NA Pressure Sensors Market

North America Pressure Sensors Market Analysis

The NA Pressure Sensors Market is expected to register a CAGR of 9.1% during the forecast period.

• Owing to numerous applications across various industries, such as aerospace, automotive, healthcare, consumer goods, etc., pressure sensors have witnessed significant growth over the years. This can be attributed to the evolution of measurement technologies, as pressure and level measuring devices have become as diverse as their areas of application, ranging from laboratory applications, plant and mechanical engineering to process technology.
• Though MEMS (micro-electro-mechanical systems) have been in the market for a long time, the most prominent trend in the pressure measurement industry over the past few years has been a drive toward smaller parts, increased accuracy, and improved reliability. This has triggered the growth of MEMS-based pressure sensors, as manufacturers leverage advances in microprocessor technology to introduce key improvements in the area of pressure measurement.
• The growth in IoT connected devices is projected to fuel the growth of the market studied, as pressure sensors are transforming the development of smart homes and buildings, smart cities, and smart factories.
• Covid-19 pandemic had an adverse impact on the industry as most of the businesses activities and upgradation projects were put on hold to contain the spread of the virus. However, the market has witnessed a comeback in early 2021 and is expected to grow henceforth.

North America Pressure Sensors Market Trends

Automotive Industry to Show Significant Growth

• The automotive sector accounted for the largest market share by application type, owing to several applications of pressure sensors in automobiles and in the automotive industry. The appropriate automotive pressure sensor can deliver cost-effective reliability and long operational life, whether the application is in the engine, tire, or passenger compartment.
• The demand for the type of sensor depends on the location of installation. If TMPS is located inside of the rims, they are often equipped with wireless power systems enabled by magnetic induction, as these sensors are hard to reach for battery replacement activities once installed.
• Further, evaporative emissions are being subjected to more stringent regulations, especially in North America and Europe. With up to 20% of global hydrocarbon emissions occurring from vehicles, there is a considerable challenge for automotive manufacturers to develop more efficient EVAP systems, triggering research and development activities for better vapor pressure sensors.
• However, in recent times, innovations in windshield wiping technology are increasingly opening up new opportunities to the pressure sensors market. Mercedes has adopted a new windshield wiping technology called Magic Vision Control in its S and SL class vehicles, which washer into wiper.

United States to Hold the Highest Market Share

• North America is dominating the global pressure sensor market and is estimated to grow significantly over the forecast period.
• The region also has the highest adoption of automation and smart devices in almost every industry. Owing to a high rate of automation, the region is a dominating market for smart homes and smart offices. In comparison to the world, the region has also witnessed the highest adoption of IT in the healthcare industry.
• According to the American Automotive Policy Council, automakers and their suppliers are America’s largest manufacturing sector, responsible for 3% of America’s GDP. They are also America’s largest exporters and have exported more than USD 690 billion in vehicles and parts over the last five years, approximately USD 76 billion more than the next largest exporter, i.e., aerospace.
• The researchers at Harvard University have developed a platform for creating soft robots with embedded advanced pressure sensors that can sense movement, pressure, touch, and even temperature.
• Governmental regulations in the region to ensure passenger safety in the automobile sector are expected to be a significant growth factor for the pressure sensor market. For instance, the US government passed the TREAD Act to mandate the installation of the Tire Pressure Monitoring System (TPMS) in all types of automobiles so that drivers can be cautious about the under-inflation of automobiles within 20 minutes of its detection.

North America Pressure Sensors Industry Overview

The North American Pressure Sensor market is partially fragmented and consists of several players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable packaging, many companies are increasing their market presence by securing new contracts and tapping new markets.

• September 2021 - TDK Corporation (TSE: 6762) announces the worldwide availability of the InvenSense ICP-20100 platform, a new generation, feature-rich barometric pressure sensor ideal for applications in smartphones, tablets, drones, and smart home appliances. With architectural innovations, ICP-20100 improves on the industry-leading accuracy, long-term drift, and temperature stability of the SmartPressure product family.
• February 2021 - North Carolina State University researchers reported on the lightweight, soft textile-based sensor prototype patch. The device incorporates a lattice of conductive yarns and is connected to a tiny computer. They tested the system on a prosthetic limb and in walking experiments with two human volunteers, finding the system could reliably track pressure changes in real-time.

North America Pressure Sensors Market Leaders

North America Pressure Sensors Market News

• March 2021 - Frost and Sullivan recognize XSENSOR Technology Corporation with the 2021 North America Technology Innovation Leadership Award. Its Intelligent Dynamic Sensing platform enables precise measurements, high-quality visualizations, smart data, and artificial intelligence (AI)-powered analysis to optimize product performance, comfort, and safety. The patented technology employs high accuracy and reliability sensor elements to reveal the pressure distribution data between static and dynamic surfaces.