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Force Sensor Market
Global Force Sensor Market - Snapshot
The force sensor market is going through a diverse phase in different regions of the world. North America and Europe are mature regions of the market due to the presence of better healthcare facilities and industrial sectors. On the other hand, developing countries in Asia Pacific and Middle East & Africa that are undergoing modernization and adopting industrial automation to upgrade medical facilities and industrial processes and are seeing an increase in demand for force sensors, are driving the global force sensor market. The force sensor market is projected to expand at a CAGR of 4.2% during the forecast period and reach US$ 2,099.7Mn by 2026.
Increasing demand for force sensors in the healthcare sector is expected to propel the force sensor market during the forecast period. Force sensors help to bring a new level of functionality and reliability to medical devices. The sensor provides quantitative data that enhances the medical tool's capabilities. This data allows surgeons and doctors to eliminate guesswork, improve patient outcomes, and increase consistency. Force sensors can also be integrated into wearable drug-infusion or insulin pumps to detect early signs of occlusion and pump malfunction. The sensor can then help trigger a potentially life-saving alarm that there is a serious problem. Hence, rapid introduction and adoption of force sensor technology in the healthcare sector is expected to boost the force sensor market during the forecast period.
However, the force sensor market faces serious challenges from the slow demand for analog load cells across different industries. Analog load cells are connected to a junction box which is connected to a digital indicator. Analog load cell signals are weaker than digital signals. Also, these signals are susceptible to radio frequencies. Strain gauge signals begin with analog electrical voltages; but in this type of cell they are automatically converted to digital signals. In general, these signals use between two to six volts of energy, meaning the digital signal is quite stronger than analog. Thus, digital devices have more potential compared to analog ones and are thus expected to inhibit the growth of the force sensor market.
Oil & gas sector is expected to be the most preferred end-user, using thousands of force sensors across the world. Automotive is the most important end user industry for force sensors followed by the machinery, and pharmaceutical & biotech industries. Investments will continue in all three industries, but TMR expects to see especially strong investments in automotive during the forecast period. Load cells are used in various applications ranging from component of a simple weighing machine to complex applications such as testing aircraft design and components. Huge demand for force sensors across healthcare, industrial, aerospace, and automotive sectors is expected to propel the market during the forecast period.
Attracted by this expanding market and underlying latent demand, several players are expanding their business through new product development and strategic mergers and acquisitions and partnerships with several industries. In 2017, HITEC Sensor Developments was formed by the merger of Hitec Sensor Solutions and Sensor Developments. The new company will offer a wide range of custom sensor solutions and services for load, force, pressure, torque strain, motion and temperature testing, as well as both in-house and on-site strain gaging and data acquisition and strain gage bonding. Some of the prominent players as identified in the force sensor market include Flintec Group AB, Dytran Instruments, Inc., HITEC Sensor Developments, Inc., Kistler Group, Honeywell International Inc., Futek Advanced Sensor Technologies, TE Connectivity, Tekscan, Inc., Sherborne Sensors Inc, Lorenz Messtechnik GmbH and ME-Meßsysteme GmbH. Companies are focusing on expanding their business through strategic acquisitions and partnerships with several end-use industries.
Innovations in Medical Devices to Trigger Growth of the Force Sensor Market
The global force sensor market is projected to rise significantly over the forecast period, the. Force sensors, also identified as force transducers, are electronic devices that produce electrical output signals from mechanical forces. In an electric circuit, it functions as a force sensing resistor. It comes with a wide range of advantages, including durability and ultra-thin sensor design, which results in minimal intervention during the device's regular operation and exact response. A wide range of force sensors is available on the market, depending on the working and sensing process.
Manufacturing developments, innovation of medical devices using force sensing technology, augmented demand for industrial robots, growing demand for products, low cost of production, and technological developments are predicted to drive market growth. Volatility in demand across multiple end user sectors, on the other hand, is restricting growth of the global force sensor market, as are underdeveloped aftermarket distribution channels.
