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Fork Sensors - Global Market Trajectory & Analytics

  • ID: 5141341
  • Report
  • February 2022
  • Region: Global
  • 296 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Balluff GmbH
  • Baumer Holding AG
  • Datalogic S.p.A.
  • Leuze electronic bv
  • Omron Corporation
  • Pepperl+Fuchs SE

Global Fork Sensors Market to Reach $381.2 Million by 2026


The L and U shaped fork sensors, also known as slot sensors utilize through-beam photoelectric technology for identifying objects that pass via the slot. A fork sensor could be used for counting items within an assembly line or for detecting irregularities within the assembly line. Fork sensors, along with various other smart sensors are witnessing growth, in line with the trending Internet of Things (IoT). Growth in the market is primarily driven by the increasing popularity and adoption of Industry 4.0 and IoT with fork sensor technology, primarily the increased adoption of the technology within smart cities. Also, solutions that are fork sensor-based are being widely used in manufacturing applications; and key players are focusing on fork sensor related R&D investments for enhancing the existing sensors-based offerings. Also, smart sensors are being increasingly used, thereby fueling growth of the market.

Amid the COVID-19 crisis, the global market for Fork Sensors estimated at US$269.6 Million in the year 2020, is projected to reach a revised size of US$381.2 Million by 2026, growing at a CAGR of 6.1% over the analysis period. Optical, one of the segments analyzed in the report, is projected to grow at a 6.9% CAGR to reach US$190.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Ultrasonic segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 35% share of the global Fork Sensors market. The Optical segment is dominant due to the laser-based optical fork sensors` high precision; and cost-efficient LED-based optical fork sensors that include infrared and red light-based fork sensors. Optical fork sensors are available in one of the three light sources that include infrared, laser, and red. The object is detected when passes through the fork`s prongs. Certain fork sensors combine the benefits offered by ultrasonic and light-based sensors; and are primarily used in the packaging industry for labeling machine applications. Such sensors are capable of reliably, accurately and quickly detecting an array of labels, irrespective of surface or material attributes. This is likely to prevent downtime and improve machine throughput.



The U.S. Market is Estimated at $65.7 Million in 2021, While China is Forecast to Reach $47.1 Million by 2026


The Fork Sensors market in the U.S. is estimated at US$65.7 Million in the year 2021. The country currently accounts for a 23.76% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$47.1 Million in the year 2026 trailing a CAGR of 7.6% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.5% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.7% CAGR while Rest of European market (as defined in the study) will reach US$51.2 Million by the end of the analysis period. Europe is likely to witness high adoption of fork sensors due to constant technological innovations and expansions by well-established providers and manufacturers of fork sensors within the region.

Vibrating Tuning Segment to Reach $73.6 Million by 2026


In the global Vibrating Tuning segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$43.4 Million in the year 2020 will reach a projected size of US$60 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$6.3 Million by the year 2026, while Latin America will expand at a 5% CAGR through the analysis period.

Select Competitors (Total 31 Featured) -

  • Balluff GmbH
  • Baumer Holding AG
  • Datalogic S.p.A.
  • Leuze electronic bv
  • M.D.Micro Detectors S.p.A.
  • Omron Corporation
  • Pepperl+Fuchs SE
  • Rockwell Automation, Inc.
  • SensoPart Industriesensorik GmbH
  • Sick AG
  • Telemecanique Sensors
  • Telco Sensors Inc.
  • WayCon Positionsmesstechnik GmbH
Frequently Asked Questions about the Global Market for Fork Sensors

What is the estimated value of the Global Market for Fork Sensors?

The Global Market for Fork Sensors was estimated to be valued at $269.6 Million in 2020.

What is the growth rate of the Global Market for Fork Sensors?

The growth rate of the Global Market for Fork Sensors is 5.9%, with an estimated value of $381.2 Million by 2026.

What is the forecasted size of the Global Market for Fork Sensors?

The Global Market for Fork Sensors is estimated to be worth $381.2 Million by 2026.

Who are the key companies in the Global Market for Fork Sensors?

