Fluxgate Sensor Market - Forecast(2023 - 2028)

Report Code: AIR 0343 Report Format: PDF + Excel

Fluxgate Sensor Market Overview

Fluxgate Sensor Market size is projected to reach US$ 633.50 million by 2026 and is estimated to grow at a CAGR 7.8% during the forecast period 2021-2026. The growth of Fluxgate Sensor Market is majorly attributed to the rising demand for robotics in industrial automation to provide high accuracy measurements with low power requirements in order to simplify industrial monitoring and control systems preventing from premature equipment failure. Increasing penetration of digitalization in sensing technology is anticipated to drive Fluxgate Sensor Market. The burgeoning demand of fluxgate sensors for the usage for submarine detection as well as navigation systems are the key factors driving the global fluxgate sensors market over the forecast period 2021-2026. On the other hand, fluxgate sensors are widely used in the detection of ferrous objects, position measurement through generated fields and non-destructive testing. Furthermore, rapidly growing digitalization fuels the growth of the global fluxgate sensors market, owing to the significant usage of fluxgate sensors in rapidly growing smart cities and manufacturing industry across the globe.

Report Coverage

The report “Fluxgate Sensor Market – Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Fluxgate Sensor Market.

By Axis Type: 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 Industry Vertical: Automotive, Healthcare, Electronics & Semiconductor, Aerospace & Defense, Oil & Gas, Sub-marine, Media & Communications, Power, Utility, Food & Beverage Processing, Others.
By Geography: North America, South America, Europe, APAC and RoW. 

Key Takeaways

  • APAC is estimated to be the fastest-growing market during 2021-2026 with a CAGR 9.36% owing to high investments in industrialization and digitalization.
  • Electronics is analyzed to be the largest market acquiring a market share of 19% by 2026 due to rapid evolution in electronic equipment.
  • Increasing demand for fluxgate sensors in industrial automation and increasing penetration of advanced power distribution units are driving the market.
  • Material distortion in fluxgate sensors is one of the challenges impeding the market growth.

    Global Fluxgate Sensor Market Value Share By Region, By 2020 ($M)

    Global Fluxgate Sensor Market Value Share

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Fluxgate Sensor Market Segment Analysis – By Axis type

By axis type, Fluxgate Sensor is segmented into single axis sensor and three axis sensor. Three axis sensor is estimated to acquire a market share of 67% by 2026 owing to its beneficiary capabilities including compact structure, precise measurement, low power consumption over single axis sensor. For instance, Bartington Instrument produces Mag-03, which is a versatile, high-performance, fluxgate sensors providing precision measurements of static and alternating magnetic fields in three axes and these sensors can be combined with Power Supplies and Data Acquisition Units to create a complete measurement system.

Fluxgate Sensor Market Segment Analysis – By Industry Vertical

By industry vertical, Fluxgate Sensor Market is segmented into Automotive, Healthcare, Electronics & Semiconductor, Aerospace & Defense, Oil & Gas, Sub-marine, Media & Communications, Power, Utility, Food & Beverage Processing and Others. Electronics & semiconductor sector is estimated to account for the largest Fluxgate Sensor Market share of 19% by 2026 owing to rising advancement in electronic equipment for smart city applications and huge demand for consumer electronics. Automotive is analysed to witness significant growth between 2021 and 2026 due to the rising demand for powertrain, body electronics and alternative fuel vehicle. The utility sector is estimated to witness the highest growth with a CAGR 9.67% during 2021-2026 due to increasing demand for real-time thermal monitoring of mission critical applications to optimize performance and efficiency. In December 2020, Hitachi ABB Power Grids developed a fully integrated 220 KV substation with advanced power system management and equipment monitoring system to fulfill the unprecedented upsurge in electricity in Dublin. Such developments are estimated to significantly trigger the market growth during the forecast period 2021-2026. 

