The global tilt sensor market is likely to account for USD 288.7 million by 2025. The market is anticipated to expand at 8.9% CAGR over the forecast duration, according to Million Insights. These sensors help in measuring the angular inclination of equipment or vehicles, thereby, altering operators or drivers about probable incidents. The adoption of tilt sensors has increased owing to the increasing focus on safety in construction equipment and automobile.
Owing to the increase in the number of incidents due to tilting and rolling over, regulatory bodies are making it mandatory to use tilt sensors in various applications like transportation, aerospace & defense, mining and construction. This factor is further estimated to supplement the market growth of tilt sensors.
In addition, due to the rising investment in various infrastructural projects, mining industry, transportation sectors and construction sector, the market is projected to gain further traction over the next six years. Aerospace & defense sector is likely to drive the tile sensors to demand owing to the heavy investment made by the government in this sector to develop aircraft, launches, armored vehicles and weapon platforms.
Asia Pacific accounted for the highest share in the market in 2018, and the region is estimated to continue its dominance over the forecast years. Rapid growth in the construction, automobile, mining and aerospace & defense sector is attributing to this growth. Further, it is predicted that the prices of the tilt sensor would reduce over the next few years, which, in turn, would drive the regional growth.
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Further key findings from the report suggest:
• By material type, the non-metal housing division is anticipated to register more than 10% CAGR over the forecast duration.
• Solid-state (MEMS) category is projected to witness more than 9.5% CAGR over the next six years.
• In 2018, Asia Pacific held the highest share in thetilt sensor market and expected to register the maximum CAGR over the next few years.
• Key players operating in the market are TE Connectivity, Balluff GmbH, Level Developments, SICK AG,Murata Manufacturing and Gefran among others.
Million Insights segmented the global tilt sensors market on the basis of housing material type, technology, application, and region:
Tilt Sensors Housing Material Type Outlook (Revenue, USD Million; Volume, Thousand Units, 2015 - 2025)
Tilt Sensors Technology Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• Solid State (MEMS)
• Force Balanced
Tilt Sensors Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• Construction & Mining
• Automotive & Transportation
• Aerospace & Defense
Tilt Sensors Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)