The Worldwide Acoustic Wave Sensor Industry is Expected to Reach $2.4 Billion by 2026

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Apr 22, 2022, 07:30 ET

DUBLIN, April 22, 2022 /PRNewswire/ -- The "Acoustic Wave Sensor Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global acoustic wave sensor market is projected to grow at a CAGR of 16.26% to reach US$2,400.540 million by 2026, from US$836.174 million in 2019.

Acoustic waves are mechanical and longitudinal waves that result from an oscillation of pressure that travels through a solid, liquid, or gas in a wave pattern. They are a category of longitudinal waves that propagate by the means of compression and decompression through a medium (usually air). These waves travel at the speed of sound and the vibrations in these waves occur in the direction in which the wave travels.

These waves show different wave characteristics like diffraction, interference, reflection, etc., except polarization. Polarization is not possible in these waves because the vibrations are only in the direction in which the wave travels. The devices used to measure these acoustic waves are known as Acoustic wave sensors.

Driving Factors

The growing use of acoustic wave sensors in various sectors of the industry and the development in acoustic wave sensors technology will drive its growth in the forecast period. The growing demand for acoustic wave sensor-based surface acoustic wave sensors from the automotive industry owing to its various application such as tire pressure monitoring systems, electronic power steering, oil conditioning monitoring, and combustion engine monitoring.

The sensors also include the overall identification of moving objects and parts, which also contains the wireless measuring of pressure and temperature of various automobiles tires. These sensor systems are also able to work in harsh environments and can withstand high temperatures.

Owing to their characteristics such as less weight and smaller size, wireless access, economical, less power supply operation, greater reliability, eco-friendly construction, and low-cost volume manufacturing using standardized processes, these sensors are a favorable choice in the automotive industry. With the increasing demand and sales of automobiles in various regions around the world, the global acoustic market is expected to grow during the forecast period.

Growth Factors

Low manufacturing cost and wireless operation

One of the major reasons for the growth of this industry is the lower manufacturing cost and its wireless operation which lead to a lot of new entrants entering this industrial production which overall increases the market growth of this industry. Also, wireless operation enhances the portability of this device and can be used on a larger scale.

Restraints

Problems in energy consumption, size, and sensitivity

The acoustic wave sensor-based gas sensors have a growing demand but at the same time, they face certain issues such as high energy consumption, higher sensitivity to environmental factors, and the size of the sensor, which play a huge part in portability.

Impact of COVID-19 on the acoustic wave sensor market

The COVID-19 pandemic has had a great impact on the world as a whole and has led to economic breakdown and loss of life. The impact of COVID-19 on the global acoustic wave sensor market has been negative as due to the lockdown and travel and trade restrictions imposed by the governments, worldwide the manufacturing unit was forced to be shut due to which the production of acoustic wave sensors saw a sharp decline.

The pandemic has disrupted the supply chain and decreased sales of acoustic wave sensors accounting for a negative impact on the industry. Furthermore, the end-user industries were forced to limit their production capacity, which impacted the demand for these sensors which overall impacted this industry. Also, these sensors are a vital element in the automotive industry, due to the pandemic the automotive industry was hugely hit leading to the impact on the acoustic wave sensor market.

Key Topics Covered:

1. INTRODUCTION

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5. GLOBAL ACOUSTIC WAVE SENSOR MARKET, BY PROPAGATION
5.1. Introduction
5.2. Bulk Acoustic Wave Sensors
5.2.1. Shear-horizontal Acoustic plate mode sensors
5.2.2. Thickness shear mode resonators
5.3. Surface Acoustic Wave Sensor
5.3.1. Shear-horizontal surface Acoustic Wave Sensors
5.3.2. Rayleigh Surface Wave Sensors

6. GLOBAL ACOUSTIC WAVE SENSOR MARKET, BY INDUSTRY VERTICAL
6.1. Introduction
6.2. Industry
6.3. Military
6.4. Automobile
6.5. Food and Beverages
6.6. Healthcare
6.7. Others

7. GLOBAL ACOUSTIC WAVE SENSOR MARKET, BY GEOGRAPHY
7.1. Introduction
7.2. North America
7.2.1. United States
7.2.2. Canada
7.2.3. Mexico
7.3. South America
7.3.1. Brazil
7.3.2. Argentina
7.3.3. Others
7.4. Europe
7.4.1. Germany
7.4.2. France
7.4.3. United Kingdom
7.4.4. Spain
7.4.5. Others
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. UAE
7.5.3. Israel
7.5.4. Others
7.6. Asia Pacific
7.6.1. China
7.6.2. India
7.6.3. South Korea
7.6.4. Taiwan
7.6.5. Thailand
7.6.6. Indonesia
7.6.7. Japan
7.6.8. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES
9.1. Hawk Measurement Systems
9.2. NanoTemper technologies GmbH
9.3. Pro-micron GmbH
9.4. Siemens
9.5. Transense
9.6. AD Metro Inc.

For more information about this report visit https://www.researchandmarkets.com/r/mxmnu4