The APAC Vibration Sensors Market is expected to register a CAGR of 10.8% during the forecast period.
Key Highlights
- There is a rapid improvement in sensors in the airline industry where turbulence can be reduced. Customization in the vibration sensors market is growing with respect to size, load capacity, and frequency range.
- Designed to pinpoint engine problems and eliminate unnecessary engine removals quickly, the sensing capabilities with respect to sensors and their usage reduce with their end-user applications. The response time in analyzing vibrations cannot be detected due to the heavy signal load. The Asia Pacific region was able to sustain its economy during the financial crisis.
- The innovations and developments in technology led to better functioning and improved the productivity of machines. Thus, machine condition monitoring plays an important role in improving the machine's performance.
- Although the demand for vibration sensors has been on the rise for the last few years, compatibility concerns, especially in the case of old equipment, have been identified as major challenges affecting the market.
- With the increasing energy demand, there is an increasing need for energy efficiency, which can only be obtained from the optimal maintenance of the electricity supply machinery.
- Owing to the recent COVID-19 outbreak, the global supply chain and demand for multiple products have experienced disruption. Moreover, due to the production shutdown in China, multiple industries have observed a shortage of supply of various products during February and March 2020. Vendors in the market are, however, trying to provide services to industries, which is helping them in getting revenues.
APAC Vibration Sensors Market Trends
Aerospace & Defense End User to Hold Significant Share
- An increase in situational awareness to drive operations, cost-effective maintenance, and increase in asset utilization are some of the key factors driving the demand for aircraft health monitoring systems.
- The passenger traffic in Europe and other major aviation markets, such as the United Kingdom and Germany, have witnessed growth in terms of the number of passengers and aircraft movements, which is expected to drive the market during the forecast period.
- Turbine engine failures are the primary cause of mechanical failures, which is increasing the costs; hence, users are increasingly turning to prognostic health management (PHM) systems to prevent these losses and to reduce maintenance costs. As vibration is the most common health monitoring parameter in the aerospace engine industry, the development of PHM systems is likely to have a direct impact on the growth of vibration sensors.
Consumer Electronics to Show Significant Growth
- The rise in preference toward using smart electronic devices, growing middle-class, rising disposable income of consumers, and changing lifestyle preferences are some of the major factors driving the demand for consumer electronics, which has an indirect impact on the growth of vibration sensors.
- These sensors are used in consumer electronics for vibration detection to reduce noise and maintenance. When a PC Notebook falls, vibration and shock sensors are used to protect the data of HDDs.
- The sensors are used to detect changes in orientation and screen rotation and detect motion in three directions. The application of vibration sensors in consumer electronics is increasing as the sensors are used to calibrate the position, motion, and acceleration, with which the orientation of the phone and the changes in the screen rotation, images, and various features can be known for user purposes.
- For instance, in June 2021, Fluke Reliability, an operating company of Fluke Corporation, is proud to announce its newest product, the Fluke 3563 Analysis Vibration Sensor system. Vibration monitoring helps maintenance teams reduce unplanned downtime and prevent potentially catastrophic failures from occurring, but it has been difficult or cost-prohibitive to monitor every tier of an asset.
APAC Vibration Sensors Industry Overview
The Asia Pacific vibration sensor market is highly fragmented. The presence of global sensor manufacturers with established brand identities in the market is expected to have a profound influence on the intensity of competitive rivalry, as new entrants face challenges in reaching out to consumers. Brand identity plays a strong role in determining buyer behavior. Therefore, well-known companies have a considerable advantage over other players in the market. Some of the key players are Texas Instruments, Honeywell, and Emerson.
- June 2020 - National Instruments Corporations unveiled an updated brand identity, including a new logo, visual identity, enhanced digital experiences, and a brand campaign. Now known simply as NI, it is modernizing the test and measurement industry by coupling its rich software heritage with new cloud and machine learning capabilities.
- 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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