New York, NY, June 12, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Level Sensor Market By Technology (Contact and Noncontact), By Monitoring Type (Continuous and Point), and By Application (Consumer Goods, Industrial Manufacturing, Chemicals, Pharmaceuticals, Wastewater, Oil and Gas, Energy and Power, Healthcare, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global level sensor market was around USD 4.13 billion in 2018 and is expected to reach approximately USD 6.18 billion by 2025, at a CAGR of slightly above 5.93% between 2019 and 2025.
Level sensors are used to determine the level or amount of liquid, fluid, or substance that flows in an open or closed system. These sensors are used to monitor the level of a particular free-flowing substance in a contained space. Moreover, some level sensors are also able to monitor the flow of powdered substances. Level sensors have a simple design and are highly effective in performing complex functions.
Browse through 54 Tables & 28 Figures spread over 110 Pages and in-depth TOC on “Global Level Sensors Market: By Type, Applications, Size, Share, Trends, Segments, Analysis and Forecast, 2018–2025”.
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With the implementation of level sensors in manufacturing and automobile industries and their rising use in residential and commercial sectors is supporting the level sensor market. The demand for level sensors in the industrial sector is growing considerably, which is also fuelling the level sensor market globally. Level sensors are also used in nuclear power plants to detect the level of water in the cooling circuit, as even a minute error can create a huge disaster in a nuclear power plant. This is another factor propelling the global level sensor market growth. In addition, these sensors offer reliability, high efficiency, and reduce power consumption.
Overall, the upgradation in technology and advancements witnessed in the level sensor market are expected to further drive this market. However, level sensors can malfunction in applications that require fluctuating voltage, changing temperature, and high stress, which may hamper the level sensor market growth. Level sensors are extensively used in the industrial sector, due to their use in monitoring, measuring, scaling, testing, and automation. The rising number of rigid regulations and policies by the government to protect the environment has also fuelled the level sensor market. With the growing needs of measuring and scaling liquid substances, the industries have generated new market opportunities for the development of the level sensor market.
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The technology segment of the level sensor market includes contact (magnetostrictive and vibratory probe) and noncontact. On the basis of type, the market is bifurcated into continuous and point. By application, the market includes consumer goods, industrial manufacturing, chemicals, pharmaceuticals, wastewater, oil and gas, energy and power, healthcare, and others. The wastewater segment is the second largest revenue contributor to the global level sensor market and is expected to grow substantially in the future. This growth can be attributed to the rising number of wastewater treatment plants and growing investments in the same. On the other hand, many industries prefer highly-effective level sensors that measure fluid level and temperature precisely. Moreover, these sensors play a key role in the chemical industry, as they regulate fluids and shut off in case of disruptions.
Geographically, North America will hold a substantial share in the global level sensor market in the future, owing to the flourishing pharmaceutical and oil and gas industries and increasing investments in automobile and food processing sectors. A lot of companies in the U.S. are concentrating on developing sensors that offer easy installation with good accessibility. There are several technologies that are used in the North American level sensor market, and the ultrasonic level sensor is the most popular due to its small size.
The European region is an emerging level sensor market. This regional growth is particular for magnetostrictive sensors. The European level sensor market is expected to grow substantially in the future, due to growing competition among the leading market vendors, ongoing developments in nanotechnology applications, and rising demand for ICT-enabled technology for level sensors. Moreover, the increasing demand for wireless technology and growing radar-based level sensor are further expected to drive this regional market.
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The Asia Pacific level sensor market has huge potential in various applications of level sensors, such as industrial manufacturing, oil and gas, and consumer goods. The region’s level sensor market is flourishing due to the technological advancements made in automobile and chemical industries. Moreover, the availability of smaller and cheaper sensors is expected to further drive the level sensor market development.
In Latin America, favorable government initiatives and huge FDIs are strong growth drivers of the level sensor market. The increasing use of nanoelectromechanical system (NEMS technology) that has helped in decreasing the size of current devices and permits high sensing performance is also anticipated to encourage the region’s level sensor market.
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Some major players operating in the global level sensor market include Emerson Electric, ABB, Endress+Hauser, AMETEK, Siemens, Vega Grieshaber, First Sensor, Honeywell International, KROHNE Messtechnik, Fortive Corporation, Nohken, Pepperl+Fuchs, TE Connectivity, and Texas Instruments.
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This report segments the global level sensor market into:
Global Level Sensor Market: Technology Analysis
- Contact
- Magnetostrictive
- Vibratory Probe
- Noncontact
- Ultrasonic
- Optical
Global Level Sensor Market: Monitoring Type Analysis
- Continuous
- Point
Global Level Sensor Market: Application Analysis
- Consumer Goods
- Industrial Manufacturing
- Chemicals
- Pharmaceuticals
- Wastewater
- Oil and Gas
- Energy and Power
- Healthcare
- Others
Global Level Sensor Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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