Extensive Use of these Sensors in Automation and Measurement Systems to Spur Demand
Sensors have become an important component of every automation and measurement system. The global sensor market is likely to observe an increase in robustness, communication capacity, performance, response time, sensor accuracy, and reliability. These characteristics are likely to driving up the demand for sensors in a wide range of applications. In the coming years, significant innovations in key industries such as manufacturing, aerospace & defence, robotics, and medical and pharmaceuticals are expected to boost the global force sensor market. Transportation equipment, manufacturing tools, and microelectronic packaging all make use of force sensors. Such extensive use of the sensor is likely to open up plethora of opportunities for the global force sensor market in the forthcoming years. Force sensors also find use in a wireless inventory management system to avoid inventory stock-out problems and optimize order scheduling.
Thanks to increasing technological developments and its growing acceptance amongst various end-user applications, North America is likely to come up as one of the leading territories in the global force sensor market.
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1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Force Sensor Market
4. Market Overview
4.1. Introduction
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Key Trends Analysis
4.4. Key Market Indicators
4.5. Global Force Sensor Market Analysis and Forecast, 2016 - 2026
4.5.1. Market Revenue Projections (US$ Mn)
4.5.2. Market Volume Projections (Units)
4.5.3. Price Trend Analysis
4.6. Porter’s Five Forces Analysis - Global Force Sensor Market
4.7. Value Chain Analysis - Global Force Sensor Market
4.7.1. List of Active Market Participants(manufacturers/suppliers/distributors/vendors)
4.7.1.1. Upstream Raw Materials Sourcing
4.7.1.2. Downstream Buyers
4.7.2. Marketing Channel Analysis
4.7.2.1. Direct Marketing
4.7.2.2. Indirect Marketing
4.7.2.3. Marketing Channel Development Trend
4.7.3. Market Positioning
4.7.3.1. Pricing Strategy
4.7.3.2. Brand Strategy
4.7.3.3. Target Client
4.8. Global Force Sensor Manufacturing Cost Analysis
4.8.1. Raw Material Analysis
4.8.1.1. Raw Material Sources
4.8.1.2. Raw Material Cost & Price Trend
4.8.1.3. Raw Material Suppliers
4.8.2. Cost Structure Analysis
4.8.2.1. Price Trend Analysis
4.8.2.2. Labor Cost
4.8.2.3. Production Cost
4.8.3. Force Sensor Manufacturing Process Analysis
4.9. Market Outlook
5. Global Force Sensor Market Analysis and Forecast, By Measurement Type
5.1. Overview& Definition
5.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
5.2.1. Tension Force
5.2.2. Compression Force
5.2.3. Both
5.3. Measurement Type Comparison Matrix
5.4. Market Attractiveness By Measurement Type
6. Global Force Sensor Market Analysis and Forecast, By End-Use Industry
6.1. Overview & Definitions
6.2. Market Size (US$ Mn and Unit) Forecast, By End Use Industry, 2016 - 2026
6.2.1. Oil & Gas
6.2.2. Automotive
6.2.3. Medical
6.2.4. Industrial
6.2.5. Aerospace & Defense
6.3. End Use Industry Comparison Matrix
6.4. Market Attractiveness By End Use Industry
7. Global Force Sensor Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Size (US$ Mn and Unit) Forecast, by Region, 2016 - 2026
