SPHERICAL INSIGHTS LLP
The market size of Vibration Sensors was valued at USD 3 billion in 2021, and the worldwide market size of Vibration Sensors is projected to reach 5 billion USD by 2030, according to a research report released by Spherical Insights & Consulting. Companies covered: ASC GmbH, TE Connectivity Ltd., National Instruments Corporation, Robert Bosch GmbH, Hansford Sensors Ltd., Honeywell International Inc. and other major suppliers.
New York, U.S., Feb. 20, 2023 (GLOBE NEWSWIRE) — The Global market size of vibration sensors grow from $3 billion in 2021 to $5 billion by 2030, at a compound annual growth rate (CAGR) of 7% during the forecast period. Longer shelf life and self-production capabilities are major factors fueling the expansion of the industry. North America has the largest market share of approximately 37% in the global vibration sensor market.
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Vibration transducers, also known as vibration sensors, are devices that translate the mechanical motion of an object into an electrically equivalent output. These sensors are used in spinning machines to measure the degree of vibration. Vibration sensors are used to find problems in various parts of the machine. A vibration sensor is employed in the safety improvement process as it can identify frequencies that can be harmful to both the equipment and the people using it. It is also used to improve the accuracy of machines. Three characteristics distinguish vibration sensors from other types of sensors: natural frequency, damping coefficient, and scaling factor. The natural frequency and damping coefficient of a vibration sensor are the two factors that together determine the level of accuracy the sensor is capable of. There are several advantages and disadvantages of vibration. In order to take preventive action before a potentially tragic situation occurs, it is used to identify potential disasters. However, as it could damage equipment, this vibration must be strictly avoided in commercial and industrial sectors. Also, when there are too many injuries, people are put in danger. The main drivers for expansion into the global vibration sensor market are expected to be self-generation and longer lifetime qualities combined with a broad frequency range. Due to the many benefits it provides, predictive maintenance is becoming increasingly popular across the industry globally. It is often used, particularly in industries that rely heavily on capital expenditures, including the oil and gas and automotive industries. To monitor the health of machinery and equipment, predictive maintenance includes a wide range of methods and strategies. This allows wear and other types of failures to be detected at an early stage.
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Browse 57 market data tables and 67 figures spread across 205 pages and in-depth summaries at “Global market size of vibration sensorsCOVID-19 impact sharing and analysis, by type (accelerometers, electrodynamics), by application (automotive, aerospace), by technology (piezoresistive, variable capacitance), by region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecasts 2021 – 2030”.
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Accelerometers hold the highest market share during the forecast period.
Based on the type, the global Vibration Sensors market is segmented into accelerometers, electrodynamics, velocity transducer, non-contact displacement transducer. In this category, the accelerometer segment is expected to hold the largest market share. The growing use of accelerometers for collecting vibration monitoring data could be responsible for the expansion of this market sector. The vast majority of sensors used in vibration monitoring applications are piezoelectric accelerometers. Extremely low frequencies and extremely high frequencies are both applicable to their use. These accelerometers are also available in a variety of configurations that can be specifically tailored for a particular use.
Automotive segment to witness the highest growth with a significant CAGR.
Based on the application, the global vibration sensor market is segmented into automotive, aerospace, oil and gas, medical and pharmaceutical, others. The automotive category would see the highest growth rate of these with considerable CAGR during the forecast period. The global automotive industry is focused on the automation and modernization of assembly lines; therefore, vibration sensors and engine monitoring systems are required. Equipment can survive longer and break down less frequently with the use of motor current signature analysis. The number of vehicles produced each day is a key indication of the growth of the automotive industry. Routine maintenance must be performed on the equipment present in the factory in order to shorten the production cycle and increase productivity.
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Piezoresistive segment to dominate the market with a market share of 24%.
Based on the technology, the global vibration sensor market is segmented into piezoresistive, variable capacitance. With an overall market share of 24%, the piezoresistive sector will be the market leader among them. Compared to other types of vibration sensors, piezoresistive sensors have a set sensitivity and require less expensive circuitry and wiring. Piezoresistive accelerometers are widely used in automotive safety applications such as anti-lock brake systems, airbags and traction control systems. Also, compared to variable capacitance and optical sensors, piezoresistive accelerometers are more effective at measuring both static and dynamic accelerations.
North America has emerged as the biggest market for the global Vibration Sensors market in 2021.
North America has the largest market share of approximately 37% in the global vibration sensor market. The growing use of vibration sensors by the well-established automotive industry in the region is indicative of this. The area is home to some of the largest rail networks in the world, as well as companies such as the Canadian National Railway, the Kansas City Southern Railway and the Norfolk Southern Railway. The market is growing as a result of the demand for products in areas such as railway resource management. The demand for products for consumer electronics applications is also expected to increase to encourage regional market expansion. The market in the Asia-Pacific region is estimated to expand at the fastest pace over the projected time frame.
Competitive Analysis:
The report offers the appropriate analysis of key organizations/companies involved in the global market along with a benchmarking based primarily on their product offerings, business overviews, geographic presence, business strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focused on current company news and developments, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and more. This allows for the assessment of the overall competition within the market. Major vendors in the vibration sensor market: ASC GmbH, TE Connectivity Ltd., National Instruments Corporation, Robert Bosch GmbH, Hansford Sensors Ltd., Honeywell International Inc. and others.
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