North America Magnetic Sensor Market Size, Share & Industry Trends Analysis Report By End-use, By Technology, By Application (Position Sensing, Speed Sensing, Detection/NDT, Navigation & Electronic Compass), By Country and Growth Forecast, 2023 - 2030
The North America Magnetic Sensor Market would witness market growth of 5.1% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 359.4 million Units, showcasing a growth of 5.3% (2019-2022).
Magnetic sensors are utilized in energy applications, contributing to the efficient functioning of power plants' generators, turbines, and various components. They aid in monitoring and controlling processes critical to power generation. The aerospace and defense sectors leverage magnetic sensors for navigation, orientation, and positioning in aircraft, satellites, and military equipment. The precision and reliability of magnetic sensors are paramount in ensuring the accuracy of navigation systems.
Dynamic trends reflecting industries' evolving needs and technological advancements characterize the market. Moreover, magnetoresistive sensors have gained prominence in the market due to their high sensitivity and reliability. Based on the magnetoresistance effect, these sensors offer improved performance in various applications, including automotive, industrial, and consumer electronics. The shift towards magnetoresistive technology is a notable trend driving the market innovation.
As per the data given by the International Trade Administration, one of the world's biggest automobile marketplaces is in the United States. 14.5 million light vehicles were sold in the United States in 2020. The world's second-largest sector for car sales and production is the United States. According to Autos Drive America, 5 million vehicles were produced in the US by foreign automakers in 2020. The automotive industry is at the forefront of innovation. Nearly 70 R&D centers established in the United States are now used by international automakers. Therefore, the increase in motor vehicle demand in North America will boost the demand for magnetic sensors in the region.
The US market dominated the North America Magnetic Sensor Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,161.1 million by 2030. The Canada market is showcasing a CAGR of 7.5% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 6.6% during (2023 - 2030).
Based on End-use, the market is segmented into Automotive, Consumer Electronics, Industrial, and Others. Based on Technology, the market is segmented into Hall Effect, Anisotropic Magnetoresistance, Giant Magnetoresistance, Tunnel Magnetoresistance, and Others. Based on Application, the market is segmented into Position Sensing, Speed Sensing, Detection/NDT, Navigation & Electronic Compass, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Microsemi Corporation (Microchip Technology), NVE Corporation, NXP Semiconductors N.V., Robert Bosch GmbH, TDK Corporation, MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.), Infineon Technologies AG, Magnetic Sensors Corporation and MultiDimension Technology Co., Ltd.
Scope of the Study
Market Segments covered in the Report:
By End-use (Volume, Million Units, USD Billion/Million, 2019-2030)
- Automotive
- Consumer Electronics
- Industrial
- Others
- Hall Effect
- Anisotropic Magnetoresistance
- Giant Magnetoresistance
- Tunnel Magnetoresistance
- Others
- Position Sensing
- Speed Sensing
- Detection/NDT
- Navigation & Electronic Compass
- Others
- US
- Canada
- Mexico
- Rest of North America
- Honeywell International, Inc.
- Microsemi Corporation (Microchip Technology)
- NVE Corporation
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- TDK Corporation
- MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.)
- Infineon Technologies AG
- Magnetic Sensors Corporation
- MultiDimension Technology Co., Ltd.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Magnetic Sensor Market, by End-use
- 1.4.2 North America Magnetic Sensor Market, by Technology
- 1.4.3 North America Magnetic Sensor Market, by Application
- 1.4.4 North America Magnetic Sensor Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market At a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2022
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Dec – 2023, Nov) Leading Players
- 4.5 Porter’s Five Force Analysis
- Chapter 5. North America Magnetic Sensor Market by End-use
- 5.1 North America Automotive Market by Country
- 5.2 North America Consumer Electronics Market by Country
- 5.3 North America Industrial Market by Country
- 5.4 North America Others Market by Country
- Chapter 6. North America Magnetic Sensor Market by Technology
- 6.1 North America Hall Effect Market by Country
- 6.2 North America Anisotropic Magnetoresistance Market by Country
- 6.3 North America Giant Magnetoresistance Market by Country
- 6.4 North America Tunnel Magnetoresistance Market by Country
- 6.5 North America Others Market by Country
- Chapter 7. North America Magnetic Sensor Market by Application
- 7.1 North America Position Sensing Market by Country
- 7.2 North America Speed Sensing Market by Country
- 7.3 North America Detection/NDT Market by Country
- 7.4 North America Navigation & Electronic Compass Market by Country
- 7.5 North America Others Market by Country
- Chapter 8. North America Magnetic Sensor Market by Country
- 8.1 US Magnetic Sensor Market
- 8.1.1 US Magnetic Sensor Market by End-use
- 8.1.2 US Magnetic Sensor Market by Technology
- 8.1.3 US Magnetic Sensor Market by Application
- 8.2 Canada Magnetic Sensor Market
- 8.2.1 Canada Magnetic Sensor Market by End-use
- 8.2.2 Canada Magnetic Sensor Market by Technology
- 8.2.3 Canada Magnetic Sensor Market by Application
- 8.3 Mexico Magnetic Sensor Market
- 8.3.1 Mexico Magnetic Sensor Market by End-use
- 8.3.2 Mexico Magnetic Sensor Market by Technology
- 8.3.3 Mexico Magnetic Sensor Market by Application
- 8.4 Rest of North America Magnetic Sensor Market
- 8.4.1 Rest of North America Magnetic Sensor Market by End-use
- 8.4.2 Rest of North America Magnetic Sensor Market by Technology
- 8.4.3 Rest of North America Magnetic Sensor Market by Application
- Chapter 9. Company Profiles
- 9.1 Honeywell International, Inc.
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental and Regional Analysis
- 9.1.4 Research & Development Expenses
- 9.1.5 Recent strategies and developments:
- 9.1.5.1 Product Launches and Product Expansions:
- 9.1.6 SWOT Analysis
- 9.2 Microsemi Corporation (Microchip Technology)
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental and Regional Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 SWOT Analysis
- 9.3 NVE Corporation
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Research & Development Expenses
- 9.3.4 Recent strategies and developments:
- 9.3.4.1 Product Launches and Product Expansions:
- 9.3.5 SWOT Analysis
- 9.4 NXP Semiconductors N.V.
- 9.4.1 Company Overview
- 9.4.2 Financial Analysis
- 9.4.3 Regional Analysis
- 9.4.4 Research & Development Expense
- 9.4.5 Recent strategies and developments:
- 9.4.5.1 Product Launches and Product Expansions:
- 9.4.6 SWOT Analysis
- 9.5 Robert Bosch GmbH
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.5.5.2 Acquisition and Mergers:
- 9.5.6 SWOT Analysis
- 9.6 TDK Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Regional & Segmental Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Product Launches and Product Expansions:
- 9.6.6 SWOT Analysis
- 9.7 MEMSIC Semiconductor Co., Ltd. (IDG Capital Investment Consultant Beijing Co Ltd.)
- 9.7.1 Company Overview
- 9.7.2 SWOT Analysis
- 9.8 Infineon Technologies AG
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expense
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.5.2 Product Launches and Product Expansions:
- 9.8.5.3 Acquisition and Mergers:
- 9.8.6 SWOT Analysis
- 9.9 Magnetic Sensors Corporation
- 9.9.1 Company Overview
- 9.10. MultiDimension Technology Co., Ltd.
- 9.10.1 Company Overview
- 9.10.2 Recent strategies and developments:
- 9.10.2.1 Product Launches and Product Expansions:
- 9.10.3 SWOT Analysis
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