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Global Tilt Sensor Market it is anticipated to reach more than USD 302.3 million by 2027
Tilt sensors are instruments that help in the detection of axes on a plane, by measuring the position of tilts in reference to the gravity. They are utilized in a majority of applications, as it helps in very easy detection of inclination in their applications. They are low-cost, high performing sensors that can be utilized for a long duration due to their durable nature
The growth of this market is being fueled by the growing demand for these sensors, especially from the mining and construction, aerospace and defense, and automotive and transportation verticals
Increasing levels of applications for these sensors from different industries will also drive the market growth. The tilt sensor market has witnessed steady growth over the years owing to rising demand for these devices from smartphones, automobiles, ships, laptops, gaming consoles, and land-based satellite communication device manufacturers. Furthermore, increased demand is expected from construction, agriculture, mining, transportation, and industrial automation sectors. These are a few major reasons expected to boost the growth prospects of the market over the forecast period.
Increasing levels of demand associated with construction equipment due to the increasing urbanization globally fuel the growth of the Tilt Sensor Market .The mining and construction vertical is accounted for the largest demand generating segment for the tilt sensors. These sensors are used in several mining and construction equipment and machines such as drilling machines, mobile, and stationary cranes, and structural monitoring systems. Moreover, factors such as large-scale investments for infrastructural development, rise in urbanization, and 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.
“Global Tilt Sensor Market was valued at USD 153.5 million in 2018 and it is expected to reach more than USD 302.3 million by 2025, likely to grow with the CAGR of 7.8% during the forecast period.”
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The non-metal segment is expected to dominate the Tilt Sensor Market. Based on the housing material type, the non-metal segment accounted for a dominant share of over 65% in 2018 and is likely to retain its dominance over the forecast period. The segment is also likely to emerge as the fastest-growing segment over the forecast period due to the huge demand for tilt sensors that incorporate a high-grade plastic housing material.
The automotive and transportation industry vertical segment is expected to grow a significant rate in the tilt sensor industry during the forecast period. The high adoption of tilt sensors in security systems for protecting the theft of wheels and tires is one of the major reasons fueling the growth of the tilt sensor market for automotive and transportation vertical.
The Asia Pacific accounted for the largest size of the in 2018 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 Tilt sensor market in the APAC region. APAC is home to a number of prominent mining and construction, aerospace and defense, and automotive and transportation companies. This is one of the major factors attributed to the dominant position of APAC in the overall tilt sensor market.
However, In terms of revenue, Asia Pacific is leading the global tilt sensor market in 2018. North America and Europe follow the Asia Pacific in terms of revenue share
The market is highly fragmented owing to the presence of several players trying to compete with one another. The major companies operating in the tilt sensors market globally are focusing on strategic partnership agreements with other companies along with new product development with added features and advanced technologies.
The some of key players operating in the Tilt Sensor market include TE Connectivity, Murata Manufacturing Co., Ltd, SICK AG, Pepperl+Fuchs AG, Level Developments Ltd, The Fredericks Company, MEMSIC Inc, ifm electronic gmbh, Balluff GmbH, Jewel Instruments LLC, elobau GmbH & Co. KG, and Gefran.
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