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Tachometer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

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  • 123 Pages
  • January 2021
  • Region: Global
  • Mordor Intelligence
  • ID: 5239545
UP TO OFF until Jun 30th 2023
The tachometer market is expected to register a CAGR of 10% over the forecast period 2021 - 2026.
  • The rising need for speed monitoring to prevent the damage to the rotating shafts and equipment has propelled the users to deploy tachometers. This is expected to boost market growth over the forecast period.
  • Increasing deployment of traffic wind turbines is expected to fuel the adoption of tachometers as it is an essential component that is used to display the revolutions per minute (RPM) on a calibrated analog dials or digital displays.
  • TAK Studio designed overhead highway lights that are powered by wind turbines which are spun by the air turbulence generated as cars and trucks travel past at high speed.
  • The increasing investments by the governments to promote cleaner-greener-energy technologies such as windmills are expected to fuel the market growth over the forecast period. For instance, in October 2019, the Scottish government issued a call for £3bn Green Investment Portfolio (GIP) program for projects requiring large-scale private investment. The projects eligible for the Investment Portfolio include wind, solar and energy storage schemes.

Key Market Trends

Automotive Sector is Expected to Register a Significant Growth
  • Tachometer shows the rate of rotation of the engine's crankshaft with the purpose of enabling the driver in choosing the right throttle and gear for driving conditions that allows him a smooth and efficient drive.
  • The increasing number of vehicles sold is expected to boost the adoption of the tachometers by vehicle manufacturers over the forecast period. For instance, in 2018 the automakers in the United States reported an increase in the sales of new vehicles with 17.27 million vehicles being sold.
  • The governments are increasingly promoting the usage of electric vehicles with the Britain government announcing a Euro 400 million fund to help develop rapid charging infrastructure points for electric vehicles. The first Euro 70 million investment would create 3,000 new rapid charge points, more than doubling the number of rapid charge points across the UK by 2024. This in itself is indicative of the fact that the number of electric vehicles is expected to grow, fueling the adoption of the tachometers over the forecast period.

North America is Expected to Hold the Largest Market Share
  • North America is expected to dominate the market over the forecast period, owing to the presence of some major players in the region such as Emerson Electric Co., Honeywell International Inc., amongst others coupled with the extensive research and development activities are expected to promote wide-scale adoption of tachometers in the region.
  • The increasing number of vehicles in operation in the region is expected to boost the adoption of the tachometers by the user as well as the manufacturers. For instance, according to Experian, the number of vehicles in operation in the United States increased in the first quarter of 2019 to 276 million as compared to the first quarter of 268.3 million.
  • The increasing investments by the government and the private players in the wind power are expected to boost the market growth over the forecast period. For instance in 2018 according to American Wind Energy Association (AWEA) announced that in Texas and across the nation, Fortune 500 brands and utilities had purchased a record amount of new wind energy last year through long-term contracts, contributing to a record pipeline of wind capacity under construction or advanced stages of development.

Competitive Landscape

The competitive rivalry in the tachometer market is high owing to the presence of some key players such as Emerson Electric, Schneider electric, Pricol Limited amongst others. However, the market remains consolidated. Through research and development, the companies in the market have been able to gain competitive advantage over other players. Strategic partnerships and mergers & acquisitions have allowed these companies to gain a greater footprint in the market.

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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Introduction to Market Drivers and Restraints
4.4 Market Drivers
4.4.1 Growing Demand for Automobiles
4.4.2 Increasing Need for Rotation Speed Monitoring
4.5 Market Restraints
4.5.1 High Maintenance Cost
5.1 By Data Acquisition Method
5.1.1 Contact Type
5.1.2 Non-Contact Type
5.2 By End-user Industry
5.2.1 Automotive
5.2.2 Aerospace
5.2.3 Industrial
5.2.4 Other End-user Industries
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6.1 Company Profiles
6.1.1 Testo SE & Co. KGaA
6.1.2 Emerson Electric Co.
6.1.3 Schneider Electric corporation
6.1.4 Honeywell International Inc.
6.1.5 Pricol Limited
6.1.6 PCE Deutschland GmbH
6.1.8 Monarch Instrument
6.1.9 Ono Sokki India Private Limited.
6.1.10 SKF AB
6.1.11 Precision Scientific Instruments Corporation.
6.1.12 Dantec Dynamics A/S.( Nova Instruments Company)
6.1.13 SRI Electronics
6.1.14 Shanghai Automation Instrumentation Co., Ltd
6.1.15 Lutron Electronic Enterprise Co., Ltd.
6.1.16 LOR Manufacturing Company, Inc.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Testo SE & Co. KGaA
  • Emerson Electric Co.
  • Schneider Electric corporation
  • Honeywell International Inc.
  • Pricol Limited
  • PCE Deutschland GmbH
  • Monarch Instrument
  • Ono Sokki India Private Limited.
  • SKF AB
  • Precision Scientific Instruments Corporation.
  • Dantec Dynamics A/S.( Nova Instruments Company)
  • SRI Electronics
  • Shanghai Automation Instrumentation Co., Ltd
  • Lutron Electronic Enterprise Co., Ltd.
  • LOR Manufacturing Company, Inc.