Europe Fiber Optic Sensor Market Share and Forecast by 2028

The Europe fiber optic sensor market is expected to reach US$ 1,512.6 million by 2028 from US$ 757.9 million in 2021. The market is estimated to grow at a CAGR of 10.4% from 2021–2028.

In the automotive sector, fiber optic sensors are used in lighting applications. The fiber transmits cold light, making it a safe alternative to traditional sealed beam or halogen lighting. Apart from the safety advantage, the light source is easily accessible and offers greater freedom of design. The deployment of fiber optics also allows for the separation of light source and output location, thus providing high-performance lighting options with reduced physical space requirements, making them suitable for difficult and restricted access locations. The sensors are also used in automobiles in onboard safety devices and systems, such as operating airbags, traction control devices, and safety systems. According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), ~91.3 million vehicles were sold across the world in 2019. Further, rising disposable incomes, mainly in emerging countries in APAC, promotes the sales of passenger vehicles, which, in turn, would fuel the adoption fiber optic sensors. Thus, the rising annual automotive sales is a significant factor contributing to the growth of the fiber optic sensor market.

Russia, the UK, and France are the worst-hit countries in the region. The UK and France have numerous fiber optic sensors manufacturers, while the Russia has significantly large number of sensor manufacturers. The emergence of COVID-19 virus has negatively impacted the businesses of European fiber optic sensors manufacturers as well as sensors market players. Additionally, the UK, France, Germany, and Italy have been observing the second wave of COVID-19 over the past couple of weeks, which has again compelled the manufacturers to restrict their production unit workforce, resulting in deceleration in fiber optic sensors demand.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the fiber optic sensor market. The Europe fiber optic sensor market is expected to grow at a good CAGR during the forecast period.

Europe Fiber Optic Sensor Market Segmentation 

By Vertical

• Oil & Gas
• Manufacturing
• Infrastructure
• Power and Utilities
• Others

By Application

• Temperature Sensing
• Pressure Sensing
• Acoustic Sensing
• Strain Sensing
• Others

By Country

• Europe

• • • • Germany
      • UK
      • France
      • Italy
      • Russia
      • Rest of Europe

Companies Mentioned

1. Omnisens SA
2. Solifos AG
3. Baumer Holding AG
4. Keyence Corporation
5. OMRON Corporation
6. Luna Innovations Inc.
7. SICK AG
8. Yokogawa Electric Corporation

Europe Fiber Optic Sensor Report Scope