$2.0bn
$XXX.Xm
4,347
44
$XXX.Xm
Technological advancements have improved the performance of pressure sensors, making them more reliable and broadening their applications to serve new markets. In particular, the application of microelectromechanical (MEMS) pressure sensors, which have advanced microprocessors and electrical components that permit greater functionality and efficiency in a smaller, cost-effective design, has been a key revenue driver. However, drops in demand from the vehicle manufacturing sector, the largest buyer of pressure sensors, led to losses the industry has yet to fully recover from. Still, revenue is estimated to hike at a CAGR of 2.3% to $2.0 billion through the end of 2024, including an expected 2.0% gain in 2024 alone.
Industry revenue has grown at a CAGR of 2.3 % over the past five years, to reach an estimated $2.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Honeywell International Inc. | 992.3 | 228.7 | 23.0 | |
Baker Hughes Company | 784.4 | 94.3 | 12.0 | |
Te Connectivity ltd. | 310.8 | 56.4 | 18.1 |
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Industry revenue is measured across several distinct product and services lines, including Airflow sensors, Silicon capacitive sensors and Ceramic capacitive sensors . Airflow sensors is the largest segment of the Pressure Sensor Manufacturing in the US.
Piezoresistive pressure sensors remain the preferred product
Pressure sensor manufacturers produce devices that measure fluid, gas and mechanical pressure for a broad range of downstream manufacturing industries. Key markets include automotive and medical device manufacturing, oil and gas, consumer electronics, HVAC, military and aerospace industries.
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NAICS 33451 - Pressure Sensor Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Growing demand for sensors is driven by research and development capabilities. This has enabled manufacturers to serve new markets, diversifying revenue streams.
Learn about an industry's products and services, markets and trends in international trade.
Falling demand for new vehicles enables other markets to grow. The consumer electronic sector has been growing as more downstream manufacturers use sensors to make products m...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Sensor producers remain near major markets. By basing operations near large buyers, manufacturers can develop strong relationships that prevent buyers from switching supplier...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Foreign producers pose a prominent threat to domestic manufacturers. The lower operating costs abroad enable foreign manufacturers to charge lower prices, boosting demand for...
Learn about the performance of the top companies in the industry.
Falling demand for oil and gas extraction harms pressure sensor sales. This trend has begun to reverse because of rising oil and gas prices and growing extraction activity.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Weakening demand for utilities construction harms domestic manufacturers. This trend will start to reverse as investments from the Bipartisan Infrastructure Act boost constru...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Wage expenses grow due to the need for new product development. Manufacturers rely on skilled workers to create new products and features, resulting in higher spending on wag...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Pressure Sensor Manufacturing in the US industry in United States is $2.0bn in 2024.
There are 44 businesses in the Pressure Sensor Manufacturing in the US industry in United States, which has grown at a CAGR of 1.4 % between 2019 and 2024.
The market size of the Pressure Sensor Manufacturing in the US industry in United States has been growing at a CAGR of 2.3 % between 2019 and 2024.
Over the next five years, the Pressure Sensor Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Pressure Sensor Manufacturing market in United States are Honeywell International Inc., Baker Hughes Company and Te Connectivity ltd.
Manufacturing industrial-process type pressure sensors and Manufacturing pressure gauges are part of the Pressure Sensor Manufacturing in the US industry.
The company holding the most market share in United States is Honeywell International Inc..
The level of competition is moderate and increasing in the Pressure Sensor Manufacturing in the US industry in United States.