The North America Magnetometer Market would witness market growth of 6.1% CAGR during the forecast period (2023-2029).
The magnetometer market is expected to see substantial growth due to increasing healthcare innovations in the product, particularly in the healthcare industry. The advancements allow industry stakeholders to gain insight into customer requirements, update their business strategies, and revamp their offerings. Moreover, optical magnetometer optical sensors are considered a cost-effective substitute for expensive medical imaging technologies such as MRI and ECG.
This trend is expected to decrease healthcare expenses for nations globally and provide cost-efficient healthcare solutions to stakeholders in the industry. The market is expected to experience growth due to the increased usage of magnetometers in consumer electronics, including toys, home appliances, digital cameras, smartphones, and other electronic instruments. Compact and robust magnetometers are available in board-mount packages or shielded enclosures to meet the needs of various environments. Moreover, the development of adaptable magnetic sensors has motivated several clients to explore novel opportunities.
The United States can lead the E.V. future by increasing job opportunities, boosting domestic production, addressing climate change, and promoting environmental justice. The government has set the target that half of all cars sold in the United States will be electric by 2030. The Inflation Reduction Act is aiding the government in reducing the cost of new and used electric vehicles for consumers and creating a more stable market environment for the automotive industry. Furthermore, the government's increased initiatives to encourage the usage and manufacturing of electric vehicles in neighboring countries are anticipated to drive the demand for magnetometers, resulting in the growth of the regional market.
The US market dominated the North America Magnetometer Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $701.9 million by 2029. The Canada market is poised to grow at a CAGR of 8.5% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 7.6% during (2023 - 2029).
Based on Form Factor, the market is segmented into Fixed, and Portable. Based on Type, the market is segmented into Vector, Fluxgate, Proton Precession, Scalar, and Others. Based on Application, the market is segmented into Navigation, Industrial Automation, Geophysics & Mining, Space Exploration, and Medical Devices & Others. Based on Product Type, the market is segmented into 3 Axis, 3Dimensional, and Single Axis. Based on Vertical, the market is segmented into Consumer Electronics, Aerospace & Defense, Automotive, Healthcare, Industrial, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Magnetometer Market is Projected to reach USD 3.3 Billion by 2029, at a CAGR of 6.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Honeywell International, Inc., Geometrics, Inc. (OYO Corporation), Metrolab Technology SA, VectorNav Technologies, LLC, Lake Shore Cryotronics, Inc., FOERSTER Holding GmbH, Bartington Instruments Ltd., Cryogenic Limited, Marine Magnetics Corp., and GEM Systems, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Form Factor
By Type
- Vector
- Fluxgate
- Proton Precession
- Scalar
- Others
By Application
- Navigation
- Industrial Automation
- Geophysics & Mining
- Space Exploration
- Medical Devices & Others
By Product Type
- 3 Axis
- 3Dimensional
- Single Axis
By Vertical
- Consumer Electronics
- Aerospace & Defense
- Automotive
- Healthcare
- Industrial
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Honeywell International, Inc.
- Geometrics, Inc. (OYO Corporation)
- Metrolab Technology SA
- VectorNav Technologies, LLC
- Lake Shore Cryotronics, Inc.
- FOERSTER Holding GmbH
- Bartington Instruments Ltd.
- Cryogenic Limited
- Marine Magnetics Corp.
