Tilt Sensor Market is expected to reach US$ 402.94 Million by 2028

Upsurge in demand for construction equipment to Provide Growth Opportunities for Tilt Sensor Market During 2021–2028

According to our latest market study on “Tilt Sensor Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, Technology, and Industry,” the market is projected to reach US$ 402.94 million by 2028 from US$ 268.72 million in 2021; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028.

The global tilt sensor market is segmented into five major regions— North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America. In 2020, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe. The demand for construction equipment was aided by a growing focus on infrastructure and automation use in building and manufacturing processes. The road construction machinery market has seen substantial expansion in recent years due to increased road development initiatives implemented by the central and state governments, particularly in Asia-Pacific. Construction equipment producers prefer electric and hybrid vehicles over traditional hydraulic and mechanical vehicles because of advantages such as cost-effective machines and regulatory pressures to reduce emissions. Due to the high cost of construction equipment and the difficulty of maintaining it, renting or leasing it has become more popular. Rental firms offer the equipment, requisite experienced machine operators, and drivers. The construction sector is becoming sophisticated. Digitalization, connectivity, and automation are propelling the real estate industry forward, with significant implications for construction projects.

Rental companies are likely to invest in new technologies and replace outdated machinery fleets with new or upgraded ones to meet the rising demand for innovative construction machinery. The decline in cross-border investments is due to the global economic slowdown. However, the real estate industry and government investments in architecture are fueling the growth of the construction industry, which is driving the demand for construction equipment and precision sensors, such as tilt sensors, in the industry.

The tilt sensor market in Asia Pacific is subsegmented into India, Japan, Australia, China, South Korea, and the Rest of Asia Pacific. The rising national GDP per capita in developing countries, such as India and China, leads to a large consumer base for high-tech consumer electronics such as smartphones, smart wearables, portable computers, and washing machines. China is a leading manufacturer of tilt sensors, while South Korea, Taiwan, and Japan are among the major contributors to the regional market growth. Many Asia Pacific countries are characterized by the mass production of electronic devices, automotive components, telecommunication devices, and other industrial machinery. The increasing number of electronics manufacturing companies in India and China due to the availability of skilled workers is driving the tilt sensor market growth. Asia Pacific is the biggest consumer of smartphones. Industrial automation in the Asia Pacific is not yet at par, unlike that in North America and Europe. However, from the last few years, manufacturers from various verticals are preferring the implementation of the industrial internet of things (IIoT) solutions. Automotive and healthcare manufacturers are key adopters of industrial automation.

The global tilt sensor market is segmented on the basis of material, technology, and industry. The market, based on material, is bifurcated into metal and non-metal. Based on technology, the market is segmented into force balance, MEMS, and fluid-filled. Based on industry, the market is segmented into mining & construction, consumer electronics, industrial, automotive, aerospace, and others.

By region, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, Iran, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).

Impact of COVID-19 Pandemic on Tilt Sensor Market in Asia Pacific

The COVID-19 outbreak resulted in a massive financial loss in APAC. Governments in Asia Pacific countries have taken several crucial steps to contain the spread of the novel coronavirus by imposing lockdown and physical distancing norms, which has negatively affected the manufacturing sector. China has a significantly large number of electronics and semiconductor manufacturing industries, such as sensor system manufacturers, with numerous manufacturers operating and supporting several industries across the globe. China accounts for a significantly higher number of sensor system manufacturers. The lockdown measures and physical distancing norms imposed by the Chinese government during Q1 of 2020 have reflected a huge fall in the supply of sensor systems, which ultimately resulted in decimation of revenue generation in the tilt sensor market.

Japan and India are the other two countries that have a large number of electronics and semiconductor manufacturers and end-users. These two countries have also registered a higher number of COVID-19 cases and are still continuing the battle against the spread.

Automation Sensorik Messtechnik GmbH; elobau GmbH & Co. KG.; MEMSIC Semiconductor (Tianjin) Co., Ltd.; Positek; Welan Technologies Pvt Ltd.; Sensata Technologies, Inc.; Geosense; Parker Hannifin Corporation; Shanghai Zhichuan Electronic Tech CO., LTD. , Ltd; and TE Connectivity Corporation are among the major companies operating in the tilt sensor market.

Tilt Sensor Market - by Region, 2020 and 2028 (%)

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Tilt Sensors Market Growth Report by 2031

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Tilt Sensors Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Material (Metal and Non-Metal), Technology (Force Balance, MEMS, and Fluid Filled), and Industry (Mining & Construction, Consumer Electronics, Industrial, Automotive, Aerospace, and Others) and Geography