reduce vehicle emissions and in this regard, pressure sensors are finding increased use in evaporative control systems. Given its widespread use in automobiles, the steady rise in demand for and production of automobiles worldwide bodes well for the automotive sensors market. Significant growth in car sales, particularly in China and India, is expected to fuel demand for automotive pressure sensors. In addition, stringent safety regulations legislated in developed regions like North America and Europe are giving the market regulatory driven demand stability.
One of the most noteworthy innovations in product technology is the introduction of micro electromechanical systems (MEMS) and micromachined ultra-low-pressure sensor. MEMS pressure sensors are especially forecast to witness robust growth, supported by their increasing use in consumer electronics and mobile devices, guided by advantages such as higher performance, accurate measurement, and small & lightweight form factor. MEMS based pressure sensors are already finding huge applications in the HVAC sector. Also, given the use of micro and nanotechnology, these sensors are now more compact and relatively inexpensive, and are high on performance and reliability parameters.
As stated by the new market research report on Pressure Sensors, Asia-Pacific represents the largest as well as the fastest growing market worldwide with a CAGR of 9.4% over the analysis period. Sales of industrial and automotive pressure sensors in the region are expected to benefit from increasing investments in new manufacturing plant establishments, plant capacity expansions, replacement and upgrade of plant assets/equipment, and rising automobile ownership rates. Developing industrial sectors, particularly in countries such as China, India, Korea, Taiwan and Indonesia are expected to add momentum to market growth. With China being a major automotive manufacturing hub, and with Korea and Taiwan leading from the front in consumer electronics, Asia-Pacific will remain major market for pressure sensors in the coming years.
Major players in the global marketplace include ABB Ltd., Ametek Inc., Analog Devices, Ashcroft Inc., AVL, Emerson Electric Company, Fuji Electric Ltd. Bosch Sensortec, Continental AG, Delphi Corporation , DENSO Corporation, ELMOS Semiconductor AG , Endress+Hauser Consult AG, EPCOS AG, First Sensor, Freescale Semiconductor Inc., Fuji Electric Ltd., General Electric, Honeywell International Inc., Infineon Technologies AG, Kavlico Corporation, Measurement Specialties Inc., Melexis Microelectronic Integrated Systems N.V, Micronas Group, Nagano Keiki, OMRON Corporation, Panasonic Corporation, Process Measurement & Controls, Inc., Sanken Electric Co., Ltd., Schneider Electric SE, Sensata Technologies Inc., Siemens AG, United Technologies Corp STMicroelectronics NV, and TT Electronics Plc, United Technologies Corp and Yokogawa Electric Corporation, among others.
The research report titled “Pressure Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World (Middle East which includes Iran, Iraq, Israel, Kuwait, Saudi Arabia, Syria and The UAE, and Africa).
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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