The most recent study conducted by Report Ocean, titled “Global Shock Sensors Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Shock Sensors. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Shock Sensors Market is valued approximately USD 799.03 million in 2020 and is anticipated to grow with a healthy growth rate of more than 17% over the forecast period 2021-2027. Shock sensors are the type of sensors which detect vibration or impact applied externally on them and produce an electrical signal. These electric signals can be used to produce any action such as raising alarms, sending message to server etc. These sensors are widely used in automotive, electronics, heavy machinery and other industries. The growing usage in electronics and automobile industries, rapid growth of end-use industries like Retail and Defence and everyday use in residential as well as government projects are some of the factors driving the sales of Shock Sensors.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
With automobile sector rising, by heading towards electric mobility with year-on-year steady growth, it is expected that the sales of shock sensors will be significantly affected by growth of EV automobile industry. According to International Labor organization, global EV sales exceeded 5.1 million units in, increasing by 2 million units from 2017, while in Europe and the United States, sales increased by 385,000 and 361,000 EVs, respectively in 2017-18. At the same time in 2018, China retailed nearly 1.1 million EVs and had 2.3 million active electronic vehicles, making it the largest EV market in the world. The design and deployment challenges for harsh, rigid or fragile environments may act as a restraint for its growth, but increasing innovation in shock sensors arena, with the companies introducing them as “Product as a service”, will act as an opportunity for it in the next decade.
The regional analysis of global Shock Sensors Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Due to high demand in various end-use sectors like automobile, aerospace and electronics, North America is the significant region across the world in terms of market share. But, Asia-Pacific is also anticipated to exhibit highest growth rate for the next decade owing to the growing population and income in the region and thus growing needs for electronics, automobiles, smart home equipment and retail logistics.
Major market player included in this report are:
TE Connectivity
PCB Piezotronics
Honeywell International Inc.
Dytran Instruments, Inc.
Murata Manufacturing
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Mobitron AB
Meggitt SA
SpotSee
IMI Sensors
SignalQuest, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Piezoelectric
Piezoresistive
Strain Gage
Others
By Material:
Tourmaline
Quartz
Salts
By Market:
Automotive
Aerospace
Industrial
Consumer Electronics
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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