position sensor market

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2022
Position Sensor Sales To Shoot Up in Asia-Pacific
in Coming Years
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The increasing integration of position sensors in
automobiles is pushing up their sales across the
world. Clutch players, pedal positioning, and
steering angle sensing are the major application
areas of position sensors in automobiles. In
addition to these, position sensors are
incorporated in hybrid engines and parking
assistance systems. Due to this reason, the
expansion of the automobile industry, on account
of the surging automobile manufacturing in
Indonesia, China, and Thailand, is driving the
demand for position sensors. According to the
International Trade Administration, China is the
largest manufacturer and buyer of automobiles in
the world. Moreover, domestic manufacturing in
the country is predicted to rise to 35 million
vehicles by 2025. Furthermore, as per the data
released by the countrys Ministry of Industry
and Information Technology, more than 25 million
vehicles were sold in the country in 2019,
including 4.32 million commercial vehicles and
21.44 million passenger vehicles. Request for
sample copy of this report https//www.psmarketre
search.com/market-analysis/position-sensor-market/
report-sample Another major factor propelling
the worldwide demand for position sensors is the
booming packaging industry in several countries.
For example, in India, the plastic packaging
industry surged at a CAGR of more than 14
between 2010 and 2017. Moreover, due to the
surging pharmaceutical and food packaging sectors
and the increasing exports, the industry will
continue expanding in the coming years. As
position sensors are extensively used in
packaging machines, the growth of the industry is
positively impacting the sales of these sensors.
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Apart from the packaging and automobile
industries, position sensors are also heavily
used in the aerospace industry. Therefore, the
increasing manufacturing of aircrafts is also
propelling the growth of the position sensor
market. As per the estimates of the Indian Brand
Equity Foundation (IBEF), the aerospace defense
industry in India is predicted to attain a value
of 70 billion by 2030, on account of the surging
requirement for advanced infrastructure and
supportive government policies. Due to the
aforementioned factors, the revenue of the
position sensor market is predicted to grow from
9.1 billion in 2018 to 14.2 billion by 2024.
The market is also expected to grow at a CAGR of
7.7 from 2019 to 2024. Depending on type, the
market is classified into linear and rotary.
Between these, the rotary category contributed
higher revenue to the market in 2018. These
sensors are extensively used in various consumer
electronic devices and also for pedal and
throttle position detection and control in
vehicles. Browse full report at
https//www.psmarketresearch.com/market-analysis/p
osition-sensor-market On the other hand, in the
upcoming years, the linear category is predicted
to demonstrate faster growth in the market.
Geographically, the position sensor market will
exhibit the fastest growth in the Asia-Pacific
(APAC) region in the forthcoming years, as per
the estimates of the market research company, PS
Intelligence. This is ascribed to the burgeoning
requirement for automobiles and consumer
electronics in the regional countries, on account
of the surging population. Hence, it can be said
without any hesitation that the demand for
position sensors will skyrocket in the upcoming
years, mainly because of the surging
manufacturing of automobiles and consumer
electronic devices, especially in the APAC region.
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Market Segmentation

• By Type
• Rotary
• Rotary encoder
• Rotary potentiometer
• Resolver
• Rotary variable differential transformer (RVDT)
• Linear
• Linear potentiometer
• Magnetostrictive sensor
• Laser sensor
• Linear encoder
• Linear variable differential transformer (LVDT)
• By Contact Type
• Contact
• Non-Contact

• By Industry
• Automotive
• Aerospace
• Consumer Electronics
• Packaging
• Manufacturing
• Healthcare
• Others (Power Generation Industry and Oil Gas
  Industry)
• By Geography
• North America Position Sensor Market
• Europe Position Sensor Market
• Asia-Pacific (APAC) Position Sensor Market
• Latin America (LATAM) Position Sensor Market
• Middle East Africa (MEA) Position Sensor Market
•  

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