The global non-optical pressure sensor market is projected to grow at a CAGR of 4.02% to reach a value of US$3.185 billion by 2027, from US$2.417 billion in 2020.
Pressure sensors are referred to as devices that are equipped with pressure-sensing elements for the measurement of pressure and finally convert the value into an electronic signal in the form of output. The market is projected to hold strong growth prospects owing to the immense applications of pressure sensors across varied end-use industries. For example, in HVAC systems, pressure systems are utilized for monitoring the condition of air filters. As filters clog with particulates, the differential pressure across the filter rises and this can be detected. The improved GPS location is offered by the use of pressure sensors. An attitude can be measured through the detection of barometric pressure due to an association between the barometric pressure and altitude in the atmosphere. Furthermore, pressure sensors are utilized in wearables for the monitoring of patients and the elderly in assisted living environments. In the case of an event, like a fall, the sensors bring it to the attention of medical staff or a family member. The mechanism lies in the measurement of small changes in air pressure by the pressure sensor.
Growing geriatric population
It has been observed that pressure sensors are placed in automated drug delivery systems to deliver the proper dosage to patients. Hence, the market is projected to grow at a significant pace over the next five years. The major factors supporting the growth of the utilization of drug delivery systems include a growing number of chronic diseases like diabetes and respiratory diseases. In addition, the growing geriatric population suffering from age-associated diseases is further propelling the market demand. It has been predicted by the National Institutes of Health that the diabetes prevalence in America is predicted to rise by 54%, affecting over 54.9 million Americans between 2015-2030. Also, annual deaths due to diabetes are predicted to surge by 38% to 385,800. The total annual medical and societal costs linked to diabetes are predicted to rise by around 53% to over USD622 billion by the end of 2030.
Increased technological advancements
Although, significant efforts are being made toward effective diabetes management. The emergence of advanced insulin delivery systems with automated dispensing systems is providing relief for many patients suffering from this disease. According to the USFDA news release in December 2019, the organization announced the authorization of the first interoperable automated glycemic controller device that is capable of automatically adjusting insulin delivery to a diabetic patient. The automated insulin dosing (AID) system consists of a pump, a continuous glucose monitor (CGM), and software for controlling the system of compatible devices. With automated dispensing devices increasingly present in various healthcare organizations, the market is poised to grow during the forecast period. In addition, the shift to direct patient care, changes in healthcare systems, and cost-reduction pressures is further offering high growth prospects for automated drug delivery systems to proliferate, further contributing to surging the market growth during the course of the forecast period. The American Society of Health-System Pharmacists approved the use of automated drug dispensing system distribution as this has contributed to releasing pharmacists from labor-intensive drug distribution functions.
Companies offering pressure sensors that fulfill the requirements of the various end-user industries are driving the market growth during the forecast period.
STS Sensor Technik Sirnach AG offers pressure sensors for a range of industries. For machine and plant construction, the company offers pressure transmitters and transducers for a variety of applications in machines and plant construction. Examples include the installation of pressure sensors on the harbor doors of Rotterdam Port that protect the city from storm tides. The company has robust experience in process automation, hydraulic monitoring, and plant construction. For the shipbuilding and marine industries, the company offers level sensors for the monitoring of water, wastewater, and fuel tanks, in particular, ballast tanks.
The company is also one of the main suppliers of this sector owing to the high reliability of its sensors. In addition, the company has the ability to manufacture them from titanium. The company manufactures pressure transducers and transmitters to fulfil the most demanding test and measurement specifications in aviation. The product portfolio includes absolute, gauge, and miniature pressure sensors. For the mining industry, the company produces pressure sensors that are robust, reliable, and accurate. These can be utilized for hydraulic monitoring, pressure, and temperature measurements in explosion endangered zones, and groundwater monitoring applications. For oil and subsea applications, the company manufactures a wide variety of pressure transducers and transmitters for oil and gas applications. These include onshore, offshore, and subsea applications. The sensors are explosion-proof and have intrinsically safe certifications. The products are designed to offer the required precision and long-term stability in challenging situations.
The non-optical pressure sensor market witnessed a significant impact due to the COVID-19 pandemic. The end-user industries experience a slight decline in 2020 owing to the shutting down of manufacturing operations due to labour shortages, work-from-home, and lockdown initiatives. Although many industrial activities recovered in the latter half of the year, there was still a gap in the supply chain due to delays in shipment and deliveries. Besides, the manufacturing units of sensors, particularly pressure sensors, require the technicians to be physically present on the site. Many modernization activities were also put on hold in the wake of COVID-19.
| Report Metric | Details |
| Market Size Value in 2020 | US$2.417 billion |
| Market Size Value in 2027 | US$3.185 billion |
| Growth Rate | CAGR of 4.02% from 2020 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Sensor Technology, End-User Industry, And Geography |
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies Covered | Emerson Electric Co., Honeywell International Inc., Rotork, Parker Hannifin Corp., ABB, SMC Corporation, Eaton Corporation plc, Festo Group, SSI Technologies, LLC |
| Customization Scope | Free report customization with purchase |
Segmentation:
Frequently Asked Questions (FAQs)
Q1. What will be the non-optical pressure sensor market size by 2027?
A1. The global non-optical pressure sensor market is projected to reach a total market size of US$3.185 billion in 2027.
Q2. What are the growth prospects for the non-optical pressure sensor market?
A2. The non-optical pressure sensor market is projected to grow at a CAGR of 4.02% during the forecast period.
Q3. What is the size of the global non-optical pressure sensor market?
A3. Non-Optical Pressure Sensor Market was valued at US$2.417 billion in 2020.
Q4. What factors are anticipated to drive the non-optical pressure sensor market growth?
A4. The non-optical pressure sensor market is projected to hold strong prospects for growth in the forecast period due to the immense applications of pressure sensors across varied end-use industries.
Q5. Which region holds the largest market share in the non-optical pressure sensor market?
A5. Asia Pacific region is predicted to hold a significant market share in the global non-optical pressure sensor market owing to the growth of industrial manufacturing companies in the region along with the growing industrialization.
Emerson Electric Co.
Honeywell International Inc.
Rotork
Parker Hannifin Corp.
ABB
Eaton Corporation plc
Festo Group
SSI Technologies, LLC
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