Inclinometers Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2031)

By Type :

Based on the type, the market is bifurcated into single-axis inclinometer and multi-axis inclinometer. The multi-axis inclinometer segment accounted for the largest revenue share in the year 2022. The multi-axis inclinometers are capable of measuring the angular changes in both X-axis and the Y-axis. Multi-axis inclinometers consist of two or more sensing elements placed at a 90-degree angle to each other. Each of the sensing elements has an output deduced by its tilt angle from the vertical about an axis. Moreover, multi-axis inclinometers offer several benefits including high accuracy, faster response time, and high level of precision among others. The above benefits of multi-axis inclinometers are primary determinants for increasing its utilization in construction, automotive, marine, robotics, and other sectors.

For instance, Murata Manufacturing Co. Ltd. introduced 3-axis inclinometers integrated with a tilt angle output and digital SPI interface in November 2018. The multi-axis inclinometers are optimized for demanding applications including tilt sensing, machine control, levelling, and structural health monitoring in construction and other industrial sectors. Hence, the rising innovations associated with multi-axis inclinometers are driving the growth of the market.

The single-axis inclinometers segment is anticipated to register the fastest CAGR growth during the forecast period. Single-axis inclinometers are designed for measuring angular changes around one axis only. The measurement principle of single-axis inclinometers is based on Newton's second law that utilizes the principle of inertia for measuring the acceleration of an object. Additionally, single-axis inclinometers are used in construction, power generation, and other industries.

For instance, The Fredericks Company introduced a single-axis inclinometer, ApexOne in its product portfolio. The single-axis inclinometer is designed for industrial position and angle measurement applications for utilization in construction, power generation, and other industries. Therefore, the increasing development of single-axis inclinometers for industrial applications is among the vital factors expected to drive the growth of the market during the forecast period.

By End-User :

Based on the end-user, the market is segregated into construction, automotive, marine, robotics, and others. The construction segment accounted for the largest revenue share of 32.5% in the year 2022. Factors including the rising building and construction activities and increasing investments in infrastructure development are driving the growth of the construction segment.

For instance, STMicroelectronics offers multi-axis inclinometer IIS2ICLX in its product portfolio that is primarily designed for utilization in construction sector for structural health monitoring application among others.

Additionally, according to the Building and Construction Authority of Singapore, the overall construction demand in Singapore is estimated to reach between USD 27 billion to USD 32 billion by the end of 2023, representing a substantial growth as compared to 2020. Therefore, the growing construction sector is driving the adoption of inclinometers for inclination measurement and monitoring of building structure, in turn driving the growth of the market.

Automotive segment is expected to witness fastest CAGR growth during the forecast period. The growth of automotive segment is driven by multiple factors including increasing automobile production, rising investments in expansion of automotive production facilities, and advancements in autonomous driving systems among others.

For instance, Murata Manufacturing Co. Ltd. offers SCA830 single-axis inclinometers in its product portfolio that are specifically designed for inclination measurements in automotive applications.

Additionally, according to the China Association of Automobile Manufacturers, passenger car manufacturing in China reached 14.8 million units in January-August 2022, witnessing a progression of 14.7% year-over-year. Inclinometers are used in the automotive industry, particularly for precise monitoring of vehicle angle for autonomous driving and ADAS applications to ensure safe vehicle operations. Thus, rising automotive production is projected to drive the adoption of inclinometers, in turn contributing the market growth during the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted for the largest revenue share of USD 1,087.88 Million in 2022 and is expected to reach USD 1,352.20 Million by 2031, registering a CAGR of 2.7% during the forecast period. Also, the market is projected to garner revenue of USD 1,095.52 million in the year 2023. In addition, in the region, the U.S. accounted for the maximum revenue share of 66.65% in the same year. The adoption of inclinometers in the North American region is primarily driven by its usage in construction, automotive, robotics, and other sectors. Moreover, the rising investments in building and construction projects and increasing utilization of inclinometers for inclination measurement and monitoring of building structure during construction activities are among the significant factors driving the market growth in the region.

For instance, according to Statistics Canada, investments in the building & construction sector reached USD 20.4 billion in January 2023, representing an increase of 1.5% in comparison to the previous year. Moreover, investments in the residential sector in Canada increased by 1.9% to USD 14.9 billion, while the non-residential sector increased by 0.5% to USD 5.6 billion in January 2023. Thus, the growing construction industry is driving the deployment of inclinometers, in turn fostering market growth in the North American region. Additionally, increasing investments in the field of electric vehicles and robotics are expected to facilitate lucrative growth prospects for the market in North America during the forecast period.

Asia-Pacific is expected to register fastest CAGR growth of 2.9% during the forecast period. The rising pace of industrialization and development is stimulating lucrative growth prospects for the market in the region. Additionally, factors including the growth of multiple industries such as automotive, construction, and others along with rising adoption of industrial automation are driving the market growth for inclinometers in the Asia-Pacific region.

For instance, according to the Society of Indian Automobile Manufacturers, the overall automobile production in India reached 2,59,31,867 units from April 2022 to March 2023, depicting an incline of 12.6% from 2,30,40,066 units from April 2021 to March 2022. Therefore, the growing automotive sector is anticipated to drive the utilization of inclinometers for precise monitoring of vehicle angle for autonomous driving and ADAS applications to facilitate safe vehicle operations. The above factors are projected to drive the market growth in the Asia-Pacific region during the forecast period.