According to their latest market research report, Technavio analysts forecast the global industrial inclination sensors market to grow at a CAGR over 8% during a forecast period from 2018 to 2022. New safety regulations pertaining to inclination sensors and MEWPs is one of the major trends being witnessed in the global industrial inclination sensors market.
A MEWP is a vehicle that lifts a person to a specified position. Bucket lifts, scissor lifts, boom lifts, and vehicle-mounted boom buckets are considered as MEWPs. In 2017, the SAIA released the ANSI A92.20/22/24, which is the North American standard for MEWPs and tilt sensors.
- A key factor contributing to the growth of the global industrial inclination sensors market is the falling price of industrial sensors. The increase in the adoption of inclination sensors in the industrial sector is primarily driven by the need to reduce the cost.
- Of the four major end-users, the mining and construction industry segment held the largest market share in 2017, contributing to over 29% of the market. This end-user segment is anticipated to dominate the global market throughout the forecast period.
- APAC held the largest share of the market in 2017, accounting for over 37% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the global market through the period 2018-2022.
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