Capacitive Pressure Sensor Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Capacitive Pressure Sensor Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Capacitive Pressure Sensor Market was valued at USD 2.58 billion in 2020 and is expected to reach USD 4.24 billion by 2026 and work at a CAGR of 8.63% over the forecast period (2021-2026). Pressure sensors with a capacitive cell have been designed to offer unique and accurate results than the existing equipment. The distinct advantages of ceramic material allow sensors to provide long-term stability and reliability, with high resistance to pressure.

• The simple and robust mechanical structure of the capacitive pressure sensor enables several applications for industrial purposes. Capacitive pressure sensors can sustain harsh industrial conditions due to the use of ceramics, also provide a quicker response rate.
• The miniaturization of capacitive pressure sensors, with the developments in MEMS technology, has increased its applications in a wide range of industries. The miniaturization of capacitive pressure sensors has reduced its production cost. Hence, with cheap, efficient, and a wide array of applications, the capacitive pressure sensor market is growing.
• However, the low barrier to entry in the market has led to several players in the market offering capacitive pressure sensors, which is leading to highly competitive pricing. This and low product differentiation are the factors restricting market growth.

• Essential requirements in the design and manufacturing of pressure sensors for automotive applications include optimal performance in a range of temperatures, vibration, media, shock, and electromagnetic conditions, i.e., the sensor must be durable enough to perform vital functions.
• The rapid evolution of the automotive sector, with the advent of autonomous vehicles or electric vehicles, is emphasizing the miniaturization of equipment for applications, which is primarily driving market growth.
• Major automotive manufacturers are expanding their manufacturing capacity. For instance, the German automotive manufacturer, Volkswagen, is investing over USD 800 million for producing a next-generation electric vehicle in United States.
• The global sales of electric vehicles crossed the 1,400 thousand mark in 2018. Also, in United States, EVs sales have shown more than 70% growth from the previous year (2018), as stated by EV-Volumes.com. The huge demand for automotive vehicles and its rapid developments are expected to augment the capacitive pressure sensor market.

• North America is expected to dominate the capacitive pressure sensor market due to the stable industrial structure across the domains. The growing R&D activities in the region drive it to dominate the field of innovation and its commercialization.
• Medical applications of the capacitive sensors have shown significant growth over the year. Respirators, ventilators, vital sign monitors, and airflow applications are a few major medical end-user applications. New research developments are being carried out by many tech companies and they are launching their products into the market for monitoring blood pressure. For instance, technology giant Apple Inc. filed a patent application for blood pressure monitoring cuff.
• The region also leads the aerospace and defense industry. United States is the leading country for defense expenditure. According to SIPRI, in 2018, the country spent 3.2% of its GDP on military expenditure. Also, NASA has announced its ten-year plan for the upcoming projects and focus on expansion and exploration throughout the solar system.
• These massive investments by the organizations in the regions are driving the market for a capacitive pressure sensor and its applications.

With the declining product cost of capacitive pressure sensors, the rise in the entry of players offering the product is being observed. Additionally, the lack of differentiation in the product offerings made the vendors adopt competitive pricing strategies. Hence, due to the presence of many players, the market trend is toward fragmentation.

• Mar 2019 - Turck launched a new PS+ series of pressure sensors with capacitive touch pads. The robust sensors are the first products of a modular fluid sensor series that enables customers to provide reliable measuring instruments with intuitive operation. The operator interface with capacitive touchpads and a bicolor display enables settings to be carried out quickly in plain text.
• Nov 2018 - Infineon Technologies, Inc. announced the acquisition of Siltectra GmbH. Siltectra has developed an innovative technology (Cold Split) to process crystal material efficiently and with minimal loss of material. With this acquisition, the company has planned to leverage this technology in producing many chips from a single silicon wafer.

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