Global Acoustic Wave Sensors in Industrial Manufacturing Market

Acoustic wave sensors are expected to show good growth across different application segments due to their competitive advantages over the other technologies. As of now, temperature, pressure, torque, and viscosity sensors are the only ones to have reached complete commercialization but we predict a healthy growth of the other sensors as well in future as more applications of acoustic wave sensors get realized in the years to come. Acoustic wave temperature and pressure sensors are increasingly used in automotive and industrial applications with some applications of torque sensors as well.

Industrial applications of acoustic wave sensor mainly include utility (Power generation, transmission and distribution), petrochemicals+ oil and gas, metal, plastics, food and beverage and chemical industry. They are increasingly used in extreme temperature applications (below freezing point to 5000°C). Applications include physical parameter measurement for kilns, gas turbine exhaust, diesel engines, and the other industrial processes where the working environment is harsh. The global acoustic sensors’ market for utility segment is larger than other industrial segments in terms of unit shipments as well as in terms of market value. Current commercial applications of SAW sensors are to measure the temperature of bushings and other critical components on transformers and monitoring the temperature of critical components (especially the conductors) within the Generator Circuit Breaker (GCB).

This market was valued at $110 million in 2012 and is expected to reach $300 million in 2018, at an estimated CAGR of 19.4% from 2013 to 2018. Europe commanded the largest share in 2012 with a market size of $55 million. This market is expected to reach $115 million by 2018, at an estimated CAGR of 14.0% from 2013 to 2018. APAC is the fastest growing market for industrial applications during the forecasted period due to high anticipated growth of the industries in China and India. It currently stands at $25 million and is expected to touch $125 million in 2018 at an estimated CAGR of 31.9% from 2013 to 2018.

Low manufacturing cost and further reduction in prices of these sensors throughout the forecasted period will be amongst the strong factors for increasing their consumption in fast growing application like automotives and healthcare. Europe leads in terms of revenue generation with most of the acoustic wave device manufacturers based there. The fastest growth is expected from APAC which offers great potential for acoustic wave sensors for various applications especially automotives and industrial segment.

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