The global level sensor market is expected to progress at a CAGR of 9% over the forecast period from 2017 to 2023, according to the latest research report published by Market Research Future (MRFR). The report delves into the historical background of the global Level Sensor Market to find relevant drivers and restraints affecting the market’s progression. The likely impact of these factors on the market’s progress over the forecast period is charted in the report with the help of industry-standard analytical tools.
Level sensors are used in a wide range of industries to prevent leakage. The vital importance of this function in the end-use industries has driven the usage of level sensors in the industrial sector. Industries such as wastewater treatment, pharmaceuticals, chemicals, oil and gas, healthcare, and energy and power are among the leading consumers in the level sensor market. All these industries deal with substances that are too valuable or too harmful to be spilled, leading to a growing use of level sensors in these and other end-use applications.
The growing technological progression in level sensors is likely to be a major driver for the global level sensor market over the forecast period. Over time, mechanical level sensors have been replaced by digital level sensors, which display more accurate results at cheaper costs. This is likely to drive the global level sensor market over the forecast period.
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The prominent players in level sensor market are Texas Instruments Incorporated (U.S.), Siemens AG (Germany), Fortive Corporation (U.S.), Honeywell International Inc. (U.S.), First Sensor AG (Germany), ABB Ltd. (Switzerland), Vega Grieshaber KG (Germany), KROHNE Messtechnik GmbH (Germany), Nohken, Inc. (Japan), TE Connectivity Ltd. (Switzerland), Pepperl+Fuchs GmbH (Germany), AMETEK, Inc. (U.S.), and Endress+Hauser AG (Switzerland).
The global level sensor market is segmented on the basis of technology and application.
- Based on technology, the global level sensor market is segmented into contact type and non-contact type level sensors. The contact level segment is further sub-segmented into pneumatic, vibratory probe, hydrostatic, magnetic & mechanical float, magneto-strictive, and guided wave. Furthermore, the non-contact segment is sub-segmented into ultrasonic, microwave/radar, optical, laser, micro-electro-mechanical system (MEMS), and others.
- By application, the global level sensor market is segmented into consumer goods, automobile, industrial manufacturing, chemicals, dry bulk, pharmaceuticals, waste & water management, oil & gas, energy & power, and healthcare.
North America is likely to dominate the global level sensor market over the forecast period due to the growing industrial sector in the region and the rapid technological progression of the level sensor market in the region over the last few years. The growing incorporation of advanced Internet of Things (IoT) technology into industrial operations is likely to be a major driver for the level sensor market in North America over the forecast period. The growing use of IoT technology is likely to supplement the use of digital level sensors perfectly, providing the level sensor market with strong impetus over the forecast period. The growing demand for technically proficient level sensors in the industrial sector is likely to drive the level sensor market in North America over the forecast period.
Asia Pacific is also likely to play a key role in the growth of the global level sensor market over the forecast period. The growing industrial sector in countries such as China, India, and South Korea is likely to be a key driver for the global level sensor market over the forecast period, with the automotive industry leading the demand tables thanks to the growing demand for passenger as well as commercial automobiles in Asia Pacific. Level sensors are used in automotive fuel tanks to monitor the level of the fuel, making them vital to the automotive industry over the forecast period. The growing demand for remote sensors operating on digital technology is likely to be a key feature of the level sensor market in Asia Pacific over the forecast period.
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- Technology Investors
- Research/Consultancy Firms
- Level sensor software vendors
- Raw material and manufacturing equipment suppliers
- Original equipment manufacturers (OEMs)
- OEM technology solution providers
- Forums, alliances, and associations
- Technology investors
- Micro-Electro-Mechanical System (MEMS) manufacturer
- Governments and financial institutions
- Analysts and strategic business planners
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