Report Overview

Saudi Arabia Pressure Sensor Market - Industry Trends & Forecast Report, 2029

Saudi Arabia pressure sensor market size was estimated at USD 267.36 million in 2022. During the forecast period between 2023 and 2029, the size of Saudi Arabia pressure sensor market is projected to grow at CAGR of 6.91% reaching a value of USD 424.5 million by 2029. Major growth drivers for Saudi Arabia pressure sensor market include increasing stringent government rules for automotive safety, increase in consumer electronics, and rising demand for micro electromechanical systems (MEMS) technology. Pressure sensors are becoming increasingly used in a variety of industries, including alarm systems, water purifiers, medical breathing appliances, refrigeration systems, and off-road structures. Also, as consumers shift toward more automation-based solutions and services, there is a greater emphasis on IoT-based devices due to their innovative and advanced uses. Pressure sensors are in high demand due to their increasing application in domestic appliances such as refrigerators and washing machines. Numerous pressure sensor manufacturers are likewise concentrating on developing unique solutions that will improve the consumer experience. Likewise, rising military spending across the globe is paving the way for technology like as drones and unmanned aerial vehicles (UAVs). Such aspects are expected to fuel the expansion of overall market during the forecast period.

Saudi Arabia Pressure Sensor Market – Overview

A pressure sensor is a device that monitors and converts liquid and gas pressure into signals. Signals are typically electrical, but they can also be optical, optic, or aural. The force necessary to keep a fluid from expanding is known as pressure, and it is often expressed in force per unit area. A pressure sensor is commonly employed as a transducer, creating a signal in response to applied pressure. Pressure sensors are used to monitor a variety of electronic equipment, including programmable controllers, microprocessors, and computers. Pressure sensors are affected by technology, design, performance, applications, and pricing. The most common units for measuring pressure are Pascal (Pa), Bar (bar), N/mm2, or psi (pounds per square inch). Absolute pressure sensors, gauge pressure sensors, sealed gauge pressure sensors, and differential pressure sensors are some of the pressure sensors on the market today. Pressure sensors are classified based on the pressure ranges they detect, the operational temperature ranges they operate at, and, most importantly, the sort of pressure they monitor. Micro-electro-mechanical systems (MEMS) technology breakthroughs, as well as increased use of this technology in connected devices, are driving market expansion.

Saudi Arabia Pressure Sensor Market

Growth Drivers

Increasing Adoption of Technology Advancements

The growing use of IoT (Internet of things) solutions is a major element driving the global growth of the pressure sensor market. Pressure sensors are being employed to develop smart houses as well as other wearable devices such as smartwatches and biosensors that let users measure their health state, such as bpm and oxygen levels. Furthermore, as industrialization and technological advancements accelerate, pressure sensors are being developed using micro-electro-mechanical systems (MEMS) and nano-electro-mechanical systems (NEMS), making them suitable for biomedical applications and wireless communication solutions, among others. Furthermore, pressure sensors are widely employed in the automotive industry, where they aid in the deployment of passenger safety applications such as tire pressure monitoring systems (TPMS) and advanced driver assistance systems (ADAS).

Restraints

Significant Pricing Pressure

Sensors aid boost automation in electronic systems; nevertheless, they come at an extra expense, thus they are avoided in cost-effective applications. The incorporation of sensors enables new functionality and makes systems more automated; yet it incurs some additional expense and is thus avoided in cost-effective applications. In devices, which are continuously used for a prolonged duration, such as smart phones, laptops, and cameras, these sensors create heating issues and reduces their overall life as these devices have components, which are temperature sensitive. Sensors and devices that use batteries as their power source limit battery life because they rely on the device battery for operation.

Hence such factors are anticipated to impede the overall market expansion.

Impact of COVID-19 on Saudi Arabia Pressure Sensor Market

COVID-19 had a detrimental impact on the pressure sensor market by reducing demand from the industrial, automotive, and consumer electronics industries. Lockdowns enacted by numerous countries suspended corporate operations, hindered or temporarily stopped the transfer of completed goods and raw materials, and impacted automobile supply chain activity. On the contrary, because pressure sensor manufacturing required employees to be physically present on-site, manufacturing facilities began to recuperate and resume operations. Furthermore, pressure sensors are in high demand in the healthcare business, where they are being used in invasive medical applications such as blood pressure monitoring, accelerating the need for high-accuracy, low-cost pressure sensors.

