The position sensor market is estimated to grow at a CAGR of 6.1% between 2016 and 2022 to reach USD 5.85 billion by 2022. The position sensor market is driven by factors such as the growing innovation in the automotive technology has widened the use of position sensors in a vehicle, high demand for position sensor from the aerospace industry, and growing trends of industrial automation.
The market for rotary position sensors is estimated to contribute the highest growth rate during the forecast period. Rotary position sensors measure the rotational or angular movement of an object. These sensors are widely used in applications wherein the variable output such as frequency, speed, or volume need to be controlled.
Some of the typical applications include robotics, test & measurement equipment, machine tools as well as small engines. The growth in these applications is attributing to the high growth rate of the market. The position sensor is also estimated to witness a high growth in the automotive, packaging, manufacturing, and aerospace industries during the forecast period.
Europe held the largest size of the European position sensor market, in terms of value, compared to other regions. This is due to the rapid adoption of linear and rotary in various applications such as machine tools, material handling, robotics, and others in major counties of this region.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights - Position Sensor Market
5 Market Overview
6 Industry Trends
7 Market Analysis, By Type
8 Market Analysis, By Specification
9 Market Analysis, By Application
10 Market Analysis, By Industry
11 Market Analysis, By Region
12 Competitive Landscape
13 Company Profiles