MarketThe LVDT displacement sensors are popular for their ability to be the eyes and ears of the technical system. The displacement senses are the electromechanical devices that convert mechanical motion into electrical signal either current or voltage to measure the displacement in a technical system. These sensors are works as mechanical motion sensors in measurement technologies or in automatic control systems.
The LVDT displacements sensors have wide applications inautomobile parking systems, monitoring and measurement systems, and proximity warning systems. These extensive applications are majorly driving the demand for LVDT displacement sensors. The rising safety concerns in the food and beverages industry have made theLVDT displacements sensors priority for the displacement measurement. Additionally, the growing demand forsafety and security systems in electric vehicles and driving assistance systems are propelling the demand for theLVDT displacements sensors.
In the current market scenario, the rapidly rising technological advancements ininfotainment systems and automotive security along with emerging trends towards factory process automation is fuelingtheLVDT displacements sensors market.
LVDT Displacements SensorsMarket Dynamics
The global LVDT displacements sensorsmarket was valued at USD 5.2 Billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 10.0% between 2021 to 2028. The market is broadly classified based on type, product, and application. The type is further classified as DC operated LVDT sensor, AC operated LVDT sensor, digital I/O LVDT sensor and others. The market is divided among various applications as automotive, aerospace and defence, medical and healthcare, energy and power, consumer electronics, oil and gas and other applications. Among these, the aerospace and defence segments hold the largest market share. The extensive applications of the LVDT displacement sensors like nose wheel steering, engines, pilot control, and flight controls for continuous monitoring are contributing to the dominance of the aerospace and defence segment in the region.
The companies associated with the LVDT displacement sensors are RDP Electrosense, Inc., Kenyence Corporation, IFM Effector Inc., Trans-Tek Inc, Brunswick Instrument, LLC, Ametek Solartron Metrology, Omega Engineering Inc., Micro-Epsilon And Te Connectivity Ltd, among others.
Regionally, North America is majorly contributing to the market. The applications such as power turbines, automation, nuclear reactors, aircraft, satellites, hydraulics, and many others having extensive use of LVDT displacements sensorsare bolstering in the North-American region. The market in the region is highly competitive and suitable for new entrants due to the presence of a large number of suppliers, low switching costs and moderate bargaining power.