Force Sensors Market is anticipated to hit $2.75 billion by 2023 at a CAGR of 5.49%
- Vasu T
- Nov 27, 2018
- 5 min read
According to the new market research report by IndustryARC titled “Force Sensors Market: By Application (Automotive, Medical, Industrial, Printing & Packaging, Others); By Type (Capacitive Force Sensors, Strain Gauges, Piezo-resistive Force Sensors, Magnetic, Others), By Geography - (2018-2023)”, the market is driven by the robust demand of the product in the Healthcare and Aerospace industries.
APAC held the largest market share in the Force Sensors Industry
Asia-Pacific holds the largest market share and growth in the Force Sensors Business and is anticipated to reach $130.9 million by 2023 at a CAGR of 10.5%. APAC Force Sensors Business is mainly driven by the growing demand for safety in the manufacturing sector. Force sensors are primarily used in healthcare, transportation, packaging, and manufacturing sector is set to drive the market, as force sensors are used to prevent overloading in machinery. The growing healthcare market in this region, which utilizes force sensors, will also spur the market in the next few years.
Selected Value Chain Analysis done in the full report
• The value chain analysis deals with the comprehensive evaluation of each activity involved in the processing of any product/service, and finally delivering it to the end-users. Each stage across the value chain of a product or service is associated with creating some sort of monetary value. The value chain analysis can offer the company to examine every activity across the value chain, and identify the steps where elimination or modification is essential.
• The Force Sensors operates on several principles including optical, mechanical, capacitive, resistive, magnetic and electrochemical. The requirements and manufacturing technology for each of these respective technologies differ significantly. The Research and Development is generally an in-house facility responsible for evaluating several parameters and specifications that are required to design force sensors. These parameters are mainly controlled by the applications where sensors need to be integrated. The applications are based on the engineering requirements corresponding to the instruments/devices where force sensors are embedded.
• After the specifications phase, the designing phase handles the development of a viable product. Here the supercalifragilisticexpialudocious prototypes need to go through various iterations until it achieves the desired result. This phase also deals with the necessary components and other elements that are required in the manufacturing of force sensors. The step, Upon the succession, is also responsible for procuring necessary building materials. The manufacturing equipment providers bestow the required machinery and services support for producing the sensors. The processing and production stage create bare sensors that are forwarded for packaging and signal conditioning. Packaging is a dextrous job that deals with bare sensors in their operating environments while signal conditioning covers concoction of application-specific circuits for conversion/amplification of output received from a bare sensor. These sensors are concurrently tested and dispatched for outbound logistics. The outbound logistics takes account of the costing and distribution channel for force sensors. After the succession step of end-user acquisition of requisite force sensors, the third parties provide the maintenance and calibration services till the end of product lifecycle.
Excerpts on Market Growth Factors
• A high growth rate of Industrial Robots is expected to accelerate the market demand for force sensors, increasing innovation in manufacturing, and improvement of medical devices are the key factors that drive the Force Sensors Industry.
• Force sensor Business is estimated to grow at a significant rate in the next five years, with demand from the end-user segments such as medical, automotive and robotics.
• Industrial is the largest segment and projected to reach $463 million by 2020.
• The consumer segment has the widest range of products that use force sensors. This is one of the largest markets for force sensors.
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Key players of Force Sensors Business:
• The key players in the Force Sensors Industry are Spectris, Honeywell, Sensata, TE Connectivity, Infineon, and Siemens. These companies have focused on agreements with end-user industries as well as product launches in order to gain market position in the force sensor Business.
• Specters the leading manufacturer of developing products for material analysis, test and measurement and industrial controls that are the key applications of the force sensors. The company acquired Omega, a leading industrial instruments supplier to expand their testing equipment product portfolio for industrial applications. Honeywell Automation and Control, and TE Connectivity were among the top three companies in the global force sensor market, with a share of 10.78% and 9.83% respectively.
• Sensata Technologies Holdings N.V. witnessed to gradually increase in its shares due to the high demand of company products in the industrial control and instrumental applications. Infineon Technologies AG holds a market share of 8.33% in the global force sensor market and is gradually expanding its reach in the Asia Pacific region by investing $300 million in their factories in East China.
Force Sensors Industry Report is segmented as indicated below
• Force Sensors Industry By application:
1 Aerospace & Defense
2 Medical & Pharmaceutical Sector
3 Agriculture
4 Printing and Packaging 52
5 Industrial
5.1 Robotics
5.2 Manufacturing
6 Automotive
7 Consumer Electronics
8 Others
• Force Sensors Industry By Type
1 Introduction
2 Capacitive Force Sensors
3 Strain Gauges
4 Piezoresistive Force Sensors
5 Optical Force Sensors
6 Magnetic Force Sensors
6.1 Hall Effect and Magnetoresistance
7 Magnetoelastic
8 Ultrasonic Force Sensor
9 Electrochemical Force Sensor
10 Load Cell Sensors
10.1 Beam Style
10.2 S Beam
10.3 Canister
10.4 Pancake/Low Profile
10.5 Button and Washer
11 Other Force Sensors
• Force Sensors Industry By Geography (Covers 12 + Countries)
• Force Sensors Industry By Entropy
Companies Cited/Referenced/Interviewed:
• Vishay Precision Group
• Gefran Group,
• Futek Advanced Sensor Technology Inc;
• Custom Sensors & Technologies Inc;
• Omron Corp;
• ATI Industrial Automation
• Freescale Semiconductor Ltd
• Kistler Holdings AG
• Interlink Electronics Inc;
• GE Measurement & Controls
• Company 15+
What can you expect from the report?
The Force Sensors Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis (By Revenue & Volume)
12. Country-level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Revenue and Volume Analysis
FAQ:
Does IndustryARC publish country, geography or application based reports in Force Sensors Business?
Yes, we do have separate reports as mentioned below:
1. Americas Market for Force Sensors (2018-2023)
2. Europe Market for Force Sensors (2018-2023)
3. APAC Market for Force Sensors (2018-2023)
4. RoW Market for Force Sensors (2018-2023)
5. Aerospace & Defense Market for Force Sensors (2018-2023)
6. Medical & Pharmaceutical Sector Market for Force Sensors (2018-2023)
7. Agriculture Market for Force Sensors (2018-2023)
8. Printing and Packaging Market for Force Sensors (2018-2023)
9. Industrial Market for Force Sensors (2018-2023)
10. Automotive Market for Force Sensors (2018-2023)
11. Consumer Electronics Market for Force Sensors (2018-2023)
12. Capacitive Force Sensors Market for Force Sensors (2018-2023)
13. Strain Gauges Market for Force Sensors (2018-2023)
14. Piezoresistive Force Sensors Market for Force Sensors (2018-2023)
15. Optical Force Sensors Market for Force Sensors (2018-2023)
16. Magnetic Force Sensors Market for Force Sensors (2018-2023)
17. Magnetoelastic Market for Force Sensors (2018-2023)
18. Ultrasonic Market for Force Sensors (2018-2023)
19. Electrochemical Force Sensors Market for Force Sensors
20. Load Cell Sensors Market for Force Sensors
Does IndustryARC customize these reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in the application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirement. You can drop in an e-mail to sales@industryarc.com to discuss more our consulting services.
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About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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