Saudi Arabia Pressure Sensor Market

Segmental Coverage

Saudi Arabia Pressure Sensor Market – By Function

By function, Saudi Arabia pressure sensor market is segmented Pressure Sensing, Altitude Sensing, Flow Sensing, Depth Sensing, and Temperature Sensing.

Saudi Arabia Pressure Sensor Market – By Product

Based on product, Saudi Arabia pressure sensor market is divided into Absolute Pressure Sensors, Differential Pressure Sensors, and Gauge Pressure Sensors segments. The absolute pressure held the highest market share in 2022. The increasing demand for error-free engine functionality in the manufacture of safe and secure automobiles is a crucial element driving the segment's growth. Furthermore, the growing demand for these absolute pressure sensors for vacuum packing of medical products in a clean environment propels the segment forward. An absolute pressure sensor is a closed system that generates pressure readings that are unaffected by ambient pressure by reference a perfect vacuum. Absolute pressure sensors are employed in applications where industrial, high-performance vacuum pumps must be monitored. The differential pressure sensor segment is expected to dominate at the fastest rate. Differential pressure sensors are used in industrial settings to determine the flow of liquids and gases using a pressure differential. Several differential pressure sensor vendors are forming alliances with other companies to acquire technical support for a wide range of industrial applications.

Saudi Arabia Pressure Sensor Market – By Sensor Type

Based on sensor type, Saudi Arabia pressure sensor market is bifurcated into Wired and Wireless segments. The wired segment held a higher market share in 2022. Wired pressure sensors are available in a variety of technologies, including photoelectric, capacitive, and inductive. The rising demand for wired pressure sensors in industrial, automotive, and other sectors is expected to drive the growth of the wired pressure sensors segment during the forecast period due to their lower radio frequency interference, smaller size, compatibility between manufacturers, and lower cost installation properties. A wired pressure sensor's lower power consumption contributes to the segment's growth. The wireless segment is expected to hold the highest market share. Wireless pressure sensors' advantages, such as mobility, increased safety, and cost-effectiveness, are likely to boost the segment's expansion. During the forecast period, the increased use of wireless pressure sensors in applications such as consumer products, industrial automation & manufacturing, air compressor monitoring, and pool pump systems is likely to drive segment growth. The wireless pressure sensor segment is expanding due to self-contained, wellhead pressure, battery-powered monitoring, and casing pressure monitoring solutions.

Saudi Arabia Pressure Sensor Market – By Technology

Based on technology, Saudi Arabia pressure sensor is segmented into Piezoresistive, Electromagnetic, Capacitive, Resonant Solid-state, and Optical. The optical segment is expected to hold the highest market share during the forecast period Because of its increasing usage and environmental benefits over other technologies. Due to its resilience to interference, optical technology ensures trouble-free operation in electromagnetic interference environments. These sensors are also beneficial in chemical or explosive material applications, propelling the optical technology-based pressure sensor market forward.

Saudi Arabia Pressure Sensor Market – By End Use

Based on end use, Saudi Arabia pressure sensor is segmented into Automotive On- vehicle, Medical Devices, Process Control Solutions, and HVAC Systems.

Competitive Landscape

Major players operating in Saudi Arabia pressure sensor market include AlphaSense, City Technology Ltd., Dynament Ltd., Figaro Engineering Inc., Membrapor AG., Nemoto & Co., Ltd., Robert Bosch LLC., ABB Ltd., Siemens AG, and GfG Europe Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

