The Mems Pressure Sensors market is witnessing significant growth owing to the advantages the MEMS pressure sensors offer such as high reliability, low cost, small size, and mass producibility. Mems Pressure Sensors measure both absolute and gauge pressure in various industrial and automotive applications such as HVAC, automotive ABS/ESP, oil & gas, medical devices. The Global Mems Pressure Sensors Market is estimated to be valued at US$ 2508.77 Mn in 2024 and is expected to exhibit a CAGR of 6.1% 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. The growing demand for automobiles and increasing adoption of pressure sensors in medical devices are positively impacting the Mems Pressure Sensors market growth. Geographical expansion by key players across countries such as US, Germany, China, and Japan is further augmenting the Mems Pressure Sensors industry.
Market Key Trends
One of the major trends in the Mems Pressure Sensors Market size is miniaturization. Pressure sensor manufacturers are focusing on developing ultra-small and slim pressure sensors to increase their usage in medical devices, consumer electronics, and automotive segments. For instance, Amphenol Advanced Sensors has launched the world’s smallest and thinnest MEMS pressure sensor measuring merely 0.4 mm thick. The trend towards miniaturization and development of system-on-chip sensors is expected to drive the Mems Pressure Sensors market growth during the forecast period.
Porter’s Analysis
Threat of new entrants: low costs needed to manufacture pressure sensors. However, established brands have strong brand image and distribution networks.
Bargaining power of buyers: buyers have moderately high bargaining power as they can choose from various established brands for their pressure sensing needs.
Bargaining power of suppliers: suppliers have moderately low bargaining power due to availability of substitutes and bargaining power of buyers.
Threat of new substitutes: threat is moderate as new technologies can disrupt pressure sensing market though substitution would require overhaul of various functions.
Competitive rivalry: high as market is growing and fragmented with many global as well as domestic players competing on various parameters.
Geographical Regions
Mems Pressure Sensors Market Challenges and Opportunities include North America holding around 35–40% of the overall market share in terms of value due to its large automotive and industrial sectors. In contrast, the Asia Pacific region, especially China, is growing at the fastest pace driven by increasing industrialization, automobile production, and consumer goods manufacturing.
The mem pressure sensors market in Europe is valued at around US$ 800 Mn and is majorly concentrated in Germany, UK and France. These countries have strong presence of automotive as well as manufacturing industries. The mem pressure sensors market in Middle East and Africa is estimated to reach US$ 150 Mn by 2024 growing at over 8% CAGR during the forecast period. Rising oil and gas sector activities are driving the demand of pressure sensors for various industrial applications in the region.
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