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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Force Sensors Market Outlook
The global force sensors market stood at a value of more than USD 2367.13 million in 2023. The market is further expected to grow at a CAGR of 4.68% in the forecast period of 2024-2032 to attain a value of above USD 3564.15 million by 2032.
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Heightened Demand for Tension Force Sensors to Bolster the Growth of the Force Sensors Industry
Based on type, tension force sensors account for a significant share in the market and is anticipated to grow at a considerable rate in the forecast period. The force sensors based on tension are specially designed for precise measurement of tensile load, weight, and force. It offers high fatigue strength, high vibration resistance, and long-term stability. In addition, the growing awareness about the ability of the tension force sensor to measure both static and dynamic load is likely to bolster its adoption in the coming years. Over the forecast period, tension force sensors are likely to witness a significant demand from the aerospace industry, as the product is ideal for extremely challenging environment.
The Asia Pacific to Provide Lucrative Growth Opportunities to the Force Sensors Industry
The rapid industrialisation, coupled with the presence of major force sensor manufacturers in the region is projected to provide impetus to the force sensor industry. Over the forecast period, the increasing demand for bulk material handling systems in emerging countries like India and China is likely to generate a significant demand for force sensors. The market is further expected to be supported by the growing need to bolster the supply chain management in the region, especially after the supply chain disruptions caused by the COVID-19 outbreak in 2020.
Force Sensor: Market Segmentation
Force sensor is a transducer that helps to convert an input mechanical force into an electrical output, which helps in measuring the amount of force applied to an object. The applied force can be calculated by observing the amount of change in the resistance values of force-resisting sensors.
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Based on type, the market is segmented into:
- Tension Force Sensors
- Compression Force Sensors
- Tension and Compression Force Sensors
The major end-use industries include:
- Healthcare
- Industrial Manufacturing
- Automotive
- Aerospace and Defence
- Consumer Electronics
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increased Application of the Product in the Automotive Sector to Boost the Growth of the Force Sensors Industry
The global force sensors industry is being driven by the growing demand for the product from the automotive industry. The force sensors are extremely rigid and have a high loading capacity, compact design, and durability that makes the product ideal for automotive applications. Over the forecast period, the rising demand for automobiles in emerging economies, fuelled by the growing middle class population, is likely to propel the demand for force sensors. The market is projected to be further aided by the rising demand for various types of force sensors in industrial manufacturing applications.
Key Industry Players in the Global Force Sensors Market
The report gives a detailed analysis of the following key players in the global force sensors market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Alps Electric Co., Ltd.
- Synaptics Inc.
- Interlink Electronics, Inc.
- Pressure Profile Systems, Inc.
- Futek Advanced Sensor Technology, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by End-user Industry |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global force sensors market attained a value of more than USD 2367.13 million.
The market is estimated to grow at a CAGR of 4.68% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach above USD 3564.15 million by 2032.
The major drivers of the market include the growing application of the product in various end-use sectors including healthcare, industrial manufacturing, automobile, and aerospace and defence, among others, the growing awareness about the beneficial attributes of the product, the thriving bulk material handling industry in the emerging economies, and the growing demand for tension force sensors, among others.
The growing research and development activities aimed towards the development of force sensors with high durability are expected to be the key trend guiding the growth of the industry.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Tension force sensors, compression force sensors, and tension and compression force sensors are the major types of the product.
Healthcare, industrial manufacturing, automotive, aerospace and defence, and consumer electronics, among others are the different end-use industries of the product.
The major players in the industry are Alps Electric Co., Ltd., Synaptics Inc., Interlink Electronics, Inc., Pressure Profile Systems, Inc., and Futek Advanced Sensor Technology, Inc., among others.
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