Air Pressure Sensors Global Market 2024 To Reach $24.62 Billion By 2028 At Rate Of 7.5%
Air Pressure Sensors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
LONDON, GREATER LONDON, UK, August 15, 2024 /EINPresswire.com/ -- The air pressure sensors market has experienced robust growth in recent years, expanding from $17.17 billion in 2023 to $18.43 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to automotive advancements, increased awareness of safety and efficiency, increasing industrial automation, enhanced accuracy of GPS systems, and demand for more precise monitoring in the automotive and industrial sectors.
Strong Future Growth Anticipated
The air pressure sensors market is projected to continue its strong growth, reaching $24.62 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to the rise of electric vehicles, growth in autonomous vehicles, increasing reliance on data analytics, rising demand for connected cars, urbanization, and traffic congestion.
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Growth Driver Of The Air Pressure Sensors Market
The growing automotive sector is expected to propel the growth of the air pressure sensors market going forward. The automotive sector refers to the design, development, manufacturing, marketing, and sale of motor vehicles, including cars, trucks, buses, motorcycles, and other types of vehicles. The automotive sector is expanding due to improved economic conditions, government incentives and regulations, consumer preferences and lifestyle changes, innovation, and competition. Air pressure sensors are used in the automotive sector to monitor and regulate tire pressure, engine performance, and airbag deployment systems for enhanced safety and efficiency.
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Major Players And Market Trends
Key players in the air pressure sensors market include Siemens AG, General Electric Company, Panasonic Corporation, Denso Corporation, Continental AG, Schneider Electric SE.
Major companies operating in the air pressure sensors market are increasing their focus on developing innovative products, such as barometric air pressure sensors, to meet the growing demand for precise and reliable pressure measurements. Barometric air pressure sensors are devices that measure the atmospheric pressure. These sensors convert the atmospheric pressure into an electrical signal, which can then be used by different systems for monitoring and control purposes.
Segments:
1) By Type: Absolute Air Pressure Sensor, Differential Air Pressure Sensor, Gauge Air Pressure Sensor
2) By Sensor Type: Wired Sensors, Wireless Sensors
3) By Technology: Piezoresistive, Capacitive, Electromagnetic, Resonant Solid-State, Optical, Other Technologies
4) By End-User: Automotive, Aerospace And Defense, Manufacturing, Medical, Other End-Users
Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the air pressure sensors market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the air pressure sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Air Pressure Sensors Market Definition
Air pressure sensors are devices used to measure the pressure of gases or liquids. These sensors convert pressure into an analog electrical signal, which can then be interpreted and used by various systems. They are essential in numerous applications across different industries, providing critical data for monitoring, control, and safety purposes.
Air Pressure Sensors Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Air Pressure Sensors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on air pressure sensors market size, air pressure sensors market drivers and trends, air pressure sensors market major players, air pressure sensors competitors' revenues, air pressure sensors market positioning, and air pressure sensors market growth across geographies. The air pressure sensors market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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