Littelfuse, Standex-Meder Electronics and YASKAWA Europe are some key players of Global Reed Sensor Market Forecast 2018 - 2024

Reed sensor market size is anticipated to grow owing to the increasing demand from the consumer electronics industry for battery-operated applications. The technology is being used in several household appliances such as washing machines, coffee machines, refrigerators, dryers, and dishwaters, etc.

The demand for appliances is growing owing to the increasing disposable income of people in Asia Pacific and Latin America, contributing toward the growth of the Reed sensor market. The sensors are witnessing an extensive demand from HVAC applications such as air conditioners, compressors & condensers, water flow, gas smart meters, etc.

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Moreover, the growing use of these components for cargo theft prevention and in medical equipment has added an extra value to its portfolio. For instance, the sensors are used in canal hearing aids, driving the demand for reed sensors in the healthcare equipment. The technology enables patients to adjust the volume and program the microelectronics. Other applications of reed sensors in medical equipment include pediatric feeding tubes, pacemakers & defibrillators, dentist drill activation, spirometers, etc.

Leading Players operating in Reed sensor market are BERNSTEIN AG, Coto Technology, HSI Sensing, Littelfuse, MAGNASPHERE CORPORATION, Nippon Aleph Corporation, NTE Electronics, Inc, PIC GmbH, Reed Switch Developments Corp., Ryazan Metal Ceramics Instrumentation Plant JSC, Soway Tech Limited, Standex-Meder Electronics, S.t.g. Germany GmbH, YASKAWA Europe, Zhejiang Xurui Electronic.

The industrial controls & automation segment in the Reed sensor market will witness growth to reach over USD 300 million by 2024 due to an increased demand in the industrial sector for ferrous part detection, end-position sensing in cylinders & pistons, and in transformer tap changers. They are considered as the extremophile of sensors as they work efficiently in most harsh environments and can be used from the bottom of the ocean (high pressure) to space (zero pressure) and from very cold (cryogenic temperatures) to very hot (> 200 C).

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The reed sensor market has been segmented by product, contact position and application. Based on contact position, form A is estimated to hold the largest market share owing to their capability to be manufactured in smaller sizes than other contact forms. This is driving their demand across various verticals contributing towards the growth of the market. Asia Pacific is projected to dominate the reed sensor market due to their extensive demand from the electronics industry from regions such as Taiwan, South Korea and China. The flourishing automobile market in China is one of the major factors for the demand for these components for passenger comfort and other electronic systems.

Asia Pacific Reed sensor market dominates the industry and is expected to grow in terms of unit shipment at a CAGR of 12.5%. This is attributed to the established electronic and automotive industries of Taiwan and China respectively. Shanghai and Beijing are the major regions for the manufacturing of automobiles, communication equipment, and electronics in China, augmenting the market.

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Government support provided to Taiwan’s electronics industry is one of the major factors augmenting demand. Growing market for smart home devices in South Korea is further contributing toward industry growth. A high demand for remote home monitoring systems is creating opportunities for the market as many manufacturers are expanding their smart home product portfolios.

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