Global Ultrasonic Sensor Market Set to Surpass $10.0 Billion Revenue by 2030

The increasing need for ultrasonic sensors from manufacturing industries is one of the biggest factors propelling the demand for these sensors across the world. In manufacturing industries, the ultrasonic sensors are used in a plethora of applications such as diameter measurement of roll, tank water level measurement, loop control, distance measurement, and height measurement. Owing to the soaring industrial production in developing nations, the demand for ultrasonic sensors will rise significantly especially in level measurement applications. For instance, it was recorded in September, 2019 that the industrial production in Turkey registered a year-on-year (YoY) growth rate of 3.4%.

Market Key Players: 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, and Baumer Holding AG.

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Due to the above-mentioned factors, the ultrasonic sensor market is expected to increase its value from $4.1 billion in 2019 to $12.1 billion by 2030, demonstrating a CAGR of 10.2% during the forecast period (2020--2030). Ultrasonic sensors are widely used in industrial, automotive, healthcare, food & beverage, and agricultural sectors. Amongst these, the automotive sector is expected to observe the fastest growth in the adoption of ultrasonic sensors during the forecast period, primarily due to the rising demand for these sensors for use in self-driving cars for obstacle detection.

Market Segmentation by Type
Range Measurement
Through beam sensor
Retro-reflective sensor
Proximity Detection
Proximity sensor
2 point proximity switch

Market Segmentation by Application
Level Measurement
Distance Measurement
Object & Pallet Detection
Loop Control
Diameter Measurement
Others (Height Measurement and Web Break Detection)

Market Segmentation by End User
Food & Beverage
Automotive
Healthcare
Agriculture
Industrial
Others (Marine and Aerospace & Defense)

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Globally, the Asia-Pacific (APAC) region recorded the highest usage of ultrasonic sensors in 2019. This region is also expected to witness the fastest growth in the adoption of ultrasonic sensors during the forecast period. This is mainly ascribed to the increasing need for these sensors for automation in industries. Additionally, the increasing population level and rising focus on smart agriculture in India and China, is considerably boosting the demand for ultrasonic sensors in APAC. The expansion of food & beverage, chemicals, and automotive manufacturing industries is also fuelling the rising demand for ultrasonic sensors in APAC.

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Hence, it is clear that owing to the surging demand for ultrasonic sensors from the manufacturing industries, growing popularity of premium vehicles, and the increasing need for ultrasonic sensors for use in the advanced automotive systems of these vehicles, the demand for ultrasonic sensors will grow consistently over the next few years.

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This release was published on openPR.