Global Force Sensor Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Force Sensor market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global force sensor market size was US$ 2.9 billion in 2019. The global force sensor market is forecast to reach the value of US$ 5.11 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2021 to 2030.
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Force sensors help determine the value of force that is applied to an object. These devices are mainly used to evaluate the force experienced by the parts of the vehicle, including dampers & axle beams. Moreover, these devices help eliminate the chances of fatigue failure in mining vehicles, construction trucks, and other heavy vehicles.
Factors Influencing
- The increasing adoption force sensors across various industries, including construction, industrial, and manufacturing, is propelling the market growth.
- The application of force sensors in healthcare is another factor driving the market growth.
- Integration of the Internet of Things (IoT) and the introduction of innovative driver assistance systems (ADAS) may fuel market growth in the future.
- Low manufacturing costs along with the high accuracy features are forecast to surge the growth of the force sensor market globally.
- The weak after-market distribution channel may hamper the market growth during the analysis period.
Geographic Analysis
Regionally, Europe accounts for the largest share in the global force sensor market. The region is home to prominent automobile firms, which would create lucrative opportunities for regional growth. Moreover, growing industrialization and urbanization worldwide may create favorable opportunities for the market players shortly.
The global force sensor market would witness favorable growth in the Asia-Pacific region. It is due to the expansion of the healthcare sector, rapidly growing urbanization, and the developing infrastructure. Various developing countries, including China and Japan, are forecast to contribute significant revenue in the force sensors sector.
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COVID-19 Impact Analysis
The sudden onset of the COVID-19 outbreak has negatively impacted the entire production process, resulting in an abrupt decline in the demand for the force sensors. The Asian and European countries, the major contributors in the global force sensors market, suffered notable losses. As a result, it impacted the growth of the global force sensor market. Moreover, due to the shutdown of manufacturing units, the entire supply chain of the global force sensor market observed a severe disruption.
The automobile industry witnessed a major loss during the pandemic period. As the growth of the force sensors is linked to the expansion of the automobile industry, the global force sensor market growth declined during the pandemic period.
Market Segmentation
The global force sensor market is segmented on the basis of Technology, End-Use, Operation, and Region.
By Technology
- Strain Gauge
- Load Cell
- Force Sensitive Resistors
- Others
By End-Use
- Automotive
- Locomotive
- Manufacturing
- Mining
- Aerospace & Defense
- Construction
- Healthcare
- Others
By Operation
- Analog
- Digital
By Force Type
- Compression & Tension
- Compression
- Tension
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By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitors in the Market
- TE Connectivity Ltd
- Honeywell International
- ATI Industrial Automation
- Tekscan Inc
- Sensata Technologies
- Siemens AG
- Vishay Precision Group
- ABB Ltd.
- Futek Advance Sensor Technology
- Hottinger Baldwin Messtechnik
- Other prominent players
Key questions answered in the global Force Sensor market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Force Sensor market over the forecast period?
- What are the factors driving and restraining the market for Force Sensor?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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