Displacement sensors are also known as displacement gauges which are used to measure the travel range between the object’s current position and its reference point. These are used for dimension measurement to determine an object’s thickness, height, and width. The displacement sensors work in two different ways include non-contact measurement using the magnetic field, light or sound waves and in direct contact with an object. There are various applications such as detection of stacked printed circuit boards (PCB), positioning of electronics components on the PCB during manufacturing and many others wherein the displacement sensors are used.
Global Displacement Sensors Market: Dynamics
The key factors which drive primarily the growth of the global displacement sensors market are significantly increasing industrial automation along with growing electronics industry due to robust growth in the demand for smartphone and other electronic products over the forecast period. Rising demand for non-contact sensing technology in automotive industry fuels the global displacement sensors over the forecast period.
Furthermore, robust growth in construction industry along with food and beverages industry are the major factors which drive the global displacement sensors market due to its high usage for supervision in various construction projects and in the packaging of products respectively. Additionally, high product innovation in displacement sensors such as compact and robust design from key manufacturers leads the global displacement sensors market towards significant growth over the forecast period. The key factors such as high development and installation cost and high labor cost in North America region hinder the growth of global displacement sensors market over the forecast period.
Global Displacement Sensors Market: Segmentation Overview
Among above mentioned end-use industry, electrical and electronics segment, as well as automotive industry, are anticipated to uplift the global displacement sensors market over the forecast period due to the significant usage of displacement sensors in the assembly of electronics components. Additionally, among the above-mentioned measurement type, the non-contact segment is estimated to witness the rapid growth rate in the global displacement sensors market due to its growing demand for industrial automation.
Global Displacement Sensors Market: Regional Outlook
Based on geographies, the global displacement sensors market is classified into seven regions such as Western Europe, North America, Eastern Europe, Latin America, Asia Pacific excluding Japan, Japan and the Middle East and Africa. Among above-mentioned regions, North America accounts high market share in the global displacement sensors market over the forecast period, attributed to growing innovation such as displacement sensors with laser technology across the region followed by Western Europe.
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Asia Pacific excluding Japan is anticipated to showcase a significant growth in the global displacement sensors market over the forecast period, owing to significant growing electronics industry along with robust growth in manufacturing industry in emerging countries such as China and India across the region. Latin America is predicted to see extensive growth in the global displacement sensors market due to significantly growing manufacturing industry in Brazil. Japan is predicted to see a significant CAGR in the global displacement sensors market over the forecast period, attribute to high usage of displacement sensors in the automotive industry for thickness measurement.
Global Displacement Sensors Market: Key Players
Few key players of the global displacement sensors market are Omron Corporation, ifm electronics GmbH, Lion Precision Inc., Continental AG, Schneider Electric SA, Panasonic Corp, Spectris PLC, Micro-Epsilon Messtechnik GmbH & Co. KG, and Riftek LLC. Key manufacturers are focusing toward innovation in products such as non-contact linear displacement sensors with laser technology which provides high speed and efficiency.
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