According to a new market research report published by Credence Research “Level Sensors Market (Technology – Contact-based Level Sensors and Non-contact Level Sensors; Application – Industrial Manufacturing & Processing, Automotive, Oil & Gas, Healthcare, Consumer Electronics and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global level sensors market is set to expand with a CAGR of 4.9% through the forecast period of 2017 to 2025.
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Market Insights
Level sensors are sensing devices designed to measure the level of flowing matters including water, chemicals, slurries and several other industrial fluids. These sensors are popularly used in a variety of applications across the industrial as well as household sectors. Industrial applications for the level sensors include level measurement in storage tanks, transport tanks, water treatment tanks and other industrial machines having processing liquids. Level sensors are also used petrochemical industries for measuring liquids such as gasoline, diesel and several others. Apart from the industrial sector, liquid level measurement is significant in residential electronic devices such as water purifiers/dispensers, electric geysers, washing machines, steam irons, automated-coffee machines and several others.
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The most prominent factor driving the overall level sensors market is the consistently growing industrial manufacturing & processing and oil & gas industry worldwide. Governed primarily by China, South Korea, Japan and India, Asia Pacific has emerged as the most promising market for level sensors. With the further rise in the industrial sector coupled with the growing residential sector, Asia Pacific would continue dominating the level sensors market in the following years. Another major factor fueling the overall level sensors market is the growing penetration of process automation across different industrial sectors. As a part of enhancing safety and automation, level sensors have found wide application across oil & gas, food & beverages, power generation, chemical & petroleum and several others. Due to continued efforts by the manufacturers, smart sensors have entered the market making process automation more reliable and productive.
The overall level sensors market is segmented on the basis of technology, and application. On the basis of technology, the market is categorized into contact type and non-contact type level sensors. In 2016, the overall level sensors market was led by the contact-based sensors segment, accounting for more than 65% of the total market value. This is attributed to their low cost, simple design and prolonged existence in the market. On the basis of applications, the market is segmented into industrial manufacturing & processing, automotive, oil & gas, healthcare, consumer electronics and others.
Some of the major players profiled in the report are Texas Instruments, Inc., Analog Devices, Inc., Honeywell International, Inc., Infineon Technologies AG, Siemens AG, General Electric (GE) Company, ABB Ltd., Electro-Sensors, Inc., Pepperl+Fuchs GmbH, NOHKEN, Inc., OMEGA Engineering, Inc., Gems Sensors & Control, Inc., Maxim Integrated Products, Inc., Senix Corporation, FPI Sensors, Endress + Hauser AG, ON Semiconductor, Atmel Corporation, Magnetrol International, Inc., AMETEK, Inc., Emerson Electric, Panasonic Corporation and others.
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