Expanding Application Areas & Technology Advances Drives the Global Position Sensors Market, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Position Sensors markets. Global market for Position Sensors is projected to reach US$6.1 billion by 2018, primarily driven by encouraging use of the technology in a wide range of industries and increasing demand in developing countries.

Position Sensors: A Global Strategic Business Report

Follow us on LinkedIn – Position sensors, over the decades, have come to represent an important type of measurement technology with its use spreading to a wide array of applications ranging from transportation systems to industrial equipment to medical equipment. As continuous incremental technology innovations continue to carry the benefits of this technology far and wide, across newer applications areas/platforms, the market for these sensors is poised to grow in the upcoming years. Currently, process and manufacturing industries and the automotive industry remain major end-users of position sensors.

While in most of the process industries, the growing drive towards plant automation is offering growth opportunities for position sensors, 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 being legislated in various countries worldwide are encouraging the usage of position sensors, particularly rotary and linear position sensors, as these sensors play a critical role in ensuring vehicle compliance with slated emission riders. Further, the growing trend of increased integration of electronics and control systems in modern automobiles also expands avenues for growth, as it necessitates increased use of these sensors.

The market for position sensors is witnessing a steady shift from contact position sensors to non-contact position sensing technologies. Limitations of contact technologies such as high power consumption, interference and electronic noise, is stepping-up demand for non-contact sensors. These 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. Non-contact sensors therefore are witnessing increased adoption in harsh working environments, by virtue of their strong resistance to high temperatures and pressures when compared to traditional contact sensing systems.

Smart position sensors are growing in popularity primarily due to constraints of space and the increased need for versatility, flexibility, superior measurement performance, and higher levels of accuracy, in various applications. Adoption of these sensors is forecast to be especially high in pneumatic and hydraulic machineries, and plastic processing industries. Growth in the global position sensors market, during the forecast period, is poised to stem from developing countries in Asia, Latin America and Middle East. These countries with their robust pace of industrialization, infrastructure development and GDP growth will continue to offer ample business opportunities for players in the market.

Demand for position sensors in machine tools is especially poised to benefit as a result of increased infrastructure development activities in sectors such as manufacturing. Also, the widespread trend of outsourcing and shifting of manufacturing activities to low cost developing countries bodes well for demand in these emerging markets. Manufacturing industries in developing countries are poised to flaunt greater demand for high quality precision equipment on par with their developed counterparts. China in particular, displays tremendous appetite for new machine tools, given the robust development in its industrial 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. The scenario brings out position sensors as the prime beneficiary.

In Europe, industrial position sensors market is beginning to feel the heat of the region’s festering debt crisis, given the fact that opportunities in this space are hugely dependent on the health of the industrial and manufacturing sector. The crisis induced volatility in the Index of Industrial Production (IIP), not surprisingly leaves the domestic market hurting. Indicating the deepening financial crisis in the region is the decline in industrial production, which for the full year 2012, declined by 2.4% approximately in the eurozone area. The decline indicates persistent sluggishness in the economy, poor performance of the manufacturing sector, and decline in production of capital goods. Indicating continuous contraction in growth, PMI index for the month of January 2013 also remained below 50 points at 48.6. The scenario offers very little reasons for optimism and hope for a turnaround thus creating an especially uncomfortable market scenario for position sensor manufacturers.

As stated by the new market research report on Position Sensors, Europe continues to remain the largest regional market accounting for a majority share in global sales. Asia-Pacific represents the fastest growing regional market with sales poised to grow at a CAGR of about 8.4% over the analysis period.

Major players in the global marketplace include Allegro MicroSystems Inc., Bourns Inc., Custom Sensors and Technologies Inc., CTS Corporation, Curtiss-Wright Controls, Inc., Honeywell International Inc., SICK AG, Siemens AG and Truck 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 and Rest of Europe), Asia-Pacific, Latin America, and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Position_Sensors_Market_Report.asp

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 more than 1300 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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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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