level-sensors-market

Level Sensors Market by Technology (Contact-based Level Sensors, Non-contact Level Sensors) - Growth, Future Prospects & Competitive Analysis, 2021 – 2029

14 Dec 2017 Format PDF icon PPT icon XLS icon Request Sample

Sensors are among the most important devices used across different industrial sectors. Level sensors refer to sensing devices that are used for measuring levels of flowing substances such as water, chemicals, slurries and several other fluids. Two primary types of sensing method include continuous level and point level sensing. As the names suggest, continuous sensors allow user to measure level continuously, whereas point level sensors are designed to provide level measurement at specific intervals. This makes level sensors suitable for a wide array of applications across different industry verticals. The level sensors market is majorly driven by the consistently growing industrial manufacturing & processing sector across the world. Asia Pacific has remained the front-runner in industrial manufacturing & processing sector growth since the past few years. Various countries such as China, India and some of the Southeast Asian countries have emerged as manufacturing hub over the past few years. Subsequently, demand for related process control & automation solutions (such as sensors) has risen substantially in the past few years. Apart from this, steady growth across the power & utilities and oil & gas industries is another prominent factor supporting the market growth. Driven by countries such as China, Japan, South Korea and India, Asia Pacific is set to continue as the most promising market for level sensors in the following years. 

The demand for level sensors is also driven by the growing process automation across different industrial applications. Increasing need for bolstering industrial productivity has forced several industrial sectors to incorporate safe and reliable process control systems. Level sensors help measuring accurate liquid levels, thereby reducing the possibilities of equipment damage and hazards in industrial manufacturing and processing. Due to increasing emphasis on process automation, several manufacturer are now focused towards development of intelligent sensing devices. These devices are designed to accurately measure fluid level as well as provide related analytical data. In addition, continual advancement in sensor designs is another important factor supporting the market growth. In the recent years, the overall sensors industry has witnessed remarkable shift towards microelectromechanical systems (MEMS) based sensors. Considering all of the aforementioned factors, level sensors market is set to exhibit robust growth over the forecast period.

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 and others. The overall market is quite fragmented in nature, with presence of numerous regional as well as international companies. One of the most prominent strategies adopted by the leading players is to emphasize on innovative design with minimized size.

On the basis of technology, the overall level sensors market is governed by the contact-based level sensors segment. In 2020, contact-based level sensors segment accounted for more than 65% of the overall market value worldwide. Being the oldest types of level sensors, contact-based sensors have witnessed strong penetration across a wide array of industrial applications. Majority of these sensors are used for point level sensing. Since point level sensing forms among the most popular methods of level measurement, contact-based level sensors witness stronger demand in the market. These sensors have simple design, low cost and offer robust accuracy. This makes contact-based level sensors suitable across numerous industrial applications.

In the following years, contact-based level sensors segment is set to retain its dominant position the overall market over the forecast period. However, non-contact level sensors segment is projected to exhibit higher growth in the market over the forecast period. Due to rising advancement in the overall wireless sensors industry, non-contact level sensors have witnessed increased importance over the period of time. These sensors offer higher life as compared to the contact-based counterparts as there is no wear and tear to the sensors and can be easily deployed in desired application area.

In 2020, the overall level sensors market was led by Asia Pacific region, contributing to more than 33% of the overall market value worldwide. Level sensors market is primarily governed by the industrial manufacturing & processing, automotive and oil & gas industry. Due to strong presence of the above mentioned industrial sectors, Asia Pacific has emerged as the most promising market for level sensors over the period of time.

The market here is majorly backed by China, Japan, South Korea and some of the Southeast Asian countries having huge industrial manufacturing & processing sector. Due to initiatives such as ‘Make in India’, the industrial manufacturing & processing sector in India is projected to witness robust growth in the following years. This would ensure Asia Pacific to retain its dominating position in the market throughout the forecast period.

Europe follows Asia Pacific in overall level sensors market. The overall market in Europe is prominently governed by the Western Europe countries. However, due to continued industrial growth in Asia Pacific, the region would demonstrate the highest growth in level sensors market in the following years.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Level Sensors market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Level Sensors market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Technology
  • Contact-based Level Sensors
  • Non-contact Level Sensors

Application
  • Manufacturing & Processing
  • Automotive
  • Oil & Gas
  • Healthcare
  • Consumer Electronics
  • Others

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Level Sensors market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Level Sensors market?
  • Which is the largest regional market for Level Sensors market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Level Sensors market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Level Sensors market worldwide?
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