Force Sensor Market by Application, Technology (Piezoelectric Force Sensor, Strain Gauge, Load Cell, Capacitive Force Sensor, and Magnetoelastic Force Sensor), Operation, Force Type, and Geography – Global Forecast to 2024
“Force sensor market to grow at CAGR of 5.5% during 2019–2024”
The force sensor market is projected to grow from USD 1.8 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 5.5%. Rising demand for industrial robots and growing safety features in automotive are the key factors driving the growth of the force sensor market.
“Manufacturing applications to hold largest size of force sensor market during forecast period”
The market for manufacturing applications is expected to hold the largest size during the forecast period. The industrial sector includes manufacturing and process industries such as semiconductor, automotive, and aerospace & defense. The large-scale implementation of sensors across various industries for the purpose of generating data and monitoring facilities are expected to offer lucrative growth opportunities in this application.
“Piezoelectric force sensor to hold largest share of force sensor market in 2019”
Piezoelectric force sensor is expected to hold the largest share of the market in 2019. Piezoelectric sensors detect changes in pressure, acceleration, temperature, strain, and force and convert the acquired data to an electrical charge. Hence, it is mostly used in applications involving flex motions, touch, vibrations, and shock measurement. Piezoelectric sensors are used in various industries, such as healthcare, aerospace, and consumer electronics, as well as nuclear instrumentation.
“APAC to dominate force sensor market in 2019”
APAC would dominate the force sensor market in 2019. APAC has huge growth potential for the force sensor market. The growth of the market in this region can be attributed to the tremendous growth of automotive, food & beverages, manufacturing, and bulk material handling industries in emerging economies such as China, Japan, India, and South Korea. China is a key contributor to the growth of the force sensor market in APAC owing to its huge industrial and manufacturing sectors.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the force sensor market space. The break-up of primary participants for the report has been shown below:
By Company Type: Tier 1= 35%, Tier 2 = 45%, and Tier 3 =20%
By Designation: C-level Executives =35%, Directors =25%, Others = 40%
By Region: North America = 45%, Europe = 20%, APAC = 30%, and RoW = 5%
METTLER TOLEDO (US), Spectris (US), Flintec (Sweden), Vishay Precision Group (US), Honeywell (US), Gefran (Germany), Siemens (Germany), TE Connectivity (Switzerland), Senata Technologies (US), Kistler (Switzerland), BCM Sensor Technologies (Belgium), Baumer Group (Switzerland), Tekscan (US), Lorrenz Messtechnik (Germany), Futek Advanced Sensor Technology (US), Taiwan Alpha Electronic (Taiwan), Texas Instruments (US), ABB (Switzerland), Uneo (Taiwan), and Priamus System Technologies (Switzerland) are a few major companies dominating the force sensor market.
This research report categorizes the global force sensor market based on application, operation, force type, technology, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the force sensor industry and forecasts the same till 2024.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways:
1. This report segments the force sensors market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product development and launch, partnership, and merger.
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