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Growing Automotive Production and Advancements in Sensor Technology Drives the Global Pressure Sensors Market, According to New Report by Global Industry Analysts, Inc.

March 18, 2013

GIA announces the release of a comprehensive global report on Pressure Sensors markets. Global market for Pressure Sensors is projected to reach US$11.2 billion by 2018, primarily driven by the growing use of the technology in a wide range of industries, particularly automobile.

San Jose, California (PRWEB) March 18, 2013

Follow us on LinkedIn — As a device used to measure pressure of gases and liquids, pressure sensors are growing in importance for controlling and monitoring pressure in a wide range of applications. In modern manufacturing and process set up, the need for pressure sensors is growing and evolving significantly, as seen by its increasing adoption in chemical, petrochemical, automotive, and process industries, in addition to electronics and healthcare segments. 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, in the backdrop of widespread budget cuts. Growth in the pressure sensors market over the next few years will be primarily driven by expanding applications in a range of industries from automotive, oil & gas, petrochemical, food & beverage, to pharmaceutical and pulp & paper. Technology advancements, particularly the success of MEMS based pressure sensors and robust demand from developing markets also augurs well for the market.

Automotive industry represents one of the most prolific end-use markets for pressure sensors. Pressure sensors are commonly used in light vehicles for smooth engine functioning and for ensuring cleaner air and enhancing safety while driving. In passenger cars, such 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. As automotive manufacturers focus on achieving better emission control, pressure sensors, which serve as a critical element of evaporative control system that safeguards the environment from harmful hydrocarbon emissions from fuel tank, are growing in prominence. Apart from this, growing government focus on curbing vehicular emissions, and rising consumer demand for value added technologies that feature multiple inputs/outputs, is also spurring demand for pressure sensors in automotive sector.

Introduction of new systems in traditional internal combustion engine vehicles and even hybrid vehicles, which demands highly complex control systems, is driving increased adoption of pressure sensors in the automotive space. In particular, MEMS pressure sensors are expected to experience strong growth opportunities in this sector, particularly with high-end vehicles requiring a significant number of MEMS pressure sensors. The healthy increase in automobile production is expected to lead to increased demand for pressure sensors, as higher number of cars produced translates into increased OEM use of these measuring tools. In addition, the rising average age of cars on road will also benefit demand, as it helps expand opportunities for these sensors in the replacement/aftermarket.

The most noticeable innovations in product technology over the years include introduction of micro electromechanical systems (MEMS) and micromachined ultra-low-pressure sensor. With the advent of digital technology, today´s pressure sensors are more efficient, which makes them successful in a range of industry segments. Also, given the use of micro and nanotechnology, the sensors are now more compact and relatively inexpensive, and are high on performance and reliability parameters. These advanced technologies also help them consume lesser power and enable mass production. MEMS pressure sensors especially are expected to register phenomenal growth. Key drivers include its use in consumer electronics and mobile devices keeping in view the advantages in terms of performance, output, repeatability, batch production, levels of measurement accuracy, weight, form factor, and reliability. Even in applications as diverse as robotic surgical procedures in healthcare industry and oil-well drilling in the oil and gas industry, MEMS based pressure sensors are being preferred, owing to their smaller size.

As stated by the new market research report on Pressure Sensors, Asia-Pacific constitutes the largest regional market worldwide. The region also represents the fastest growing market with sales poised to grow at a CAGR of about 8.5% over the analysis period. Increasing investments in the manufacturing sector in terms of new plant establishment, expansion, upgrade of industrial equipment, and increase automobile ownership rates, in this region are expected to positively benefit both industrial and automotive pressure sensors. Process control markets in China, India and other Asia-Pacific countries continue to grow at an encouraging pace and the yet untapped potential encourages an optimistic outlook for pressure sensors in this region.

Major players in the global marketplace include ABB Ltd., Bosch Sensortec, Continental AG, Delphi Corporation , DENSO Corporation, ELMOS Semiconductor AG , Endress+Hauser Consult AG, EPCOS AG, First Sensor, Freescale Semiconductor Inc., General Electric, Goodrich Corporation, Honeywell International Inc., Infineon Technologies AG, Measurement Specialties Inc., Melexis Microelectronic Integrated Systems N.V, Process Measurement & Controls, Inc., Sensata Technologies Inc., STMicroelectronics NV, and TT Electronics Plc, 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 and Rest of Europe), Asia-Pacific, Latin America and Rest of World.

For more details about this comprehensive market research report, please visit —

http://www.strategyr.com/Pressure_Sensors_Market_Report.asp

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 more than 1300 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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Global Industry Analysts, Inc.

Telephone: 408-528-9966

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Email: press(at)StrategyR(dot)com

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For the original version on PRWeb visit: http://www.prweb.com/releases/prwebpressure_sensors/MEMS_micromachine_smart/prweb10540856.htm


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