Fluxgate Sensor Market Segment Analysis – By Geography

By Geography, Fluxgate Sensor market is segmented under North America, Europe, APAC, South America and RoW. APAC is estimated to be the fastest growing market with a CAGR 9.36% during 2021-2026 owing to heavy industrialization and transition towards digitalization. According to reports by Northeast Group, in October 2020, South-east Asia declared to invest USD 25.9 billion in smart grid infrastructure over the next decade to accelerate smart metering, grid automation for enhancing the developments in utility sector and such government initiatives are set to drive the market. North America is estimated to hold a significant amount of market share with a CAGR 7.08% during the forecast period 2021-2026 owing to high government investments in smart grid infrastructure and continuous up-gradation of existing infrastructure towards latest technology. In February 2021, New York Power Authority (NYPA) announced the availability of remote monitoring of utility assets to prevent equipment failure ensuring more resilient, reliable and flexible energy system and thus accelerating the market growth.

Fluxgate Sensor Market Drivers

Increasing demand for Fluxgate sensors in industrial automation is driving the market

The increasing convergence of industrial sectors with digitalization to deliver smart production and automation is set to drive the market. Increasing penetration of robotics for factory automation has contributed to the growth of the market. Fluxgate sensors, particularly linear and angular position sensing play a major role to run the factory smoothly while optimizing the usage of connected machines without human intervention. The magnetometers can be used to monitor the motor movements of the robots in terms of precision and accuracy. Furthermore, with the rising demand for faster and more efficient production lines, the role of the magnetic sensor is continuously evolving to include the use of safety switches and proximity detection. As per 2020 Industrial report of International Federation of Robotics, 2.7 million industrial robots are operating in factories including automotive, electronics and others around the world. Such growth in robotics across the globe is bolstering the demand for fluxgate sensors market.

Increasing adoption of fluxgate sensors in power distribution units is elevating the growth of the market

Increasing penetration of automation in utility sector to deliver an intelligent power distribution infrastructure has contributed to the growth of the market. Cloud computing and large data analytics are growing exponentially to meet the demand of ever increasing digitalization and due to this, there has been an increased production of power distribution units which are the main part of data centers and large servers. Datacenter infrastructure needs power distribution units (PDU) to supply AC or DC electrical power to the servers. Fluxgate sensors assist PDUs in providing power filtering to the server and intelligent load balancing while they can also be monitored remotely. According to International Energy Agency (IEA) reports, global internet traffic surged by almost 40% between February and mid-April 2020, driven by rising adoption of video streaming, video conferencing, online gaming, social networking services across globe and data centers accounted for almost 1% of global electricity use. Such growth in data transmission networks is augmenting the fluxgate sensor market growth.

Fluxgate Sensor Market Challenges

Distortion due to hard and soft iron elements is impeding the growth of the market

Fluxgate sensor are reactive to their environment owing to which distortion occurs in the sensor. Magnetic biasing is of two types, that is, hard iron bias and soft iron bias. Hard iron bias is instigated by magnetized material inside the device and 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. Thus, the distortion of the fluxgate sensor restraints the growth of market. 

Fluxgate Sensor Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Fluxgate Sensor market. In 2020, the market of Fluxgate Sensor industry outlook has been fragmented by several companies. Fluxgate Sensor top 10 companies include:

  1. Elmos Semiconductor AG
  2. Baumer Ltd.
  3. Robert Bosch GmbH
  4. NVE Corporation A
  5. Stefan Mayer Instruments
  6. Metrolab Technology SA
  7. Bartington Instruments
  8. Fluxgate World Subsystems
  9. Applied Physics Systems
  10. Cedrat Technologies SA 

Acquisitions/Product Launches

  • In March 2021, LEM launched a new leakage current sensor based on its open-loop Fluxgate Technology for optimizing electric vehicle charging stations.
  • In March 2021, Metrolab Technology SA signed an agreement with Ayscom dataTec, SL. to expand its magnetometer market in Spain.

