A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Level Sensor Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026”which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Level Sensor market would rise at a positive CAGR during the period 2018-2026.
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A level sensor is an equipment that determines the amount or level of liquids, fluids or other substances that flow in a closed or open system. Therefore, it is used in a variety of tanks, containers, silos, chutes and other vessels wherein the liquid or fluids are stored, processed or released. The level measurement can be either measured at specific points or it can be continuously measured. Continuous level sensors provide continuous, precise and accurate results for level measurement. On the other hand, point level sensors determine low or high levels of a liquid or solid. The global level sensor market was valued at US$3,255.2 mn in 2017 and is anticipated to expand at a CAGR of 5.6 % from 2018 to 2026.
Reasonable Cost of Float Level Sensor to Ensure their Good Growth Rate
Level sensor market has been segmented on the basis of sensor type, technology, application, industry vertical and region. By sensor type, the level sensor market is categorized into capacitance, conductive, float level, microwave/radar, optical, pneumatic, ultrasonic, vibrating point and others. Ultrasonic level sensor comprised the highest market share in 2017 and is expected to hold its position throughout the forecast period. This sensor uses ultrasonic waves to calculate depth of the liquid and is therefore mounted at the top of a tank. It is capable of both, point as well as continuous level measurement. However, amongst all the level sensors, float level sensor is expected to grow at the highest CAGR owing to its reliable performance in reasonable cost and applications in food & beverage, water and wastewater treatment and other industry verticals.
By technology, the level sensor market is segmented into contact type and non-contact type. Non-contact type level sensor is consistently expected to comprise the highest market share between 2018 and 2026. Long and maintenance-free lifespan along with resistance to corrosion are the major driving factors attributed to its dominance.
By application, the level sensor market can be segmented into point level, continuous level and interface level. Continuous level sensors measure the level in a given range and identify the exact amount of liquid in the container or open space. On the other hand, point-level sensors detect levels that are extremely high or low. In 2017, continuous level held the highest share and is further expected to maintain its dominance throughout the forecast period.
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By industry vertical, the level sensor market can be classified into chemical, food and beverage processing, oil and gas, pharmaceutical, water & wastewater treatment and others. Water and wastewater treatment held the highest share in 2017 and is further expected to lead the level sensor market. Increasing public awareness regarding water conservation and stringent government regulations on water treatment are the major factors responsible for the growth of this segment.
Asia Pacific Opens Up Lucrative Market for Level Sensors as Manufacturing Activities Gain Momentum
Globally, on the basis of geography, the level sensor market is segmented into North America Europe, Asia Pacific, and the Middle East & Africa, and South America. In 2017, Asia Pacific accounted for the highest market share in the global level sensor market and is expected to dominate the market throughout the forecast period. Growing industrialization and increasing use of automation systems is driving the growth of level sensors in the region. Increasing number of manufacturing activities in the developing countries of Asia Pacific have provided the global level sensor market a much-needed impetus. The rise of foreign direct investment in various verticals is expected to up the demand for level sensors for a score of production processes in the region.
Key players operating in the level sensor market include ABB Ltd, Emerson Electric company, Siemens AG, TE Connectivity Ltd, First Sensor AG, SICK AG, Texas Instruments Incorporated, Pepperl+Fuchs GmbH, AMETEK Inc., Endress+Hauser AG, Fortive Corporation , Nohken Inc., Krohne Messtechnik GmbH and among others.
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