Global Fluxgate Sensor Market Overview
Global Fluxgate Sensor Market is forecast to reach $587.67 million by 2025, growing at a CAGR of 7.8% during the forecast period 2020-2025. The growth is attributed to its rising applications including navigation systems, industrial monitoring and control systems, overcurrent Detection, detection of ferrous objects, altitude and position sensing and others. Moreover, substantial growth of electrical and electronics industry owing to growing consumer needs tends to boosts the market growth in the forecast period 2020-2025.
The report: “Fluxgate Sensor Market – Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the Fluxgate Sensor Market.
By Axis Types - Single axis sensor, Three axis sensor
By Sensor Type - Taped core sensor, Toroid core sensor, PCB based sensor
By Application - Navigation Systems, Industrial Monitoring and Control Systems, Overcurrent Detection, Detection of ferrous objects, Altitude and position sensing, Others.
By End user - Automotive, Industrial, Robotics, Healthcare, Defense, Electrical and Electronics, Aerospace, Sub-marine, Media & Communications, Energy and Power, Others
By Geography - North America ,South America, Europe, APAC, RoW.
- Suitability of fluxgate sensors to be used in micro or nano-electronics technologies due to its compact size increases its demand in the market thereby enhancing the market growth of fluxgate sensor.
- Higher reliability and sensitivity of fluxgate sensor makes it beneficial for detection of small magnetic fields owing to which its demand rises in the market thereby propelling the market growth of fluxgate sensor.
- North America region dominate the Fluxgate Sensor market owing to the presence of developed countries, industrialization and the key market players in this region that tends for innovative developments that would provide the consumers with more advanced products.
By Axis Type- Segment Analysis
Fluxgate sensor market is segmented into single axis sensor and three axis sensor based on axis type. Three axis sensor held the largest market share in 2019 and is anticipated to witness a significant market growth in the forecast period 2020-2025. The market growth is due to factors such as compact structure, precise measurement, low power consumption and others. In May 2019, updated version of 3-axis Mag-13X fluxgate sensor was launched by Bartington that has features including a temperature sensor and an electric shield. This features were designed for reducing emissions, making it more environmentally sustainable. Moreover, it is applicable in bio-medicine, data storage, consumer electronics and automotive industries. The launch of these fluxgate sensors is set to significantly drive the market growth.
By End user - Segment Analysis
Electrical and electronics is the predominant end user industry in the global Fluxgate Sensor market. This is due to the factors such as digitization, urbanization, changing lifestyle, integration of electronic equipment, growing consumer needs for electronics products and gadgets and others. Rapid movement of world towards the technology for easiness of life is propelling the market for more innovations. Moreover, integration of electrical and electronics equipment thereby contributing towards the usage of fluxgate sensor and thus tend to boosts the market growth. In April 2020 Danisense introduced PCB-mount current transducers named DB to accurately evaluate isolated AC and DC current up to 72A. This current sensor is based on a closed-loop device, where the magnetic field is sensed by a flux gate. It also applies to stable power supplies, accuracy drives, battery testing, particle accelerators, power measurement, and power analysis.
By Geography - Segment Analysis
North America held the highest market share of the Fluxgate Sensor market in 2019 with 38%. Moreover it is anticipated to grow at a highest rate of CAGR during the forecast period 2020-2025. This growth is attributed to the factors such as growth in automotive industry and consumer electronics industry. High gross domestic product (GDP), per capita income, and purchasing power a customer in this region has boosts the demand of products and services and this thereby enhance the growth of the different industries including automotive, electrical and electronics, healthcare, aerospace and others. Fluxgate sensors are applicable in all these end user verticals owing to which the consumers are provided with more and more developed products and services which propels the market growth of fluxgate sensor. In May 2019, Instrument engineer Todd Bonalsky developed miniaturized fluxgate magnetometer at NASA's Goddard Space Flight Centre. This showed that the scale of the strong instruments could be minimized, and that scientifically valuable magnetic field measurements could also be obtained from small devices.
Drivers – Fluxgate Sensor Market
- Increasing rate of automation
During the last few years, the emergence of technology has made it possible to couple mechanical systems with computerized applications. This resulted in the introduction of automated machinery capable of producing substantially higher output rates, effortless control and minimal wastage over conventional machines. For instance, high usage of fluxgate sensors for automatic parking system as well as tracking systems in automobiles tends to drive the market growth. Additionally, increasing labor prices, tremendous demand of producers to reach targets, improved productivity and lowered manufacturing costs have resulted in expanded automation adoption in factories. Thus with growing automation there will be growth of sensor market which in turn drive the market for fluxgate sensor.
