Level Sensor Market by Technology (Contact ( Magnetostrictive, Vibratory Probe), and Noncontact (Ultrasonic, Optical)), Monitoring Type (Continuous Level Monitoring, and Point Level Monitoring), End-Use Application, and Geography - Global Forecast to 2023
“The level sensor market estimated to grow at a CAGR of 5.66% between 2017 and 2023”
The level sensor market is expected to reach 5.32 billion by 2023, growing at a CAGR of 5.66% between 2017 and 2023. The key factors contributing to the growth of the level sensor market include the supportive government regulations, rise in vehicle production, and increasing advancement of the Industrial Internet of Things (IIoT). Moreover, the market is further driven by the development of smaller, smarter, and cheaper sensors, and the growing adoption of level sensors in the healthcare end-use application.
“The level sensor market for point level monitoring is expected to grow at the highest CAGR during the forecast period”
The level sensor market for point level monitoring is expected to witness the highest CAGR between 2017 and 2023. Level sensors with point level monitoring are economically priced and easy to install and setup. These sensors typically find their applications in overfill protection, high and low-level alarms, pump control, dry-run protection for pumps, and leakage detection in double containment piping systems or double-wall tanks. Moreover, level sensors with point level monitoring are widely used in the industrial manufacturing end-use application.
“The market for contact level sensors is expected to hold the largest share during the forecast period”
The market for contact level sensors is expected to hold the largest share during the forecast period. Contact level sensors operate well with a wide variety of media or liquid, including corrosives. Contact level sensors are popular because of their simplicity, dependability, and low cost. The higher market size of contact level sensors is attributed to the use of a large number of these sensors in the industrial manufacturing end-use application.
“Level sensor market in APAC is expected to grow at the highest rate between 2017 and 2023”
This report covers the studies market in regions including North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). APAC is a major market for various end-use applications such as automotive, process industries, healthcare, petrochemicals and related process, chemicals, power generation, and consumer goods. India and China are considered a huge market for level sensors owing to their growing economy. As the demand for these sensors are increasing in the healthcare end-use application, major issues in APAC, such as aging population and increase in the number of lifestyle-related diseases, act as a driver for the growth of the studies market.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 – 37%, Tier 2 – 20%, and Tier 3 – 43%
• By Designation: C-Level Executives – 34%, Directors – 24%, and Others – 42%
• By Region: APAC – 41%, North America – 27%, Europe – 17%, and RoW – 15%
The level sensor market comprises players such as ABB Ltd. (Switzerland), Emerson Electric Co. (US), Endress+Hauser AG (Switzerland), Vega Grieshaber KG (Germany), Siemens AG (Germany), AMETEK, Inc. (US), Honeywell International Inc. (US), First Sensor AG (Germany), Fortive Corporation (US), KROHNE Messtechnik GmbH (Germany), Pepperl+Fuchs GmbH (Germany), Nohken, Inc. (Japan), Texas Instruments Incorporated (US), and TE Connectivity Ltd. (Switzerland).
• In terms of market by technology, contact and noncontact level sensors are covered.
• In terms of market by monitoring type, continuous level monitoring and point level monitoring are covered.
• In terms of market by end-use application, industrial manufacturing, oil and gas, chemicals, wastewater, energy and power, pharmaceuticals, consumer goods, healthcare, and others are covered.
• The geographic analysis is done with regard to major four regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises South America and the Middle East and Africa.
Reasons to Buy the Report:
From an insight perspective, this research report has focused on various levels of analysis such as industry analysis (industry trends), market ranking analysis of top players, and value chain analysis. This report also provides the company profiles, which discuss the basic views on the competitive landscape, emerging and high-growth segments of the studied market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market penetration: Comprehensive information on various types of level sensor products offered by the top players in the overall level sensor market.
• Product development/innovation: Detailed insights regarding research and development (R&D) activities, emerging technologies, and product launches in the level sensor market.
• Market development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for level sensors across regions.
• Market diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the overall level sensor market.
• Competitive assessment: In-depth assessment of market ranking analysis, strategies, products, and manufacturing capabilities of the leading players in the level sensor market.