Latest Market Research Pressure Sensor Market Analysis, Growth Drivers, T | Page 2

Among various applications, automotive held the largest share of the overall pressure sensor market in
2016 owing to the increased use of pressure sensors in oil pressure monitoring, fuel pressure monitoring,
nitrous pressure monitoring, transmission pressure monitoring, and tire pressure monitoring.
Asia Pacific (APAC) is expected to hold the largest share of the pressure sensor market during the forecast
period. The pressure sensor market in countries such as China, India, Japan, and South Korea is expected
to grow at the highest CAGR due to the increasing deployment of automated storage and retrieval systems
(ASRS) and rising awareness about the advantages of automated systems.
The key restraining factor for the growth of the pressure sensor market is the intense pricing pressure. The
consumers of pressure sensors are key players in applications such as utilities, oil & gas, consumer
electronics, automotive, oil & gas, aviation, marine, medical, industrial, and others. The major demand for
pressure sensors is from the automotive and medical applications. While both these industries are growing
rapidly, they face a stiff price competition in the market. Therefore, the players in these applications
demand low-cost pressure sensors to bring down the price of the final product.
Key market players such as Honeywell (US), ABB (Switzerland), NXP Semiconductors (Netherland), Infineon
Technologies (Germany), Emerson Electric (US), General Electric (US), Siemens (Germany),
STMicroelectronics (Switzerland), Robert Bosch (Germany), TE Connectivity (Switzerland), Schneider
Electric (France), Denso (Japan), Continental (Germany), Endress+Hauser (Switzerland), SSI Technologies
(US), and Delphi (UK) focus on strategies such as product launches and developments, agreements,
mergers and acquisitions, partnerships, and collaborations to enhance their product offerings and expand
their business.
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