DUBLIN, July 12, 2023 /PRNewswire/ — The “Fork Sensors: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Fork Sensors estimated at US$292.3 Million in the year 2022, is projected to reach a revised size of US$500.7 Million by 2030, growing at a CAGR of 7% over the analysis period 2022-2030.
Optical, one of the segments analyzed in the report, is projected to record a 7.7% CAGR and reach US$238.7 Million by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Ultrasonic segment is readjusted to a revised 6.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $69 Million, While China is Forecast to Grow at 8.4% CAGR
The Fork Sensors market in the U.S. is estimated at US$69 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$65.1 Million by the year 2030 trailing a CAGR of 8.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 6.1% respectively over the 2022-2030 period.
Within Europe, Germany is forecast to grow at approximately 6.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$51.3 Million by the year 2030.
Select Competitors (Total 31 Featured) –
- Balluff GmbH
- Baumer Holding AG
- Datalogic S.p.A.
- Leuze electronic bv
- M.D.Micro Detectors S.p.A.
- Omron Corporation
- Pepperl+Fuchs SE
- Rockwell Automation, Inc.
- SensoPart Industriesensorik GmbH
- Sick AG
- Telemecanique Sensors
- Telco Sensors Inc.
- WayCon Positionsmesstechnik GmbH
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- Rising Levels of Unemployment Threatens to Shrink the Global Middle Class Population: Unemployment in the U.S. (In Million)
- Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
- Industrial Activity Remains Subdued, Inducing Weakness into Fork Sensors Market
- Global PMI Index Points for the Years 2018, 2019 & 2020
- Fork Sensors: A Brief Synopsis
- Ideal for Detecting Small Parts
- Fork Sensor with Combined Benefits of Ultrasonic and Light-based Sensors
- Tuning Fork Sensors: Definition and Functionality
- An Innovative Tuning Fork Sensing Technology-based Sensor
- Benefits of Tuning Fork Sensors
- Applications for Tuning Fork Sensors
- Global Fork Sensors Market: Prospects & Outlook
- Analysis by Type: Optical Fork Sensors to Witness High Growth
- World Fork Sensors Market by Type (2020 & 2027): Percentage Breakdown of Sales for Optical, Ultrasonic, and Vibrating Tuning
- Analysis by End-Use
- World Fork Sensors Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Manufacturing, Packaging & Labeling, and Other End-Uses
- Regional Analysis
- World Fork Sensors Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
- World Fork Sensors Market – Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Latin America, Africa, Middle East, USA, Japan, Europe, and Canada
- Competitive Scenario
- Recent Market Activity
- Fork Sensors – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Demand in Packaging & Labeling Applications
- Fork Sensors Facilitate Seamless Coordination in Quality Control and Track & Trace in Packaging Processes
- Sophisticated Fork Sensors Come to the Fore for Labeling Machines
- Printing & Packaging Made Easier in Consumer Goods Processing
- Emphasis on Automation and Shift Towards Industry 4.0 Widen Business Opportunities
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
- Industrial Robots Usage to Spike Post COVID-19 Period: Industrial Robot Density (Units Per 10,000 Workers)
- Demand for Robust Identification Technologies for Real-Time Tracing in Food Industry Bodes Well
- Healthy Trajectory in Food & Beverages Sector Augurs Well
- Global Packaged Food Sales in US$ Trillion: 2014-2024
- Expanding IIoT Ecosystem to Provide Steady Demand Prospects
- Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
- Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
- Relevance of Accurate Monitoring & Inspection Widens Business Case
- Technology Advancements & Innovations Steer Momentum
- Leuze’s GSX Fork Sensor: A Breakthrough Design
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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