The future of the global fluxgate sensor market looks promising with opportunities in the automotive, healthcare & life science, defense, electrical & electronics, media & communications, energy & utility industries. The global fluxgate sensor market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to grow with a CAGR of 8% to 10% from 2020 to 2025. The major growth drivers for this market are growing electronics and electrical industry along with rising demand for consumer electronic goods.
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Growth in various segments of the fluxgate sensors market are given below:
The study includes trends and forecast for the global fluxgate sensors market application, end use industry, and region as follows:
By Application [$M shipment analysis for 2014 – 2025]:
- Navigation Systems
- Industrial Monitoring and Control Systems
- Overcurrent Detection
- Others
By End Use Industry [$M shipment analysis for 2014 – 2025]:
- Automotive
- Healthcare & Life Sciences
- Defense
- Electrical & Electronics
- Media & Communications
- Energy & Utilities
- Others
By Region [$M shipment analysis for 2014 – 2025]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the World
Some of the fluxgate sensors manufacturers profiled in this report include, Stefan Mayer Instruments, Xi'an Huashun Measuring Equipment Co., Ltd., Macintyre Electronic Design Associates Inc., Methode Electronics Inc., Fluxgate World Subsystems, and MSR-Electronic GmbH.
In this market, navigation systems, industrial monitoring and control systems, and overcurrent detection are some of the applications of fluxgate sensor.
Within this market, automotive, healthcare & life sciences, defense, electrical & electronics, media & communications, and energy & utilities are the major end use industries.
North America will remain the largest region in the global fluxgate sensor market over the forecast period due to rapidly growing innovation and demand for sensor based products in automation industry across the region.