What is Eddy Current Sensor Market?
An eddy current sensor operates based on the inductive eddy-current principle. It measures the distance based on the extraction of energy from an oscillating circuit that is required to generate eddy current in an electrically-conductive material. Eddy current sensors are primarily used for position and displacement measurement of electrically conductive targets. They are generally used for measuring ferromagnetic and non-ferromagnetic materials. Eddy current sensors are suitable for applications in harsh industrial environments due to their superior tolerance for dirt, oil, dust, moisture, and magnetic interference fields.
The market study is being classified by Type (Split Type Eddy Current Displacement Sensor and Integrated Eddy Current Displacement Sensor), by Application (Automobile, Aerospace, Electric Power, Petroleum, Chemical and Other Industries) and major geographies with country level break-up.
General Electric (United States), Bruel and Kjar Vibro (Germany), Lion Precision (United States), Bestech (Australia), Cedrat Technologies (France), Kaman Corp. (United States), Micro-Epsilon (Germany), Emerson Electric (United States), SHINKAWA (Japan), KEYNECE (Japan) and RockWell Automation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are LaunchPoint Technologies Inc. (United States) and Althen Sensors & Controls BV (Netherlands).
The bargaining power of suppliers is expected to be high owing to increased demand for eddy current sensors from various end-user industries. Some of the prominent vendors are adopting some organic and inorganic strategies such as merger, acquisition, expansion, among others in order to gain leading share within the industry. Some of the key players are focusing on technological advancements in order to offer products as per the market necessities. Research Analyst at AMA predicts that United States, German, and Chinese Players will contribute to the maximum growth of Global Eddy Current Sensor market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Eddy Current Sensor market by Type, Application and Region.
On the basis of geography, the market of Eddy Current Sensor has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The Capability of Eddy Current Sensors for Measuring Position and Displacement of Objects in Harsh Environments
- Overall Cost Reductions in Eddy Current Sensors
- The Surging Demand from Various End-User Industries
Market Trend
- Eddy-Current Sensors Are Now Replacing Inductive Sensors and Switches
Opportunities
- Technological Advancements in Eddy Current Sensors
- The Emerging Demand from Developing Countries
Key Target Audience
Eddy Current Sensors Manufacturers, Eddy Current Sensors Traders/Distributors, Eddy Current Sensors Importer/Exporter, Regulatory & Government Bodies, End Users and Others