Vibration Sensor Market 2022 Growth, Cost Analysis and Forecast till 2030

Description
The global vibration sensor market was valued at USD 4,081.1 million in 2020 to USD 6,682.9 million by 2027, at a CAGR of 7.3% from 2021 to 2027. In an increasingly competitive industrial market, new features are required to produce more smart machines. Monitoring a machine's condition has become a fundamental need, which is expected to boost demand for vibration sensors over the forecast period. There is an increasing need for high-performing operational products due to the growing significance of industrial hubs worldwide. This has increased the demand for vibration sensors, as they are an integral part of defining the product's efficiency.

Monitoring and analyzing machines or other critical equipment in various industrial sectors have become crucial for the predictive maintenance program. Typical applications demand vibration measurements in the horizontal, vertical, and axial direction on both the inboard and outboard motor bearings. In the industrial sector, vibration levels captured from these sensors can analyze the machinery's state. If corrections are needed, sensors can give remedial procedures that need to be performed.

Further, companies focus on deploying technologies that identify when, why, and how assets will fail. Companies also focus on quickly identifying and prioritizing common mechanical issues such as bearing defects, gear wear, under lubrication, and pump cavitation, enabling them to focus more on operations-critical tasks. With the increasing energy demand, there is a growing need for energy efficiency, which can only be obtained from the electricity supply machinery's optimal maintenance. Ensuring that all equipment is functioning optimally remains an essential priority for manufacturers, many of whom turn to predictive maintenance, enabling technology and solutions on their production floor.

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Global Vibration Sensor Market Dynamics
Drivers: Increasing Need for Machine Condition Monitoring and Maintenance
The advent of various approaches in diagnosing machinery and bearings health has revolutionized machine maintenance activities globally. With the focus on low-cost mass production, the current maintenance professionals turn toward condition monitoring to succeed in this intensely competitive environment. Globally, environmental regulations on emissions are increasing. The rules often require control and continuous measurement of pollutant gases, dust, and other toxic materials. It is necessary to secure the availability of data needed by environmental regulatory agencies to ensure continual operations. Else, fines and penalties up to and including plant shutdown could occur.

Stimulated by its success in a wide range of applications, right from turbine protection to monitoring bearings in paper-making machines, monitoring techniques enhance products' characteristics with a clear eye toward the future and compete in the global arena. The increasing utilization of wireless communication technology and HVAC systems' growth are significant factors influencing the market. The expanding awareness among organizations has led to increased adoption of condition monitoring techniques for optimizing asset health, which has also driven the market's growth.

Restraints: Volatility in Demand
The major limitation in the market is the fluctuating demand from end-user verticals. The demand is not fixed among the end-user sector that acts as a challenge for its manufacturing plans. The rejection rate in manufacturing facilities is either due to damage or low sensitivity, reducing overall production capacity. Additionally, rapidly changing requirements across the automotive, medical, and aerospace sectors create the need for more precise measurement. For instance, ensuring the end product's quality is always the top priority in the automotive and healthcare industries. Hence strict standards are specified for this purpose. Especially if many individual components are assembled to form one product, the suppliers must test each component, which is the only way to guarantee the end product's quality. In many such cases, the only solution is to integrate monitoring systems into the production process. Moreover, demanding industries such as aerospace and aviation are operating in highly challenging and expensive environments.

Scope of the Report
The study categorizes the vibration sensor market based on product, monitoring process, technology, material, end user, and regions.

By Product Outlook (Revenue, 2017-2027, USD Million)
Accelerometers
Velocity Sensors
Non-contact Displacement Transducers
Others
By Monitoring Process Outlook (Revenue, 2017-2027, USD Million)
Online Vibration Monitoring
Portable Vibration Monitoring
By Technology Outlook (Revenue, 2017-2027, USD Million)
Piezoresistive
Strain Gauge
Variable Capacitance
Hand Probe
Optical Sensor
Tri-axial Sensors
Others
By Material Outlook (Revenue, 2017-2027, USD Million)
Doped Silicon
Piezoelectric Ceramics
Quartz
By End User Outlook (Revenue, 2017-2027, USD Million)
Automotive
Healthcare
Aerospace and Defence
Consumer Electronics
Oil and Gas
Others
By Region Outlook (Revenue, 2017-2027, USD Million)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
Non-contact displacement transducers are estimated to be the fastest-growing segment during the forecast period
Based on the product, the global vibration sensor market has been segmented into accelerometers, velocity sensors, non-contact displacement transducers, and other products. Non-contact displacement transducers accounted for the fastest-growing segment with a CAGR of 8.5% in the global vibration sensor market forecast for 2021-2027.

