Global Air Pressure Sensors Market Size Forecast 2024 - 2033
13 Dec, 2024
What Is The Definition Of The Global Air Pressure Sensors Market?
Air pressure sensors are devices used to measure the pressure of gases or liquids. These sensors convert pressure into an analog electrical signal, which can then be interpreted and used by various systems. They are essential in numerous applications across different industries, providing critical data for monitoring, control, and safety purposes.
Air Pressure Sensors Global Market Report 2024 provides data on the global air pressure sensors market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The air pressure sensors market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Air Pressure Sensors Market Size Expected To Expand, And At What Annual Growth Rate?
The air pressure sensors market has seen strong growth in recent years. It is expected to grow from $17.17 billion in 2023 to $18.43 billion in 2024, reflecting a CAGR of 7.4%. The historic growth is attributed to advancements in automotive technology, increased awareness of safety and efficiency, rising industrial automation, the enhanced accuracy of GPS systems, and the demand for more precise monitoring in the automotive and industrial sectors. In the coming years, the market is expected to grow strongly, reaching $24.62 billion by 2028 at a CAGR of 7.5%. Growth in the forecast period can be attributed to the rise of electric vehicles, growth in autonomous vehicles, increasing reliance on data analytics, the demand for connected cars, urbanization, and traffic congestion. Key trends include AI and machine learning integration, a shift toward sustainable mobility, advancements in sensor fusion technology, personalized vehicle experiences, and enhanced sensor accuracy.
What Are The Key Drivers Fueling Growth In The Air Pressure Sensors Market?
The expansion of the automotive sector is expected to drive the growth of the air pressure sensors market. The automotive sector is growing due to improved economic conditions, government regulations, consumer preferences, and innovation. Air pressure sensors are used in vehicles to monitor tire pressure, engine performance, and airbag deployment systems, thereby enhancing safety and efficiency. For instance, the European Automobile Manufacturers Association reported that global motor vehicle production reached 85.4 million units in 2022, reflecting a 5.7% increase from 2021. This growth in the automotive sector is contributing to the rise of the air pressure sensors market.
Get Your Free Sample of the Global Air Pressure Sensors Market ReportWhat Are The Principal Market Segments In The Global Air Pressure Sensors Industry?
The air pressure sensors market covered in this report is segmented –
1) By Type: Absolute Air Pressure Sensor, Differential Air Pressure Sensor, Gauge Air Pressure Sensor
2) By Sensor Type: Wired Sensors, Wireless Sensors
3) By Technology: Piezoresistive, Capacitive, Electromagnetic, Resonant Solid-State, Optical, Other Technologies
4) By End-User: Automotive, Aerospace And Defense, Manufacturing, Medical, Other End-Users
Which Emerging Market Trends Are Altering The Air Pressure Sensors Sector?
Companies in the air pressure sensors market are increasingly focused on creating innovative products like barometric air pressure sensors to meet the rising demand for precise and reliable pressure measurements. Barometric air pressure sensors convert atmospheric pressure into an electrical signal, which can be used by various systems for monitoring and control. For example, in June 2023, Infineon Technologies AG, a Germany-based semiconductor manufacturer, launched two new XENSIV barometric air pressure sensors. These sensors are designed for engine management and pneumatic seat systems, offering accurate and reliable measurements to improve performance and efficiency in automotive applications. Infineon’s expertise in sensor technology is expected to enhance engine management and pneumatic seat systems, improving functionality and user experience.
What Is The Leading Region In The Air Pressure Sensors Market?
Asia-Pacific was the largest region in the air pressure sensors market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air pressure sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.