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The predicted growth for the tilt sensor market share from 2021 to 2026 is USD 72.84 million at a progressing CAGR of 6.3%.
This tilt sensor market forecast report extensively covers segmentations by:
The tilt sensor market report offers information on several market vendors, including ALTHEN GmbH, Balluff GmbH, Baumer Holding AG, Digipas Technologies Inc., ELGO ELECTRONIC GmbH and Co. KG, ifm electronic GmbH, Jewell Instruments LLC, MP-SENSOR GmbH, OMRON Corp., Pepperl and Fuchs SE, Rotero Holding, SICK AG, SignalQuest LLC, STG Germany GmbH, TE Connectivity Ltd., TEKBOX DIGITAL SOLUTIONS, TSM SENSORS SRL, TURCK India Automation Pvt. Ltd., WIKA Alexander Wiegand SE ad Co. KG, and WYLER AG among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing adoption of tilt sensors in industrial sectors is notably driving the tilt sensor market growth, although factors such as the downturn in the mining industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tilt sensor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Tilt Sensor Market Driver
The growing adoption of tilt sensors in industrial sectors is one of the key drivers supporting the tilt sensor market growth. Tilt sensors are undergoing a series of technological advances. Meanwhile, there is an increase in the number of ways through which technology experts are integrating tilt sensors in their applications. For instance, there was a time when these sensors were only used in measuring safety parameters but now they have various other applications as well. They are now used to drive improvements in areas such as driver comfort. Moreover, safety has always been of paramount importance, specifically in the agriculture and construction industries. Being an indispensable part of these industries, tilt sensors are used for applications such as platform leveling, tip-over protection, and tilt alarms. Thus, the growing adoption of tilt sensors in the industrial sector will foster the growth of the global tilt sensor market during the forecast period.
Key Tilt Sensor Market Trend
New safety regulations pertaining to tilt sensors and MEWPs is one of the key tilt sensor market trends contributing to the market growth. Significantly, safety regulations in the US and Europe are becoming more stringent. To meet the growing safety requirements, manufacturers of cranes, lift platforms, and agricultural equipment are incorporating tilt sensors to help ensure the safety of the working personnel. For instance, sensors are used to measure the angle of the crane tilt to check whether the crane has attained the required safety certifications. In addition to safety requirements, government regulations related to electromagnetic compatibility (EMC) are a mandate that must be taken into consideration. These requirements place an increasing burden on design engineers for including the latest technological advantages while also ensuring compliance with new regulations. These requirements are boosting the tilt sensor market growth.
Key Tilt Sensor Market Challenge
The downturn in the mining industry is one of the challenges limiting the tilt sensor market growth. The mining companies have now cut down on capital investment in new mines. Many debt-ridden miners have started consolidating and reducing their capacity in the hopes of cutting costs and regaining profitability. Moreover, the low performance of the mining industry is expected to continue for the next few years. On the other hand, the growing pressure for using cleaner fuels and reducing carbon emissions is also challenging the growth of the coal industry. Though coal will remain an important, long-term fuel source for many economies, the growth of the coal industry will remain stunted. Thus, these challenges will pose a serious risk to the demand for tilt sensors during the forecast period.
This tilt sensor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global tilt sensor market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tilt sensor market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the tilt sensor market encompasses successful business strategies deployed by the key vendors. The tilt sensor market is fragmented and the vendors are deploying growth strategies such as quality, features, functionalities, and service to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The tilt sensor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the tilt sensor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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42% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the tilt sensor market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growing urbanization will facilitate the tilt sensor market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 had a negative impact on the regional tilt sensor market. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of countries in APAC, activities in end-user industries gradually became normal. Therefore, the demand for tilt sensors increased, which will lead to the growth of the regional market during the forecast period.
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The tilt sensor market share growth by the mining and construction segment will be significant during the forecast period. Tilt sensors find a wide range of applications in the construction industry. For instance, the production of combustible dust takes place within construction environments, and in such circumstances, tilt sensors such as vehicle inclinometers are used to measure the angle of crane tilt to check whether the crane has attained the required safety certifications. Similarly, in the mining industry, truck inclinometers are used for the transportation of coal. Thus, the global tilt sensor market in the mining and construction industry is expected to feature a positive growth rate during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the tilt sensor market size and actionable market insights on post COVID-19 impact on each segment.
Humidity Sensor market - The market share is expected to increase by USD 716.57 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.71%.
Reed Sensor market - The market share is expected to increase by USD 637.26 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.98%.
Smart Sensor market - The market share is expected to increase by USD 40.49 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 13.18%.
Tilt Sensor Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.3% |
Market growth 2022-2026 |
$ 72.84 million |
Market structure |
Fragmented |
YoY growth (%) |
5.0 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 42% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
ALTHEN GmbH, Balluff GmbH, Baumer Holding AG, Digipas Technologies Inc., ELGO ELECTRONIC GmbH and Co. KG, ifm electronic GmbH, Jewell Instruments LLC, MP-SENSOR GmbH, OMRON Corp., Pepperl and Fuchs SE, Rotero Holding, SICK AG, SignalQuest LLC, STG Germany GmbH, TE Connectivity Ltd., TEKBOX DIGITAL SOLUTIONS, TSM SENSORS SRL, TURCK India Automation Pvt. Ltd., WIKA Alexander Wiegand SE ad Co. KG, and WYLER AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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