The global level sensor market is expected to generate revenue worth $4,446.90 million in 2019, and is projected to reach $7,368.10 million by 2026, to register a CAGR of 6.50% during the forecast period. Level sensor is a device that determines the level of fluids or other substances that flow in an open or closed system. There are two types of level measurements, namely, continuous and point level measurements. Continuous level sensors are used to measure levels to a specific limit, but they provide accurate results, whereas, point level monitoring sensors determine the level of fluid above or below a specific point. Level sensors detect the level of fluid or substance by establishing contact or either by non-contact technologies such as ultrasonic, radar, and other such methods.
Factors such as emerging advancement of level sensors, rapid adoption of industrial automation, and rise in use of level sensors in the energy & power industry drive the market. However, lack of precision and accuracy of level sensors and an increase in the adoption of electric vehicles hamper the market. Furthermore, the growth in the use of level sensors in the residential sector is expected to create lucrative opportunities for level sensors during the forecast period.
The market is segmented into type, application, end use, and region. By type, it is bifurcated into contact and non-contact level sensors. By application, it is divided into continuous level monitoring and point level monitoring. The end use segment is divided into automotive, aerospace & defense, energy and power, healthcare, industrial, and others. Region-wise, it is analyzed across North America, Europe, and LAMEA. In 2018, the contact level sensor segment dominated the market in terms of revenue, owing to its cost-effectiveness compared to continuous level monitoring.
The application covered in the study include point level monitoring and continuous level monitoring. The point level sensor is sub-segmented into capacitance, optical, conductivity, and vibrating and float switch. The continuous level monitoring is further divided into ultrasonic and RADAR. In 2018, the point level monitoring dominated the global market, in terms of revenue, and is expected to secure a leading position during the forecast period.
The global level sensor market report provides a comprehensive analysis of major market players such as ABB Ltd., AMETEK Inc., Emerson Electric Co., Endress+Hauser Management AG, Honeywell International Inc., Siemens AG, Taiwan Semiconductor Manufacturing Company Limited, TE Connectivity, Texas Instruments, and Vega Grieshaber Kg. Major companies adopt product launch as their key developmental strategies, which held in the advancements of the level sensor technology, thereby boosting the growth of the global market.
KEY MARKET SEGMENTS
By Type
Contact
- Float Switches
- Conductive Level Switches
- Vibrating Forks
- Others
Non-Contact
- Ultrasonic
- Optical Level
- Microwave
- Laser
By Application
Point Level Monitoring
- Capacitance
- Optical
- Conductivity
- Vibrating (Tuning Fork)
- Float Switch
Continuous Level Monitoring
- Ultrasonic
- Radar (Microwave)
By End Use
- Automotive
- Aerospace & Defense
- Energy & Power
- Healthcare
- Industrial
- Others
By Region
North America
- U.S.
- Mexico
- Canada
Europe
- UK
- Germany
- Italy
- France
- Rest of Europe
Asia-Pacific
- China
- Japan
- Australia
- India
- Rest of Asia-Pacific
LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB Ltd.
- AMETEK Inc.
- Emerson Electric Co.
- Endress+Hauser Management AG
- Honeywell International Inc.
- Siemens AG
- Taiwan Semiconductor Manufacturing Company Limited
- TE Connectivity
- Texas Instruments
- Vega Grieshaber Kg
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Level Sensor Market, By Type
Chapter 5: Level Sensor Market, By Application
Chapter 6: Level Sensor Market, By End Use
Chapter 7: Level Sensor Market, By Region
Chapter 8: Competitive Landscape
Chapter 9: Company Profiles: Auto Makers
Executive Summary
According to the report, titled, 'Level Sensor Market by Type, Application, and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global level sensor market was valued at $4.44 billion in 2018, and is projected to reach $7.36 billion by 2026, registering a CAGR of 6.50% from 2019 to 2026. In 2019, Asia Pacific dominated the market, contributing more than a 53.5% share of the overall revenue, followed by North America. Emerging advancements of level sensors, rapid adoption of industrial automation, rise in use of level sensors in the energy & power industry fuels the growth of the global level sensor market.Level sensor is a device that determines the level of fluids or other substances that flow in an open or closed system. There are two types of level measurements, namely, continuous and point level measurements. Factors such as emerging advancement of level sensors, rapid adoption of industrial automation, and rise in use of level sensors in the energy & power industry drive the market. However, lack of precision and accuracy of level sensors and increase in the adoption of electric vehicles hamper the market. Furthermore, the growth in the use of level sensors in the residential sector is expected to create lucrative opportunities for level sensor market during the forecast period.
Continuous level sensors are installed to measure the level within a specified range and determine an exact amount of substance. They are used in applications such as deriving flow rates, inventory management, batching, and dosing processes and provide safety and easy installation. Further, advancements and developments of continuous level sensors has constructed robust and more accurate designs for low maintenance and better reliability than previous versions.
The contact level sensor segment accounted for a significant share of the overall level sensor industry in 2018. This is attributed to the precision and low cost of these sensors in industrial applications. However, the non-contact level sensor segment is estimated to grow significantly at a CAGR of 8.20% during the level sensor market forecast period, due to increase in installation of non-contact level sensors, as many renowned companies are launching advanced technology non-contact level sensors.
Among various regions, Asia-Pacific is expected to be the major revenue generator in 2019 and is expected to maintain its dominance in the overall level sensor market size. This is attributed to the rise in industrial sector and its automation and act as major level sensor market trends globally.
Asia-Pacific is projected to grow at the fastest rate throughout the level sensor market analysis period, China in this region witnessed the highest demand for level sensors, due wide presence of semiconductor companies in the country and stringent government regulations associated with level sensors. Moreover, enhancement in industrial autonomy and increase in expenditure in the emerging markets such as Latin America and the Middle East to meet demand for exponentially growing economies in these countries have strengthened the level sensor market growth. Furthermore, technological advancements for cost-effective and high precision applications in these nations offer lucrative opportunity for the expansion of the level sensor market share.
The market is segmented into type, application, end use, and region. By type, it is bifurcated into contact and non-contact level sensors. By application, it is divided into continuous level monitoring and point level monitoring. The end use segment is divided into automotive, aerospace & defense, energy and power, healthcare, industrial, and others. Region-wise, it is analyzed across North America, Europe, and LAMEA. In 2018, the contact level sensor segment dominated the market in terms of revenue, owing to its cost-effectiveness compared to continuous level monitoring.
Key Finding of The Level Sensor Market:
The point level sensor segment accounted for the highest share of the market in 2018 with $2.62 billion, growing at a CAGR of 8.00% from 2019 to 2026.
The energy & power industry generated the highest revenue, accounting for $1.10 billion in 2018.
Asia-Pacific is expected to dominate the market, garnering 23.60% of the share during the forecast period.
The report provides a comprehensive analysis of the major market players such as ABB Ltd., AMETEK Inc., Emerson Electric Co., Endress+Hauser Management AG, Honeywell International Inc., Siemens AG, Taiwan Semiconductor Manufacturing Company Limited, TE Connectivity, Texas Instruments, and Vega Grieshaber Kg.
Companies Mentioned
- ABB Ltd.
- AMETEK Inc.
- Emerson Electric Co.
- Endress+Hauser Management AG
- Honeywell International Inc.
- Siemens AG
- Taiwan Semiconductor Manufacturing Company Limited
- TE Connectivity
- Texas Instruments
- Vega Grieshaber Kg
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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