According to the latest report by IMARC Group, titled "Level Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global level sensor market grew at a CAGR of around 8% during 2014-2019. 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.
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Global Level Sensor Market Trends:
The market is primarily driven by the increasing adoption of the Industrial Internet of Things (IIoT) and the advent of Industry 4.0. 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. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2020-2025.
- On the basis of the technology, the market has been bifurcated into contact and non-contact level sensors.
- Based on the monitoring type, the market has been divided into continuous and point level monitoring.
- On the basis of the application, the market has been classified into oil and gas, chemicals and pharmaceuticals, energy and power, mining and metal processing, food and beverage, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ABB Ltd, Ametek Inc., Emerson Electric Co., Endress+Hauser Group Services AG, Fortive Corporation, Honeywell International Inc, MTS Systems Corporation, Siemens Aktiengesellschaft, TE Connectivity Ltd., Texas Instruments Incorporated, and VEGA Grieshaber KG.
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