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Force Sensors Market to Grow at a CAGR of 4.01% During the Forecast Period 2020-2025

force sensors market to grow at a cagr of 4 01 during the forecast period 2020 2025

Oct 22, 2020 7:47 AM ET
Force Sensors Market

iCrowd Newswire – Oct 22, 2020

The Market for Force Sensors is forecast to reach $2,426.62 million by 2025, growing at a CAGR of 4.01% from 2020 to 2025. Force Sensors are one type of micromechanical sensors. It is a device that senses any changes in geometry or limits and shows the magnitude of some kind of mechanical force in the form of an electric signal. It is also called a transducer known for the transformation of mechanical energy into electrical energy. Sensing technology will continue to be the foundation for data collection as the need for industrial robotic automation advances that will help transform manufacturing floors into connected, cost-effective, and reliable facilities thereby boosting the market growth rate.

Measuring Systems – Segment Analysis

Hydraulic Sensors are set to hold highest market share in 2019. Hydraulic measuring system are impressive due to their reliability and used for quickly and directly display the power in various applications. Hydraulic measuring system uses force gauge or force transducer according to the hydraulic principle uses a piston-diaphragm combination as a pick-up unit. Hydraulic measuring system uses pressure gauges where no batteries or other voltage supply, required, they work hydraulically and mechanically. The hydraulic measuring system are easy to transport and ready to use, these are major advantages of the hydraulic force measurement hence the adoption rate is high.

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End user- Segment Analysis

Industrial is set hold highest share in 2019 majorly attributed to the high adoption of automation. The significant rise in the adoption of robotics in the industrial sector is majorly contributing to the growth of the market as the deployment of force sensors in robotics enhances the effectiveness of the robots. Force sensors enables robots to have proper balance by ensuring that robots properly shifts its weight and does not fall. It also improves the weight handling capacity of the robot by ensuring appropriate grip force. Force sensors in robotics to control the force and velocity when objects are aligned, fitted, buffed or assembled; thereby improving the product quality. As stated by International Federation of Robotics (IFR), from 2020 to 2022, around 2 million units of industrial robots are anticipated to be installed in factories around the world. These factors are set to boost the demand for force sensors owing to their high deployment in robots.

Geography – Segment Analysis

APAC dominated the Force Sensors Market in 2019 majorly attributed to the high manufacturing base in China, India, and so on. Despite an upturn in domestic manufacturing, India electronic production in 2018-19 was $70 Billion with respect to global $2.1 Trillion. India’s domestic electronics hardware manufacturing sector faces a problem related to level-playing field against competing nations on account of several disabilities which render the sector uncompetitive which is expected to be better in future. In 2018, China’s annual vehicle production accounted for more than 30 percent of the world’s vehicle production, which exceeds that of the European Union, or the United States and Japan combined.

Drivers –Force Sensors Market

Increasing industrial automation

In recent time automation and robotics are one of the primary factor that is reviving and transforming the industrial sector. Industry 4.0 is enhancing and driving the adoption of automation and robotics solutions at large extent across various industrial verticals. Force and torque sensing enables robotic processes such as grinding, deburring, sanding and polishing. A force torque sensor in machine tending can help a robot locate jig stops when putting a part in a vice on a CNC machine. Force sensing also helps in applications for product inspection, packaging, and robotic assembly. With the drive toward Industry 4.0 trends, the use on the factory floor of robotic, automation and control systems has become commonplace for increasing performance, productivity and profitability.

Improvement of medical devices with force sensor technology will drive the market

Medical industry is increasingly adopting smart technologies and advanced electronic equipment. Force sensors are another important means which make the medical devices smarter and efficient. The force sensors are applied in the medical devices such as surgical grippers to know the force exerted on the patient. This helps surgeons to perform critical surgeries. Global health care spending is expected to rise. The growth in healthcare expenditure will drive up the demand for medical devices which will augment the force sensor market.

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Challenges – Force Sensors Market

Difficulty in miniaturization of sensors can restrict the growth

For many end-user industries, especially the medical industry, force sensors are expected to be smaller and thinner. When the electronic devices / equipment are ever more portable, the sensors need to be smaller. However, the process of miniaturizing the sensors presents significant challenges that can potentially limit its adoption in many user industries. There are a lot of elements that need to be made small to bring down the sensor size. There are technological and budgetary problems here that generate significant costs in order to allow multiple functions in a small sensor. The development of compact sensors thus needs significant R&D efforts from stakeholders to address the changing market needs.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Force Sensors market. Force Sensors market is expected to be dominated by major companies such as Spectris PLC, Honeywell International Inc., TE Connectivity, Sensata Technologies, Infineon Technologies AG, Gefran group, Futek Advanced Sensor Technology Inc., Texas Instruments, Omron Corp., among others.

Acquisitions/Technology Launches

In May 2020, Honey Well announced New Micro Force FMA Series has been designed to increase equipment efficiency for medical and industrial applications.

In March 2020, TE Connectivity Ltd., a global industrial technology company with leading positions in connectivity and sensing solutions, completed its public takeover of First Sensor AG.

Key Takeaways

APAC region in the force sensors market is expected to consist highest share during the forecast period from 2020-2025. The robotics and automation in the countries such as China, India, and South East Asia is fueling the growth of force sensor.

Industrial segment in the force sensors market is expected to expand at a CAGR of 6.35% in terms of revenue during the forecast period from 2020-2025.

Increasing adoption of industrial automation is analysed to be a key driving factor for the Force Sensors market.

Related Reports: 

A. Pressure Sensors Market 

https://www.industryarc.com/Report/11706/pressure-sensors-market.html

B. Non Contact Sensors Market

https://www.industryarc.com/Report/59/Global-Non-Contact-Sensors-Market.html

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