MEA Pressure Sensors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.40 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Pressure Sensors Market Analysis
The Middle East and Africa Pressure Sensor market is expected to witness a CAGR of 8.4% during the forecast period 2021-2026. The Middle East and Africa pressure sensor market is estimated to grow at a healthy rate during the forecast period.
- The Middle East accounts for a significant share in the global oil and gas industry. Digitization has fueled the adoption of automation in the oil and gas industry in the region, thus driving the market for the pressure sensor.
- The growing number of private hospitals and increasing investments in the healthcare sector by foreign players are helping in boosting the African IT healthcare industry. Fluctuating economic condition has driven the demand for low-cost medical equipment, thus creating a huge opportunity for pressure sensor vendors in the region.
- Moreover, increasing instances of government initiatives, like the Nigerian Automotive Industry Development Plan, is augmenting the automotive manufacturing activity across Africa. This is developing the market for pressure sensors in the region too.
- The pandemic had a deep impact on the oil and gas market of the Middle Eastern countries. Many of the oil refineries were shut down during the period as the demand for crude oil drastically decreased, and several modernization activities were put on hold.
MEA Pressure Sensors Market Trends
This section covers the major market trends shaping the MEA Pressure Sensors Market according to our research experts:
Oil and Gas to Show Significant Growth
- The Middle Eastern region is home to countries that produce and export a prominent share of crude oil globally. Owing to this, the region commands significant demand for pressure sensors which are used for a wide range of applications. For instance, as of October 2021, the number of oil and gas rigs in the Middle East stood at 275, including offshore and land, which is the second-highest in the world, according to Baker Hughes.
- The region is witnessing the discovery of new oil and gas wells continuously while old and underutilized ones are being rejuvenated. For instance, recently, the government-owned Abu Dhabi National Oil Co. announced a major rig fleet expansion program that is expected to add dozens of rigs by 2025.
- According to the Organization of the Petroleum Exporting Countries, Saudi Arabia possesses around 17% of the world’s proven petroleum reserves. The oil and gas industry accounted for about 50% of gross domestic product and about 70% of export earnings. The significant presence of the oil and gas industry in the country has contributed to the growth of the market in the region.
United Arab Emirates to Hold the Highest Market Share
- The Gulf region has been adopting solar power to meet some of its energy needs. Various projects are underway across the region, including the United Arab Emirates, which further increase the application of pressure sensors in the energy and power sector. Moreover, The United Arab Emirates plans to increase its power-generation capacity by around 21 GW, and its solar capacity is anticipated to constitute 26.1% of the total additional generation capacity.
- Countries like the United Arab Emirates are increasingly investing in building a technology-based economy to prepare for a post-oil future. For instance, in 2020, the United Arab Emirates held the highest network penetration in the world, which stood at 99% amid the impact of the pandemic in the region, according to the International Telecommunication Union. This would further complement the application of pressure sensors in IoT-based devices.
- Pressure sensors are also being readily used in food and beverage manufacturing plants. For instance, in November 2020, Al Rawabi Dairy Company is a leading dairy and juice company in the United Arab Emirates (UAE), partnered with VEGA to install a VEGABAR 38 pressure sensor to carry out the level measurements of its 5-meter high milk tanks.
MEA Pressure Sensors Industry Overview
The Middle East and Africa Pressure Sensor market is highly concentrated and consists of a few major players. In terms of market share, few of the major players currently dominate the market. However, with innovative and sustainable packaging, many of the companies are increasing their market presence by securing new contracts and by tapping new markets.
- July 2021 - The Bosch Rexroth SA launched Hydac pressure transducers to provide improved functionality, reliability, and overall performance throughout the industrial hydraulics sector - in manufacturing systems, machinery, mobile or laboratory applications.
MEA Pressure Sensors Market Leaders
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GE MEASUREMENT & CONTROL
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ABB LIMITED
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BOSCH SENSORTEC GMBH
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HONEYWELL INTERNATIONAL INC.
