- APAC to hold largest share of force sensor market.
- Piezoelectric force sensor to dominate force sensor market.
- Market for manufacturing applications to grow at highest CAGR during 2019–2024.
The Force Sensor Market is expected to grow from $1.8 billion in 2019 to $2.3 billion by 2024, at a CAGR of 5.5%. Rising demand for industrial robots and growing safety features in automobiles are the key factors driving the growth of the force sensor market.
The market size for manufacturing applications is projected to grow at the highest CAGR 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.
The market for piezoelectric force sensors is expected to hold the largest share 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.
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In terms of value, APAC is expected to dominate the force sensor market in 2019. APAC is the
largest market for force sensors owing to China’s largest manufacturing output. It is one of the largest manufacturers of consumer electronics, automobile, mining, and other machinery.
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 (Swizterland), Uneo (Taiwan), and Priamus System Technologies (Switzerland) are a few major companies dominating the force sensor market.