North America Pressure Sensor Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Absolute Pressure Measurement, Differential Pressure Measurement, Gauge Pressure Measurement), By Technology (Piezoresistive Pressure Sensor, Electromagnetic Pressure Sensor, Optical Pressure Sensor, Resonant Solid State Pressure Sensor, Capacitive Pressure Sensor), By End-Users (Energy And Power, Oil And Gas, Healthcare, Manufacturing, Consumer Electronics, Automotive, Others), And By Geography - Forecasts From 2021 To 2026

  • Published : Dec 2021
  • Report Code : KSI061611327
  • Pages : 98

The North American pressure sensor market is expected to reach US$2,216.113 million by the end of 2026, increasing from US$1,460.287 million in 2019, growing at a CAGR of 6.14% during the forecast period. A pressure sensor is a device that measures the pressure of gases or liquids. Pressure is the force necessary to stop a fluid from expanding, and it is generally expressed in units of force per unit area.

The increasing production of automobiles and significant investment in research & development are driving the expansion of the North American pressure sensor market. The availability of a skilled workforce, as well as the increasing adoption of new technologies such as electric cars, will drive up demand for pressure sensors in the future years. Numerous companies across the world are working on pressure sensors for IoT devices. In IoT systems, pressure sensors are used to monitor pressure-driven equipment and systems. In October 2019, for instance, L-com, a trademark of Infinite Electronics, a manufacturer of wireless and wired connection devices based in the United States, announced the introduction of level and pressure sensors aimed towards IoT applications.

Recently, the rising need for medical breathing apparatus due to the COVID-19 pandemic has further fueled the demand for pressure sensors.

Growth Factors

  • Growing application in electric vehicles

In electric vehicles, pressure sensors are increasingly being used to monitor the pressure of vital fluids such as gearbox and transmission oil, engine oil, and hydraulic oil. According to the International Energy Agency's (IEA) Global EV Outlook 2021, the global electric vehicle stock in the United States increased from 1.5 million in 2019 to 1.8 million in 2020. According to the International Council on Clean Transportation (ICCT), at least 21 national and provincial governments, including Canada, China, France, Scotland, South Korea, the United Kingdom, and 15 US states, set new vehicle electrification objectives for 2020. By the end of 2020, more than 20 nations, provinces, and states throughout the world, primarily in Europe and North America, have planned to phase out new ICE passenger vehicle sales or to solely sell new electric models between 2025 and 2050. In June 2020, The California Air Resources Board (CARB) unanimously authorized the world's first mandate for electric truck sales. Starting in 2024, the electric truck requirement will compel medium-and heavy-duty truck manufacturers to sell an increasing percentage of zero-emission vehicles in the state.  Thus, growing electric vehicle sales are driving the market forward.

Restraints

  • High cost of the device

The utilization of sensors facilitates automation of electronic equipment however it results in incurring additional expense. The inclusion of sensors enables new functionality and makes devices more automated; nevertheless, it incurs some additional expense and is thus avoided in cost-effective applications.

Impact of Covid-19 on the North America Pressure Sensor Market

Lockdowns in a number of countries to prevent the spread of COVID-19 had hampered pressure sensor production as well as the supply chain. The pandemic had an effect on the supply chain of key pressure sensor manufacturers. Following the outbreak, there has been a significant decrease in the market for pressure sensors. Despite this, demand for pressure sensors is projected to rebound.

Recent Developments:

  • June 2021 - Alcon introduced revolutionary phacoemulsification (phaco) technology to Canadian physicians that automatically stabilize intraocular pressure (IOP) and minimizes surges. The Active Sentry Handpiece from Centurion Vision System is the first and only phaco handpiece with a built-in fluidics pressure sensor.
  • June 2021 - Superior Sensor Technology created a customized differential pressure sensor for Particles Plus.

North America Pressure Sensor Market Scope:

Report Metric Details
 Market size value in 2019  US$1,460.287 million
 Market size value in 2026  US$2,216.113 million
 Growth Rate  CAGR of 6.14% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Million
 Segments covered  Type, Technology, End-Users, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered General Electric Company, Robert Bosch GmbH, ABB Group, Siemens AG, NXP Semiconductors, Rockwell Automation, Inc., Schneider Electric SE, Honeywell International, Inc., Texas Instruments, PCB Piezotronics
 Customization scope  Free report customization with purchase

Market Segmentation:

  • BY TYPE
    • Absolute Pressure Measurement
    • Differential Pressure Measurement
    • Gauge Pressure Measurement
  • BY TECHNOLOGY
    • Piezoresistive Pressure Sensor
    • Electromagnetic Pressure Sensor
    • Optical Pressure Sensor
    • Resonant Solid State Pressure Sensor
    • Capacitive Pressure Sensor
  • BY END-USERS
    • Energy and Power
    • Oil and Gas
    • Healthcare
    • Manufacturing
    • Consumer Electronics
    • Automotive
    • Others
  • BY GEOGRAPHY
    • North America
      • United States of America
      • Canada
      • Mexico
      • Others

1. INTRODUCTION
1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation


2. RESEARCH METHODOLOGY 
2.1. Research Design
2.2. Secondary Sources


3. EXECUTIVE SUMMARY


4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness


5. NORTH AMERICA PRESSURE SENSOR MARKET BY TYPE
5.1. Absolute Pressure Measurement
5.2. Differential Pressure Measurement
5.3. Gauge Pressure Measurement


6. NORTH AMERICA PRESSURE SENSOR MARKET BY TECHNOLOGY
6.1. Piezoresistive Pressure Sensor
6.2. Electromagnetic Pressure Sensor
6.3. Optical Pressure Sensor
6.4. Resonant Solid State Pressure Sensor
6.5. Capacitive Pressure Sensor


7. NORTH AMERICA PRESSURE SENSOR MARKET BY END-USERS
7.1. Energy and Power
7.2. Oil and Gas
7.3. Healthcare
7.4. Manufacturing
7.5. Consumer Electronics
7.6. Automotive
7.7. Others


8. NORTH AMERICA PRESSURE SENSOR MARKET BY GEOGRAPHY
8.1. North America
8.1.1. United States of America
8.1.2. Canada
8.1.3. Mexico
8.1.4. Others


9. COMPETITIVE INTELLIGENCE
9.1. Market Share Analysis
9.2. Investment Analysis
9.3. Recent Deals
9.4. Strategies of Key Players


10. COMPANY PROFILES
10.1. General Electric Company
10.2.  Robert Bosch GmbH
10.3.  ABB Group
10.4. Siemens AG
10.5. NXP Semiconductors
10.6.  Rockwell Automation, Inc.
10.7.  Schneider Electric SE
10.8.  Honeywell International, Inc.
10.9.  Texas Instruments
10.10. PCB Piezotronics


General Electric Company

Robert Bosch GmbH

ABB Group

Siemens AG

NXP Semiconductors

Rockwell Automation, Inc.

Schneider Electric SE

Honeywell International, Inc.

Texas Instruments

PCB Piezotronics


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