Ultrasonic sensor market in North America is expected to grow from US$ 1.16 Bn in 2018 to US$ 2.20 Bn by the year 2027. This represents a CAGR of 7.3% from the year 2019 to 2027.
The manufacturing sector is rapidly expanding with increasing investments from various countries.This sector is likely to expand further by embracing technological advancements to enhance plant productivity, maintain the edge with customers, and gain competitive advantage.
Developments in this sector are driven by economic growth worldwide.Also, the sector is witnessing a technological renaissance, which is changing the outlook, systems, and processes of the modern factory.
In October 2018, the North American manufacturing sector registered purchasing managers’ index (PMI) of 52.4. The region is likely to continue with the strong PMI in the coming years as well, thus signifying a strong recovery of the manufacturing sector, increasing industrial advancements in the emerging economy of Mexico, and intensifying commodities prices. The growing manufacturing industry is expected to drive the growth of the ultrasonic sensor market.
In the recent past, the adoption of automation was low in nonautomotive industries compared to that in the automotive industry.The penetration of industrial automation is now gaining pace in these industries.
With the increasing functionality of equipment such as industrial robots, this adoption is further anticipated to accelerate in the years to come.Moreover, developed markets, including the US and Japan, are at the forefront in terms of adopting automation technologies; however, there are still numerous opportunities available for the industrial market to grow further even in the developed markets.
The overall growth of the industrial sector is attributed to the growing necessity of modernization and transformation in these markets, which is expected to support the growth of the ultrasonic sensor market.The technological revolution within factories is motivating the manufacturing industries to invest in emerging technologies to enhance the production cycle of products manufactured in the respective industries and productivity.
The growing popularity of automation across various industries is expected to drive the growth of the ultrasonic sensor market. The ultrasonic sensor market by application is segmented into the production line, liquid level detection, distance measurement, and others.The production line technology holds a significant share of the ultrasonic sensor market; however, the distance measurement is expected to grow at a significant rate.
These sensors are essential for inventory management and process control industries.Companies such as Migatron, provide two types of level sensors, continuous level sensors, and point level sensors.
Based on the application area, the sensor is used for liquid level measurement is needed.The point level sensors are used to locate a single liquid height at a determined level, whereas, continuous level sensors offer level monitoring of an entire system.
Ultrasonic technology detects all materials majorly. Liquids such as milk, chemicals, lacquer, and others are controlled. The overall North America ultrasonic sensor market size has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America ultrasonic sensor market.
It also provides an overview and forecast for the North America ultrasonic sensor market based on all the segmentation provided with respect to the North America region.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America ultrasonic sensor industry. Some of the players present in the ultrasonic sensor market are Balluff Inc., Baumer Group, Honeywell International, Inc., Keyence Corporation, Migatron Corporation, Murata Manufacturing Co. Ltd, Omron Corporation, Pepperl+Fuchs AG, Rockwell Automation, Inc., Siemens AG, among others.
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218 pages •
By Asia Market Information & Development Company
• May 2021
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