- GEM Systems, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Magnetometer Market, by Form Factor
1.4.2 North America Magnetometer Market, by Type
1.4.3 North America Magnetometer Market, by Application
1.4.4 North America Magnetometer Market, by Product Type
1.4.5 North America Magnetometer Market, by Vertical
1.4.6 North America Magnetometer Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.3.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, May – 2023, Feb) Leading Players
Chapter 4. North America Magnetometer Market by Form Factor
4.1 North America Fixed Market by Country
4.2 North America Portable Market by Country
Chapter 5. North America Magnetometer Market by Type
5.1 North America Vector Market by Country
5.2 North America Fluxgate Market by Country
5.3 North America Proton Precession Market by Country
5.4 North America Scalar Market by Country
5.5 North America Others Market by Country
Chapter 6. North America Magnetometer Market by Application
6.1 North America Navigation Market by Country
6.2 North America Industrial Automation Market by Country
6.3 North America Geophysics & Mining Market by Country
6.4 North America Space Exploration Market by Country
6.5 North America Medical Devices & Others Market by Country
Chapter 7. North America Magnetometer Market by Product Type
7.1 North America 3 Axis Market by Country
7.2 North America 3Dimensional Market by Country
7.3 North America Single Axis Market by Country
Chapter 8. North America Magnetometer Market by Vertical
8.1 North America Consumer Electronics Market by Country
8.2 North America Aerospace & Defense Market by Country
8.3 North America Automotive Market by Country
8.4 North America Healthcare Market by Country
8.5 North America Industrial Market by Country
8.6 North America Others Market by Country
Chapter 9. North America Magnetometer Market by Country
9.1 US Magnetometer Market
9.1.1 US Magnetometer Market by Form Factor
9.1.2 US Magnetometer Market by Type
9.1.3 US Magnetometer Market by Application
9.1.4 US Magnetometer Market by Product Type
9.1.5 US Magnetometer Market by Vertical
9.2 Canada Magnetometer Market
9.2.1 Canada Magnetometer Market by Form Factor
9.2.2 Canada Magnetometer Market by Type
9.2.3 Canada Magnetometer Market by Application
9.2.4 Canada Magnetometer Market by Product Type
9.2.5 Canada Magnetometer Market by Vertical
9.3 Mexico Magnetometer Market
9.3.1 Mexico Magnetometer Market by Form Factor
9.3.2 Mexico Magnetometer Market by Type
9.3.3 Mexico Magnetometer Market by Application
9.3.4 Mexico Magnetometer Market by Product Type
9.3.5 Mexico Magnetometer Market by Vertical
9.4 Rest of North America Magnetometer Market
9.4.1 Rest of North America Magnetometer Market by Form Factor
9.4.2 Rest of North America Magnetometer Market by Type
9.4.3 Rest of North America Magnetometer Market by Application
9.4.4 Rest of North America Magnetometer Market by Product Type
9.4.5 Rest of North America Magnetometer Market by Vertical
Chapter 10. Company Profiles
10.1 Honeywell International, Inc.
10.1.1 Company Overview
10.1.2 Financial Analysis
10.1.3 Segmental and Regional Analysis
10.1.4 Research & Development Expenses
10.1.5 Recent strategies and developments:
10.1.5.1 Partnerships, Collaborations, and Agreements:
10.1.5.2 Product Launches and Product Expansions:
10.1.5.3 Acquisition and Mergers:
10.1.6 SWOT Analysis
10.2 Geometrics, Inc. (OYO Corporation)
10.2.1 Company Overview
10.2.2 Financial Analysis
10.2.3 Segmental and Regional Analysis
10.2.4 Research & Development Expenses
10.3 Metrolab Technology SA
10.3.1 Company Overview
10.3.2 Recent strategies and developments:
10.3.2.1 Partnerships, Collaborations, and Agreements:
10.3.2.2 Product Launches and Product Expansions:
10.4 VectorNav Technologies, LLC
10.4.1 Company Overview
10.4.2 Recent strategies and developments:
10.4.2.1 Partnerships, Collaborations, and Agreements:
10.4.2.2 Product Launches and Product Expansions:
10.5 Lake Shore Cryotronics, Inc.
10.5.1 Company Overview
10.5.2 Recent strategies and developments:
10.5.2.1 Partnerships, Collaborations, and Agreements:
10.5.2.2 Acquisition and Mergers:
10.6 FOERSTER Holding GmbH
10.6.1 Company Overview
10.6.2 Recent strategies and developments:
10.6.2.1 Acquisition and Mergers:
10.7 Bartington Instruments Ltd.
10.7.1 Company Overview
10.8 Cryogenic Limited
10.8.1 Company Overview
10.9 Marine Magnetics Corp.
10.9.1 Company Overview
10.10. GEM Systems, Inc.
10.10.1 Company Overview
TABLE 1 North America Magnetometer Market, 2019 - 2022, USD Million