Key companies in the Global Market for Fork Sensors include Balluff GmbH, Baumer Holding AG, Datalogic S.p.A., Leuze electronic bv, M.D.Micro Detectors S.p.A., Omron Corporation, Pepperl+Fuchs SE, Rockwell Automation, Inc. and Sick AG.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Balluff GmbH
  • Baumer Holding AG
  • Datalogic S.p.A.
  • Leuze electronic bv
  • Omron Corporation
  • Pepperl+Fuchs SE

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • Rising Levels of Unemployment Threatens to Shrink the Global Middle Class Population: Unemployment in the U.S. (In Million)
  • Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
  • Industrial Activity Remains Subdued, Inducing Weakness into Fork Sensors Market
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Fork Sensors: A Brief Synopsis
  • Ideal for Detecting Small Parts
  • Fork Sensor with Combined Benefits of Ultrasonic and Light-based Sensors
  • Tuning Fork Sensors: Definition and Functionality
  • An Innovative Tuning Fork Sensing Technology-based Sensor
  • Benefits of Tuning Fork Sensors
  • Applications for Tuning Fork Sensors
  • Global Fork Sensors Market: Prospects & Outlook
  • Analysis by Type: Optical Fork Sensors to Witness High Growth
  • World Fork Sensors Market by Type (2020 & 2027): Percentage Breakdown of Sales for Optical, Ultrasonic, and Vibrating Tuning
  • Analysis by End-Use
  • World Fork Sensors Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Manufacturing, Packaging & Labeling, and Other End-Uses
  • Regional Analysis
  • World Fork Sensors Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
  • World Fork Sensors Market - Geographic Regions Ranked by CAGR (Sales) for 2020-2027: China, Asia-Pacific, Latin America, Africa, Middle East, USA, Japan, Europe, and Canada
  • Competitive Scenario
  • Recent Market Activity
  • Fork Sensors – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Growing Demand in Packaging & Labeling Applications
  • Fork Sensors Facilitate Seamless Coordination in Quality Control and Track & Trace in Packaging Processes
  • Sophisticated Fork Sensors Come to the Fore for Labeling Machines
  • Printing & Packaging Made Easier in Consumer Goods Processing
  • Emphasis on Automation and Shift Towards Industry 4.0 Widen Business Opportunities
  • Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
  • Industrial Robots Usage to Spike Post COVID-19 Period: Industrial Robot Density (Units Per 10,000 Workers)
  • Demand for Robust Identification Technologies for Real-Time Tracing in Food Industry Bodes Well
  • Healthy Trajectory in Food & Beverages Sector Augurs Well
  • Global Packaged Food Sales in US$ Trillion: 2014-2024
  • Expanding IIoT Ecosystem to Provide Steady Demand Prospects
  • Global Number of IoT Connected Devices (In Billion Units) for the Years 2016, 2018, 2020, 2022 & 2025
  • Global IoT Market (In US$ Billion) by Industry for the Years 2018 and 2022
  • Relevance of Accurate Monitoring & Inspection Widens Business Case
  • Technology Advancements & Innovations Steer Momentum
  • Leuze’s GSX Fork Sensor: A Breakthrough Design

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Sensors Market Overview
  • Fork Sensors Market Dominated by Manufacturing and Packaging Industries

CANADA

JAPAN

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • A Market Laden with Opportunities

EUROPE

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • European Sensors Market: Brief Overview

FRANCE

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Sensors Market: A Brief Overview

AUSTRALIA

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Sensors Market in The Middle East: An Overview

AFRICA

  • Fork Sensors Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 31
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Balluff GmbH
  • Baumer Holding AG
  • Datalogic S.p.A.
  • Leuze electronic bv
  • M.D.Micro Detectors S.p.A.
  • Omron Corporation
  • Pepperl+Fuchs SE
  • Rockwell Automation, Inc.
  • SensoPart Industriesensorik GmbH
  • Sick AG
  • Telemecanique Sensors
  • Telco Sensors Inc.
  • WayCon Positionsmesstechnik GmbH
Note: Product cover images may vary from those shown