Transparency Market Research delivers key insights on the global linear displacement sensor market. In terms of revenue, the global linear displacement sensor market is estimated to expand at a CAGR of ~9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global linear displacement sensor market.
The global linear displacement sensor market is broadly affected by several factors, including increase in adoption of LVDT sensors in multiple industrial fields and rise in demand for small and light miniature sensors. Thus, expanding application of linear displacement sensors in different sectors is propelling the global linear displacement sensor market.
Linear Displacement Sensor Market: Dynamics
Linear Variable Differential Transformer (LVDT) is an electromechanical device and a type of linear displacement sensor, which is used to convert mechanical motion or vibrations, specifically rectilinear motion into a variable electrical current, voltage or electric signals. In LVDT transducers, there is no physical electrical contact across the transducer position sensing element, owing to which it has an infinite resolution and a very long life cycle.
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Moreover, LVDT sensor devices offer several advantages. They are lightweight and compact in size, consume low power, and have very low output impedance. LVDT’s are engineered and designed to accommodate many industry applications, such as aerospace & defense, power turbines, automation, and hydraulics due to these advantages. Thus, adoption of LVDTs in multiple industrial fields is significantly high, which is expected to drive the growth of the global linear displacement sensor market during the forecast period.
Linear Displacement Sensor Market: Prominent Regions
The linear displacement sensor market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and growth of consumer electronics and industrial automation in the region. The linear displacement sensor market in Europe is projected to witness favorable growth during the forecast period, as rise in industrial activities and expansion of the automotive sector in the region are significant. The Asia Pacific linear displacement sensor market is likely to expand during the forecast period, owing to the presence of a large number of players designing and producing linear displacement sensors.
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Linear Displacement Sensor Market: Key Players
Key players operating in the global linear displacement sensor market are Althen Sensors, Honeywell International Inc., Keyence Corporation, Micro-Epsilon, Omron Corporation, Panasonic Corporation, Positek Limited, TE Connectivity, TRANS-TEK Inc. and Vishay.