Global LVDT Sensors Market will Grow by 10.05% CAGR by 2023

The global LVDT sensors market is expected to grow with a CAGR of 10.05% during the forecast period. An LVDT (linear variable differential transformer) is a sensor that is used in the measurement of linear displacement and in the conversion of mechanical motion of an object into a variable electrical current or voltage signal. It is being widely used across industries such as aerospace & defense, medical & healthcare, and others owing to its accuracy and excellent performance. The growing use of these sensors in proximity warning systems, monitoring and measurement systems, automobile parking, and others, is increasing the market demand for LVDT sensors.

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LVDT sensors are widely used in the automotive industry, owing to the rising awareness about consumer safety and government rules and regulations for automobile manufacturing. The robust, rugged, and the compact design of the sensor makes it convenient to be used in automobiles. In addition to this, LVDT sensors are also, be used in aircraft to calculate minute displacements, and depending upon the mounting system and signaling conditions, the electrical output indicates various angles, rates, lengths, and motion of the aircraft.

The performance of LVDT sensors may get affected by high temperatures and this can hamper the market demand. However, the market demand for LVDT sensors is expected to witness significant growth during the forecast period, owing to its rising use in electronic systems for supplying excitation power and other such functions.

The LVDT sensors market is segmented based on type, end-use industry, and region. Based on the application type, the market is segmented as automotive, aerospace & defense, consumer electronics, medical & healthcare, industrial machinery, and others. Among these, the consumer electronics segment is expected to witness significant growth during the forecast period, owing to its ability to convert rectilinear motion into electrical signals and supply power to the device. On the basis of regions, the Asia-Pacific region is expected to grow significantly, owing to the manufacturing companies relocating to this region for low-cost labor.

The key players in the market are Active Sensors, Applied Measurements, Honeywell, Keyence, LORD MicroStrain, Micro-Epsilon, OMEGA Engineering, Omni Instruments, RDP Electronics, TE Connectivity, and others. Various developments and strategies such as alliances, partnerships, joint ventures, mergers & acquisitions and other are being adopted by organizations to expand their market portfolio and generate revenue. For instance, in 2017, LORD MicroStrain, a motion management device company has developed a robust and highly accurate LS-LVDT Series Compact Linear Displacement Sensor for applications such as measuring strain and deflection in structures and materials, dimensional gauging for quality control, process control in production line monitoring, and miniature position control elements to withstand harsh environmental conditions.

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