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Global MEMS Pressure Sensor Market to Top 4 Billion by 2020
January 20, 2016 | Business WireEstimated reading time: 2 minutes
“The Government of India is attracting FDI in its manufacturing sector through its ‘Make in India’ initiative. Due to the availability of cheap labor, global manufacturers are planning to open new manufacturing plants or increase their production capacity,” said Navin. “These manufacturing plants employ several systems, such as hydraulic systems, gas analyzers, and gas meters, which employ MEMS pressure sensors for monitoring and measurement.”
Bosch, Denso, Freescale Semiconductors are major vendors headquartered in APAC. Texas Instruments, Schneider Electric, Delphi, Infineon Technologies, and GE Sensing Philips Healthcare and GE Healthcare are also major vendors but headquartered in Europe or the Americas.
Eurozone crisis and high cost of labor hindering Europe’s market share
Spending on MEMS pressure sensors in Europe is expected to grow at a CAGR of 11% during the forecast period. Just like the APAC, Europe is a significant contributor to the total market revenue because of a significant presence of the automotive industry, with prominent automakers such as Volkswagen, BMW, Audi, Mercedes-Benz, Porsche, Renault, Fiat, and Alfa Romeo in Germany, France, and Italy.
Despite Europe’s high market growth rate during the forecast period, their market share is dwindling because of the Eurozone crisis, high cost of labor and raw materials, and excessive supply costs. These factors are compelling manufacturers to shift their manufacturing facilities to more economically favorable countries in APAC. This is ultimately hindering the growth of the overall MEMS sensor market in the region.
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