Food and Beverage Position Sensors Market Size Estimated to Reach $307.2 Million by 2025

Food and Beverage Position Sensors Market size is estimated to reach $307.2 Million by 2025, growing at a CAGR of 7.15% during the forecast period 2020-2025. A position sensor is a sensor that facilitates measurement of mechanical position. Position sensors are a vital component of many industrial processing set-ups and monitoring equipment. Increase in the focus of manufacturers on accurate measurements and detailed inspection, technological innovations in position sensors, increase in the demand for cost-effective and highly efficient position sensors, growing investments by the major players in the developed nations are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.

Food and Beverage Position Sensors Market Segment Analysis - By Product Type

Based on the Product Type, the Contact segment held the largest share in 2019 owing to the factors such as it detects the changes in signal level and converts it into travel range and determines motion over time through the use of contact methods. Contact position sensors are also proven to be the simplest and lowest cost solution in food and beverage applications.

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Food and Beverage Position Sensors Market Segment Analysis - By Position Sensor Type

Based on the Position Sensor Type, the Ultrasonic segment held the largest share in 2019 owing to factors such as it has greater accuracy than many other methods at measuring thickness and distance to a parallel surface and its penetrating power make it easy to detect external objects. Ultrasonic sensors are easy to use and not dangerous during operation to nearby objects.

Food and Beverage Position Sensors Market Segment Analysis - By Geography

Based on Geography, Asia-Pacific held the largest share of 37.1% in 2019. The growth in this segment is owing to the factors such as growing demand for cost-effective and highly efficient position sensors from food and beverages industry and technological innovations in optical position sensors. North America is estimated to be the fastest-growing segment owing to the factors such as growing expenditure by the major players in the development of position sensors and increase in the usage of position sensors for level measurement in large alcohol tanks.

Food and Beverage Position Sensors Market Drivers

Growing demand for cost-effective and highly efficient position sensors

The growing demand for cost effective and highly efficient position sensors owing to the rising demand from food and beverage industry is estimated to enhance the growth of Food and Beverage Position Sensors Market. Technological innovations in optical position sensors is also the factor which is said to enhance the growth of Food and Beverage Position Sensors Market.

Growing investment by the major players in position sensors in the developed nations

There is a rapid increase in the investment by the major players in the developed nations owing to the growing demand. This led to rapid increase in the growth of Food and Beverage Position Sensors Market. Growing focus on accurate measurements and detailed inspection is also estimated to enhance the growth of the Food and Beverage Position Sensors Market.

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Food and Beverage Position Sensors Market Challenges

High cost of ownership

A position sensor is manufactured using numerous components, such as position magnets, sensing rods, diagnostic light-emitting diodes (LEDs), and connectors, which are supplied by multiple vendors. The major challenge for the companies is to increase these manufacturing capabilities, as well as reduce the overall cost of production.

Food and Beverage Position Sensors Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Food and Beverage Position Sensors Market. Key companies of this market are Hauser Management AG, GEMS Sensors Inc, First Sensor AG, ABB Ltd, Siemens AG, Endress, SICK, PCB Piezotronics, IFM, TR Electronics, Turck, among others.

Acquisitions/Product Launches:

In Dec 2018, TE Connectivity launched KMXP, a magneto resistive position sensor that enables contactless point measurement, through TTI, Inc.

Key Takeaways

Geographically, Asia-Pacific Food and Beverage Position Sensors Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.

The technological innovations in position sensors owing to the growing demand from food and beverage industry is likely to aid in the market growth of Food and Beverage Position Sensors Market.

Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Food and Beverage Position Sensors Market report.

Related Reports :

A. Position sensors Market

https://www.industryarc.com/Report/2327/Position-Sensors-Market-Analysis-Report.html

B. Ultrasonic Sensor Market

https://www.industryarc.com/Report/214/Ultrasonic-sensor-market-analysis-Forecast-report.html

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