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U.S. Tachometer Market Size Projected to Grow at a CAGR of 4.2% During the Forecast Period 2021-2026

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U.S. Tachometer Market Size Projected to Grow at a CAGR of 4.2% During the Forecast Period 2021-2026

October 29
21:42 2021
U.S. Tachometer Market Size Projected to Grow at a CAGR of 4.2% During the Forecast Period 2021-2026
U.S Tachometer Market
Surging Demands for a Safe Speed Range of Rotation Indicator From Various End-user Industries Is the Major Driving Factor of the U.S. Tachometer Market.

The U.S. Tachometer Market size was valued at $531.2 Million in 2020, and projected to grow at a CAGR of 4.2%, during the forecast period 2021-2026. The tachometer is a small device used to measure and count the rotations on a mechanical device in a specific time period. The device has wide application in multiple end-user industries such as automobile, manufacturing, marine & aerospace, oil & gas, medical, and energy sector. The tachometer helps to understand the limit of rotation and revolutions per minute (RPM) in a mechanical device. Tachometer is not limited to conveyor, compressor, power generator, mixer, centrifuge, extruder, windmills, dryer, elevator, turbines, optical encoder, signal conditioning, magnetic sensor and motor control. Since the U.S. possesses a large portion of commercial complexes and related infrastructure, the demand for tachometer is high in the region. Additionally, the country has a huge automobile manufacturing infrastructure, which is an advantage for the regional analog tachometer market.

U.S. Tachometer Market Segment Analysis – By Application

The U.S. oil & gas industry is the largest oil production facility in the world and the country is the biggest natural gas and petroleum producer. The industry use many metering applications, and an efficient tachometer is required to streamline the metering applications in the oil and gas industry, to prevent corrosion, limit deposits, and improve the flow of fluid in transportation pipes with the help of motors. Monitoring the revolutions per minute in these motors is highly important as uncertainties in this can lead to calamities in the plant. Hence, the growth in the oil & gas sector will induce a considerate revenue in the U.S. tachometer market. Thus, all these factors are deliberately driving the growth of the U.S Tachometer market. Surging demands for a safe speed range of rotation indicator from various end-user industries is the major driving factor of the U.S. Tachometer market. This growth driver is supported by other important market forces such as fast time response, high-reliability, and compact design. These are driving the motor segment of the tachometer market at a CAGR of 4.7% through 2026.

U.S. Tachometer Market Segment Analysis – By End Users

The automobile industry is a key application in the U.S. tachometer market, and the segment is expected to grow at a CAGR of 6.5%, during the forecast period. Measuring the wheel-spin or revolution per minute of a motorized vehicle is imperative before its supply in the market. The tachometer is set on dashboard of car beside the speedometer. Either digital or analog, this meter displays the number of rotations of engine crankshaft in a specific time— generally in a minute. This meter has markings on it, driving beyond the recommended mark for too long can damage the vehicle in the form of overheating, excessive oil consumption, and inadequate lubrication. Thus, a limited wheel rotation is an important safety feature in any vehicle, therefore, a significant number of tachometers are used in the automotive factories. According to the International Trade Administration, the sales of lightweight vehicles surpassed 18 million units in 2019 and overall, the country is considered as the second-largest market for vehicle sales and production. The automotive industry is growing at a considerate pace, and with the emerging autonomous and electric vehicle market in the region, the demand of tachometers are also estimated to grow in the upcoming years that is further expected to support the U.S. tachometer market growth.

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U.S. Tachometer Market Drivers

Rising Demand for Alternative Energy Sector

Alternative energy sector is currently the fastest-growing energy sector in the world. The demand for renewable and alternative energy is surging in both developing and developed economies, owing to limited natural energy sources and increasing CO2 emission. According to the American Council on Renewable Energy, the cumulative private investment in renewable energy in the U.S. is expected to reach $500 billion during 2019-2030. Renewable energy sources such as wind energy and hydro energy use huge rotary blades mounted on a motors, and water turbines function with the help of motors, respectively. All these motors are equipped with tachometers that measure the rotation and revolutions in hardware. Hence, owing to wide application and positive business prospects in the energy sector, the U.S. market for tachometers will bolster in the near future.

Rising Safety Concerns

Escalating requirements for designating a safe limit of rotation pace is the principal driver for the tachometer market growth. Some of the key features like compressed design, unusual fidelity and quickest time to respond are a pivotal driver exacted to push the global tachometer market in terms of market adoption. Protection supervision from the administration team is also aiding in improving the level of knowledge amidst the end-users. These certain drivers can catapult the market growth potentially in the forecasted period as the need for improved safety for the rotational space results in changing demand scenario.

U.S. Tachometer Market Challenges

Potential Issues in Tachometer Functioning

Though, costly maintenance expenses such as electromagnets that can dilute in overhead conditions, or if heated, and prompt inaccurate figures accompanying the scarcity of protection and safety-related cases are a significant obstacle that is presumed to limit the swelling of the business. This is especially the case for analog tachometers where this limitation is showcased to a larger extent.

U.S. Tachometer Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the U.S Tachometer Market. The key players in the market include Continental AG, LOR Manufacturing Company Inc., S.R.I. Electronics, Waco Instruments, Lutron Electronics Inc., Kusam Electrical Industries Limited, Aetna Engineering, Omega Engineering, Design Technology Inc., PCE Instruments and many more.

Partnerships/Product Launches/Contracts

In April 2021 Industry-leading automation solutions provider Omron Automation Americas recently released the H7CC multi-function counter that improves upon the existing Omron H7CX which can also function as a tachometer.

Key Takeaways

Though, costly maintenance expenses such as electromagnets that can dilute in overhead conditions, or if heated, and prompt inaccurate figures accompanying the scarcity of protection and safety-related cases are a significant obstacle that is presumed to limit the swelling of the business.

The marine and aerospace industries are equipped with several mechanically rotating hardware setups such as motor of boats and ships and the propellers of the aircraft. There are various usage of tachometer in the aerospace and marine sector, such as in conveyor belts to transfer luggage and heavy loads.

Tachometer plays an important role in elevators, by measuring and controlling the speed of elevators. Therefore, the use of tachometer is inevitable in the marine & aerospace industry and the growth in the respective industry is burgeoning the U.S. tachometer market growth.

Relevant Reports

A. Machine Condition Monitoring Market

https://www.industryarc.com/Report/15026/machine-condition-monitoring-market.html

B. Vehicle Speed Sensor Market

https://www.industryarc.com/Report/16385/vehicle-speed-sensor-market.html

For more Automation and Instrumentation Market reports, please click here

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