Displacement Sensors or Proximity Sensors, also known as non-contact displacement sensors, measures shaft position or movement (vibration) without physical contact to determine the internal movement and clearance on bearings. This type of sensor measures a frequency range of 1 to 1500 Hz and low amplitudes, typical for sleeve bearing applications. A non-contact proximity sensor consists of three parts: a probe, an extension cable, and a driver, which jointly create a tuned oscillation frequency, which is disturbed by the metal surface of the target. Displacement sensors convert the movement or vibration into electromagnetic, electrostatic, or magnetoelectric signals that can be read and converted into data and a readable format.

Asia Pacific accounts for the highest CAGR during the forecast period in the vibration sensor market
Based on region, the global vibration sensor market has been segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific accounts for the highest growth rate of 7.8% in the global vibration sensors market during the forecast period. The Asia-Pacific vibration sensor market is analyzed across Japan, China, India, Australia, and the rest of Asia Pacific. These countries offer lucrative opportunities for players operating in the vibration sensor market. In the Asia Pacific region, Japan is the fastest growing country with a CAGR of 8.3% during the forecast period 2021-2027.

Japan is the primary manufacturer of components to the consumer electronics market. Therefore, the area is home to many vendors from the industry, such as Samsung Electronics, Sony, Canon, Toshiba, Panasonic, Hitachi, Nikon, and Casio. This creates a demand for vibration sensors in manufacturing asset maintenance for end products, such as laptops and smartphones. Moreover, the region is making efforts toward boosting its flexibility with the national petroleum reserves by introducing a strategic space that will allow the country to efficiently procure crude oil in line with the refining sector's requirement for lighter grades.

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Key Market Players
The global vibration sensor market is fragmented into a few significant players, and other local, small, and mid-sized manufacturers include Rockwell Automation Inc., TE Connectivity Ltd, SKF GmbH, National Instruments Corporation, NXP Semiconductors NV, Texas Instruments Incorporated, Honeywell International Inc., Analog Devices Inc., Emerson Electric Corp., Hansford Sensors Ltd, and Bosch Sensortec GmbH.

Recent Developments
In March 2020, SKF announced a compact vibration and temperature sensor that automatically monitors rotating parts' condition on heavy industrial machinery. The SKF Enlight Collect IMx-1 sensor will allow users to cut both unplanned downtime and maintenance costs. They will also be able to collect data more frequently over hours and days instead of weeks and months from locations that were previously inaccessible, using fewer technicians.
In June 2020, National Instruments unveiled an updated brand identity, including a new logo, visual identity, enhanced digital experiences, and a brand campaign. Now known simply as NI, it modernizes the test and measurement industry by coupling its rich software heritage with new cloud and machine learning capabilities.
In April 2020, Emerson acquired the leading hydroelectric turbine controls company, American Governor Company. The addition of the American Governor Company builds on Emerson's technology capabilities and expertise in the renewable and power industry.

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In March 2020, TE Connectivity Ltd completed its public takeover of First Sensor AG. TE now holds 71.87% shares of First Sensor. In combination with First Sensor and TE portfolios, TE will be able to offer a broader product base, including innovative sensors, connectors, and systems, that supports the growth strategy of TE's sensors business and TE Connectivity as a whole.
Key Issues Addressed
What is the market size by various segmentation of the vibration sensor by region and its respective countries?
What are the customer buying behavior, key takeaways, and Porter's 5 forces of the vibration sensor market?
What are the key opportunities and trends for manufacturers involved in the vibration sensor supply chain?
What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
What and how are regulations, schemes, patents, and policies impacting the growth of the market?
What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
The market player positioning, top winning strategies by years, company product developments, and launches will be?
How has COVID-19 impacted the demand and sales of vibration sensors in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.
What is the size of the global vibration sensor market?The global vibration sensor market was valued at USD 4081 million in 2020 to USD 6682.89 million by 2027.What is the vibration sensor market growth rate?The global vibration sensor market was estimated to grow at a CAGR of 7.3% from 2021 to 2027.Which end user segment dominated the global vibration sensor market?Based on the end user verticals, the global vibration sensor market has been segmented into automotive, healthcare, aerospace and defence, consumer electronics, oil and gas, and other end-user verticals. In 2020,

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Automotive accounted for the largest market share of 25.27% in the global vibration sensor market and having a CAGR of 5.4% during the forecast period.Who are the key players in the vibration sensor market?Some of the major companies that operate in the global vibration sensor market are Rockwell Automation Inc., TE Connectivity Ltd, SKF GmbH, National Instruments Corporation, NXP Semiconductors NV, Texas Instruments Incorporated, Honeywell International Inc., Analog Devices Inc., Emerson Electric Corp., Hansford Sensors Ltd, and Bosch Sensortec GmbH.What are the factors driving the vibration sensor market?Key factors that are driving the vibration sensor market growth include increasing need for machine condition monitoring and maintenance, growing adoption of smart manufacturing and industrial iot, and growing need for energy efficiency vibration sensor will increase the demand for vibration sensor during the forecast period.

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