According to the latest report by IMARC Group, titled “Level Sensor Market :Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” The global level sensor market reached a value of US$ 4.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.3% during 2021-2026.
A level sensor is a device that is utilized to determine the level of free-flowing substances or fluids in an open or closed system of any equipment. It is designed to maintain, monitor and measure levels of the liquid as well as fluidized solids, such as slurries, powders and granular materials, in an accurate manner. The sensor further converts the perceived data into an electric signal upon detecting the liquid level. These sensors are widely available in different varieties and sizes that are employed for diverse sensing techniques and requirements. Consequently, they are extensively utilized for numerous application segments across the chemical, pharmaceutical, oil and gas, food and beverage, energy, and mining sectors.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Level Sensor Market Trends:
Since level sensors form an indispensable component in multiple automated industries that deal with large-scale manufacturing and storage of powdered materials or liquids, they are widely being employed for water level measurement, object detection and distance ranging. Along with this, continual advancements in the consumer electronics industry has facilitated the rising trend of product miniaturization, which is boosting the uptake of level sensors across the globe. The escalating requirement for smart multiphase sensors in the oil and gas sector is also acting as a major growth-inducing factor. The integration of advanced technologies with these sensors is anticipated to further create a positive outlook for the market. These devices are widely being equipped with laser and ultrasonic technologies that enable wireless and remote monitoring of fluid levels in the reservoirs. Market players are also increasingly integrating ruggedized reed switch-based technology with float level sensors to precisely detect the fluid level of the tank at any point while offering the convenience of adjusting flow valves or metering pumps for maintaining predictable process control. Some of the other factors contributing to the market growth include the rapid digitization across numerous industry verticals and the increasing adoption of nano-digital sensors.
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Global Level Sensor Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd, Ametek Inc., Emerson Electric Co., Endress+Hauser AG, Fortive Corporation, Honeywell International Inc, MTS Systems Corporation, Siemens Aktiengesellschaft, TE Connectivity Ltd., Texas Instruments Incorporated and VEGA Grieshaber KG (Grieshaber Gmbh & Co. Kg
The report has segmented the market on the basis on region, technology, monitoring type and application.
Breakup by Technology:
Contact Level Sensor
Non-Contact Level Sensor
Breakup by Monitoring Type:
Continuous Level Monitoring
Point Level Monitoring
Breakup by Application:
Oil and Gas
Chemicals and Pharmaceuticals
Energy and Power
Mining and Metal Processing
Food and Beverage
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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