Grand View Research, Inc. - Market Research And Consulting.The global level sensor market is anticipated to reach USD 5.48 billion by 2025, according to report by Grand View Research, Inc. High demand for advanced instruments equipped with microprocessors that can provide information regarding instrument performance is projected to propel market over the forecast period.
According to a report by Grand View Research, Inc.; the global level sensor market is anticipated to reach around USD 5.48 billion by 2025. High demand for advanced instruments equipped with microprocessors that can provide information regarding instrument performance is projected to propel market over the forecast period (2014 to 2025). Level sensing technologies can measure level of liquid and fluidized solids including slurries, powders, and granular materials. Rising use of smart sensors across different industrial applications is expected to boost demand in near future.
Increasing use of multipurpose level sensors in automotive sector can drive market growth. In addition, rising adoption of multiphase sensors in food and water and oil and gas sectors can augment demand for these sensors. High demand for smart sensors capable of two-way communication and self-diagnosis is also anticipated to bode well for this market during the forecast period. However, adoption of thin-film technology and increasing competition among market players can significantly hamper expansion of market in the years to come.
The worldwide level sensor market can be segregated on the basis of technology, application, and region. Based on technology, the market can be categorized into contact type and non-contact type. The market is likely to experience transition from contact type to non-contact type attributed to accuracy and flexibility of these sensors in measurement. The sensors also need minimal maintenance. This factor is also anticipated to work in favor of their demand in the forthcoming years.
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Non-contact level sensors are electronic devices that generate electromagnetic field for level measurement. These sensors can operate faster and have better application flexibility. Non-contact technology can include capacitive, photoelectric, and ultrasonic sensors. Contact level sensors are electrochemical devices used to detect changes through physical contact with target material. Hydrostatic, magnetostrictive, vibratory probe, and magnetic float are some of the types of contact sensors. Rising adoption of both these types across various application segments is anticipated to bode well for market expansion in near future.
Based on application, the market can be classified into healthcare, consumer electronics, industrial process, dry bulk, automotive, oil and gas, and others. Automotive segment is projected to witness significant expansion at a CAGR of around 7% during the forecast period. Automobiles are equipped with fuel sensors to measure the amount of fuel present in tanks. Manufacturers focus on lowering repair costs and reliability requirements. Increasing applications in measuring liquids such as cooling water, windshield cleaning and power steering liquid, and engine oil is anticipated to propel demand in near future.
Industrial and municipal wastewater management is anticipated to register significant demand for level sensors attributed to stringent regulations in Germany, U.S., and U.K. In addition, favorable government initiatives are likely to boost adoption of wastewater treatment and management technologies in emerging economies. This factor is projected to create business opportunities over the forecast period. Dry bulk is estimated to register around 6% CAGR during the forecast period owing to rising demand for transportation, processing, storage of bulk solids in plastic sector.
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Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East and Africa. In 2016, North America dominated with the largest market share. The United States Environmental Protection Agency’s (U.S. EPA) Air, Climate, and Energy research program has initiated a research initiative to survey both O3 and NO2 low-cost sensors. It is likely to work in collaboration with developers to evaluate characteristics like precision, interference, humidity and temperature changes, response changes, among other characteristics of such sensors.
Asia Pacific market for level sensors is expected to grow well during the forecast period attributed to the presence of a large number of semiconductor manufacturers in China, Korea, and Japan. In addition, rising concerns regarding environment and water management can fuel regional market growth. Europe is projected to witness significant growth attributed to its dominance in computing and information and communications technology (ICT) sectors. Implementation of international plant protection convention (IPPC) directive in semiconductor sector to clean waste water can increase demand for sensor in the region.
Some of the leading companies in the level sensor market are Emerson Electric Company; Honeywell International, Inc; MTS System Corporation; Siemens AG; and Senix Corporation.
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