Global Fork Sensors Market Predicted to Reach $500.7 Million by 2030: Driven by Advances in Optical and Ultrasonic Technologies

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Jul 12, 2023, 21:45 ET

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:

I. METHODOLOGY

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

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/ptingo

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