Challenges – Fluxgate Sensor Market
- Distortion due to hard and soft iron elements
Fluxgate sensor are reactive to their environment owing to which distortion occurs in the sensor. Magnetic biasing of two types, that is, hard iron bias and soft iron bias occur. Hard iron bias is instigated by magnetized material inside the device. Soft iron bias is instigated by interaction between variation in magnetic field of earth and materials inside a magnetometer. Strong iron bias, for instance, is power lines that create a magnetic field that impact drones and aircraft in which deployment of fluxgate sensors is done. The sensor performance is permanently biased if hard iron distortion occurs. Moreover, deflections in the current magnetic field occur in the case of soft iron distortion. Consequently the distorting of the fluxgate sensor restraints the growth of market.
Partnerships and acquisitions along with product launches are the key strategies adopted by the players in the Fluxgate Sensor Market. As of 2020, the market for Fluxgate Sensor is consolidated with the top players including Elmos Semiconductor AG, Baumer Ltd., Robert Bosch GmbH, NVE Corporation A, Stefan Mayer Instruments, Xi'an Huashun Measuring Equipment Co. Ltd., Macintyre Electronic Design Associates Inc., Methode Electronics Inc., Fluxgate World Subsystems, MSR-Electronic GmbH, Cedrat Technologies SA and among others.
- In March 2020, the world’s most compact Magnetometer THM1176 was launched by Metrolabs. The features possessed by it includes small active volume, 3-axis capability, USB-powered and simple programmability. Moreover, 5 Gauss line during MRI installation and in systematically mapping an entire volume can be done through it.
- In February 2020, three-axis fluxgate magnetometer Cryomag was released by Bartington and the product was tested in partnership with CERN. Cryomag possess features including noise performance less than 20pTrms at 1Hz, 3 concurrent axes and a measuring range of 100µT. Moreover, connection with the new digitiser DG-1 is easy.
1. Fluxgate Sensor Market – Overview
1.1 Definitions and Scope
2. Fluxgate Sensor Market - Executive summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by type of Application
2.3 Key Trends segmented by Geography
3. Fluxgate Sensor Market - Comparative analysis
3.1 Product Benchmarking - Top 5 companies
3.2 Top 5 Financials Analysis
3.3 Market Value split by Top 5 companies
3.4 Patent Analysis - Top 5 companies
3.5 Pricing Analysis
4. Fluxgate Sensor Market Forces
4.4 Porters five force model
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining powers of customers
4.4.3 Threat of new entrants
4.4.4 Rivalry among existing players
4.4.5 Threat of substitutes
5. Fluxgate Sensor Market -Strategic analysis
5.1 Value chain analysis
5.2 Opportunities analysis
5.3 Product life cycle
5.4 Suppliers and distributors Market Share
6. Fluxgate Sensor Market- By Axis Types
6.1 Single-axis Sensor
6.2 Three-axis Sensor
7. Fluxgate Sensor Market- By Sensor Types
7.1 Taped core sensor
7.2 Toroid core sensor
7.3 PCB based sensor
8. Fluxgate Sensor Market- By Application
8.1 Navigation Systems
8.2 Industrial Monitoring and Control Systems
8.3 Overcurrent Detection
8.4 Detection of ferrous objects
8.5 Altitude and position sensing
9. Fluxgate Sensor Market- By End User
9.6 Electrical and Electronics
9.9 Media & Communications
9.10 Energy and Power
10. Fluxgate Sensor Market - By Geography
10.1 North America Product type and Application Market Size
10.2 South America Product type and Application Market Size
10.2.3 Rest of South America
10.3 Europe Segment Product type and Application Market Size
10.3.7 Rest of Europe
10.4 APAC Segment - Product type and Application Market Size
10.4.4 South Korea
10.4.5 Rest of APAC
10.5 Middle East & Africa Market Research
11. Fluxgate Sensor Market - Entropy
11.1 New product launches
11.2 M&A s, collaborations, JVs and partnerships
12. Fluxgate Sensor Company Analysis
12.1 Market Share, Company Revenue, Products, M&A, Developments
12.2 Stefan Mayer Instruments
12.3 Macintyre Electronic Design Associates
12.4 Methode Electronics
12.5 MSR-Electronic GmbH
12.6 Cedrat Technologies SA
12.8 Texas Instruments
12.9 Metrolab Technology
12.10 Xi'an Huashun Measuring Equipment and among others