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North America Pressure Sensor Market - Forecasts from 2021 to 2026

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  • 98 Pages
  • December 2021
  • Region: North America
  • Knowledge Sourcing Intelligence LLP
  • ID: 5547509
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.


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.

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
Frequently Asked Questions about the North American Pressure Sensor Market

What is the estimated value of the North American Pressure Sensor Market?

The North American Pressure Sensor Market was estimated to be valued at $1460.29 Million in 2019.

What is the growth rate of the North American Pressure Sensor Market?

The growth rate of the North American Pressure Sensor Market is 6.1%, with an estimated value of $2216.11 Million by 2026.

What is the forecasted size of the North American Pressure Sensor Market?

The North American Pressure Sensor Market is estimated to be worth $2216.11 Million by 2026.

Who are the key companies in the North American Pressure Sensor Market?

Key companies in the North American Pressure Sensor Market include General Electric Company, Robert Bosch GmbH, ABB Group, Siemens AG, NXP Semiconductors, Rockwell Automation, Inc., Schneider Electric SE, Mitsubishi Heavy Industries and Texas Instruments.

Table of Contents

1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Currency
1.5. Assumptions
1.6. Base, and Forecast Years Timeline
2.1. Research Design
2.2. Secondary Sources
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
5.1. Absolute Pressure Measurement
5.2. Differential Pressure Measurement
5.3. Gauge Pressure Measurement
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
7.1. Energy and Power
7.2. Oil and Gas
7.3. Healthcare
7.4. Manufacturing
7.5. Consumer Electronics
7.6. Automotive
7.7. Others
8.1. North America
8.1.1. United States of America
8.1.2. Canada
8.1.3. Mexico
8.1.4. Others
9.1. Market Share Analysis
9.2. Investment Analysis
9.3. Recent Deals
9.4. Strategies of Key Players
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

Companies Mentioned

  • General Electric Company
  • Robert Bosch GmbH
  • ABB Group
  • Siemens AG
  • NXP Semiconductors
  • Rockwell Automation, Inc.
  • Schneider Electric SE
  • Mitsubishi Heavy Industries
  • Honeywell International, Inc.
  • Texas Instruments
  • PCB Piezotronics