High growth across several application segments such as automotive, healthcare, and consumer electronics is expected to drive the piezoresistive pressure sensors market over the forecast period. Advancements in Micro Electro Mechanical Systems (MEMS) technology have been largely responsible for the commercialization of piezoresistive pressure sensors. Vacuum, gauge, differential & absolute pressure are the parameters measured by the piezoresistive pressure sensor technology.
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Components involved include discrete components, driver IC, and transducers. Increasing vehicle demand, particularly from developing countries is expected to drive market growth over the forecast period. Favorable government initiatives encouraging increased use of piezoresistive pressure sensors in automobiles are expected to spur the market demand over the next six years.
Medical and automotive segments are anticipated to emerge as key emerging application areas which can be attributed to advancements in pressure sensor technologies. Extensive use in airbags to address road safety concerns is expected to result in the automotive industry emerging as a lucrative growth sector. Simpler integration with electronics, linear response, and inherent RF noise shielding are some of the characteristics encouraging piezoresistive pressure sensors adoption. Significant power consumption and higher fundamental noise limits as compared to their capacitive counterparts are expected to pose a challenge to market growth. Technological advancements and proliferation in nanotechnology applications are anticipated to offer avenues for market growth.
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Fuelled by high demand from the booming automotive industry, Asia Pacific is expected to emerge as a key regional piezoresistive pressure sensors market. Increased implementation of Tire Pressure Monitoring Systems (TPMS) is expected to augment piezoresistive pressure sensors demand. In the U.S., National Highway Traffic Safety Administration (NHTSA) mandates the installation of TPMS devices to warn drivers about under-inflated tires.
Leading piezoresistive pressure sensors market players emphasize on the sensors to be used in hazardous areas. Advancements in sensor technology have led to the development and move towards miniaturization of sensors thereby offering several opportunities to the key industry participants. For instance, Kistler Instruments offers pressure sensors suitable to be used in intrinsically safer areas as well as non-incendive areas. Key piezoresistive pressure sensors market players include Freescale Semiconductor Inc., General Electric, Epcos AG, Honeywell International Inc., Endress+Hausar, Orman AVL, and Measurement Specialities Inc.
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