(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 23, 2021, 02:05 /Comserve / -- The tilt sensor market is expected to grow at a CAGR of 8.17% between 2017 and 2023 to reach USD 260.3 million by 2023, from USD 150.8 million in 2016.
“Growing demand for construction equipment is fueling the growth of the tilt sensor market”
The tilt sensor market is expected to grow at a CAGR of 8.17% between 2017 and 2023 to reach USD 260.3 million by 2023, from USD 150.8 million in 2016. The factors such as large-scale investments for infrastructural development, rise in urbanization, and increase in construction activities in emerging economies has led to the rise in the demand for construction equipment. The construction equipment industry is a major adopter of tilt sensors. This factor is driving the growth of the said market. The tilt sensor based on force balance technology has a high accuracy level; however, these sensors are expensive than the other technologies such as MEMS and fluid filled. This is one of the major factors limiting the growth of the tilt sensor market.
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“The growth of tilt sensor market is expected to be driven by MEMS technology during the forecast period”
Tilt sensors based on MEMS technology are expected to witness a significant growth in this market during the forecast period. The growth of the MEMS technology can be credited to its wide adoption in various verticals due to its small size and low cost.
“Asia Pacific and North America are the major markets for tilt sensors”
Asia Pacific (APAC) is expected to hold the largest size of the tilt sensor market during the forecast period, followed by North America. A significant number of mining and construction equipment, automotive, and aerospace manufacturers are located in North America and APAC. These verticals are the major adopters of these sensors, thereby leading to the growth of the tilt sensor market in North America and APAC. Moreover, the governments in both these regions, especially in APAC, are making significant investments for the infrastructural development, which is further accelerating the growth of the tilt sensor market in APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the tilt sensor market. Following is the breakup of the primary participants for the report:
• By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C-Level Executives – 35%, Directors – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
Moreover, the report profiles the key players in the tilt sensor market and analyzes their market ranking. The prominent players profiled in this report are TE Connectivity Ltd. (Switzerland), SICK AG (Germany), Murata Manufacturing Co., Ltd. (Japan), Pepperl+Fuchs Vertrieb GmbH & Co. KG (Germany), Level Developments Ltd. (UK), ifm electronic gmbh (Germany), Balluff GmbH (Germany), Jewell Instruments LLC (US), DIS Sensors bv (Netherlands) and The Fredericks Company (US).
Research Coverage:
This research report categorizes the tilt sensor market on the basis of housing material type, technology, vertical, and geography. Moreover, the report provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain analysis and market ranking analysis.
Request to Fill The Form To get Sample Copy of This Report:
"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."
Reasons to Buy the Report
The report would help the leaders/new entrants in the tilt sensor market in the following ways:
1. The report segments the tilt sensor market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities in the tilt sensor market.
3. The report would help stakeholders understand their competitors better and gain insights to improve their position in the tilt sensor market. The competitive landscape section describes the competitor ecosystem.
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
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