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Middle East &Africa
7.2.5. South America
7.3. Market Attractiveness by Region
8. North America Force Sensor Market Analysis and Forecast
8.1. Key Findings
8.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
8.2.1. Tension Force
8.2.2. Compression Force
8.2.3. Both
8.3. Market Size (US$ Mn and Unit) Forecast, By End Use Industry, 2016 - 2026
8.3.1. Oil & Gas
8.3.2. Automotive
8.3.3. Medical
8.3.4. Industrial
8.3.5. Aerospace & Defense
8.4. Market Size (US$ Mn and Unit) Forecast, By Country, 2016 - 2026
8.4.1. The U.S.
8.4.2. Canada
8.4.3. Rest of North America
8.5. Market Attractiveness Analysis
8.5.1. By Measurement Type
8.5.2. By End Use Industry
8.5.3. By Country
9. Europe Force Sensor Market Analysis and Forecast
9.1. Key Findings
9.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
9.2.1. Tension Force
9.2.2. Compression Force
9.2.3. Both
9.3. Market Size (US$ Mn and Unit) Forecast, By End Use End Use Industry, 2016 - 2026
9.3.1. Oil & Gas
9.3.2. Automotive
9.3.3. Medical
9.3.4. Industrial
9.3.5. Aerospace & Defense
9.4. Market Size (US$ Mn and Unit) Forecast, By Country, 2016 - 2026
9.4.1. Germany
9.4.2. U.K.
9.4.3. France
9.4.4. Rest of Europe
9.5. Market Attractiveness Analysis
9.5.1. By Measurement Type
9.5.2. By End Use Industry
9.5.3. By Country
10. Asia Pacific Force Sensor Market Analysis and Forecast
10.1. Key Findings
10.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
10.2.1. Tension Force
10.2.2. Compression Force
10.2.3. Both
10.3. Market Size (US$ Mn and Unit) Forecast, By End Use Industry, 2016 - 2026
10.3.1. Oil & Gas
10.3.2. Automotive
10.3.3. Medical
10.3.4. Industrial
10.3.5. Aerospace & Defense
10.4. Market Size (US$ Mn and Unit) Forecast, By Country, 2016 - 2026
10.4.1. China
10.4.2. India
10.4.3. Japan
10.4.4. Australia
10.4.5. Rest of Asia Pacific
10.5. Market Attractiveness Analysis
10.5.1. By Measurement Type
10.5.2. By End Use Industry
10.5.3. By Country
11. Middle East & Africa Force Sensor Market Analysis and Forecast
11.1. Key Findings
11.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
11.2.1. Tension Force
11.2.2. Compression Force
11.2.3. Both
11.3. Market Size (US$ Mn and Unit) Forecast, By End Use Industry, 2016 - 2026
11.3.1. Oil & Gas
11.3.2. Automotive
11.3.3. Medical
11.3.4. Industrial
11.3.5. Aerospace & Defense
11.4. Market Size (US$ Mn and Unit) Forecast, By Country, 2016 - 2026
11.4.1. GCC
11.4.2. South Africa
11.4.3. Rest of MEA
11.5. Market Attractiveness Analysis
11.5.1. By Measurement Type
11.5.2. By End Use Industry
11.5.3. By Country
12. South America Force Sensor Market Analysis and Forecast
12.1. Key Findings
12.2. Market Size (US$ Mn and Unit) Forecast, By Measurement Type, 2016 - 2026
12.2.1. Tension Force
12.2.2. Compression Force
12.2.3. Both
12.3. Market Size (US$ Mn and Unit) Forecast, By End Use Industry, 2016 - 2026
12.3.1. Oil & Gas
12.3.2. Automotive
12.3.3. Medical
12.3.4. Industrial
12.3.5. Aerospace & Defense
12.4. Force Sensor Market Size (US$ Mn and Unit) Forecast, By Country, 2016 - 2026
12.4.1. Brazil
12.4.2. Rest of South America
12.5. Market Attractiveness Analysis
12.5.1. By Measurement Type
12.5.2. By End Use Industry
12.5.3. By Country
13. Competition Landscape
13.1. Market Player – Competition Matrix
13.2. Market Revenue Share Analysis (%), By Company (2017)
13.3. Company Profiles (Details – Overview, Financials, SWOT Analysis, Recent Developments, Strategy)
13.3.1. Dytran Instruments Incorporated
13.3.1.1. Overview
13.3.1.2. Financials
13.3.1.3. SWOT
13.3.1.4. Strategy
13.3.2. Flintec Inc.
13.3.2.1. Overview
13.3.2.2. Financials
13.3.2.3. SWOT
13.3.2.4. Strategy
13.3.3. Hitec Sensor Developments Inc.
13.3.3.1. Overview
13.3.3.2. Financials
13.3.3.3. SWOT
13.3.3.4. Strategy
13.3.4. Honeywell International Inc.
13.3.4.1. Overview
13.3.4.2. Financials
13.3.4.3. SWOT
13.3.4.4. Strategy
13.3.5. Futek Advanced Sensor Technologies
