Variable Reluctance Sensor Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4130
Variable Reluctance Sensor Market size is expected to witness modest growth over the forecast period owing to its extensive adoption in the automotive sector for speed and position sensing applications such as camshafts, crankshafts, transmission shafts, and others. These components are also widely used across the aerospace sector for motor control. An important benefit of these sensors is that they can integrate the comparator and precision amplifier, which helps in generating robust output pulses. These components can operate even in the presence of very weak signal strength as well as substantial system noise driving adoption of the variable reluctance sensor market.
Other benefits offered by these components such as lower costs and robust technology for sensing will add to the growth of the variable reluctance sensor market. These components are highly reliable as they require very low wiring connections, electric signals are self-generated, allowing these sensors to operate efficiently without any external power supply. In addition, they can function at higher temperatures which makes them very suitable for applications, such as sensing turbine speed in jet engines, augmenting the growth of the market. In addition, these sensors are highly customizable and can be used for application-specific requirements.
The automotive sector will highly contribute to the growth of the variable reluctance sensor market. The automotive market has been flourishing over the years particularly in Asia Pacific due to improving standard of living in countries such as India. The automobiles currently are being implemented with a large number of speed and position sensors for measuring the rotation in individual tire speeds, transmission, and output shafts. These sensors provide signals, which can be used to control traction controls, limited-slip control, cruise control, and transmission shift points. The growing safety measures by automotive manufacturers are driving the implementation of these sensors in safety systems, such as anti-lock braking systems, influencing the growth of the market. The operational ruggedness and simple designs of these sensors result in their growing adoption in automobiles.
Aviation & space will be another major area of application in the market. They enable the compact system design, making them suitable for these applications. These sensors are being extensively used in bearing and power transmission assemblies, turbine speed sensing, and others and can be used in a very harsh environment without affecting the performance.
North America and Asia Pacific are the key regions for the growth of the variable reluctance sensor market. The growth of the market in North America is attributed to the large aerospace industry in the U.S. The region has the world’s largest aerospace industry, which will be a major factor for the market demand. The U.S. aerospace industry contributed to USD 151 billion of exports in 2018 according to the U.S. Department of Commerce program, SelectUSA. Moreover, the inward stock of Foreign Direct Investment (FDI) in aerospace manufacturing in the U.S. was more than USD 21 billion in 2017.
Countries in the Asia Pacific region, particularly China witnessed rapid developments and growth in the automotive sector. China holds a number of global automotive manufacturers and is among the largest markets for the automotive sector. The presence of skilled labor force and cheap raw materials attracted a number of automakers to invest in the country. India will be another important contributor to the growth of the variable reluctance sensor market in the Asia Pacific region. The allocation of 100% FDI by the Indian Government has boosted automotive manufacturing in the country. The automotive production in India increased by 8% in 2018, according to the International Organization of Motor Vehicle Manufacturers (OICA), which will add to the demand in automotive applications.
Maxim Integrated, Texas Instruments, HarcoSemco, Honeywell International, Inc., Sensoronix, ON Semiconductor, National Semiconductor, Magnetic Sensors Corporation, and Diamond Electric Manufacturing Corp. are some of the players in the market. These companies are strengthening distribution channels to increase their market share. In February 2018, Maxim Integrated announced the extension of a distribution agreement with Avnet to increase its business operations in Israel. High competition in the automotive industry is forcing the companies to focus on new product developments and widen the product portfolio, augmenting the growth of the variable reluctance sensor market. For instance, Maxim Integrated offers MAX9924 to MAX9927 range of sensors for automotive applications.
The variable reluctance sensor market can be hindered by some factors such as costs associated with the signal-processing circuitry. Though the components have low-cost transducer, wire, and magnets, the signal processing circuit can increase the overall system cost. Another restraining factor for the market is that these sensors cannot be used for very low-speed signals. The magnitude of the signals developed by these components is directly proportional to the target speed, making it difficult to design the circuitry needed for these low-speed signals, which can hinder the market growth to some extent.
Variable Reluctance Sensor Market, By End-use
The above information has been provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
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