Free Newsletter
Register for our Free Newsletters
Newsletter
Zones
Associations, Services and Universities
LeftNav
Automotive Industry
LeftNav
Design & Manufacturing Services
LeftNav
Education, Training and Professional Services
LeftNav
Electrical Components
LeftNav
Electronic Components
LeftNav
Energy
LeftNav
Fastening and Joining
LeftNav
Laboratory Equipment
LeftNav
Machine Building & Automation
LeftNav
Maintenance, Repair and Overhaul (MRO)
LeftNav
Materials & Processes
LeftNav
Materials Processing and Machine Tools
LeftNav
Mechanical Components
LeftNav
Packaging
LeftNav
View All
Other Carouselweb publications
Carousel Web
Defense File
New Materials
Pro Health Zone
Pro Manufacturing Zone
Pro Security Zone
Web Lec
 
 
News

Global pressure sensor market driven by the large amount of usage within the automotive sector

Companiesandmarkets : 05 November, 2012  (Special Report)
The pressure sensors market was valued at a $5.11 billion in 2011 and has been forecast to increase at a compound annual growth rate (CAGR) of 6.3% over the next five years, to reach a market value of $7.34 billion by 2017.

The demand for reliable, high performance and low cost pressure sensors is constantly increasing, leading to the development of new technologies like Micro Technology and Nano Technology offering opportunities through miniaturisation, low power consumption, and mass production, according to this new Global Pressure Sensors Report.

A pressure sensor measures pressure, typically of gases or liquids. Pressure is an expression of the force required to stop a fluid from expanding, and is usually stated in terms of force per unit area.

Pressure sensors can vary drastically in technology, design, performance, application suitability and cost. A conservative estimate would be that there may be over 50 technologies and at least 300 companies making pressure sensors worldwide.

The major applications of pressure sensors are within the petrochemical industry, automotive industry, consumer electronics industry, process industries, and healthcare. The largest application segment for pressure sensors is the automotive segment due to their use in tyre pressure monitoring systems, engine management, and automatic transmission.

Key factors acting as drivers for the pressure sensor market include vehicle production in the emerging markets, government regulations, gradual reduction in size, and the fast growth of various Asian economies.

In the modern world, the need for pressure sensors is evolving and continuously growing. Today's pressure sensors mainly utilise digital technology; which means they are better in efficiency and sensing performance. Pressure sensors have a significant place in different industry verticals.

In terms of volume the unit shipment for pressure sensors was 8.7 billion units in the year 2011 and is expected to reach 16.37 billion units by 2017, at an estimated CAGR of 11.3% over the five year period.

Bookmark and Share
 
Home I Editor's Blog I News by Zone I News by Date I News by Category I Special Reports I Directory I Events I Advertise I Submit Your News I About Us I Guides
 
   © 2012 ProManufacturingZone.com
Netgains Logo