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Variable Reluctance Sensor Market Size
Variable Reluctance Sensor Market is set to increase considerably during the forecast timeframe of 2024-2032, driven by the rising demand for these sensors. With robust speed sensing technology, cost-effectiveness, and high reliability, these sensors can generate electric signals on their own. The product’s ability to function in high-temperature environments make them suitable for speed sensing in aircraft jet engines.
Governments across the world are implementing stringent vehicle safety standards due to an alarming rise in road fatalities. For instance, the U.S. Federal Motor Vehicle Safety Standards specify certain mandatory minimum safety requirements for the design, construction, performance, and durability of vehicles manufactured in the country. These safety regulations will propel the deployment of VR sensor circuits since they are used in wheel speed sensing for anti-lock braking and other automobile applications. Moreover, customer awareness regarding the benefits of using VR stepper motors in cost-effective applications, where the motor’s stop position needs to be maintained will facilitate the industry expansion over the coming years.
Variable Reluctance Sensor Market Trends
There is a rising demand for variable reluctance sensors in industrial automation, aerospace, and consumer electronics, driven by their ability to provide precise and non-contact measurement of position, speed, and rotation in harsh environments. The advancements in materials and manufacturing processes are leading to the development of compact and cost-effective variable reluctance sensor solutions, further expanding their applications and augmenting the industry growth scope.
Rising tensions between Russia and Ukraine have boosted variable reluctance (VR) sensor industry forecast as these sensors are used in several military vehicles and weapons to improve their performance and efficacy during war. Since there was a strong need for advanced military equipment, the adoption of these sensors rose.
Variable Reluctance Sensor Market Analysis
As per end-use, the aerospace end-use segment is set to grow at an appreciable pace through 2032 as many organizations are boosting their investments in advanced aircraft manufacturing techniques. For example, Airbus announced plans to increase the production of its A220 aircraft from 4 to 5 planes per month from the end of the first quarter of 2021. This plan could strengthen the demand for VR sensors as they are considered ideal for speed sensing applications in airplanes.
The market revenue from the automotive end-use segment will record a massive increase during the analysis timeframe. Variable reluctance sensors in automotives play an important role in providing signals to control transmission shift points, limited-slip or traction controls, cruise controls, and antilock-braking systems. These features can improve the overall performance and efficiency of vehicles, favoring the product incorporation.
Europe variable reluctance sensor market is projected to display a notable increase in its valuation by 2032, given a strong spike in road crashes across the region. According to data by the European Commission, there were around 20,640 casualties resulting from road crash in 2022, showcasing a 4% surge in from 2021 figures. This scenario has impelled the need for effective safety features in vehicles, in turn contributing to the installation of variable reluctance (VR) sensors. Additionally, the EU is experiencing a steady recovery in its vehicle sales post the pandemic era. This will further stimulate the deployment of variable reluctance transducer, as this type of sensor is used in ignition systems and other vehicle applications.
Variable Reluctance Sensor Market Share
Some of the key companies involved in global market include:
- Magnetic Sensors Corporation
- Diamond Electric Manufacturing Corp.
- National Semiconductor (acquired by Texas Instruments)
- Sensoronix
- ON Semiconductor
- HarcoSemco
- Maxim Integrated
- Honeywell International, Inc.
These industry players are focusing on executing inorganic expansion strategies, such as partnerships, new product launches, mergers, and acquisitions to extend their business operations across the world.
Variable Reluctance Sensor Market Industry News
- In October 2021, Texas Instruments (TI) announced the launch of 3D hall-effect position sensors, called the TMAG5170. These sensors can help engineers achieve superior precision at speeds touching 20 kSPS for more accurate and faster real-time control in motor-drive and factory automation applications.
- In January 2023, during the 16th Auto-Expo Components Show in Delhi, India, renowned automotive technology solution providers Sona Comstar or Sona BLW Precision Forgings showcased their latest innovations, including sensors and magnetless motors, at their pavilion.