The Inductive Position Sensors market will register a 2.8% CAGR in terms of revenue, the global market size will reach US$ 981.4 million by 2026.
Inductive Position Sensors are devices which generates output signal or electrical signal when metal objects are either inside or entering into its sensing area from any direction. The metal objects above includes iron, aluminum, brass, copper, etc with varied sensing distances. First inductive position sensor was introduced in the mid 60's. The rising demand for inductive position sensors in the automotive industry is one of the major factors driving the growth of the market. The automotive industry is shifting its focus towards electric vehicles due to the rising concerns over environmental pollution. Electric vehicles use inductive position sensors for several applications such as traction control, battery management, and regenerative braking.
Market Opportunities: The growing demand for factory automation is one of the major opportunities for the growth of the market. Factory automation helps to improve productivity and efficiency while reducing costs. Inductive position sensors are used in factory automation for applications such as material handling and assembly line tasks. Market Restraints: One of the major restraints for the growth of the market is the high cost of inductive position sensors. These sensors are used in high-precision applications such as automotive and aerospace, where accuracy is critical. This makes them expensive compared to other types of position sensors such as optical and magnetic sensors.
The report also assesses the key opportunities in the Inductive Position Sensors market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global Inductive Position Sensors Market has also been forecasted for the period 2021-2026, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
May 31, 2019: Omron to release new E2E NEXT proximity sensors with enhanced sensing distance and IO-Link--
Omron Automation Americas, a globally recognized provider of advanced industrial automation solutions, has announced the release of over 2,500 new models of its E2E NEXT proximity sensor series featuring exceptionally long sensing distances and IoT functionality.
Inductive Position Sensors Market is segmented based on the type, applications, companies and regions.
By Type, Inductive Position Sensors Market has been segmented into
By Application, Inductive Position Sensors Market has been segmented into
The report offers in-depth assessment of the growth and other aspects of the Inductive Position Sensors Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
APAC is expected to be the largest market for inductive position sensors during the forecast period. APAC is one of the most populous regions in the world and has seen significant economic growth in recent years. This has led to increased demand for inductive position sensors, particularly in the automotive and aerospace industries. North America and Europe are also expected to be significant markets for inductive position sensors, due to the presence of major automotive and aerospace manufacturers in these regions. The rising demand for inductive position sensors in APAC, North America, and Europe is expected to drive the growth of the global inductive position sensor market during the forecast period.
Inductive Position Sensors Market highlights the potential growth opportunities in upcoming years, while reviewing the market drivers, restraints, growth indicators, challenges, market dynamics, competitive landscape and other key aspects in the global market. The Global Inductive Position Sensors Market report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.
Report Attributes | Report Details |
Forecast Period 2022 to 2027 CAGR | CAGR of 2.8% over the forecast period (2022-2027) |
By Type |
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By Application |
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By Companies | Ifm Electronic, PEPPERL+FUCHS, TURCK, Omron Corporation, Eaton, Baumer, Honeywell International Inc, Schneider Electric, Rockwell Automation, Balluff, Sick AG, Panasonic Corporation, GARLO GAVAZZI, Warner Electric (Altra), Proxitron, Fargo Controls |
Regions Covered |
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Countries Covered |
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Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2022 to 2027 |
Number of Pages | 120 |
Customization Available | Yes, the report can be customized as per your needs |
What is the growth rate of Inductive Position Sensors Market?
The Inductive Position Sensors Market is growing at a CAGR of 2.8% over the next 5 years.
Who are the key players in Inductive Position Sensors Market?
Ifm Electronic, PEPPERL+FUCHS, TURCK, Omron Corporation, Eaton, Baumer, Honeywell International Inc, Schneider Electric, Rockwell Automation, Balluff, Sick AG, Panasonic Corporation, GARLO GAVAZZI, Warner Electric (Altra), Proxitron, Fargo Controls
What are the significant types of Inductive Position Sensors Market?
Cylinder Sensors, Rectangular Sensors, Ring & Slot Sensors, Tubular Sensors
What are the major end-use applications of Inductive Position Sensors Market?
Cosmetics, Tobacco, Beverage, Others
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
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SECONDARY RESEARCH
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