The Europe proximity sensors market is projected to reach USD 1.12 billion by 2018 growing at a CAGR of 7.15% over the period 2014-2020. The need for enhanced production efficiency in verticals such as process industries, automotive manufacturing and industrial applications is expected to be the key driver for growth of the proximity sensors market.
European regulations aimed to control pollution and to ensure safer work environments have a positive impact on the proximity sensors market. Increasing demand for automation and strong growth in capital investments are the key drivers for the lucrative growth of the proximity sensors market in Europe. However, limited sensing capabilities and limited product variation among different manufacturing companies are the major hindrances to the growth of the market.
The proximity sensors market is segmented on the basis of type, technology, and end-user industry. While photoelectric proximity sensors, due to their extensive use in automotive and material handling applications, are part of the fastest growing technology segment of this market, capacitive proximity sensors are projected to record the highest growth throughout the forecast period. Magnetic proximity sensors are the preferred choice for the detection of non-contact magnets. Other areas of application include automatic door units like garage doors, elevator doors, and doors inside railway coaches. High volumes of proximity sensors are used by the building and automotive sectors.
This report describes a detailed study of the Porter’s five forces analysis, market segments, and current market trends. All the five major factors in these markets have been quantified using the internal key parameters governing each of them. It also covers the market landscape of these players which includes the key growth strategies and competition analysis. The report also considers key trends that will impact the industry. Some of the leading suppliers of proximity sensors mentioned in the report are:
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