13.3.5.1. Overview
13.3.5.2. Financials
13.3.5.3. SWOT
13.3.5.4. Strategy
13.3.6. Kistler Group
13.3.6.1. Overview
13.3.6.2. Financials
13.3.6.3. SWOT
13.3.6.4. Strategy
13.3.7. TE Connectivity
13.3.7.1. Overview
13.3.7.2. Financials
13.3.7.3. SWOT
13.3.7.4. Strategy
13.3.8. Tekscan Inc.
13.3.8.1. Overview
13.3.8.2. Financials
13.3.8.3. SWOT
13.3.8.4. Strategy
13.3.9. Lorenz Messtechnik GmbH
13.3.10. ME-Meßsysteme GmbH
13.3.11. Sherborne Sensors
14. Key Takeaways
List of Tables
Table 1: Global Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 2: Global Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 3: Global Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 4: Global Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 5: Global Force Sensor Market Size (US$ Mn) Forecast, By Region, 2016 – 2026
Table 6: Global Force Sensor Market Volume (Units) Forecast, By Region, 2016 – 2026
Table 7: North America Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 8: North America Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 9: Short Term and Long Term CAGR Analysis
Table 10: North America Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 11: North America Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 12: Short Term and Long Term CAGR Analysis
Table 13: North America Force Sensor Market Size (US$ Mn) Forecast, By Country, 2016 – 2026
Table 14: North America Force Sensor Market Volume (Unit) Forecast, By Country, 2016 – 2026
Table 15: Short Term and Long Term CAGR Analysis
Table 16: Europe Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 17: Europe Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 18: Short Term and Long Term CAGR Analysis
Table 19: Europe Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 20: Europe Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 21: Short Term and Long Term CAGR Analysis
Table 22: Europe Force Sensor Market Size (US$ Mn) Forecast, By Country, 2016 – 2026
Table 23: Europe Force Sensor Market Volume (Unit) Forecast, By Country, 2016 – 2026
Table 24: Short Term and Long Term CAGR Analysis
Table 25: Asia Pacific Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 26: Asia Pacific Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 27: Short Term and Long Term CAGR Analysis
Table 28: Asia Pacific Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 29: Asia Pacific Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 30: Short Term and Long Term CAGR Analysis
Table 31: Asia Pacific Force Sensor Market Size (US$ Mn) Forecast, By Country, 2016 – 2026
Table 32: Asia Pacific Force Sensor Market Volume (Unit) Forecast, By Country, 2016 – 2026
Table 33: Short Term and Long Term CAGR Analysis
Table 34: MEA Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 35: MEA Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 36: Short Term and Long Term CAGR Analysis
Table 37: MEA Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 38: MEA Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 39: Short Term and Long Term CAGR Analysis
Table 40: MEA Force Sensor Market Size (US$ Mn) Forecast, By Country, 2016 – 2026
Table 41: MEA Force Sensor Market Volume (Unit) Forecast, By Country, 2016 – 2026
Table 42: Short Term and Long Term CAGR Analysis
Table 43: South America Force Sensor Market Size (US$ Mn) Forecast, By Measurement Type, 2016 – 2026
Table 44: South America Force Sensor Market Volume (Unit) Forecast, By Measurement Type, 2016 – 2026
Table 45: Short Term and Long Term CAGR Analysis
Table 46: South America Force Sensor Market Size (US$ Mn) Forecast, By End-Use Industry, 2016 – 2026
Table 47: South America Force Sensor Market Volume (Unit) Forecast, By End-Use Industry, 2016 – 2026
Table 48: Short Term and Long Term CAGR Analysis
Table 49: South America Force Sensor Market Size (US$ Mn) Forecast, By Country, 2016 – 2026
Table 50: South America Force Sensor Market Volume (Unit) Forecast, By Country, 2016 – 2026
