According to a new report Global Level Sensors Market, published by KBV Research, The Global Level Sensor Market size is expected to reach $6.8 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period. Escalating progress towards smaller, smarter and cheaper sensors; supporting government regulations; growing vehicle production; increasing the development of the Industrial Internet of Things (IIoT) and the rising adoption of level sensors for healthcare applications are some of the key factors driving the growth of this industry.
The market for non-contact level sensors is anticipated to gain the highest market share over the forecast period. The leading market role for these sensors can be due to the growing acceptance of non-contact level sensors in several end-use applications like wastewater or water, mining and power stations. The Contact Level Sensor market is expected to witness a CAGR of 5.3% during (2019-2025).
The continuous level monitoring category is projected to hold the largest share in level sensors market over the coming years. Continuous level monitoring determines the amount of material in a storage vessel on a constant basis. Therefore, it is considered to be suitable for monitoring the inventory of material in any tank or vessel to avoid downtime. The Point Level Monitoring market is expected to witness a CAGR of 11% during (2019-2025).
The industrial manufacturing sector is expected to grow at the higher CAGR level over the forecast period compared to the consumer goods industry. The dominant position is due to an increase in the use of automated machines and processes. The Oil & Gas market showcases growth rate of 7.4% during (2019-2025). The Wastewater market is anticipated to witness a CAGR of 10% during (2019-2025). Additionally, The Chemical & Pharmaceuticals market is poised to grow at a CAGR of 8.8% during (2019-2025).
The Asia Pacific region is projected to record the largest market share in the level sensor market during the forecast period. Developing nations in the APAC region, such as China and India, are experiencing significant industrial growth. The Europe market is expected to witness a CAGR of 7.5% during (2019-2025). Additionally, The North America market would witness a CAGR of 7.9% during (2019-2025).
Structural Insights: https://www.kbvresearch.com/level-sensors-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of TE Connectivity Ltd., Emerson Electric Co., ABB Group, Siemens AG, Ametek, Inc., Honeywell International, Inc., Fortive Corporation, Texas Instruments, Inc., MTS Systems Corporation, Sensirion AG.
Recent Strategies Deployed in Level Sensors Market
» Partnerships, Collaborations, and Agreements:
Nov-2019: ABB came into partnership with Exeger Operations AB for enabling Exeger's to increase the production capacity of its unique photovoltaic material in its Stockholm factory. Also, the partnership is aimed at developing automation solutions for Exeger's fully automated factory that will begin the construction in the future.
Aug-2019: ABB signed an agreement with the Chinese Government in which it has been supplying integrated automation solutions for the 100MW Urat solar energy project in China. In this agreement, the company will be responsible for the deployment of its Ability Symphony Plus distributed control system (DCS) at the plant.
Jun-2019: Ametek Sensors and Fluid Management collaborated with AVIC XAC Commercial Aircraft Co. Under this collaboration, the former company has been providing high/low-level sensors and temperature sensors, a fuel quantity signal conditioner, refuel control panels, etc.
» Acquisition and Mergers:
Nov-2019: MTS acquired Danish Engineering Firm for expanding its presence in wind energy and aerospace markets.
Oct-2019: TE Connectivity took over Silicon Microstructures from Elmos Semiconductors. Under the acquisition, TE's operational scale, customer base and existing sensors technologies has been integrated with SMI's micro-electro-mechanical systems (MEMS) sensor technology design and manufacturing capabilities. The acquisition expanded its global position in pressure sensing technology.
Jul-2019: Emerson completed the acquisition of Zedi's Software and Automation Business. The acquisition added Zedi’s cloud supervisory control and data acquisition (SCADA) platform to Emerson for helping the oil and gas producers in reducing the operating costs and increasing production through cloud-based control, monitoring, and optimization.
Feb-2019: Emerson acquired General Electric's Intelligent Platform Business. The acquisition expanded the capabilities of the former company in machine control and discrete applications.
May-2018: Siemens announced the acquisition of Enlighted, a provider of smart IoT system. The acquisition enhanced its business in producing smart sensors with the addition of Enlighted's smart sensors and sensor platform to it.
» Geographical Expansions:
Jan-2020: Ametek opened a new technology Solutions Center in Élancourt City (France) as a regional headquarters. The expansion is aimed at supporting the growth of electromechanical products and electrical instrument business in France.
» Product Launches and Product Expansions:
Jan-2020: MTS Sensors unveiled the next generation of Model MH sensors. These sensors provide customers with more value to solve the equipment automation requirements.
Nov-2019: TE Connectivity released the AmbiMate MS4 multi-sensor module. This module incorporates up to seven of the most-in demand sensors deployed in smart building applications. This module measures and senses humidity, temperature, ambient light, passive infrared, volatile organic compounds, and carbon dioxide.
Nov-2019: Ametek Land launched 4650-PM and 4750-PM, two new continuous emission monitoring systems. These systems have been delivering reliable and accurate measurements of particulate matter from the industrial combustion process in ducts and stacks.
Oct-2019: ABB extended the range of its digital analytical measurement resolutions with the launch of AWT420 transmitter. This new four-wire, dual-channel analytical transmitter measures the multiple parameters in a single device. It also optimizes the process performance for efficient water treatment and usage.
Nov-2018: Ametek launched 737NG and E190/E195 operators upgraded oil-level sensors for CFM56-7B and CF34-10E engines. These new OEM preferred designs were aimed at addressing the issues of degraded and swelling materials caused by exposure to modern High Thermal Stability (HTS) turbine oils.
Nov-2018: Sensirion released SLF3S-1300F liquid flow sensor based on Sensirion's proven CMOSens® Technology. This sensor offers maximum stability, safety, and long-term reliability for analytical instruments, diagnostics, and life science applications.
Oct-2018: ABB launched the next generation of magnetostrictive liquid level transmitters. These transmitters have been improving the level measurement through ensuring that total and/or interface levels are measured accurately and reliably. Also, it improves the measurement for a wide range of industries such as power generation, oil, gas, and chemical industries.
Global Level Sensors Market Segmentation
Contact Level Sensor
Magnetic & Mechanical Float
Noncontact Level Sensor
By Monitoring Type
Continuous Level Monitoring
Point Level Monitoring
By End User
Oil & Gas
Chemical & Pharmaceuticals
Rest of North America
Rest of Europe
Rest of Asia Pacific
Rest of LAMEA
TE Connectivity Ltd.
Emerson Electric Co.
Honeywell International, Inc.
Texas Instruments, Inc.
MTS Systems Corporation
Level Sensors Market Related Reports:
North America Market
Asia Pacific Market