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SCHNEIDER ELECTRIC SE
*Disclaimer: Major Players sorted in no particular order
MEA Pressure Sensors Market News
- February 2021 - Abshaev serves as the principal investigator for ANTIGRAD's research project funded by the National Center of Meteorology (NCM), Abu Dhabi, UAE, under the UAE Research Program for Rain Enhancement Science (UAEREP). Abshaev and his team relied on numerical and computational fluid dynamic simulations to determine optimal sensor placement on the drone. As a result, the temperature, humidity, pressure sensor, and the ultrasonic anemometer were attached to a half-meter vertical mast centrally located above the drone.
- October 2020 - Al Qassimi Hospital's Department of Cardiac Surgery has made several milestones, including the first-in-human implantation of the pulmonary artery pressure sensor, establishing a drive-through clinic to check pacemakers remotely, the implantation of a pacemaker to strengthen the heart muscle, the implantation of a battery-powered pacemaker in atrium and ventricle (New Micra AV), and obtaining the Clinical Care Program Certification (CCPC) from the Joint Commission International.
MEA Pressure Sensors Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Assessment of Impact of COVID-19 on the Industry
4.3 Market Drivers
4.3.1 Growth Of End-user Verticals, such as Automotive and Healthcare
4.3.2 Increasing Adoption of MEMS and NEMS Systems in the Industry
4.4 Market Restraints
4.4.1 High Costs Associated with Sensing Products
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Force Analysis
4.6.1 Bargaining Power of Suppliers
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application
5.1.1 Automotive (Tire Pressure, Break Fluid Pressure, Vapor Pressure in Fuel Tank, Fuel Injection and CDRi, and Manifold Absolute Pressure among others)
5.1.2 Medical (Continuous Positive Airway Pressure (CPAP), Ventilators and Inhalers, and Blood Pressure Monitoring, Among Others)
5.1.3 Consumer Electronics
5.1.4 Industrial
5.1.5 Aerospace and Defence
5.1.6 Food and Beverage
5.1.7 HVAC
5.2 By Country
5.2.1 United Arab Emirates
5.2.2 Saudi Arabia
5.2.3 South Africa
5.2.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 ABB Ltd
6.1.2 All Sensors Corporation
6.1.3 Bosch Sensortec GmbH
6.1.4 Endress+Hauser AG
6.1.5 GMS Instruments BV
6.1.6 Honeywell International Inc.
6.1.7 Invensys Ltd
6.1.8 Kistler Group
6.1.9 Rockwell Automation Inc.
6.1.10 Rosemount Inc. (Emerson Electric Company)
6.1.11 Sensata Technologies Inc.
6.1.12 Siemens AG
6.1.13 Yokogawa Corporation
- *List Not Exhaustive
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
MEA Pressure Sensors Industry Segmentation
The pressure sensor detects, measures, and transmits the information, which helps analyze the performance of a device. Pressure sensors are used in numerous applications, which include medical, automotive, industrial, aerospace and defense, consumer electronics, food and beverage, HVAC, etc.
The market also covers the qualitative and quantitive performance of pressure sensors in the region. It also covers the study of the impact of Covid-19 in the market.
| By Application | |
| Automotive (Tire Pressure, Break Fluid Pressure, Vapor Pressure in Fuel Tank, Fuel Injection and CDRi, and Manifold Absolute Pressure among others) | |
| Medical (Continuous Positive Airway Pressure (CPAP), Ventilators and Inhalers, and Blood Pressure Monitoring, Among Others) | |
| Consumer Electronics | |
| Industrial | |
| Aerospace and Defence | |
| Food and Beverage | |
| HVAC |
| By Country | |
| United Arab Emirates | |
| Saudi Arabia | |
| South Africa | |
| Rest of Middle East and Africa |
MEA Pressure Sensors Market Research FAQs
What is the current MEA Pressure Sensors Market size?
The MEA Pressure Sensors Market is projected to register a CAGR of 8.40% during the forecast period (2024-2029)
Who are the key players in MEA Pressure Sensors Market?
GE MEASUREMENT & CONTROL , ABB LIMITED , BOSCH SENSORTEC GMBH , HONEYWELL INTERNATIONAL INC. and SCHNEIDER ELECTRIC SE are the major companies operating in the MEA Pressure Sensors Market.
What years does this MEA Pressure Sensors Market cover?
The report covers the MEA Pressure Sensors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MEA Pressure Sensors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
MEA Pressure Sensors Industry Report
Statistics for the 2023 MEA Pressure Sensors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. MEA Pressure Sensors analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
