DUBLIN--(BUSINESS WIRE)--The "Ultrasonic Sensor Market Research Report: By Type, Application, End-user - Global Industry Share, Growth Analysis, Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
As a result of the growing demand from the manufacturing sector and mushrooming incorporation of ultrasonic sensors in automobiles, the market for these instruments is expected to witness massive advance during the forecast period (2020-2030), with a CAGR of 10.2%. At this rate, the global ultrasonic sensor market is predicted to increase in value from $4.1 billion in 2019 to $12.1 billion by 2030.
The rising demand for such instruments from different industries is a major factor driving the upswing in the ultrasonic sensor market value. At manufacturing plants, ultrasonic sensors are used in various important processes, such as diameter measurement of rolls, loop control, height measurement, tank water level measurement, and distance measurement. Furthermore, the escalating industrial production in developing countries is creating a high demand for these sensors, especially for the fluid level measurement application.
The rapidly growing adoption of such devices in automobiles is another important factor driving the ultrasonic sensor market. These sensors are used for various applications in automobiles, such as object detection and identification, level sensing in fuel tanks, and in park assist systems. Due to the surge in the production of vehicles, as a result of the increasing disposable income across the globe, especially in the emerging economies, such as Indonesia, China, and Thailand, the usage of ultrasonic sensors is set to skyrocket in the coming years.
Based on application, the ultrasonic sensor market is mainly categorized into distance measurement, level measurement, diameter measurement, loop control, and object & pallet detection. Amongst these, the object & pallet detection category is predicted to record the fastest growth, in terms of revenue, during the forecast period. This is ascribed to the rising demand for such instruments for obstacle detection, especially in driverless cars. Furthermore, the rapid advancements in the food and beverage industry are expected to further boost the usage of object & pallet detection systems.
On the basis of type, the ultrasonic sensor market is divided into two categories, namely proximity detection and range measurement. Of these, the proximity detection category had the larger market share, in terms of revenue, in 2019. This is primarily attributed to the burgeoning use of ultrasonic proximity sensors in various food and beverage processing applications. The range measurement category is expected to register faster growth during the forecast period.
The biggest trend being witnessed in the ultrasonic sensor market is the rising demand for autonomous mobile robots (AMRs). AMRs are experiencing a rapidly increasing demand from various industries, such as medical electronics, automotive, and oil & gas, primarily on account of the rising technological advancements and the strong focus toward high productivity, augmented operational capacity, and improved efficiency. Ultrasonic sensors are widely used in AMRs for obstacle detection and computing the distance between two objects.
Geographically, the Asia-Pacific (APAC) region accounted for the largest share, in terms of revenue, in the ultrasonic sensor market, in 2019. It is also expected to record the fastest growth in the market during the forecast period. The main factors resulting in APAC's leading share and swift advance in the market are the increasing automobile production and booming industrial manufacturing sector in the region, especially in countries such as India, China, and Thailand.
Hence, the progress of the automobile production and industrial manufacturing sector, especially in the emerging economies, will lead to the consistent growth of the market.
Key Topics Covered
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Type
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by End-user
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.4 Key Stakeholders
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 by Type
184.108.40.206 Range Measurement
220.127.116.11.1 Through Beam Sensor
18.104.22.168.2 Retro-Reflective Sensor
22.214.171.124 Proximity Detection
126.96.36.199.1 Proximity Sensor
188.8.131.52.2 2 Point Proximity Switch
4.1.2 by Application
184.108.40.206 Level Measurement
220.127.116.11 Distance Measurement
18.104.22.168 Object & Pallet Detection
22.214.171.124 Loop Control
126.96.36.199 Diameter Measurement
4.1.3 by End-user
188.8.131.52 Food & Beverage
4.2 Value Chain Analysis
4.3 Market Dynamics
184.108.40.206 Increasing Demand for Autonomous Mobile Robots
220.127.116.11 Growing Demand from Manufacturing Industries
18.104.22.168 Increasing Use of Ultrasonic Sensors in Automobiles
22.214.171.124 Impact Analysis of Drivers on Market Forecast
126.96.36.199 Operational Issues
188.8.131.52 Impact Analysis of Restraints on Market Forecast
184.108.40.206 Surging Demand for Industrial Automation
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Type
5.1.1 Range Measurement Ultrasonic Sensor Market, By Type
5.1.2 Proximity Detection Ultrasonic Sensor Market, By Type
5.2 By Application
5.3 By End-user
5.4 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 List of Market Players and Their Offerings
11.2 Competitive Analysis of Key Players
11.3 Competitive Benchmarking of Key Players
11.4 Strategic Developments of Market Players
11.4.1 Mergers and Acquisitions
11.4.2 Product Launches
Chapter 12. Company Profiles
12.1 Honeywell International Inc.
12.1.1 Business Overview
12.1.2 Product & Service Offerings
12.1.3 Key Financial Summary
12.2 OMRON Corporation
12.3 SICK AG
12.4 KEYENCE Corporation
12.5 Balluff GmbH
12.6 IFM Electronic GmbH
12.7 Pepperl+Fuchs AG
12.8 Rockwell Automation Inc.
12.9 Siemens AG
12.10 Banner Engineering Corporation
12.11 Baumer Holding AG
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