Global Tilt Sensor Market was valued US$ 182.72 Mn in 2019 and is expected to reach US$ 300.25 Mn by 2027 at a CAGR of 7.35 % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The global tilt sensor market is a very energetic market and is expected to witness stable growth during the forecast period. The growth of the tilt sensor market is influenced by the increasing usage of tilt sensors in the construction & mining equipment’s, high implementation of these sensors in the gaming sectors and increasing adoption of non-metallic materials in different end-user industries. Furthermore, high implementation of tilt sensors, MEMS technology in tilt sensors is expected to increase the growth of market over the forecast period.
However, the complexity of technologies and high costs are the factors hindering the growth of the tilt sensor market. One of the major restraint of the tilt sensor is the complexity of the technologies. For instance, MEMS technology based tilt sensor has two capacitors while sensing the element. Therefore, it becomes difficult for consumers to use the technology. The basic elements of MEMS technology are surrounded by support structures. Also, technology converts the acceleration of the body into an electric signal. Furthermore, the usage of these technologies becomes difficult for an unskilled person to use. For instance, to understand the MEMS technology skilled labours are required so that it can enable monitoring, switching and usage of all accelerator. Therefore, the complexity of technologies is hampering the overall growth of the tilt sensor market.
Use of tilt sensors in mining and construction vertical drives the global tilt sensor market. The mining and construction vertical is the largest demand generating segment for the tilt sensors. These sensors are used for mining and construction equipment and machines such as drilling machines, mobile and stationary cranes, and structural monitoring systems. Tilt sensors are applied for providing crucial information about the tilting position of the object with reference to gravity. Moreover, factors such as large-scale investments for infrastructural development, rise in urbanization, an increase in construction activities in emerging economies has led to the rise in the demand for construction equipment. This rise in demand for construction equipment is further expected to fuel the growth of the tilt sensor market.
Asia Pacific (APAC) held the largest size of the in 2016 and is expected to witness the highest growth rate during the forecast period. China, Japan, and India are some of the major countries driving the growth of the market in APAC. APAC is home to a number of prominent mining and construction, aerospace and defence, and automotive and transportation companies. This is one of the key factors that has led to the dominant position of APAC in the overall tilt sensor market. Moreover, a number of key players operating in this market are based in APAC. This factor has a positive impact on the said market in APAC.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by type, service, components, and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the tilt sensor market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Scope of Global Tilt Sensor Market
Global Tilt Sensor Market, By Housing Material Type
Global Tilt Sensor Market, By Technology
• Force Balance
• Fluid Filled
Global Tilt Sensor Market, By Vertical
• Mining & Construction
• Automotive & Transportation
Global Tilt Sensor Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Tilt Sensor Market
• ASM GmbH
• Balluff GmbH
• Dis Sensors Bv
• Elobau GmbH
• Gefran S.P.A
• Ifm Electronic Pvt. Ltd
• Jewell Instruments LLC
• Level Developments Ltd
• Meggitt PLC