Ultrasonic sensor market in Europe is expected to grow from US$ 1.44 Bn in 2018 to US$ 2.78 Bn by the year 2027. This represents a CAGR of 7.6% from the year 2019 to 2027.
The rapid expansion of the global manufacturing sector and rising adoption of automation in diverse range of industries are among the prime factors driving the ultrasonic sensor market growth. However, the availability of substitute sensor types for measuring distance hinders the ultrasonic sensor market growth. The automakers are observing substantial demand for smart devices in their vehicles. This has led them to continuously focus on innovating, designing, and developing autonomous cars that have already attracted a fair percentage of customers in major automotive manufacturing countries. Owing to the inclination toward smart and autonomous cars, sensors are expected to become an integral part of the innovations in the automotive industry in the coming years. This demand for advanced sensor technologies is mainly attributed to the need for optimizing vehicle safety and performance. The growth trajectory of fully autonomous cars is largely anticipated to depend upon several parameters, such as technological improvements, consumer preference for fully automated cars, fair pricing, and the ability of the suppliers and OEMs to address the critical concerns related to the safety of the vehicles. Attributing to these parameters, automotive and semiconductor industry players are continually focusing on improving technologies, negotiating prices of raw materials, and integrating the cars with robust technologies. This factor is expected to trigger the growth of the ultrasonic sensor providers in the coming years.
The ultrasonic sensors have a broad range of applications. The Europe ultrasonic sensor market based on applications is segmented into liquid level detection, production line, distance measurement, and others. The ample benefits provided by the ultrasonic sensor to manufacturing, process, and other industries make it's suitable for a spectrum of applications. The production line segment led the ultrasonic sensor market and is anticipated to continue its dominance during the forecast period. The ultrasonic sensor in manufacturing units assists in streamlining the manufacturing processes. These sensors are applied to the regular processes to have automated process control in the factories. By integrating sensors into factory floors, it would help the manufacturing companies to maximize efficiency via accurate measurement and control.
Currently, the Germany is dominating the ultrasonic sensor market in terms of installation, which in turn boosts the demand for the ultrasonic sensor market in the region. Germany is one of the significant manufacturing locations across the world. The major industries in Germany include chemicals, metals, pharmaceuticals, textiles, and plastic goods, among others. Germany is one of the leading producers of premium cars in the world, and several major car manufacturing companies are located in the country, including Volkswagen, BMW AG, Audi, and Skoda, among others. As per the data available on the International Organization of Motor Vehicle Manufacturers, Germany produced ~5.12 Mn cars in the year 2018. The demand for ultrasonic sensors in vehicles and automotive is high. Therefore, the presence of a strong automotive sector in the country is expected to drive the growth of the ultrasonic sensor market. The figure given below highlights the revenue share of Mexico in the Europe ultrasonic sensor market in the forecast period:
Rest of Europe Ultrasonic Sensor Market Revenue and Forecasts to 2027 (US$ Mn)
EUROPE Ultrasonic Sensor MARKET - SEGMENTATION
Europe Ultrasonic Sensor Market – By Technology
- Stereo Vision
- Time-of-Flight
- Structured Light
Europe Ultrasonic Sensor Market – By End-user Vertical
- Healthcare
- Aerospace
- Industrial
- Automotive
- Consumer Electronics
- Others
Europe Ultrasonic Sensor Market – By Country
- Germany
- France
- Italy
- UK
- Russia
- Rest of Europe
Europe Ultrasonic Sensor Market -Companies Mentioned
- Balluff Inc.
- Baumer Group
- Honeywell International, Inc.,
- Keyence Corporation
- Migatron Corporation
- Murata Manufacturing Co. Ltd.
- Omron Corporation
- Pepperl+Fuchs AG
- Rockwell Automation, Inc.
- Siemens AG
Europe Ultrasonic Sensor Market Strategic Insights
Europe Ultrasonic Sensor Market Report Highlights
| Report Attribute | Details |
| Market size in 2018 | US$ 1.44 Billion |
| Market Size by 2027 | US$ 2.78 Billion |
| CAGR (2019 - 2027) | 7.6% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Ultrasonic Sensor Market Country and Regional Insights
