Global pressure transducer market size to reach $29.8 billion by 2031 with 11.3% CAGR growth

From GlobeNewswire: 2024-11-28 06:03:00

Coherent MI reports the global Pressure Transducer Market size was valued at $10.2 billion in 2024 and is projected to reach $29.8 billion by 2031, with a CAGR of 11.3%. Industrial automation growth is a key driver, with rising demand for pressure transducers in various industries, including healthcare applications like wearable medical devices.

Piezoelectric pressure transducers are gaining popularity for their high accuracy and reliability in process control applications. Digital pressure transducers are also in demand for their noise immunity and easy integration with digital controllers. The market is expected to grow at a CAGR of 11.3% from 2024 to 2031.

The automotive industry leads in pressure transducer sales, accounting for the highest market share in 2024. North America holds over 30% of the global market share, driven by industrialization and infrastructure development. Key market players include ABB Ltd., Honeywell International Inc., and Siemens AG, focusing on new product launches and partnerships for market growth.



Read more at GlobeNewswire: Pressure Transducer Market Size to Hit $29.8