Relevant Report Titles:

Magnetic Sensors Market-Forecast (2021-2026)
Report Code: ESR 0172

MEMS Magnetic Field Sensors Market – Forecast (2021 - 2026)
Report Code: ESR 0221

For more Automation and Instrumentation Market reports, please click here

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 Product Type
    2.3 Key trends segmented by Geography
3. Fluxgate Sensor Market – Market Landscape
    3.1 Comparative Analysis
        3.1.1 Product/Company Benchmarking-Top 5 Companies
        3.1.2 Top 5 Financial Analysis
        3.1.3 Market Value Split by Top 5 Companies
        3.1.4 Patent Analysis
        3.1.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. Fluxgate Sensor Market – Industry Market Entry Scenario Premium (Premium)
    4.1 Regulatory Scenario
5. Fluxgate Sensor Market – Startup Company Scenario (Premium)
    5.1 Venture Capital and Funding Scenario
    5.2 Startup Company Analysis
6. Fluxgate Sensor Market Analysis (Enterprise License)
    6.1 Ease of Doing Business Index
    6.2 Case Studies
    6.3 Customer Analysis
    6.4 Market Share By Product Type
    6.5 Market Share By Sales Channel
    6.6 Market Share By Vehicle Type
    6.7 Market Share By Country
    6.8 Competition Matrix
7. Fluxgate Sensor Market - Market Forces
    7.1 Market Drivers
    7.2 Market Constraints
    7.3 Porters five force model
        7.3.1 Bargaining power of suppliers
        7.3.2 Bargaining powers of customers
        7.3.3 Threat of new entrants
        7.3.4 Rivalry among existing players
        7.3.5 Threat of substitutes
8. Fluxgate Sensor Market – By Strategic Analysis (Market Size -$Million/Billion)
    8.1 Value Chain Analysis
    8.2 Opportunities Analysis
    8.3 Product Life Cycle/Market Life Cycle Analysis
    8.4 Suppliers and Distributors
9. Fluxgate Sensor Market – By Axis Type (Market Size -$Million/Billion)
    9.1 Single axis sensor
    9.2 Three axis sensor
10. Fluxgate Sensor Market – By Sensor Type (Market Size -$Million/Billion)
    10.1 Taped core sensor
    10.2 Toroid core sensor
    10.3 PCB based sensor
11. Fluxgate Sensor Market – By Application (Market Size -$Million/Billion)
    11.1 Navigation Systems
    11.2 Industrial Monitoring and Control Systems
    11.3 Overcurrent Detection
    11.4 Detection of ferrous objects
    11.5 Altitude and position sensing
    11.6 Others
12. Fluxgate Sensor Market – By Industry Vertical
    12.1 Automotive
    12.2 Healthcare
    12.3 Electronics & Semiconductor
    12.4 Aerospace & Defense
    12.5 Oil & Gas
    12.6 Sub-marine
    12.7 Media & Communications
    12.8 Power
    12.9 Utility
    12.10 Food & Beverage Processing
    12.11 Others
13. Fluxgate Sensor Market - By Geography (Market Size -$Million/Billion)
    13.1 North America
        13.1.1 U.S
        13.1.2 Canada
        13.1.3 Mexico
    13.2 South America
        13.2.1 Brazil
        13.2.2 Argentina
        13.2.3 Chile
        13.2.4 Colombia
        13.2.5 Others
    13.3 Europe
        13.3.1 Germany
        13.3.2 France
        13.3.3 UK
        13.3.4 Italy
        13.3.5 Spain
        13.3.6 Russia
        13.3.7 Netherlands
        13.3.8 Others
    13.4 APAC
        13.4.1 China
        13.4.2 Japan
        13.4.3 South Korea
        13.4.4 India
        13.4.5 Australia
        13.4.6 Indonesia
        13.4.7  Malaysia
        13.4.8 Others
    13.5 RoW
        13.5.1 Middle East
        13.5.2 Africa
14. Fluxgate Sensor Market - Market Entropy
    14.1 New product launches
    14.2 M&A's, collaborations, JVs and partnerships
15. Fluxgate Sensor Market – Industry Competition Landscape (Premium)
    15.1 Market Share Global
    15.2 Market Share – Top Regions
16. Fluxgate Sensor Market – Key Company List by Country Premium (Premium)
17. Fluxgate Sensor Market - Company Analysis
    17.1 Elmos Semiconductor AG
    17.2 Baumer Ltd.
    17.3 Robert Bosch GmbH
    17.4 NVE Corporation A
    17.5 Stefan Mayer Instruments
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10
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