US Vibration Sensors Market Size

US Vibration Sensors Market Analysis

The United States Vibration Sensors market is expected to register a CAGR of 6.9 % during the forecast period (2021-2026). Housing prominent automakers (over 13 major auto manufacturers) and vendors offering vibration sensors in the region are expected to emerge as sources for innovation and are expected to hold a prominent market share.With changing dynamics in the automotive industry, manufacturers are moving toward electric vehicle production to meet next-generation consumers' needs.

• There is an increased use of electric vehicles in the United States, with an estimated 1% of automotive sales in the US market. This is set to significantly augment the demand for MEMS sensors designed for automotive applications.
• Moreover, companies in the region are also growing due to high demand from the oil and gas sector within and outside the United States. The largest global producers of oil are the United States, Russia, and Saudi Arabia. The leading companies in the market focus on providing an overall solution to these high-growth markets such as these. According to Baker Hughes, the number of oil and gas wells to be drilled in the United States is expected to reach a count of 22,600 by 2022.
• According to Environment Impact Assessment, most US oil and natural gas production comes from wells that provide between 100 barrels of oil equivalent per day (BOE/d) and 3,200 BOE/d. This will have an impact on oil prices. Therefore the industry is leveraging technology to automate processes and for optimal maintenance of heavy machinery. This is further expected to enhance the growth prospects for vibration sensors.
• However, The spread of COVID-19 has disrupted global financial and commodity markets and the US oil and gas industry, now showing a decrease in energy demand. In an industry used to the highs and lows of economic and commodity price cycles, the year 2020 poses great challenges to oil and gas companies, and there might be a financial cut in terms of investments in technology and thus vibration sensors.
• In order to cater to the rapidly increasing demand, the major players are trying to maintain their dominance through strategic partnerships, mergers, acquisitions, and product innovations.
• For instance, in June 2020, Apple Inc. previewed watchOS 7, delivering enhanced customization tools and robust health and fitness features to one of the most advanced smartwatches. By detecting micro-movements from the device's accelerometer, that signals respiration during sleep. The watch intelligently captures when the user is sleeping and the sleeping time for every night. The user will see a visualization of their previous night's sleep, including periods of wake and sleep in the morning. It will also show a chart of their weekly sleep trend.