Canada Industrial Sensors Market - Forecasts from 2023 to 2028

The Canada industrial sensors market is expected to grow to US$666.174 million by 2028, up from US$ 447.789 million in 2021, with a CAGR of 5.84% during the projected period.

Sensors can be used in multiple end-user industries and can be used to detect real-world properties such as heat, pressure, and distance among others. Additionally, industrial sensors help in improving processes and offer unmatched asset protection. Industrial sensors also provide reliability and accuracy in measures for physical, chemical, or biological quantities. Hence, there are multiple benefits provided by industrial sensors. New and innovative product launches are happening in the industrial sensors market which is further expected to boost the market growth. For instance, Mitsubishi Electric Corporation, which is headquartered in Tokyo but operates all around the world including Canada launched the KD-CXF series of contact image sensors in November 2022. These sensors are equipped with the industry's deepest, depth of field and will be widely used in manufacturing to inspect product surfaces for dirt, scratches, discoloring, or misposition of printed labels, and plastic films among others.

Increasing manufacturing industry in the country

The manufacturing industry in Canada is expanding significantly in Canada, the growth can be attributed to increasing spending by people and increasing population in the country. According to the Government of Canada, Innovation, Science, and Economic Development, manufacturing is a pillar store in the modern economy and accounts for approximately, US$ 174 billion in the GDP which makes 10% of Canada’s total GDP. In the projected period, the increasing utilization of gas sensors in the oil and gas industry, the increasing trend towards industrial automation, and the increased disposition towards predictive maintenance are increasing the demand for industrial sensors in Canada. According to Statistics Canada, Government of Canada, manufacturing sales are increasing pointedly in Canada. In January 2022, the manufacturing sales were 67.223 billion Canadian dollars which increased to 74.327 billion Canadian dollars in January 2023. With this sudden spike in images, sensors have found a special application in this segment. Additionally, the use of machine vision technology is being widely used in the manufacturing and processing sectors. Hence, with the growth of the manufacturing industry in Canada in the projected period increased growth is anticipated to happen in industrial sensors in the country.

The Ontario industrial sensors market is anticipated to grow steadily. 

Ontario is one of the major Canadian provinces that is witnessing growth in its industrial productivity. Major sectors such as automotive are witnessing a significant upsurge due to favorable investments and a booming consumer shift towards EVs. For instance, according to Statistics Canada, in Q2 of 2023, registration of zero-emission vehicles in Ontario stood at 11,335 units which represented a significant 34.1% increase in registration in comparison to Q1 of 2023. Moreover, as per the same source Ontario held the highest share of 35.9% for the total vehicle registrations in 2022. Sensor usage in electric vehicles bolsters intelligent energy management and with the growing shift towards zero emission and increasing adoption of electric vehicles, the demand for sensors is expected to increase in Ontario thereby propelling the overall market growth.

Market Key Developments

• In February 2023, Nix Sensor Ltd. launched the 3rd version of its “Nix Mini Color Sensors” which allows accurate color measuring and analysis. The technology can recognize the slightest color variations.
• In November 2021, L3Harris, which is the industry leader in infrared sensor/electro-optical sensors established its new facility in Hamilton, Ontario. The 330,000-square-foot facility would involve manufacturing and investing in next-generation technologies.

Segmentation:

By Type

• Pressure Sensor
• Temperature Sensor
• Level Sensor
• Image Sensor
• Flow Sensor
• Proximity Sensor

By End-User Industry

• Healthcare
• Petrochemical
• Automotive
• Manufacturing
• Energy & Power

By Province

• Ontario
• Quebec
• Alberta
• British Columbia
• Others