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Variable Reluctance Sensor Market Size is expected to increase considerably from 2021 to 2027. This is a result of the myriad benefits of VR sensors, such as low costs, robust proven speed sensing technology, and high reliability due to their self-generating electric signals. Furthermore, the ability of the sensor to operate in high-temperature applications, making it ideal for speed sensing for aircraft jet engines, will further augment the need for variable reluctance speed sensors. A variable reluctance sensor refers to an alternating current generator where its output voltage is proportional to speed. The sensor comprises a permanent magnet as well as a ferromagnetic pole piece that is surrounded by a coil wire. It generates analog voltage output signals when the ferromagnetic materials pass by the tip of the pole piece, which are then sent to the control unit to be converted into digital signals to support the controlling function.
Implementation of stringent vehicle safety standards attributed to the surging cases of road fatalities is one of the prominent factors characterizing variable reluctance sensor market trends through 2027. Federal Motor Vehicle Safety Standards, for example, specify mandatory minimum safety requirements for the construction, design, durability, and performance of vehicles in the U.S. Such vehicle safety standards could impel the deployment of variable reluctance sensor circuit, since it is used in wheel speed sensors for anti-lock braking and other vehicle applications. The rising awareness about the benefits of using variable reluctance stepper motors in cost-sensitive applications, where the stop position of the motor needs to be maintained, will also facilitate industry expansion in the coming years.
Considering end-use, the variable reluctance sensor market from the aerospace segment is set to exhibit a high growth rate through 2027, driven by the increased spending in aircraft manufacturing. For instance, Airbus planned to increase the A220 production from four to five aircraft per month from the end of the first quarter of 2021, which could bolster the product demand as it is considered ideal for aircraft speed sensing. However, the decline in production of commercial aircraft during the coronavirus crisis may have hampered the industry outlook over the past months.
Europe variable reluctance sensor market will account for a commendable share of the global industry by 2027, given the surge in road crashes across the region. This has boosted the need for effective safety features in vehicles, in turn contributing to adoption of variable reluctance sensors. In addition, the steady recovery of vehicle sales from the pandemic in the EU will further spur the use of variable reluctance transducer, as this type of sensor is widely adopted in ignition systems and other vehicle applications.
Some of the key players in the global market are Diamond Electric Manufacturing Corp., Magnetic Sensors Corporation, National Semiconductor (Texas Instruments), ON Semiconductor, Sensoronix, Honeywell International, Inc., HarcoSemco, and Maxim Integrated. These companies are focusing on strategies like new product launches, partnerships, and acquisitions to expand their business across the global market.
COVID-19 to Influence Variable Reluctance Sensor Market Trends:
The novel coronavirus pandemic has impacted investment activity across the industrial sectors, mainly owing to movement restrictions and interrupted supply of machinery and equipment. However, the larger effects on investment spending in the initial months of the pandemic were mainly due to lower energy demand. This decline in energy consumption has adversely impacted the industry, provided the significant role of variable reluctance energy harvesting systems in converting the rotation motion to electrical energy. Despite such setbacks from the pandemic, the industry may regain traction as people avoid mass transportation and vehicle sales continue to increase during the pandemic, which could amplify demand for variable reluctance sensors in vehicles over the years ahead.
Market, By End-use
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