Published Date: 31-Oct-2019
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According to a new report Global Tilt Sensors Market, published by KBV Research, The Global Tilt Sensors Market size is expected to reach $278.6 Million by 2025, rising at a market growth of 8.7% CAGR during the forecast period.
The Construction & Mining market dominated the Global Tilt Sensors Market by Application 2018, growing at a CAGR of 7.3 % during the forecast period. The aerospace and defense segment, preceded by the telecommunications industry, is expected to record the prominent CAGR over the forecast period. In building, tilt sensors are used to measure the angle of the chassis so that heavy machines don't lose their balance and tip over. In addition, these sensors are used to calculate chassis tilt angles for elevated platforms to prevent boom movement or increasing platform height.
The Asia Pacific region holds a dominant position. The region is also projected to record the significant CAGR during the forecast period. This trend can be attributed to the gradual expansion of industries like defense, aerospace, construction, automotive, transportation, and mining. The LAMEA market is also projected to experience a significant amount of growth potential over the years to come and grows with a CAGR of 9.3%. This can be linked to the anticipated stable growth possibilities in industries and sectors like automotive, mining, agriculture, construction, and transportation that are expected to raise demand for tilt sensors. The Europe market is experiencing a growth rate of 12.7% during (2019 - 2025). Additionally, The North America market is expected to witness a CAGR of 12.2% during (2019 - 2025).
The MEMS market dominated the Global Tilt Sensors Market by Technology 2018, growing at a CAGR of 8.4 % during the forecast period. The Fluid-filled market would witness significant growth of 9.9% during (2019 - 2025). Additionally, The Force Balanced market is expected to witness highest CAGR of 11.4% during (2019 - 2025).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of The Fredericks Company, Balluff GmbH, Baumer Holding AG, Sick AG, IFM Electronics GmbH, Jewell Instruments LLC, Meggitt Plc., Murata Manufacturing Co., Ltd., TE Connectivity Ltd. and MEMSIC, Inc.
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