Vibration Sensor Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global vibration sensor market was valued at USD 3833.9 million in 2020, and is expected to reach USD 5804.3 million by 2026, registering a CAGR of 7.3% over the forecast period (2021-2026). In an increasingly competitive industrial market, where new features are required to produce ‘smarter’ tools, monitoring the condition of various components has become a fundamental need. This is expected to boost the demand for vibration sensors over the forecast period.

• 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 since 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.

Scope of the Report

Vibration monitoring and analysis are the important quality measurement phenomenon in modern industrial infrastructure. The three parameters that represent vibration monitors are velocity, acceleration, and displacement. The selection of the sensor is proportional to velocity, displacement, or acceleration, which depend on signal levels and frequency that are involved. The scope of the study includes products Accelerometers, Velocity Sensors, Non-contact Displacement Transducers and The End User Industry like Automotive, Healthcare, Aerospace and Defence among others.

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Key Market Trends

Aerospace & Defense End User to Hold Significant Share

• 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.  

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