U.S. demand for sensors, transducers and associated housings will increase 5.2 percent annually to $12.3 billion in 2014, spurred by economic recovery, particularly in motor vehicle production, from a weak 2009 base, according to the Freedonia Group.
In addition, technological advances will continue to open up new markets for sensors. However, these advances will also tend to increase capabilities at lower prices, which will limit growth in value terms.
Shipments of sensor products from US facilities will rise 5.1 percent annually through 2014. Trade is important in the sensor industry, with imports representing nearly 30 percent of demand and exports representing one-quarter of shipments in 2009. Growth in imports is expected to outpace export gains, with rising imports expected from both leading sensor-producing nations such as Japan and Germany, as well as from developing nations such as Mexico and China, which benefit from lower production costs.
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