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Wednesday, June 22, 2022

Global Force Sensors Market Is Expected To Grow At CAGR Of 4.68% In The Forecast Period Of 2022-2027

 The new report by Expert Market Research titled, ‘Global Force Sensors Market and Forecast 2022-2027’, gives an in-depth analysis of the global force sensors market, assessing the market based on its segments like type, end user and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Value (2021): USD 2,160 Million
• Forecast CAGR (2022-2027): 4.68 %
• Forecast Market Volume (2027): USD 2,836 Million

The growing need for force sensors in the automobile industry is propelling global businesses forward. The force sensors are exceptionally sturdy, have a high loading capacity, and are compact and durable, making them perfect for automotive applications. The increased demand for automobiles in emerging nations, fueled by a growing middle-class population, is expected to drive demand for force sensors over the projected period. The increased demand for various types of force sensors in industrial manufacturing applications is expected to help the market grow even further.

Market Segmentation

A force sensor is a transducer that converts a mechanical force into electrical output, allowing the amount of force applied to an object to be measured. The amount of change in the resistance values of force-resisting sensors can be used to compute the applied force.

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Based on type, the market covers:

• Tension Force Sensors
• Compression Force Sensors
• Tension and Compression Force Sensors

Based on end use, the market includes:

• Healthcare
• Industrial Manufacturing
• Automotive
• Aerospace and Defence
• Consumer Electronics
• Others

The major regional markets include:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Trends

Tension force sensors have a major share of the market and are expected to increase at a significant rate throughout the projected period. Tension-based force sensors are built specifically for precise measurement of tensile load, weight, and force. It has excellent fatigue resistance, vibration resistance, and long-term stability. Furthermore, rising knowledge of the tension force sensor’s capacity to measure both static and dynamic load is expected to boost its usage in the future years. Tension force sensors are expected to have high demand from the aerospace industry throughout the projected period, since the product is appropriate for severely demanding environments.

The rising industrialisation across Asia Pacific, combined with the presence of major force sensor manufacturers, is expected to boost the force sensor sector. The rising demand for bulk material handling systems in emerging nations such as India and China is expected to drive up demand for force sensors over the forecast period. The market is also likely to benefit from the increased demand in the region to improve supply chain management, particularly following the supply chain disruptions caused by the COVID-19 outbreak in 2020.

Key Market Players

The major players in the market are Alps Electric Co Ltd, Synaptics Inc, Interlink Electronics Inc, Pressure Profile Systems Inc, Futek Advanced Sensor Technology, Inc., among others.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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