TABLE 2 North America Magnetometer Market, 2023 - 2029, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Magnetometer Market
TABLE 4 Product Launches And Product Expansions– Magnetometer Market
TABLE 5 Acquisition and Mergers– Magnetometer Market
TABLE 6 North America Magnetometer Market by Form Factor, 2019 - 2022, USD Million
TABLE 7 North America Magnetometer Market by Form Factor, 2023 - 2029, USD Million
TABLE 8 North America Fixed Market by Country, 2019 - 2022, USD Million
TABLE 9 North America Fixed Market by Country, 2023 - 2029, USD Million
TABLE 10 North America Portable Market by Country, 2019 - 2022, USD Million
TABLE 11 North America Portable Market by Country, 2023 - 2029, USD Million
TABLE 12 North America Magnetometer Market by Type, 2019 - 2022, USD Million
TABLE 13 North America Magnetometer Market by Type, 2023 - 2029, USD Million
TABLE 14 North America Vector Market by Country, 2019 - 2022, USD Million
TABLE 15 North America Vector Market by Country, 2023 - 2029, USD Million
TABLE 16 North America Fluxgate Market by Country, 2019 - 2022, USD Million
TABLE 17 North America Fluxgate Market by Country, 2023 - 2029, USD Million
TABLE 18 North America Proton Precession Market by Country, 2019 - 2022, USD Million
TABLE 19 North America Proton Precession Market by Country, 2023 - 2029, USD Million
TABLE 20 North America Scalar Market by Country, 2019 - 2022, USD Million
TABLE 21 North America Scalar Market by Country, 2023 - 2029, USD Million
TABLE 22 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 23 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 24 North America Magnetometer Market by Application, 2019 - 2022, USD Million
TABLE 25 North America Magnetometer Market by Application, 2023 - 2029, USD Million
TABLE 26 North America Navigation Market by Country, 2019 - 2022, USD Million
TABLE 27 North America Navigation Market by Country, 2023 - 2029, USD Million
TABLE 28 North America Industrial Automation Market by Country, 2019 - 2022, USD Million
TABLE 29 North America Industrial Automation Market by Country, 2023 - 2029, USD Million
TABLE 30 North America Geophysics & Mining Market by Country, 2019 - 2022, USD Million
TABLE 31 North America Geophysics & Mining Market by Country, 2023 - 2029, USD Million
TABLE 32 North America Space Exploration Market by Country, 2019 - 2022, USD Million
TABLE 33 North America Space Exploration Market by Country, 2023 - 2029, USD Million
TABLE 34 North America Medical Devices & OthersMarket by Country, 2019 - 2022, USD Million
TABLE 35 North America Medical Devices & OthersMarket by Country, 2023 - 2029, USD Million
TABLE 36 North America Magnetometer Market by Product Type, 2019 - 2022, USD Million
TABLE 37 North America Magnetometer Market by Product Type, 2023 - 2029, USD Million
TABLE 38 North America 3 Axis Market by Country, 2019 - 2022, USD Million
TABLE 39 North America 3 Axis Market by Country, 2023 - 2029, USD Million
TABLE 40 North America 3Dimensional Market by Country, 2019 - 2022, USD Million
TABLE 41 North America 3Dimensional Market by Country, 2023 - 2029, USD Million
TABLE 42 North America Single Axis Market by Country, 2019 - 2022, USD Million
TABLE 43 North America Single Axis Market by Country, 2023 - 2029, USD Million
TABLE 44 North America Magnetometer Market by Vertical, 2019 - 2022, USD Million
TABLE 45 North America Magnetometer Market by Vertical, 2023 - 2029, USD Million
TABLE 46 North America Consumer Electronics Market by Country, 2019 - 2022, USD Million
TABLE 47 North America Consumer Electronics Market by Country, 2023 - 2029, USD Million
TABLE 48 North America Aerospace & DEFENSE MARKET by Country, 2019 - 2022, USD Million
TABLE 49 North America Aerospace & DEFENSE MARKET by Country, 2023 - 2029, USD Million
TABLE 50 North America Automotive Market by Country, 2019 - 2022, USD Million
TABLE 51 North America Automotive Market by Country, 2023 - 2029, USD Million
TABLE 52 North America Healthcare Market by Country, 2019 - 2022, USD Million
TABLE 53 North America Healthcare Market by Country, 2023 - 2029, USD Million
TABLE 54 North America Industrial Market by Country, 2019 - 2022, USD Million
TABLE 55 North America Industrial Market by Country, 2023 - 2029, USD Million
TABLE 56 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 57 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 58 North America Magnetometer Market by Country, 2019 - 2022, USD Million
TABLE 59 North America Magnetometer Market by Country, 2023 - 2029, USD Million
