Pressure Sensor Manufacturing in the US - Industry Market Research Report

Pressure Sensor Manufacturing in the US - Industry Market Research Report
Pressure Sensor Manufacturing in the US

Pressure sensor manufacturers produce devices that measure fluid, gas and mechanical pressure for a broad range of automotive and medical device manufacturers and the oil and gas, consumer electronics, HVAC, military and aerospace industries. Technological advancements have improved the performance of pressure sensors, making them more reliable and broadening their applications to serve new markets. In particular, the application of microelectromechanical (MEMS) pressure sensors, which have advanced microprocessors and electrical components that permit greater functionality and efficiency in a smaller, cost-effective design, have been a key revenue driver. However, drops in demand from the vehicle manufacturing sector, the largest buyer of pressure sensors, led to losses the industry has yet to fully recover from. As a result, revenue is estimated to weaken at a CAGR of 0.4% to $1.8 billion over the past five years, including a 0.5% drop in 2023 alone.

Pressure sensor manufacturers produce devices that measure fluid, gas and mechanical pressure for a broad range of downstream manufacturing industries. Key markets include automotive and medical device manufacturing, oil and gas, consumer electronics, HVAC, military and aerospace industries.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.