Reed Sensor Market Size By Product (Dry, Mercury Wetted), By Contact Position (Form A, Form C), By Application (Automotive, Consumer Electronics, Telecommunications, Healthcare, Construction & Security, Industrial Controls & Automation), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024
Published Date: Oct 2018 | Report ID: GMI2965 | Authors: Preeti Wadhwani, Shubhangi Yadav
Reed Sensor Market size surpassed USD 1 billion in 2017 and is poised to grow at a CAGR of over 7% between 2018 and 2024. The global industry shipments are expected to reach 3 billion units by 2024.
Growing demand for advanced sensor technology across several industries such as medical, aerospace & defense, security, telecommunications, transportation, and utilities is driving the market revenue. These industries use reed sensors for numerous applications including sensing and detecting movement, metal detection, proximity sensing, liquid level, and flow measurement.
The sensors require low power consumption, making them useful for several battery-operated applications and are available in power ratings of up to 100W in different sizes. Electrical equipment manufacturers are using these sensors actively due to their simpler design and low cost.
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The growing adoption of smart home in developed nations, such as the U.S., is projected to augment the reed sensor market demand. Moreover, the reed sensors are used in manufacturing facilities for liquid flow and level monitoring, machinery ignition systems, visual indications, etc., as they work efficiently in extreme environments, propelling the market growth.
Factors such as large size of the reed sensors, lower durability, and competition from Hall-effect technology as a result of advancements in magnetic resonance technologies are limiting the growth of the market.
|Base Year:||2017||Market Size in 2017:||1 Billion (USD)|
|Historical Data for:||2013 to 2017||Forecast Period:||2018 to 2024|
|Forecast Period 2018 to 2024 CAGR:||7%||2024 Value Projection:||2 Billion (USD)|
|Pages:||310||Tables, Charts & Figures:||432|
|Geographies covered (23):||U.S., Canada, Germany, UK, France, Italy, Switzerland, Spain, Denmark, Russia, China, India, Japan, South Korea, Taiwan, Singapore, Brazil, Mexico, Argentina, Saudi Arabia, UAE, Qatar, South Africa|
|Segments covered:||Product, Contact Position, Application and Region|
|Companies covered (16):||Bernstein AG, Coto Technology, HSI Sensing, Littelfuse, Magnasphere, Nippon Aleph, NTE Electronics Inc., PIC GmbH, Reed Switch Developments Corporation, Ryazan Metal Ceramics Instrumentation Plant JSC, Soway Tech Limited, Standex Meder Electronics, Schneider Electric, STG Germany GmbH, Yaskawa Controls, Zhejiang Xurui Electronic|
|Pitfalls & Challenges:||
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Market by Product
The dry reed sensors will witness a growth of over 9.5% through 2024 driven by growing transition of manufacturers to adopt dry switching technology over mercury-wetted. This shift is owing to rising environmental concerns regarding the use of mercury. Though mercury-wetted provides more consistent contact resistance, the growing use of mercury in electronic components is being regulated by countries all over the world in consideration of the Minamata Convention.
Market by Contact Position
The extensive applications of the reed sensors in all types of equipment have made manufacturers to produce them in hundreds of different sizes and shapes to meet a multitude of requirements. The products are available in contact forms A, B, C, D, and E with power ratings up to 100W. These sensors exhibit exceptional performance in long operating life applications with a life expectancy up to 1 billion operations as they do not drain power in non-operational mode.
The most widely used reed sensors are of the type Form A due to their relatively smaller size than other switching technologies. Form A sensors are widely manufactured on account of their ability to provide more miniaturized portable devices.
Form C sensor segment is anticipated to register around 8% gains till 2024 led by its increasing use in relays that require closed SPST device. The Form C sensors can also be used as Form B and are suitable for several applications in different markets including machine control, alarm &security, test & measurement, and control elements.
Market by Application
The automotive applications held a majority reed sensor market revenue share of nearly 30% in 2017. There is a significant demand for reed sensors in automotive systems for relays, entertainment, communication, and safety. These sensors serve a plethora of applications including seatbelt locking, anti-theft alarm, power windows, door-latch sensing, coolant flow sensing, speed sensing, seatbelt lock sensing, and inclination sensing.
The growing demand for electric vehicles across the globe has created further growth opportunities for the market. Reed sensors are being used in electric car chargers to minimize the time needed for charging the vehicle. Moreover, they are being installed in electric cars in charging sockets and a magnet is available at the end of the charging cable. The use of these sensors creates an accurate locking signal on the charging circuit, making them vital for EVs.
Market by Region
Asia Pacific holds the largest market share owing to increasing demand for reed sensors from countries including South Korea, China, and Japan. China being a major market for electric vehicles, home electronics contribute toward the significant industry demand. Further, technological advancements across several industries in China along with growing industrial equipment sector is driving the market growth.
The U.S. reed sensor market size crossed USD 350 million in 2017 and is predicted to observe lucrative growth during the forecast period driven by growing automotive sector in the region. A huge adoption of smart homes, automated security systems, voice-controlled thermostats, and mood lights in the United States will further drive the market revenue.
Competitive Market Share
Major companies in the market are Littelfuse, Standex-Meder Electronics, HIS Sensing, RMCIP, and Nippon Aleph. Industry players are offering customized solutions, catering to different requirements of several industries. They are also strengthening their distribution network for tapping the potential opportunities.
The market research report on reed sensors includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD and volume/shipments in units from 2013 to 2024, for the following segments:
- Mercury Wetted
By Contact Position
- Form A
- Form C
- Consumer Electronics
- Construction &Security
- Industrial Controls & Automation
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
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