A new research report, titled “Fluid Sensors Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025” has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE). According to the report, the global fluid sensors market is likely to grow at a CAGR of 5.6% through 2025, and reach a valuation of over US$ 18 Bn by the end of 2025.
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The lucid business intelligence study offers in-depth analysis and insights on the key factors that are shaping this landscape. Market forecast and analysis has been offered in various regions, and also on the basis of several segments. The qualitative section of the report studies the drivers, restraints, opportunities, and trends prevailing in the market in detail.
According to the report, demand for fluid sensors is likely to witness steady growth during the assessment period on account of their wide ranging applications across a range of industries. Fluid sensors are used in the oil and gas industry, food and beverage industry, and industrial sector. Steady growth in these end-use industries is likely to provide an impetus to the growth of the fluid sensors market during the assessment period.
Sensing the opportunities in the market, fluid sensor manufacturers are focusing on improving the technology and sensing capabilities of their products. The focus is shifting towards building energy-efficient and highly accurate and reliable products. The proliferation of digital and smart sensors has led to further innovations in the fluid sensors market.
The report offers detailed segmentation on the basis of product type, end-use industries, and region. According to the report, among different types of fluid sensors, such as pressure sensors, flow sensors, level sensors, and temperature sensors, demand for pressure sensors is likely to grow at a brisk pace during the assessment period. On the other hand, demand for temperature sensors is likely to increase at a brisk pace during the assessment period.
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On the basis of end-use industry, oil and gas industry is likely to account for the bulk of the demand. The oil & gas industry is likely to push demand for fluid sensors during the assessment period. In addition to surging demand for fluid sensors from the oil and gas industry, demand is also likely to increase from chemical, water, and food & beverages segment.
North America continues to be one of the leading markets for fluid sensors globally, with demand concentrated in the US. The North America fluid sensors market is likely to grow at a steady CAGR during the assessment period. Manufacturers can also expect a steady stream of opportunities from Asia Pacific during the assessment period.
Some of the key companies profiled in the report include NXP Semiconductor, SICK AG, Honeywell Corporation, Schneider Electric AG, BOSCH, Gems Sensors, Inc., Yokogawa Electric Corporation, and General Electric Company.
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