Pressure Sensor Market
- 4100.00 Dollar US$
- Published date: April 20, 2021
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- Pune, Pune, Maharashtra, India
Pressure Sensor Market is expected to grow from USD 9.23 Billion in 2019 to USD XX Billion by 2026, at a CAGR of XX % between 2019 and 2026. (Detailed analysis of the market CAGR is provided in the report)
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Pressure Sensor Market
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Growing adoption of MEMS-based & micromachine pressure sensors, legislation of stringent safety & industrial pressure sensing standards, growing demand for piezoresistive sensors in the medical and automotive sectors, advancements in nanotechnology & expanding ICT technology applications, preference for capacitive sensors in oil & gas and petrochemical industries, increasing adoption of pressure sensors in consumer goods and wearables are the major driving factors for the growth of pressure sensor market. However, high costs associated with pressure sensors is the major restraining factor for the market growth.
Further key findings from the report:
• Automotive applications accounted for the largest share of the overall pressure-sensing market in 2016. Pressure sensors are majorly used in cars in automatic transmission, tire pressure monitoring, and engine management applications. Pressure sensors are commonly used in lightweight vehicles to ensure smooth engine functioning and safety. The significant increase in sales of cars in APAC countries such as India and China is one of the key contributing factors for the market growth
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