Market Size of NA Vibration Sensors Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Vibration Sensors Market Analysis
The North American vibration sensor market is expected to grow at a CAGR of 7.1% during the period 2021-2026. The market is expected to witness steady growth during the forecast period.
- North America has a competitive manufacturing sector. The demand for advanced manufacturing robotic technologies is likely to help the growth of the market in the region.
- The automobile industry is another sector aiding the growth of the market. The vehicle production in the region increased significantly to more than 15 million passenger vehicles, and the country remained the second-largest global vehicle producer after China.
- Due to the increasing shale gas discoveries and replacement of aging infrastructure, the demand for vibrating sensors is high, which thereby helps in increasing the overall market in the region.
- The covdid-19 had an adverse impact on the industry as several production facilities were discontinued or stopped momentarily due to a dip in demand for Crude Oil and automobile in the region. This, in turn, decreased the demand for vibration sensors in the market.
