Wilmington, Delaware, United States, March 30, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The vibration sensor market generated US$ 3.5 billion in 2022 and the global market is projected to reach US$ 5.6 billion by 2031. The global industry is expected to grow at a CAGR of 5.6% between 2023 and 2031. The growing demand for improved productivity of machines and the development of advanced tools will lead to growth of the market.
High-frequency vibration sensors provide a cost-effective and easy installation process for market growth. In addition to the growth of compact sensors and innovative devices for various applications, demand for vibration sensors will significantly grow in the market.
Demand for smart home security technologies including personal care kits, security systems, and energy management solutions, is expected to drive the market demand for vibration sensors.
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A recent Environment Impact Assessment found that the majority of US oil and natural gas production is generated by wells generating between 100 and 3,200 barrels of oil equivalent per day (BOE/d). As a result, the price of oil is likely to be affected in the market. It is therefore evident that the heavy machinery industry is leveraging technology to optimize maintenance and automate processes. As a result, vibration sensors are likely to experience further growth in the market.
A recent study by the European Automotive Manufacturers Association shows that 18.5 million automobiles, vans, and trucks are produced in Europe every year, which drives the piezoresistive vibration sensor market. With the increase in automation and advanced technologies used for military and naval devices, the demand for vibration sensors is expected to grow in the Asia Pacific region.
Key Findings of Market Report
- The process industry retained a significant market share of 29.34% in 2022 and is anticipated to dominate the market.
- According to the market analysis, in 2022, the accelerometers segment held the largest market share, representing 58.3% in 2022.
- By end-use, the process industry accounted for 29.4% of total vibration sensor use in 2022. This will maintain its growth pace at a CAGR of 6.4%.
- Market demand for wireless vibration sensors is expected to increase, which will lead to an increase in the market demand for vibration sensors.
- Adaptations in electronic technology, computer systems, and industrial processes have led to the development of a variety of vibration sensors.
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Global Vibration Sensor Market: Growth Drivers
- Due to the ongoing transition from preventive to predictive maintenance, vibration sensors are expected to be in high demand. Increasing adoption of wireless sensor networks technology across a wide range of industries, and increasing awareness of the importance of predictive maintenance in various industries.
- With the growth of IoT and Industry 4.0 technologies, the market demand has increased substantially. Vibration sensors are becoming increasingly integrated with advanced technologies, such as Artificial Intelligence (AI) and the Internet of Things (IoT) which create potential opportunities for the market to grow in the future.
- As the defense industry continues to expand, the demand for accelerometers is expected to increase significantly. High-tech accelerometers are increasingly being employed in a wide range of applications due to the rapid growth of small-diameter missiles, submersible devices, and drones in the market.
Global Vibration Sensor Market: Regional Landscape
- According to the global industry analysis, the Asia Pacific vibration sensor market held a share of 31.87% in 2022.
- In 2022, the vibrating sensor market in China was valued at US$ 486.2 million during the forecast period.
- With the increasing use of electric vehicles in the United States, it is anticipated that automotive sales will grow in the country, which will drive demand for vibration sensors.
- According to the forecast, Europe will experience the fastest growth rate for the vibration sensor market.
Global Vibration Sensor Market: Key Players
Some of the key market players in the global vibration sensor market are Baker Hughes Company, Dytran Instruments, Inc., Emerson Electric Co, Honeywell International Inc. National Instruments Corp., NXP Semiconductors, Omron Corp., PCB Piezotronics, Inc., Robert Bosch, Rockwell Automation Inc., TE Connectivity, Wilcoxon Sensing Technologies.
- In January 2023, NSXe Co. Ltd introduced the Wi-Fi vibration sensor that detects bearing damage at a low cost. Various machines, including reduction gears, bearings, and other components, are likely to be using the sensor extensively.
- In November 2022, SICK announced the launch of a new sensor MPB10 Multi-Physics Box condition monitoring sensor, an innovative bolt-on device for delivering continuous, real-time information from a wide range of industrial equipment, even in the harshest industrial environments. This includes electric motors, pumps, fans, and conveyors.
Key Points from TOC:
1. Preface
1.1. Market Introduction
1.2. Market and Segment Definition
1.3. Market Taxonomy
1.4. Research Methodology
1.5. Assumption and Acronyms
2. Executive Summary
2.1. Global Vibration Sensor Market Overview
2.2. Regional Outline
2.3. Industry Outline
2.4. Market Dynamics Snapshot
2.5. Competition Blueprint
3. Market Dynamics
3.1. Macro-economic Factors
3.2. Drivers
3.3. Restraints
3.4. Opportunities
3.5. Key Trends
3.6. Regulatory Framework
4. Associated Industry and Key Indicator Assessment
4.1. Parent Industry Overview – Global Sensors Industry Overview
4.2. Supply Chain Analysis
4.3. Pricing Analysis
4.4. Industrial Roadmap Analysis
4.5. Industry SWOT Analysis
4.6. Porter Five Forces Analysis
4.7. Covid-19 Impact and Recovery Analysis
TOC Continued……
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Global Ship Repair and Maintenance Services Market: Segmentation
Type
- Accelerometers
- Piezoelectric
- Piezoresistive
- Capacitive MEMS
- Proximity Probes
- Laser Displacement Sensors
- Velocity Sensors
- Others (Strain Gauge, Eddy Current, etc.)
Material
- Piezoelectric Ceramics
- Quartz
Measuring Range
- Upto 5g
- 5g-20g
- Above 20g
End-use Industry
- Oil and Gas
- Aerospace and Defense
- Automotive and Transportation
- Semiconductors and Electronics
- Process industry
- Healthcare
- Others (Chemicals, Energy, Utility, etc)
Regions
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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