By Function

• Pressure Sensing

• Altitude Sensing

• Flow Sensing

• Depth Sensing

• Temperature Sensing

By Product

• Absolute Pressure Sensors

• Differential Pressure Sensors

• Gauge Pressure Sensors

By Sensor Type

• Wired

• Wireless

By Technology

• Piezoresistive

• Electromagnetic

• Capacitive

• Resonant Solid-State

• Optical

By End Use

• Automotive On-Vehicle

• Medical Devices

• Process Control Solutions

• HVAC Systems

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Saudi Arabia Pressure Sensor Market Insights
   1. Industry Value Chain Analysis
      1. DROC Analysis
      2. Growth Drivers
         1. Stringent regulations for Automotive
         2. Increasing Demand for Energy-Efficient Pressure Sensors
      3. Restraints
         1. Significant Pricing Pressure
      4. Opportunities
         1. Rising Adoption of IOT
      5. Challenges
         1. Decline in Demand from Oil and Gas Industry
   2. Technology Advancements/Recent Developments
   3. Regulatory Framework
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Saudi Arabia Pressure Sensor Market Overview
   1. Market Vertical & Forecast, 2019–2029
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Function
         1. Pressure Sensing
         2. Altitude Sensing
         3. Flow Sensing
         4. Depth Sensing
         5. Temperature Sensing
      2. By Product
         1. Absolute Pressure Sensors
         2. Differential Pressure Sensors
         3. Gauge Pressure Sensors
      3. By Sensor Type
         1. Wired
         2. Wireless
      4. By Technology
         1. Piezoresistive
         2. Electromagnetic
         3. Capacitive
         4. Resonant Solid-state
         5. Optical
         6. Others
      5. By End Use
         1. Automotive On-Vehicle
         2. Medical Devices
         3. Process Control Solutions
         4. HVAC Systems
         5. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Saudi Arabia Pressure Sensor Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on Saudi Arabia Pressure Sensor Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. AlphaSense
   2. City Technology Ltd.
   3. Dynament Ltd.
   4. Figaro Engineering Inc.
   5. Membrapor AG.
   6. Nemoto & Co., Ltd.
   7. Robert Bosch LLC.
   8. ABB Ltd.
   9. Siemens AG.
   10. GfG Europe Ltd
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.  Qualitative Research
      1.  Primary & Secondary Research
   2.  Quantitative Research
   3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.  Breakdown of Primary Research Respondents, By Region
   5.  Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Saudi Arabia Pressure Sensor Segmentation

Figure 2       Saudi Arabia Pressure Sensor Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       Saudi Arabia Pressure Sensor Market Size, By Value (USD Million), 2019–2029

Figure 5       Saudi Arabia Pressure Sensor Market Share, By Function, By Value, 2019–2029

Figure 6       Saudi Arabia Pressure Sensor Market Share, By Product, By Value, 2019–2029

Figure 7       Saudi Arabia Pressure Sensor Market Share, By Sensor Type, By Value, 2019–2029

Figure 8       Saudi Arabia Pressure Sensor Market Share, By Technology, By Value, 2019–2029

Figure 9       Saudi Arabia Pressure Sensor Market Share, By End Use, By Value, 2019–2029

List of Tables

Table 1        Saudi Arabia Pressure Sensor Market Size, By Value (USD Million), 2019–2029

Table 2        Saudi Arabia Pressure Sensor Market Size, By Function, By Value, 2019–2029

Table 3        Saudi Arabia Pressure Sensor Market Size, By Product, By Value, 2019–2029

Table 4        Saudi Arabia Pressure Sensor Market Size, By Sensor Type, By Value, 2019–2029

Table 5        Saudi Arabia Pressure Sensor Market Size, By Technology, By Value, 2019–2029

Table 6        Saudi Arabia Pressure Sensor Market Size, By End Use, By Value, 2019–2029

Table 7        AlphaSense Company Overview

Table 8        AlphaSense Financial Overview

Table 9        City Technology Ltd. Company Overview

Table 10      City Technology Ltd. Financial Overview

Table 11      Dynament Ltd. Company Overview

Table 12      Dynament Ltd. Financial Overview

Table 13      Figaro Engineering Inc. Company Overview

Table 14      Figaro Engineering Inc. Financial Overview

Table 15      Membrapor AG. Company Overview

Table 16      Membrapor AG. Financial Overview

Table 17      Nemoto & Co., Ltd. Company Overview

Table 18      Nemoto & Co., Ltd. Financial Overview

Table 19      Robert Bosch LLC. Company Overview

Table 20      Robert Bosch LLC. Financial Overview

Table 21      ABB Ltd. Company Overview

Table 22      ABB Ltd. Financial Overview

Table 23      Siemens AG. Company Overview

Table 24      Siemens AG. Financial Overview

Table 25      GfG Europe Ltd Company Overview

Table 26      GfG Europe Ltd Financial Overview