A new research study titled “Level Sensor Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026” has been added to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global level sensors market is likely to grow at 5.6% CAGR during the assessment period. In terms of revenue, the level sensors market is likely to reach a valuation of nearly US$ 5.30 Bn.
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The research study highlights the key drivers, restraints, opportunities, and trends that are impacting the growth of the global level sensor market. According to the research study, demand for level sensors is witnessing a steady growth owing to their wide ranging applications in food and beverage, oil & gas, industrial manufacturing, and consumer goods. The steady demand from these end-use industries is likely to provide an impetus to growth during the assessment period.
The global level sensors market remains highly fragmented, with a number of players vying for higher revenue share of the market. According to the report, some of the leading players in the market include First Sensor AG, ABB Ltd., SICK AG, TE Connectivity Ltd., Siemens AG, Emerson Electric Co., and Texas Instruments Inc. These players are focusing on increasing their presence in Asia Pacific, as a slew of opportunities are likely to emerge in the region.
Asia Pacific is likely to be the leading market for level sensors globally, with China, India, and ASEAN among the key demand centers. Increase in manufacturing activities in these regions, combined with growing foreign direct investment in the region is likely to provide an impetus to growth during the assessment period.
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In a bid to offer in-depth insights and analysis on the level sensors market, the report has segmented the market on the basis of sensor type, application, industry vertical, technology, and region. By sensor type, demand for ultrasound sensors is likely to remain robust during the forecast period. However, float level sensors are likely to grow at significant CAGR during the assessment period.
By technology, demand for non-contact level sensors is higher than contact level sensors. The non-contact level sensors have a longer lifespan and they are highly resistant to corrosion, which is a key factor driving their adoption among end-users.
The key application segments of level sensors market include point level, interface level, and continuous level. Demand for continuous level sensors continues to be robust on account of their accuracy and range. By industry vertical, water and wastewater treatment continues to account for the highest revenue share of the market. Increase in public awareness regarding water conservation is likely to drive demand for level sensors during the assessment period.
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