Pressure Transducer Market to Reach US$ 5.6 Billion by 2031: Industrial Automation Expanding Avenue, States TMR Study – PR Newswire

WILMINGTON, Del., Aug. 3, 2022 /PRNewswire/ --Continuous advancement in piezoresistive pressure transducers have helped firms unlock revenue streams in various industrial applications. Various types of pressure transducers have been commercialized to meet the needs of automation in various process industries including verticals such as oil & gas, automotive, and heavy engineering. The pressure transducer market size is projected to reach US$ 5.6 Bn by 2031 from value of US$ 4.0 Bn in 2021.

Among the various types of pressure transducers, the demand for absolute pressure measuring sensors is poised to rise in industrial safety applications. Some of the unique characteristics that make the type of pressure transducer more popular than others are remarkable accuracy and error-free functionality. The segment is estimate to reach value of US$ 1.85 Bn by 2031. Pressure transducer manufacturers are keen on reaping revenue gains by meeting rise in demand for products in the oil & gas industry.

Need for cutting-edge machine precision technologies has created sizable opportunities in the pressure transducer market during the forecast period of 20222031. Sensors used in automotive testing application are rising, invigorating the demand for automotive pressure transducers & transmitters. Firms in the market are capitalizing on the demand in the automotive industry by unveiling advanced sensors that can work in broad operating temperature range and possess remarkable media compatibility.

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Key Findings of Pressure Transducer Market Study

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Pressure Transducer Market: Key Drivers

Pressure Transducer Market: Regional Growth Dynamics

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Pressure Transducer Market Competition Landscape

The study found that the pressure transducer market is currently characterized by partial fragmentation in that several players contribute to the demand and supply of products.

Some of the key players in the market are:

Pressure Transducer Market Segmentation

Regions Covered

Countries Covered

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Pressure Transducer Market to Reach US$ 5.6 Billion by 2031: Industrial Automation Expanding Avenue, States TMR Study - PR Newswire