Table 51: Short Term and Long Term CAGR Analysis
Table 52: Competitive Dashboard
List of Figures
Figure 1: Executive Summary
Figure 2: Global Force Sensor Market Revenue Projection and Y – o – Y Growth, 2016-2026 (US$ Mn)
Figure 3: Global Force Sensor Market Volume Projection and Y – o – Y Growth, 2016-2026 (Units)
Figure 4: Global Force Sensor Market Price Trend Analysis
Figure 5: Porter’s Five Forces Analysis
Figure 6: Value Chain Analysis
Figure 7: Global Average Cost (USD/MT) Trend of Raw Material (Stainless Steel, Aluminum, Nickel)
Figure 8: Manufacturing Cost Structure of Force Sensor
Figure 9: USA Employment Cost Index (ECI) 2015-2018
Figure 10: China Labor Cost Index, 2015-2018
Figure 11: Japan Productivity and Wage Cost, 2017-2018
Figure 12: Germany Labor Cost Index, 2016-2018
Figure 13: Global Force Sensor Production Price Trend Analysis, Y-o-Y Growth (%) Forecast, 2017 – 2026
Figure 14: Force Sensor Manufacturing Process Analysis
Figure 15: Global Force Sensor Market Outlook
Figure 16: Global Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 17: Global Force Sensor Market Comparison Matrix, By Measurement Type
Figure 18: Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 19: Global Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 20: Global Force Sensor Market Comparison Matrix, By End-Use Industry
Figure 21: Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 22: Force Sensor Market, by Region: Snapshot (2018E)
Figure 23: Force Sensor Market Attractiveness Analysis, By Region
Figure 24: North America Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 25: North America Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 26: North America Force Sensor Market Value Share Analysis, By Country, 2018 and 2026
Figure 27: North America Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 28: North America Force Sensor Market Attractiveness Analysis, By Country
Figure 29: North America Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 30: Europe Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 31: Europe Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 32: Europe Force Sensor Market Value Share Analysis, By Country, 2018 and 2026
Figure 33: Europe Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 34: Europe Force Sensor Market Attractiveness Analysis, By Country
Figure 35: Europe Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 36: Asia Pacific Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 37: Asia Pacific Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 38: Asia Pacific Force Sensor Market Value Share Analysis, By Country, 2018 and 2026
Figure 39: Asia Pacific Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 40: Asia Pacific Force Sensor Market Attractiveness Analysis, By Country
Figure 41: Asia Pacific Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 42: MEA Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 43: MEA Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 44: MEA Force Sensor Market Value Share Analysis, By Country, 2018 and 2026
Figure 45: MEA Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 46: MEA Force Sensor Market Attractiveness Analysis, By Country
Figure 47: MEA Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 48: South America Force Sensor Market Value Share Analysis, By Measurement Type, 2018 and 2026
Figure 49: South America Force Sensor Market Value Share Analysis, By End-Use Industry, 2018 and 2026
Figure 50: South America Force Sensor Market Value Share Analysis, By Country, 2018 and 2026
Figure 51: South America Force Sensor Market Attractiveness Analysis, By Measurement Type
Figure 52: South America Force Sensor Market Attractiveness Analysis, By Country
Figure 53: South America Force Sensor Market Attractiveness Analysis, By End-Use Industry
Figure 54: Global Force Sensor Market Revenue Share Analysis, By Company (2017)
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