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Aeroderivative Sensor Market Size By Sensor Type (Accelerometer, Temperature Sensors, Vibration Sensors, Pressure Sensors, Flame Sensors), By Service Provider (Aftermarket, OEM), By End-Use (Industrial, Marine), COVID-19 Impact Analysis, Application Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI5359
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Drivers

Aeroderivative Sensor Market size surpassed over USD 250 million in 2021 and is expected to witness a considerable CAGR of around 10% from 2022 to 2030. The increasing environmental awareness and growing demand for sustainable energy options will bolster the industry demand.
 

Aeroderivative Sensor Market

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Renewable energy is surging in popularity due to its affordability and the ‘clean energy’ tag. Owing to stringent government regulations for environmental protection, renewable energy sources have gained considerable traction, thereby fueling the requirement for aeroderivative sensors. The cognizance in developing countries about the benefits of clean energy and an increasing number of government initiatives toward propagating these energy sources is supposed to escalate the aeroderivative sensor market growth opportunities.
 

Rising cost of aeroderivative sensors may hamper the industry development

Aeroderivative sensors are highly priced given the huge costs of temperature, accelerometer, pressure, and other types of sensors used in aeroderivative gas turbines. As compared to other sensors deployed across the industry ecosystem, the costs of these sensors continue to remain high, posing a significant hindrance to the global aeroderivative sensor market expansion. However, increasing investments in green technologies by private players may eventually help bring down the cost of these sensors in the near future.
 

Increasing demand for hybrid aeroderivative turbine engines

Global Aeroderivative Sensor Market Size, By Sensor Type

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The pressure sensor sector is anticipated to register a revenue of USD 200 million by 2030 driven by rising demand for hybrid aeroderivative turbine engines in the aviation sector. The need for such sensors is also observed in pressure measurement applications for fuel tank leaks, exhaust systems, and more. There has been an upsurge in pressure aeroderivative sensor sales due to the advancements in aircraft turbine engines that have facilitated the advent of smart sensing solutions to help record the atmospheric pressure while being in the air.
 

Rising adoption of low-cost aftermarket services

The aftermarket segment in aeroderivative sensor market is projected to hit a valuation of USD 130 million by 2030. The swelling demand for low-cost spare parts and aftermarket facilities are the main factor responsible for industry advancements. For a pocket-friendly approach to saving maintenance costs on aeroderivative gas turbines, end-use industries such as aviation and marine are focusing on collaborating with aftermarket service providers.
 

Rapid advancements in marine industry to amplify the segment expansion

The marine sector is estimated to record revenue share of USD 130 million by 2030, credited to rising product demand from multiple application avenues, including oil and gas transmission, marine propulsion systems, commercial marine environments, mechanical drive, and power generation. The marine industry also utilizes aeroderivative sensors for monitoring performance and path exploration. Prominent manufacturers are diligently working toward investing in research and development programs to improve the capabilities of existing sensors that can be conveniently used in marine applications.
 

Europe to emerge as a major hub for the market players

Global Aeroderivative Sensor Market Size, By Region

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The Europe aeroderivative sensor market share is likely to attain about 10% gains through 2030, on account of the increasing proliferation of clean energy across European countries. Regional governments have been consistently coming up with initiatives supporting the usage of renewable energy in addition to providing funding for energy-efficient projects. The increasing efforts by public and private sector players in this regard will upsurge the demand for aeroderivative sensors in the years ahead.
 

Product innovations to propel the industry trends

Some of the key aeroderivative sensor market participants in the ecosystem of are Bently Nevada (Baker Hughes), PCB Piezotronics, Inc., Meggitt PLC, KISTLER INSTRUMENT CORP., and Unison, LLC, and others. These companies are focusing on product innovations to retain their market position. For instance, in March 2022, Sensirion AG introduced a new fourth-generation temperature digital sensor series named STS4x for recording accurate measurements and turnaround times for maximizing performance. With multiple accuracy classes, improved signal processing, and communication speed, it has ample applications in marine and industrial gas turbines.
 

Impact of COVID-19 on the business outlook

Amid the COVID-19 aftermath, the aeroderivative sensor market encountered a massive setback due to export-import halt and industry shutdowns. However, the industry is ready to bounce back with growing investments by the players to enhance the existing capabilities of aeroderivative sensors. The effect of COVID-19 compelled key contenders to opt for green technologies. Initiatives by regional governments to transform the aviation sector green and the innovations in the latest technologies to minimize the carbon footprint will stimulate the industry progression.
 

This market research report on aeroderivative sensor includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2030 for the following segments:

Market, By Sensor Type

  • Accelerometer
  • Temperature sensor
  • Vibration sensor
  • Pressure sensor
  • Flame sensor
  • Others

Market, By Service Providers

  • Aftermarket
  • OEM

Market, By End-Use

  • Industrial
    • Aftermarket
    • OEM
  • Marine
    • Aftermarket
    • OEM

The above information is provided on a regional and country basis for the following:

North America

  • U.S.
  • Canada

Europe

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Russia

Asia Pacific

  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia

Latin America

  • Brazil
  • Mexico
  • Argentina

MEA

  • Saudi Arabia
  • UAE
  • South Africa
  • Israel

 

Authors: Preeti Wadhwani , Prasenjit Saha

Frequently Asked Questions (FAQ) :

The market size of aeroderivative sensor registered a valuation of over USD 250 million with a targeted CAGR of around 10% during 2022-2030, says this GMI report.

Europe is likely to emerge as the major playground for the aeroderivative sensor industry, owing to increasing adoption of renewable energy.

The industry share from the aftermarket segment may reach USD 130 million by 2030, on account of the rising demand for low-cost spare parts and the acceptance of an inexpensive maintenance business model.

The major contenders include are Alba Power (Sulzer), Ametek, Inc., AP4 Group, Auxitrol Weston, Bently Nevada (Baker Hughes), Conax Technologies, EthosEnergy, Meggitt PLC, PCB Piezotronics, Inc., Rokade RotoTechniks, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 15
  • Tables & Figures: 407
  • Countries covered: 21
  • Pages: 310

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