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US Demand for Sensors to Approach $15 Billion in 2016

Cleveland 11/16/2012 02:00 PM GMT (LinkMyStock)

US sales of sensors are forecast to climb at a 6.1 percent annual rate through 2016 to $14.9 billion, showing significant improvement over market performance from 2006 to 2011.  Demand will primarily be fueled by a rebound in motor vehicle production and government mandates requiring that all new light vehicles be equipped with electronic stability control and tire pressure monitoring systems.  Growth in machinery and process manufacturers’ output will also support market gains.  The maturity of many sensor markets and improved fabrication techniques that have led to increased sensing abilities at lower costs will temper value gains.  In addition, the manufacture of many sensor-laden products, such as consumer electronic devices, has moved overseas, which will further limit market advances.  These and other trends, including market share and product segmentation, are presented in US Sensors, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.  



Process variable sensors will remain the largest product category in 2016, approaching $4 billion, while chemical property sensors and proximity and positioning sensors will post the fastest growth, averaging 9.7 percent and 7.9 percent per year, respectively.  Chemical sensor sales will be boosted by technological advances that have resulted in smaller, more precise sensors at lower costs.  The rebound in motor vehicle production, and an expected increase in aftermarket demand for engine oxygen sensors, will provide growth opportunities for chemical sensors used in vehicle emission systems.  Proximity and positioning sensor demand will be spurred by output increases for motor vehicles.  The renewed strength in output of machinery, another important market for proximity and positioning sensors, will also support sales gains.



By 2011, industrial applications overtook motor vehicles to become the largest major sensor market due to still low levels of motor vehicle production compared to earlier peaks.  However, motor vehicles will once again become the leading sensor market, expanding at a 13 percent annual rate to $4.4 billion in 2016 and accounting for over half of all dollar gains between 2011 and 2016.  This growth will be due to a continuing rebound in motor vehicle production and new, sensor-heavy systems including cylinder deactivation, direct fuel injection, electronic stability control, roll-over protection, tire pressure monitoring, and variable-valve timing systems.  The medical and electronic security sensor markets are also forecast to perform well.



The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles. 


pr@freedoniagroup.com
www.freedoniagroup.com

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