Ultrasonic Sensor Market Research Report: By Type (Range Measurement, Proximity Detection), Application (Level Measurement, Distance Measurement, Object & Pallet Detection, Loop Control, Diameter Measurement), End User (Food & Beverage, Automotive, Healthcare, Agriculture, Industrial)
NEW YORK, Feb. 25, 2020 (GLOBE NEWSWIRE) -- In 2019, the global ultrasonic sensor market size attained $4.1 billion and is predicted to advance at a 10.2% CAGR during the forecast period (2020–2030). Based on end user, the industrial division dominated the market in 2019, owing to the rising requirement for sensors in level measurement and distance measurement applications in waste water, oil & gas, energy & power, and chemical industries. The automotive division is projected to register the fastest growth during the forecast period. This is because of the rising demand for ultrasonic sensors in self-driving cars for obstacle detection applications.
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In terms of application, the level measurement category accounted for the largest share of the ultrasonic sensor market in 2019. This is ascribed to the rising requirement for detection and measurement of water or fluids in different industries including water treatment, oil & gas, pharmaceutical, and chemical. In addition to this, these sensors are also utilized in cars for detecting fuel in tanks, which is why their demand for level measurement is high across the world.
On the basis of type, the range measurement division is expected to grow at the faster pace during the forecast period in the ultrasonic sensor market. The retro-reflective category in range measurement type is projected to advance at a higher growth rate during the forecast period. This is ascribed to the rising usage of these sensors for detecting irregularly shaped and inclined objects which are difficult to detect using beam sensors.
Browse report overview with 132 tables and 63 figures spread through 171 pages and detailed TOC on "Ultrasonic Sensor Market – Size, Share, Trends, Segment Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/ultrasonic-sensor-market
When geography is taken into consideration, the Asia-Pacific region accounted for the major share of the ultrasonic sensor market in 2019. The reason for this is the rising demand for automation in industries. Apart from this, the rising focus toward smart agriculture and surging population in the region, particularly in India and China, is resulting in the growth of the regional market. In the region, China dominated the market in 2019 because of the presence of large manufacturing industries including food & beverage, chemicals, and automotive.
The rising utilization of ultrasonic sensors in automobiles is a major driving factor of the ultrasonic sensor market. These sensors are utilized in automobiles in several applications such as for level sensing in fuel tanks, park assistant system, and object detection and identification. They aid in calculating the distance of obstacles and monitor space while parking of the vehicles. Due to the increasing production of vehicles, majorly in countries including Indonesia, Thailand, and China, the demand for ultrasonic sensors is rising.
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The increasing demand for autonomous mobile robots (AMRs) is a key trend in the ultrasonic sensor market. Attributed to technological advancements and growing focus toward increasing productivity, efficiency, and operational capacity in the manufacturing processes, the requirement for AMRs for different application in various industries is rising. Ultrasonic sensors are used in AMRs for applications such as determining the distance and detecting obstacles between two objects.
The market is fragmented with the presence of numerous players in the market. The key players operating in the market include Pepperl+Fuchs AG, Siemens AG, Honeywell International Inc., OMRON Corporation, Rockwell Automation Inc., KEYENCE CORPORATION, SICK AG, Balluff GmbH, ifm electronic gmbh, Banner Engineering Corporation, Baumer Holding AG. In May 2019, Pepperl+Fuchs AG launched UGC-50GK ultrasonic sensor for wide range of applications. The sensor is designed for applications including water and wastewater treatment, recycling and waste management, and silo level monitoring.
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