Force Sensor Market, By Type (Piezo Electric Force Sensor, Piezo Resistive Force Sensor, Capacitive Force Sensor, Optical Force Sensor, Magnetic Force Sensor), By Application (Process Monitoring, Control Monitoring), By Vertical - Forecast 2030

Force Sensor Market Overview

According to the worldwide Analysis, the force sensor market is anticipated to experience a growth of at least USD 6.3 Billion by 2030. Therefore, there will be at least a 6.20% rise in Compound Annual Growth Rate or CAGR in the course of the forecast period.

Force sensors are the forms of transducers that are capable of converting the mechanical signal into an electrical signal by transforming the input into output. It provides huge flexibility and facilitates extremely thin construction of Force sensor design. This is why both the small force sensor and large force sensor are extremely durable and are being utilized in various applications across numerous companies. Because of their ultra-thin features, these categories of sensors result in minimal interference in the ordinary actions of different devices. 

Various major business giants are spending capital on the force sensor market share because of increasing requirements from numerous industry verticals such as medical, automotive, retail, consumer electronics among others. Market is gaining significance regarding rising adoption in consumer electronics. Besides, the rising popularity of touch-based interface services is another reason for the rising growth of the market companies. 

COVID-19 Analysis 

The overall impact of the COVID-19 outbreak is affecting the production procedures of various industries. Because of the lockdown and the temporary shutdown of industries, the overall productions of global force sensor market companies were hampered. Also, it’s affecting the supply chain. The severe crisis scenario is resulting in uncertainty in the stock market. Thus there’s a massive slowdown of the supply chain. 

Both the European and Asian countries under lockdowns have experienced a major loss in revenue. Therefore, the force sensor market growth was slowed down during 2020. The pandemic hugely impacted the worldwide automotive market by restricting production facilities. Therefore, the demands for automotive industries also decreased. The symptoms incorporate the interruption in machinery parts exports and also in large-scale manufacturing, which may be a hindrance towards the growth of the market.

Market Dynamics 

• Drivers  

The rising adoption and utilization of various forms of the small force sensor and large force sensor in the automotive section is one very significant factor driving the growth of force sensor market. Besides, low manufacturing costs, growth in demands of Force sensors in robotics, technological and healthcare developments are becoming the driving force for the innovative, developmental, technological improvement in force sensor design.

• Opportunities 

The major market scope is the rising automotive sales and the growing production of vehicles worldwide that would result in lucrative revenue for force sensors in robotics.

• Restraints 

Uncertainty in consumer demand is one of the most important restraints of force sensor market. 

• Technology Analysis 

The technological division that falls under the different segments of Force Sensor Market Analysis is further categorized into Piezo resistive force sensor, magnetic force sensor, electrochemical force sensor, optical force sensor, capacitive force sensor, ultrasonic force sensor, load cell sensor, strain gauges, etc. Among all these, the Piezoresistive force sensor is anticipated to experience rapid and continuous growth in the course of the forecast period, and the magnetic force sensor would be the second to witness the same. Moreover, the Piezoresistive force sensor is expected to gain the highest force sensor industrial share. 

• Cumulative Growth Analysis 

In the APAC region, the growth in the force sensor market can be attributed to the outstanding development in automotive, manufacturing, bulk material handling, and assembling industries. The same growth in Force sensor applications is also happening in developing economies such as India, Japan, China, and South Korea. China is one most the most significant players based on Force sensor applications of the Asian Pacific region because of its vast industrial and manufacturing sector. 

Segment Overview 

The force sensor market can be classified based on the following segments: 

By Application 

The force sensor market is segmented into the following divisions based on the types of application: 

• Process Monitoring


• Control Monitoring


• Biomedical


• Measuring Equipment


• Traffic Engineering


• Others

By Operation 

Based on operation, the divisions of force sensors are: 

• Digital Force Sensor 


• Analog Force Sensor 

By Vertical 

This segment classifies the usage of different fork sensors manufactured by the force sensor market manufacturers. The divisions are as follows: 

• Manufacturing


• Packaging and Printing


• Defense and Aerospace


• Industrial


• Pharmaceuticals and Medicals


• Automotive


• Agriculture


• Others 

By Force Type 

The force sensor market is segmented into the following divisions based on the types of applied forces:

• Compression 


• Tension


• Tension and Compression 

By Region 

The regional segmentation of the market manufacturers are as follows:North America 

• The U.S.


• Mexico 


• Canada 

Europe 

• Germany 


• UK 


• France 


• Rest of Europe 

Asia Pacific 

• India 


• Japan


• South Korea


• China


• Rest of the Asia-Pacific

LAMEA

• The Middle East


• Latin America


• Africa

Rest of the world 

By Technology 

The force sensors sold by the force sensor market is divided into various classifications depending on the technology used during the manufacturing procedures: 

• Fiber Optic Force Sensor


• Magneto Elastic Force Sensor


• Capacitive Force Sensor


• Piezo-resistive Force Sensor


• Magneto Resistance Force Sensor


• Magnetic Force Sensor


• Optical Force Sensor


• Opto Mechanical Force Sensor 


• Tracking of Optical markers


• Piezo-electric Force Sensor 


• Hall Effect Force Sensor


• Electrochemical Force Sensor


• Ultrasonic Force Sensor


• Metal Strain Gauges


• Load Cell Sensor 


• Semiconductor Strain Gauges 


• Strain Gauges 

By End Users 

Based on end-users the classifications of the force sensor market are as follows: 

• Construction


• Aerospace 


• Defense


• Mining


• Healthcare


• Locomotive


• Automotive 


• Others

Regional Analysis 

The largest force sensor market share is held by the North American region that is followed by Asia Pacific Regions and Europe. The rise in the North American region is majorly dominated by Canada and the U.S. and its attributed to the rising need for cloud computing applications in these regions. Besides, this region also offers a well-established infrastructure that permits the proper implementation of various latest technologies.

Moreover, the rising adoption internet is another significant factor that’s responsible for facilitating the growth of the force sensor market. The key players of the force sensor industrial market mostly belong to Switzerland, U.S., and Germany. 

Competitive Landscape 

The major market players have adopted numerous strategies such as mergers and acquisitions, expansion of product portfolio, collaborations, geographical expansions, and agreements, to strengthen their foothold into the market and to increase their penetration into the industry. 

Report Overview 

Based on the global force sensor market, the market is anticipated to experience a growth of at least USD 6.3 Billion by 2030. Therefore, there will be at least a 6.20% rise in Compound Annual Growth Rate or CAGR in the course of the forecast period, i.e. 2022-2030. China is one most the most significant players based on Force sensor applications of the Asian Pacific region because of its vast industrial and manufacturing sector. Moreover, the Piezoresistive force sensor is expected to gain the highest Force sensor industrial share. 

Scope of Report and Segmentation Table: 

• Base year – 2020


• Forecast period – 2021-2030


• Historical data - 2019