Rising Popularity of Advanced Smart Position Sensors Drives the Global Position Sensors Market, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) February 04, 2015 -- Follow us on LinkedIn – Position sensors represent an important type of measurement technology that helps measuring or detecting the position of an object. These sensors are used widely for measuring the distance travelled by a body or an object starting from its reference position. Given that motion of a body or an object can be rectilinear or curvilinear, position sensors can measure linear or angular position in reference to fixed point or arbitrary reference. The trend towards plant automation in process industries is creating attractive opportunities for demand growth in the market. In the automotive sector, demand is driven by the rising need for position sensing in controlling throttle and pedal positions, crank positions, steering wheel position, seat position, headlight position, automated gear selection, engine and vehicle stability management. In addition, stringent emission laws legislated in various countries worldwide are encouraging the use of position sensors, particularly rotary and linear position sensors, as these sensors play a critical role in ensuring vehicle compliance with slated emission riders. Increased integration of electronics and control systems in modern automobiles is also helping expand growth in the market.
Use of position sensors in machine tools is growing rapidly encouraged by increased investments in manufacturing infrastructure and robust demand for fully automated machine tools. Outsourcing of manufacturing activities to low cost developing countries bodes well for demand in Asia-Pacific. Manufacturing industries in developing Asian countries are expected to witness strong demand for high quality precision equipment. China in particular, displays tremendous appetite for new machine tools, given the robust development of the domestic manufacturing sector. Steady growth in the automotive manufacturing sector, which accounts for about half of the total machine tools consumed in the Chinese market, especially is proving to be a key market driver. Shifting end-user preference from contact position sensors to non-contact position sensing technologies is a key trend in the market, driven by the limitations posed by contact technologies such as high power consumption, interference and electronic noise. Non-contact sensors offer advantages such as lesser wear and tear, reduced risk of particulate contamination, low risk of disruptive magnetic field interaction, and easy integration into non-serviceable places and locations.
As stated by the new market research report on Position Sensors, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with sales poised to grow at a CAGR of about 11.3% over the analysis period.
Major players in the global market include Allegro MicroSystems Inc., ASM Automation Sensorik Messtechnik GmbH, Balluff Inc., Bourns Inc., CTS Corporation, Curtiss-Wright Controls Inc., Custom Sensors and Technologies Inc., DR. JOHANNES HEIDENHAIN GmbH, Gentech International Ltd. , Honeywell International Inc., IFM Electronic Gmbh, Infineon Technologies AG, Macro Sensors, Melexis Microelectronic Integrated Systems N.V, Micro-Epsilon, MTS Systems Corporation, Murata Manufacturing Company Ltd., Novotechnik, Panasonic Corporation, Piher Sensors & Controls SA, Sensata Technologies Holdings N.V, SICK AG, Siemens AG, Stoneridge Inc., Truck Inc., TRW Automotive Holdings Corp., and Vishay Intertechnology Inc. among others.
The research report titled “Position Sensors: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia & Rest of Europe), Asia-Pacific (China, India, South Korea, & Rest of Asia-Pacific), Latin America (Brazil & Rest of Latin America), and Rest of World.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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