MEMS Pressure Sensors Market is Anticipated to Witness High Growth Owing to Growing Automation Demand
MEMS Pressure Sensors Market |
Microelectromechanical systems (MEMS) pressure sensors are
microfabricated mechanical and electrochemical devices that can sense and
measure pressure, convert it to an electric signal. They are commonly used
components in automotive, medical, industrial and consumer electronics
applications. MEMS pressure sensors offer advantages such as small size, high
sensitivity, robustness, reliability and low cost compared to traditional
pressure sensors. The growing automation needs across various industries is
increasing the demand for integrated circuits and sensors which is fueling the
MEMS pressure sensors market growth.
The Global MEMS Pressure Sensors Market
is estimated to be valued at US$ 2722.92 Bn in 2024 and is expected to exhibit
a CAGR of 10.% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the MEMS Pressure Sensors are Henkel, KM Packaging,
Bilcare Solutions, Flexifoil Packaging, Alfipa, Hydro, Symetal, Zenith
Alluminium Pvt Ltd, OBEIKAN, UACJ Corporation, Norsk Hydro, JW Aluminum,
Constellium, Aleris, Hulamin, Elvalhalcor, Gulf Extrusions, Alcoa, Hindalco
Novelis, AMAG Austria Metall AG. These players are focusing on new product
developments, partnerships and mergers & acquisitions to gain a competitive
edge in the market.
The key opportunities in the MEMS
Pressure Sensors Market Growth include development of sensors for
emerging applications in IoT, wearables and medical devices. The growing demand
for connected devices and data from various industries offers huge potential
for MEMS pressure sensors.
Growing global digitalization and industrialization is fueling the demand for
sensors across regions. Key players are expanding their manufacturing
facilities and distribution networks globally especially in Asia Pacific and
North America regions to tap the opportunities in these high growth markets.
Market drivers: Growing demand for automated controls and smart electronics in
automotive, industrial and consumer electronics industries is driving the MEMS
pressure sensors market growth. Penetration of sensors in emerging applications
like wearables, IoT devices and smart homes also offers significant
opportunities.
Market restrain: High cost of manufacturing, reliability issues and complexity
in miniaturization of MEMS sensors are some of the challengesrestraining the
market growth. Lack of design flexibility also hinders the wide adoption of
MEMS pressure sensors in certain applications.
Segment
Analysis
The MEMS pressure sensor market can be segmented into absolute pressure
sensors, differential pressure sensors, and gauge pressure sensors. The
differential pressure sensor segment currently dominates the market owing to
its wide application in automotive airbag systems, HVAC systems in buildings,
and medical equipment to measure blood pressure and air pressure in ventilators.
These sensors are able to measure the difference between two pressure inputs
and are frequently utilized to detect changes or differences where an absolute
measurement of pressure is not required.
Global Analysis
Regionally, Asia Pacific dominates the MEMS pressure sensor market and is
expected to grow at the fastest rate during the forecast period. This is due to
growing automotive production and sales in China and India. Additionally, the
increasing adoption of consumer electronics and medical devices in Asia Pacific
is also driving the demand for MEMS pressure sensors. North America is another
major regional market driven by the strong presence of major sensor
manufacturers such as Honeywell, Amphenol and TE Connectivity. Meanwhile,
Europe is expected to exhibit steady growth due to the growing automotive
industry and increasing focus on aircraft manufacturing and infrastructure
development in the region.
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