The tilt sensor market was valued at USD 150.8
Million in 2016 and is expected to reach USD 260.3 Million by 2023, at a
CAGR of 8.17% during the forecast period. The growth of this market is
being propelled by the growing demand for these sensors, especially from
the mining and construction, aerospace and defense, and automotive and
transportation verticals.
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The report covers the tilt sensor market on the basis
of housing material type, technology, vertical, and geography. The said
market is expected to be led by tilt sensors with nonmetal housing
material during the forecast period. The growth of this market is being
propelled by the high demand for tilt sensors with plastic housing
material.
Tilt sensor market for automotive and transportation vertical likely to grow at the highest rate during the forecast period
On the basis of vertical, the tilt sensor market for
automotive and transportation vertical is expected to witness the
highest growth rate during the forecast period. Wheel alignment systems
and automobile security systems are two of the major application areas
of tilt sensors in the automotive vertical.
The tilt sensor based on MEMS technology is expected
to witness a significant growth in this market during the forecast
period. The small size and low cost of this sensor is the major factor
leading to its high growth rate in the said market.
Asia Pacific (APAC) held the largest size of the
market 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 said market in APAC. 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 that has led to the dominant position of APAC in the overall
market. Moreover, a number of key players operating in the tilt sensor
market are based in APAC. This factor has a positive impact on the said
market in APAC.
The tilt sensors based on force balance technology
have a high accuracy level; however, these sensors are expensive than
the tilt sensors based on other technologies such as MEMS and fluid
filled. This is one of the major factors limiting the growth of the said
market.
Some of the major companies operating in the tilt
sensor market are TE Connectivity Ltd. (Switzerland), SICK AG (Germany),
Murata Manufacturing Co., Ltd. (Japan), Pepperl+Fuchs Vertrieb GmbH
& Co. KG (Germany), and Balluff GmbH (Germany).
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