Global Optical pressure sensor Market Research Report
- Report Code: OP 1000
- Publish Date: Upcoming
The pressure sensors market is expected to witness substantial growth, due to their use across a wide range of applications. Currently, the market is dominated by piezoresistive and capacitive sensors; however, the optical sensing technology segment is projected grow in the near future, due to its applications in hazardous environments. It is estimated at $0.6 billion in 2014, which is 6.7% of the overall global pressure sensor market. The market for optical sensing technology is expected to reach $1.03 billion by 2020, at a CAGR of 9.4%.
Piezoresistive sensors are extensively used in automotive and medical applications, while capacitive sensors are highly recommended in the petrochemical and oil & gas industries. Due to their improved sensitivity, pressure sensors are used for a variety of applications, such as petrochemicals, automotive segments, consumer electronics, utilities, and various other industries. There has been a growth in the automotive industry that uses pressure sensors to a greater extent, owing to applications, such as TPMS (tyre pressure monitoring system), engine management to monitoring of air volume, and measurement of exhaust gas pressure of EGR system. Acceptance of pressure sensors in many application segments is anticipated to increase their consumption in the future. Safety-related mandates in regions like North America and Europe are acting as a driver to the growth of these sensors.
The major companies in the pressure sensor market are Emerson Process Rosemount (U.S.), Yokogawa Electric (Japan), Nagano Keiki (Japan), Siemens (Germany), Honeywell Process Solutions (U.S.), Delphi Electronics & Safety (U.S.), GE Measurement & Control Co. Ltd. (U.S.), Kavlico Corporation (France), Measurement Specialties Inc. (U.S.), and Freescale Semiconductor, Inc. (U.S.)
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