Magnetic Proximity Sensor Market - Growth, Trends, and Forecast (2019 - 2024)

The Magnetic Proximity Sensor Market is segmented by Application (Aerospace & Defense, Automotive, Consumer Electronics, Building Automation), and Geography.

Market Snapshot

cagr
Study Period:

2018-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

7%

Key Players:

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Market Overview

The magnetic proximity sensor market is expected to register a cagr of 7% in the forecast period 2019-2024. The increase in the trend of automation will drive the market in the forecast period.

  • The industrial automation segment has been emerging to be a relatively more attractive space for investment by organizations across the globe. The dependence on robots in industrial controller mechanisms is an established trend, paving the way for more extensive and broader adoption of the industrial control and automation equipment.
  • SICK offers two types of magnetic proximity sensors, one is metric (MM), and another one is rectangular (MQ). In explosion-hazardous areas, MM sensor is used to detect objects through magnetic waves from a far distance. While MQ sensors create advantages in a plastic housing, these sensors are designed to use in rough environments since they do not affect by dust, heat, or vibrations.
  • Government is enforcing the safe use of sensors in every end-user industry, especially in healthcare devices, which requires much detail regulations to ensure safety for end-user from electrically, chemically, biologically, and physically.
  • The increase in demand for non-contact sensing technology will drive the proximity magnetic sensor market in the near future since they are used in various applications like aerospace and & defense, automotive, and others.
  • However, the major challenge for this market would be the limitations in sensing technology since they are expensive and need expert personnel to analyze the readings, which sometimes are very complex to understand.

Scope of the Report

Magnetic proximity sensors are used to detect the position of magnetic objects without any contact via long sensing ranges which can penetrate all non-magnetisable materials like stainless steel, aluminum plastic wood, etc. They are widely used in Aerospace & Defense, Automotive, Industrial, and others.

By Application
Aerospace & Defence
Automotive
Consumer Electronics
Building Automation
Other Applications
Geography
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key Market Trends

Application in Automotive to Drive the Market Demand

  • When it comes to manufacturing of automobiles, they are all nested with all kinds of proximity sensors such as position sensors, magnetic sensor, level sensor, inductance sensor, hall sensor, digital sensor, and others, which is driving the magnetic proximity sensor market in the forecast period.
  • In an automobile, magnetic proximity sensor emits electromagnetic beam to look for changes n the field. They have a long service life; they have good sensitivity range, can a combination of magnets trigger; they also have high stability, reliability, and consistency; customers can customise shell colour, outlet direction, wire, terminal blocks etc.
  • Since motors are used in the automobiles, with these motors are made of a permanent magnet, they gain large power, small size, light weight, high efficiency. A magnetic proximity sensor is used to detect its performance and any kind of defect if any of these functions are not inline.
  • The increasing demand for light commercial vehicles has made manufacturers emphasize more on passenger comfort and automatic controls. Thus, proximity magnetic sensor has become an indispensable part of the modern automobile infrastructure. Premium vehicles and utilities continue to drive the sales of light vehicles, which cumulatively contribute to an increase in the demand for magnetic proximity sensors market during the forecast period.
graph

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North America to Account for a Significant Market Share

  • In North America, the government has taken initiatives for the safety of passengers in automobiles. With the magnetic proximity sensor have become an essential part of automobiles. This will drive the proximity magnet sensor market in the forecast period.  The vehicles are now equipped with different kind of sensing devices which can take measures such as heat and speed, in case of danger.
  • In many industrial applications, magnetic proximity sensors are used contactless current sensing, linear and angular position, and rotating sensing. Crocus' magnetic proximity sensors provide superior performance for all kinds of applications.
  • The products for Crocus' magnetic proximity sensor is based on its unique MLU-patented technology that can sense different levels of magnitude, consume low power, can operate high-temperature and high-frequency in Mhz range, and results are reliable.
  • Moreover, factory automation is seeing substantial growth in the region. These sensors are used for faster and more efficient production lines, and sensing safety switches and proximity detection with high precision, repeatability and more accurately.
heatmap

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Competitive Landscape

The major players General Electric, Eaton Corporation Plc, Rockwell Automation, Inc., Omron Corporation, Panasonic Corporation, NXP Semiconductors N.V., Honeywell International Inc., and Turck, Inc., among others. The market is fragmented since there is huge competition amongst the players with most of them struggling to occupy a considerable share in the market.

  • May 2019 - Panasonic started offering a broad range of inductive proximity sensors for metallic sensing applications. Panasonic’s separate amplifier type can handle high-speed operations. The company’s GX-F12A-P rectangular-shaped oil resistant inductive proximity sensor, part of its GX-F/H series, is said by the company to have “the longest stable sensing range among the same level of rectangular inductive proximity sensors in the industry.” The sensors are easy to install and different frequency types are available.

Major Players

  1. Sick AG
  2. Omron Corporation
  3. Honeywell International Inc.
  4. Rockwell Automation
  5. General Electric

* Complete list of players covered available in the table of contents below

MC

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increase in the Demand for Non-contact Sensing Technology

    4. 4.4 Market Restraints

      1. 4.4.1 Limitations in Sensing Capabilities

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. TECHNOLOGY SNAPSHOT

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Application

      1. 6.1.1 Aerospace & Defence

      2. 6.1.2 Automotive

      3. 6.1.3 Consumer Electronics

      4. 6.1.4 Building Automation

      5. 6.1.5 Other Applications

    2. 6.2 Geography

      1. 6.2.1 North America

      2. 6.2.2 Europe

      3. 6.2.3 Asia-Pacific

      4. 6.2.4 Latin America

      5. 6.2.5 Middle East & Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Sick AG

      2. 7.1.2 Omron Corporation

      3. 7.1.3 Honeywell International Inc.

      4. 7.1.4 Rockwell Automation

      5. 7.1.5 General Electric

      6. 7.1.6 Panasonic Corporation

      7. 7.1.7 Eaton Corporation

      8. 7.1.8 Pepperl + Fuchs GmbH

      9. 7.1.9 Turck Inc

      10. 7.1.10 IFM Electronic GmbH

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. MARKET OPPORTUNITIES AND FUTURE TRENDS

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