The fluid pressure sensors market has rapidly grown, with its size expected to increase from $16.76 billion in 2023 to $18.46 billion in 2024, demonstrating a CAGR of 10.1%. This growth is driven by stringent environmental regulations, heightened use of medical devices, and demand for reliable industrial equipment. The market is projected to reach $27.42 billion by 2028, with a CAGR of 10.4%. Future growth will be supported by the rise of electric and autonomous vehicles, remote monitoring needs, and ongoing innovations in healthcare. Key trends include the integration of fluid pressure sensors with IoT devices, advancements in micro-electro-mechanical systems (MEMS) technology, a focus on energy efficiency, and developments in industrial automation.
Major Driver In The Fluid Pressure Sensors Market
The rise in industrial automation is anticipated to drive demand for fluid pressure sensors. As industries increasingly utilize control systems and technologies to manage processes, the need for precision and efficiency becomes paramount. Fluid pressure sensors are critical in automation systems, ensuring optimal operation. The International Federation of Robotics noted a 12% increase in industrial robot installations, with 41,624 units deployed in 2022. The fluid pressure sensor market was valued at approximately $2.5 billion in 2023, expected to grow to $3 billion in 2024, and reach $4 billion by 2028.
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Fluid Pressure Sensors Market Competitive Landscape
Robert Bosch GmbH, Siemens AG, Schneider Electric SE, Honeywell International Inc., Texas Instruments, TE Connectivity, Emerson Electric Company, NXP Semiconductors N.V, Amphenol Corporation, Analog Devices Inc., Rockwell Automation Inc., Omron Corporation, Sensata Technologies Holding N.V., Keller Group, Yokogawa Electric Corporation, Pepperl+Fuchs GmbH, Baumer Group, Sick AG, Sensirion AG, Gems Sensors Inc., Druck GmbH
Key Fluid Pressure Sensors Market Trend
The fluid pressure sensors market is focusing on smart pressure monitoring technologies for water utilities. Sensata Technologies launched the 129CP series digital water pressure sensor in January 2024, offering real-time monitoring and high precision for effective water management. Its robust design ensures compatibility with existing systems while facilitating IoT connectivity for predictive maintenance, optimizing performance across water distribution networks.
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Fluid Pressure Sensors Market Segmentation
The fluid pressure sensors market covered in this report is segmented –
1) By Sensor Type: Piezoresistive, Capacitive, Electromagnetic, Resonant, Optical
2) By Fluid Type: Liquid, Gas
3) By Technology: Analog, Digital
4) By Application: Automotive, Industrial, Healthcare, Consumer Electronics, Aerospace And Defense, Oil And Gas, Other Applications
5) By End User: Original Equipment Manufacturer (OEM), Aftermarket
By Geography:The regions covered in the fluid pressure sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the fluid pressure sensors market in 2023.
The Fluid Pressure Sensors Global Market Report 2024 furnishes information about the global fluid pressure sensors market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
