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Automakers To Generate Huge Demand for Position Sensors In Coming Years

The International Organization of Motor Vehicle Manufacturers (OICA) states that 21,787,126 commercial vehicles and 55,834,456 cars were produced across the world in 2020. Furthermore, the International Energy Agency (IEA) reveals that the global stock of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles stood at 6,850,327 units and 3,346,713 units, respectively, in 2020. 

The increasing adoption of conventional automobiles and electric vehicles (EVs) is creating a huge requirement for position sensors, due to the surging need for these instruments in parking assistance systems, clutch plates, and hybrid engines. Moreover, the flourishing packaging industry, particularly in India and China, will also assist the position sensor market to demonstrate a CAGR of 7.7% during the forecast period (2019–2024). 


According to P&S Intelligence, the market was valued at $9.1 billion in 2018, and it is expected to reach $14.2 billion revenue by 2024. The expansion of the packaging sector can be attributed to the burgeoning demand for packaging solutions from the food and pharmaceutical industries. Position sensors are installed in the packaging machines for better outcomes. Nowadays, position sensor manufacturers are increasingly focusing on product launches, partnerships, mergers and acquisitions, and client pool expansion to reach out to more customers. 

For example, in 2018, SICK AG introduced the AHS/AHM36 IO-link absolute encoder with a multiturn resolution of 12 bits and a single turn resolution of 24 bits. It is a fully magnetic, cost-effective, and compact sensor that can be used in harsh environments. Similarly, ams AG launched a magnetic rotary position sensor with an I2C interface named AS5200L, in 2018. This instrument aids in the development of safety-critical automotive solutions.

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