Global Marine Wind Sensor Market 2017-2021

Overview of the global marine wind sensor market

According to Technavio’s market research report, the global marine wind sensor market will grow at a steady rate and post a CAGR of close to 4% during the forecast period. The decrease in fuel prices that is motivating consumers to purchase boats, will be one of the major factors driving the growth prospects of the global marine wind sensor market throughout the estimated period. The supply-demand gap of oil has resulted in the decline in crude oil prices. This will boost the sales volume of boats and push the demand for marine wind monitors. Factors such as the growth in domestic oil production in the US and the increased production of crude oil in Russia that will further slow down the demand for oil and reduce oil prices, will also fuel the adoption of marine wind sensors during the forecast period.

The growing preference for ultrasonic wind sensors in the marine industry will be one of the key trends that will gain traction in the marine wind sensor market. A number of benefits associated with ultrasonic wind sensors including low maintenance, better response to wind gusts, use of advanced wind speed gauges, accurate measurement of the wind speed, immediate calculation of the speed, and ability to prevent the formation of ice, will boost the acceptance of ultrasonic wind sensors among various end users, which will in turn, fuel the growth of the marine wind sensor market.

Competitive landscape and key vendors