LVDT & RVDT Market Size, Share, Growth, and Industry Growth, By Type (LVDT and RVDT), By Application (Military/Aerospace, Power Generation, Petrochemical, Automotive Industry, and Others), Regional Forecast To 2031

Updated On: 20 November 2023

LVDT & RVDT MARKET REPORT OVERVIEW

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The global LVDT & RVDT market size was USD 1949.6 million in 2022 and is projected to touch USD 3465.44 million by 2031, exhibiting a CAGR of 6.6% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.The global COVID-19 pandemic has been unprecedented and staggering, with LVDT & RVDT experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. 

LVDT & RVDT stands for linear variable differential transformers and rotary variable differential transformers. The linear variable differential transformer is an absolute position sensor and is non-contact. Absolute position sensors without touch are known as linear variable differential transformers (LVDT). They consist of a ferromagnetic core that may be attached to an extension rod and a transformer contained in a metal case. The transformer's spool tube, also known as the bore liner, glides the core inside. 

In the case of DC LVDTs, the signal conditioning electronics are also contained within the transformer, together with the coil assembly with primary and secondary windings. An electromechanical transducer known as a rotary variable differential transformer (RVDT) produces an irregular alternating draft (AC) result voltage that is linearly proportional to the angular removal of its intake stake. These are used to drive low costs and enhance the functionality of the transformer. The market for AC and DC LVDT and RVDT Differential Transformers is experiencing tremendous expansion in AI processing capabilities, autonomous vehicles poised to enter the mainstream, and better commercials.

COVID-19 Impact: Disturbance in Manufacturing and Supply of Product Retarded Growth

The effects of the pandemic were allegedly severe as it affected the economy on a global scale. The LVDT & RVDT market growth was reportedly influenced by the outbreak of COVID-19. The market witnessed a negative impact of the pandemic and the lockdown due to various restrictions in manufacturing and supply chains. The demand for the product decreased due to stringent regulations on the supply of the materials. The production of transformers and the supply of existing products were halted. 

LATEST TRENDS

"Product Applications in Aerospace & Defense to Surge Growth"

The use of LVDTs in aerospace is extensive and includes pilot control, nose wheel steering, engines, and flight controls. LVDTs can be used in primary or secondary flight control to obtain position feedback for the flap, slat, and spoiler mechanisms within the flight control actuation systems. It is crucial to make sure that all panels on aircraft with several slats or flaps operate in unison. Additionally, the LVDT sensors' position data support aids in the accurate implementation of pilot intakes to the management by directing flight control actuation systems. Additionally, the data is used to give the pilot feedback, and the flight computer is incorporated into other aircraft systems. Additionally, it is utilized to determine engine linkage locations or valve functionality areas.

LVDT & RVDT MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into LVDT and RVDT.

• By Application Analysis

Based on application, the market is classified into military/aerospace, power generation, petrochemical, automotive industry, and others. 

DRIVING FACTORS

"Various Product Benefits to Surge the Market Growth"

LVDT & RVDT consumes lower power than other transformers and is highly sensitive. These transformers have ruggedness and offer higher accuracy. These are easy to maintain and align, have a wide range, and have a lower loss of hysteresis. Additionally, the smaller size and less weight of the transformer make it easily portable. Using LVDT & RVDT offers higher output impedance and stays unaffected due to the outer environment. These factors are anticipated to propel market growth. 

"Use of Products as Sensors to Foster Product Demand"

The rising use of inductive and linear variable differential transformer (LVDT) sensors in proximity warning systems, vehicle parking systems, and other applications is estimated to fuel LVDT & RVDT market growth. The development of safety and security systems, an increase in the food and beverage industry, and improvement in automobile security and infotainment systems are all forecasted to contribute to the market's overall expansion in the forecast period. Moreover, the escalating food & beverages industry is also estimated to drive LVDT & RVDT market growth and the steady development of safety and security systems. 

RESTRAINING FACTORS

"High Initial Investment and Presence of Various Manufacturers to Retard Growth"

The transformers require higher initial investment costs, which is estimated to resist medium-sized industries from adopting the LVDT & RVDT. Additionally, the existence of multiple manufacturers may affect the market expansion. These factors are projected to deprive growth of the market. 

LVDT & RVDT MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market Owing To the Availability of Low-Cost Labor"

Asia Pacific is likely to lead the global market and hold more than 35% of the total LVDT & RVDT market share. The growth of the region is also attributable to the availability of labor manufacturing at a low cost. 

North America is estimated to show commendable growth in the global market owing to the expanding usage of the product in power generation and petrochemicals.

Europe is expected to show sizable growth owing to the presence of lucrative growth opportunities in the global market. 

KEY INDUSTRY PLAYERS

"Key Players to Focus On Product Development for Global Market Growth"

The businesses are working on developing new eco-friendly goods and services that provide customers better effectiveness and greater value. Businesses also use innovation, acquisitions, and investments to try to increase sales. They are raising their production capacity in order to better serve their various markets. The marketplace is competitive as a result of the existence of numerous huge firms. An extensive worldwide consumer base and the execution of operations through specialized distribution networks are other characteristics. The key companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• Honeywell (U.S.)
• TE Connectivity (Switzerland)
• Sensata Technologies (Kavlico) (India)
• Curtiss-Wright (U.S.)
• G.W. Lisk Company (U.S.)
• Micro-Epsilon (India)
• AMETEK (U.S.)
• Meggitt (Sensorex) (France)
• Hoffmann + Krippner (Inelta) (Germany)
• OMEGA (Spectris) (U.S.)
• Sensonics (U.S.A.)
• Monitran (U.K.)
• WayCon Positionsmesstechnik (Germany)
• Active Sensors (U.K.)
• Parker Hannifin (LORD) (U.S.)

REPORT COVERAGE

The report covers various market aspects, such as:

• The product description is added to a brief about the product.
• Impacts of the lockdown followed by the pandemic.
• A driving factor becoming the new trend in the market and surging LVDT & RVDT market growth.
• The factors which are likely to drive growth in the market.
• Factors expected to decline in growth in the market.
• An in-depth regional analysis of the market is performed.
• Key players and their headquarters are also covered in the report.