The piezoresistive pressure sensors market is valued at a CAGR of 5.8% during the forecast period (2021-2026). Key trends state that microelectromechanical systems (MEMS) are now poised to capture large segments of the existing sensor market and to catalyze the development of new markets.

- The piezoresistive pressure sensors have been widely accepted as low-cost solutions. These sensors are comparatively less expensive than the capacitive pressure sensors, which is a major reason for the heavy competition between the capacitive ceramic pressure sensors and piezoresistive ceramic pressure sensors. The relative performance of the capacitive sensors is offset by the price performance of piezoresistive sensors.

- The rising pattern of miniaturization of sensors will be able to open new open doors for the piezoresistive sensors market. The organizations in this division are continually growing new piezoresistive sensors, particularly for risky/hazardous regions which will additionally help the piezoresistive sensor market.

- Expanded vehicle request in developing nations and rising legislative concerns with respect to security is helping the piezoresistive market to develop. Nanotechnology applications will positively affect the market development in the next couple of years. The principle favorable position of the piezoelectric sensor is the wide application regions which are a significant driver driving the market, for example, automotive, aircraft, and so forth.
- Some sensors of piezoresistive need extra power during operation and the noise limit is high compared to capacitive pressure sensors, which can be said to be a restraint for the piezoresistive market.

Key Market Trends

Automotive Industry is Expected to Significantly Drive the Market Growth

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- Piezoresistive transducers implanted in a silicon wafer with bulk micromachined diaphragms have become the dominant technology for producing automotive pressure sensors. Ceramic has an inert nature to the majority of liquids in the automotive environment, such as to fuels, oil, brake fluids, cleaners, and water, among others. A strong design of sensors will enhance the reliability and long operational life of pressure sensors in the conditions, to provide formidable results.

- Due to the increase in population, there is a consistent interest and demand for passenger vehicles and cars. For a normal buyer, cars are solid alternatives, as they have better eco-friendliness and security highlights. These components drive the development of premium vehicles which keeps on driving the offers of light vehicles, which in total add to an expansion in the demand for pressure sensors in the forecast period.
- According to the European Federation for Transport and Environment, approximately half of all automobiles not equipped with a tire-pressure monitoring system are driven on significantly under-inflated tires. TPMS is used to provide real-time monitoring of operating pressures of automotive tire before, during, and after typical vehicle operation/driving conditions.

- The primary benefits of implementing TPMS during normal automotive usage can be summarized into multiple categories, such as safety/performance, tire-lifetime extension, fossil-fuel conservation, CO2 (greenhouse) gas emission reduction, etc.

- Designers use automotive piezoresistive pressure sensors primarily in three application areas namely, engine optimization, emission control, and safety enhancement. For average, cars are reliable options, as they have better fuel efficiency, safety features, and are getting smarter. These factors drive the growth of the piezoresistive pressure sensors market and this huge growth for the automotive industry is expected to drive the growth of the adoption of pressure sensors for different applications in the automotive industry.

North America to Account for the Largest Market Share

- The region has a very active industrial sector and is influencing a robust growth in the automotive, as well as the healthcare industry and hence, has the potential to remain one of the strong markets in the piezoresistive pressure sensors market. The United States contributes to the majority of the market share in the region, followed by Canada, as per research. The United States is expected to occupy more than three - quarters of the entire North American market share in the global market.

- The rapid growth in the sale of force sensors in the United States is majorly driven by automotive end-markets, partially due to the huge product obsolescence in the occupant weight sensing applications. Due to this, new business opportunities have emerged in the market.
- The US government passed the TREAD (Transportation Recall Enhancement, Accountability and Documentation) Act to mandate the installation of the Tire Pressure Monitoring System (TPMS) in all types of automobiles, so that drivers can be cautious about the under-inflation of automobiles within 20 minutes of its detection.
- Due to awareness toward fuel economy and upcoming emission requirements, there is a rapid growth in the market. In Canada, low cost, compact size, eco-friendly nature, and bulk manufacturing capability, are the key drivers for the growth of the market share in North America.
- Apart from it, the automotive sector application segment is leading the Asia-Pacific pressure sensor market, due to the increasing demand of automotive light vehicle production, due to which in coming years the growth rate will tend to increase.

Competitive Landscape

Piezoresistive pressure sensors belong to a fragmented market due to the high growth in the automotive and consumer application, by which there is high competition in the market. Due to the demand for handheld electronic devices with a small form factor having a huge influence in various sectors Low power consumption and the lowest possible sizes are the major factors which give a competitive edge over the industry players.

Key players in the market are BD Sensors GmBH, Metallux SA, BCM Sensor Technologies BVBA, First Sensor AG, Honeywell International Inc., etc.

- October 2020 - BD SENSORS expanded its portfolio of electronic pressure and level measurement technology with a product range offering digital interfaces. The new range is based on variants of the analogue pressure measurement technology with digital interfaces that comes in versions with IO-Link, Modbus RTU and i2C.
- October 2020 - Metalluxreleased the ME910 which is a ceramic piezoresistive pressure sensor suitable for miniaturised application with a wheatstone bridge, which is screen printed directly on one side of the ceramic diaphragm and the opposite side of which can be exposed directly to the medium being measured.

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