TABLE 60 US Magnetometer Market, 2019 - 2022, USD Million
TABLE 61 US Magnetometer Market, 2023 - 2029, USD Million
TABLE 62 US Magnetometer Market by Form Factor, 2019 - 2022, USD Million
TABLE 63 US Magnetometer Market by Form Factor, 2023 - 2029, USD Million
TABLE 64 US Magnetometer Market by Type, 2019 - 2022, USD Million
TABLE 65 US Magnetometer Market by Type, 2023 - 2029, USD Million
TABLE 66 US Magnetometer Market by Application, 2019 - 2022, USD Million
TABLE 67 US Magnetometer Market by Application, 2023 - 2029, USD Million
TABLE 68 US Magnetometer Market by Product Type, 2019 - 2022, USD Million
TABLE 69 US Magnetometer Market by Product Type, 2023 - 2029, USD Million
TABLE 70 US Magnetometer Market by Vertical, 2019 - 2022, USD Million
TABLE 71 US Magnetometer Market by Vertical, 2023 - 2029, USD Million
TABLE 72 Canada Magnetometer Market, 2019 - 2022, USD Million
TABLE 73 Canada Magnetometer Market, 2023 - 2029, USD Million
TABLE 74 Canada Magnetometer Market by Form Factor, 2019 - 2022, USD Million
TABLE 75 Canada Magnetometer Market by Form Factor, 2023 - 2029, USD Million
TABLE 76 Canada Magnetometer Market by Type, 2019 - 2022, USD Million
TABLE 77 Canada Magnetometer Market by Type, 2023 - 2029, USD Million
TABLE 78 Canada Magnetometer Market by Application, 2019 - 2022, USD Million
TABLE 79 Canada Magnetometer Market by Application, 2023 - 2029, USD Million
TABLE 80 Canada Magnetometer Market by Product Type, 2019 - 2022, USD Million
TABLE 81 Canada Magnetometer Market by Product Type, 2023 - 2029, USD Million
TABLE 82 Canada Magnetometer Market by Vertical, 2019 - 2022, USD Million
TABLE 83 Canada Magnetometer Market by Vertical, 2023 - 2029, USD Million
TABLE 84 Mexico Magnetometer Market, 2019 - 2022, USD Million
TABLE 85 Mexico Magnetometer Market, 2023 - 2029, USD Million
TABLE 86 Mexico Magnetometer Market by Form Factor, 2019 - 2022, USD Million
TABLE 87 Mexico Magnetometer Market by Form Factor, 2023 - 2029, USD Million
TABLE 88 Mexico Magnetometer Market by Type, 2019 - 2022, USD Million
TABLE 89 Mexico Magnetometer Market by Type, 2023 - 2029, USD Million
TABLE 90 Mexico Magnetometer Market by Application, 2019 - 2022, USD Million
TABLE 91 Mexico Magnetometer Market by Application, 2023 - 2029, USD Million
TABLE 92 Mexico Magnetometer Market by Product Type, 2019 - 2022, USD Million
TABLE 93 Mexico Magnetometer Market by Product Type, 2023 - 2029, USD Million
TABLE 94 Mexico Magnetometer Market by Vertical, 2019 - 2022, USD Million
TABLE 95 Mexico Magnetometer Market by Vertical, 2023 - 2029, USD Million
TABLE 96 Rest of North America Magnetometer Market, 2019 - 2022, USD Million
TABLE 97 Rest of North America Magnetometer Market, 2023 - 2029, USD Million
TABLE 98 Rest of North America Magnetometer Market by Form Factor, 2019 - 2022, USD Million
TABLE 99 Rest of North America Magnetometer Market by Form Factor, 2023 - 2029, USD Million
TABLE 100 Rest of North America Magnetometer Market by Type, 2019 - 2022, USD Million
TABLE 101 Rest of North America Magnetometer Market by Type, 2023 - 2029, USD Million
TABLE 102 Rest of North America Magnetometer Market by Application, 2019 - 2022, USD Million
TABLE 103 Rest of North America Magnetometer Market by Application, 2023 - 2029, USD Million
TABLE 104 Rest of North America Magnetometer Market by Product Type, 2019 - 2022, USD Million
TABLE 105 Rest of North America Magnetometer Market by Product Type, 2023 - 2029, USD Million
TABLE 106 Rest of North America Magnetometer Market by Vertical, 2019 - 2022, USD Million
TABLE 107 Rest of North America Magnetometer Market by Vertical, 2023 - 2029, USD Million
TABLE 108 Key Information – Honeywell International, Inc.
TABLE 109 Key Information – Geometrics, Inc.
TABLE 110 Key Information – Metrolab Technology SA
TABLE 111 Key Information – VectorNav Technologies, LLC
TABLE 112 Key Information – Lake Shore Cryotronics, Inc.
TABLE 113 Key Information – FOERSTER Holding GmbH
TABLE 114 Key Information – Bartington Instruments Ltd.
TABLE 115 Key Information – Cryogenic Limited
TABLE 116 Key Information – Marine Magnetics Corp.
TABLE 117 Key Information – GEM Systems, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 4 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2018, May – 2023, Feb) Leading Players
FIG 5 Recent strategies and developments: Honeywell International, Inc.
FIG 6 Swot analysis: Honeywell international, inc.
FIG 7 Recent strategies and developments: Metrolab Technology SA
FIG 8 Recent strategies and developments: VectorNav Technologies, LLC