The global level sensors market is garnering significant traction. With increasing applications of level sensors in defence, pharma, and O&G applications, the market is projected to create a substantial revenue pocket in future years. In this regard, Market Research Future (MRFR) asserts that the global level sensors market would reach exponential valuation by 2027, growing at a phenomenal CAGR during the review period (2020-2027).
Besides, the growth in IoT-based solutions drives the demand for level sensors excellently. Accurate and reliable liquid level measurement is essential in oil & gas, pharma & chemicals, and food & beverage production. Level sensors also demonstrate tremendous opportunities in environmental monitoring, such as pollution, water, and gas level measuring applications.
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High reliability & performance, compact size, and rapid data are additional advantages of level sensors. Additionally, the increasing integration of these sensors in vehicles defines the growing market landscape. On the flip side, complex design structure and lack of customization are some of the key factors affecting the growth of the level sensor market.
Nevertheless, substantial R&D investments and initiatives by public and private sectors in developing and improving level sensors and increasing product development & launches would support the market growth throughout the assessment period. Also, increasing uses of level sensors to measure embedded temperature, humidity, barometric pressure, illuminance, sound level, and acceleration sensors create vast market opportunities.
Global Level Sensor Market – Segmentation
The report is segmented into technologies, applications, and regions. The technology segment is sub-segmented into contact type and non-contact type. The sub-segment contact is further bifurcated as pneumatic, vibratory probe, magnetic & mechanical float, hydrostatic, magneto-strictive, guided wave, and others. Similarly, the sub-segment non-contact is bifurcated as ultrasonic, microwave/radar, micro-electro-mechanical system (MEMS), optical, laser, and others.
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The application segment is sub-segmented into automobile, consumer goods, industrial manufacturing, dry bulk, chemicals, pharmaceuticals, oil & gas, waste & water management, energy & power, healthcare, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Level Sensor Market – Geographical Analysis
North America accounts for the leading region in terms of the largest level sensors market share. Increased investments in developing new technologies and upgrade existing ones to converge with the surging demand for Industrial Internet of things (IIoT) are major Level sensor market trends.
Besides, rising applications of level sensors in aeronautics and air force to avoid air-collision, detecting small, low-flying drones that radars can’t see, boosts market size. Stringent government regulations towards vehicle emission and environment protection further influence the market growth.
Level Sensor Market – Competitive Landscape
Highly competitive, the level sensor market appears to be fragmented due to the presence of several well-established players. These players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and product/ technology launch to maintain their positions and gain a competitive advantage in this market.
Key players leading the global level sensor market include Siemens AG (Germany), Texas Instruments Incorporated (US), Fortive Corporation (US), First Sensor AG (Germany), Honeywell International Inc. (US), ABB Ltd. (Switzerland), KROHNE Messtechnik GmbH (Germany), Vega Grieshaber KG (Germany), Nohken, Inc. (Japan), Pepperl+Fuchs GmbH (Germany), TE Connectivity Ltd. (Switzerland), Endress+Hauser AG (Switzerland), and AMETEK, Inc. (US), among others.
Industry/ Innovation/ Related News
July 07, 2021 — Bentley Systems, Incorporated (the US), the infrastructure engineering software company, announced the acquisition of a Danish geophysical software developer Aarhus GeoSoftware (Denmark), by its Seequent business unit. The acquisition extends Seequent’s solutions for operational groundwater management and sustainability projects involving exploration, contaminants, and infrastructure resilience.
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