Global Level Sensors Market Size, Trends & Growth Opportunity, By Technology (Contact, Non-contact), By Type By Monitoring Type (Continuous Level Monitoring, and Point Level Monitoring), By End User, By Region and Forecast till 2027.
Level Sensors Market
Global Level sensors Market was valued at US$ 5,030.29 Mn in 2020, estimated to reach US$ 8,800.25 Mn in 2027, with a CAGR of 7.69% from 2021-2027.
Level sensors detect the level of liquids and other fluids as well as fluidized solids, including slurries, granular materials, and powders that exhibit an upper free surface.
Market Drivers: Reduction in size of sensors
Growing technological developments in the last decade have led to a considerable reduction in the size of level sensors, which has played an important role in the growth of the global level sensors market.
The reduction in size & the increase in penetration of MEMS technology in the level sensors industry have created a wide horizon of applications for level sensors in industries such as automotive, healthcare, industrial chemicals (resins, effluents), aerospace & defense, petrochemicals, construction & building, water & wastewater, energy & clean-tech, mining, paper, pulp & forestry, plastics, sludge & slurry, and food & beverage.
Further, growing use of smart sensors capable-of two-way communication and self-diagnosis is expected to boost the global level sensors market over the forecast period.
Market Challenges: Increasing competition among Key Players
The increase in competition between key market players is expected to hinder the global level sensors market over the forecast period.
These key players acquire level sensors technology manufactures/ small-scale level sensors manufacturers that have expertise in a particular technology, a strong geographic presence, and a well-established sales network.
Also, these key players implement strong communication protocols like HART, Profibus, and Fieldbus into their level sensor technologies in order to ensure compliance with certain industrial certifications.
Further, the increase in the adoption of thin-film technology may hinder the global level sensors market over the forecast period.
Market Opportunities: Growing adoption of level sensors
The increase in adoption of level sensors in several sectors such as residential, industrial manufacturing, chemicals, and pharmaceuticals is expected to create opportunity for the market growth.
Also, fast industrial growth, the presence of a huge number of mining, refineries, automotive industries, petrochemical processing facilities, offer notable growth opportunities for the level sensors market in near future.
Furthermore, the increase in adoption of industry 4.0 will create lucrative opportunities for the level sensor market growth. Industry 4.0 introduced smart manufacturing processes that leverage cyber-cyber-physical systems to monitor the physical processes of a factory & make decentralized decisions.
The physical systems become the Internet of Things, communicating & coordinating both, with each other and with humans in real time through the wireless web. With the emergence of Industry 4.0, manufacturers need to adopt digital processes to survive in the increasingly competitive market.
Impact of COVID-19 on Level Sensors Market
The COVID-19 outbreak is speeding up the adoption of Industry 4.0, leading enterprises across industries into a more sophisticated state of the Internet of Things technology & workflow using sensors which influence production, maintenance with modified service intervals, human resources with new job requirements, and marketing with new & detailed knowledge of customers’ individual use cases.
Global Level Sensors Market, By Technology
Among the technology segment, contact level sensors segment is expected to drive the market demand for level sensor market, and would grow at a CAGR of 7.76 % during the forecast period.
Global Level Sensors Market, By Type
By Type, Ultrasonic Level Sensor is expected to dominate the level sensors Market throughout the forecast period, and is estimated to account for 21.81% of the market share in 2020.
Global Level Sensors Market, By Monitoring Type
By Monitoring Type, Continuous Level Monitoring is expected to dominate the market during the forecast period.
Global Level Sensors Market, By End User
In the End User Industrial segment is expected to dominate the level sensors Market throughout the forecast period, and is estimated to account for 14.42% of the market share in 2020.
Global Level Sensors Market, By Region
The market in APAC is projected to dominate the Level Sensors market due to rise in demand for level sensors in the region.
Furthermore, North America is anticipated to witness noteworthy growth primarily due to the rising scope of product application in consumer, healthcare, pharmaceutical, Chemical, industrial, automotive industries.
In December 2020: Honeywell agreed to acquire Sparta Systems (a provider of enterprise management software for the life sciences industry) from New Mountain Capital in an all-cash transaction valued at $1.3 billion. The deal will be reported in the performance materials and technologies segment and is expected to close in 2021.
ABB, Emerson, Vega Grieshaber KG, Endress+Hauser, Siemens, Ametek, Honeywell, Schneider Electric, TE Connectivity, Gems Sensors, etc.
Global Level sensors Market was valued at US$ 5,030.29 Mn in 2020, estimated to reach US$ 8,800.25 Mn in 2027, with a CAGR of 7.69% from 2021-2027.
Level sensors detect the level of liquids and other fluids as well as fluidized solids, including slurries, granular materials, and powders that exhibit an upper free surface.
Market Drivers: Reduction in size of sensors
Growing technological developments in the last decade have led to a considerable reduction in the size of level sensors, which has played an important role in the growth of the global level sensors market.
The reduction in size & the increase in penetration of MEMS technology in the level sensors industry have created a wide horizon of applications for level sensors in industries such as automotive, healthcare, industrial chemicals (resins, effluents), aerospace & defense, petrochemicals, construction & building, water & wastewater, energy & clean-tech, mining, paper, pulp & forestry, plastics, sludge & slurry, and food & beverage.
Further, growing use of smart sensors capable-of two-way communication and self-diagnosis is expected to boost the global level sensors market over the forecast period.
Market Challenges: Increasing competition among Key Players
The increase in competition between key market players is expected to hinder the global level sensors market over the forecast period.
These key players acquire level sensors technology manufactures/ small-scale level sensors manufacturers that have expertise in a particular technology, a strong geographic presence, and a well-established sales network.
Also, these key players implement strong communication protocols like HART, Profibus, and Fieldbus into their level sensor technologies in order to ensure compliance with certain industrial certifications.
Further, the increase in the adoption of thin-film technology may hinder the global level sensors market over the forecast period.
Market Opportunities: Growing adoption of level sensors
The increase in adoption of level sensors in several sectors such as residential, industrial manufacturing, chemicals, and pharmaceuticals is expected to create opportunity for the market growth.
Also, fast industrial growth, the presence of a huge number of mining, refineries, automotive industries, petrochemical processing facilities, offer notable growth opportunities for the level sensors market in near future.
Furthermore, the increase in adoption of industry 4.0 will create lucrative opportunities for the level sensor market growth. Industry 4.0 introduced smart manufacturing processes that leverage cyber-cyber-physical systems to monitor the physical processes of a factory & make decentralized decisions.
The physical systems become the Internet of Things, communicating & coordinating both, with each other and with humans in real time through the wireless web. With the emergence of Industry 4.0, manufacturers need to adopt digital processes to survive in the increasingly competitive market.
Impact of COVID-19 on Level Sensors Market
The COVID-19 outbreak is speeding up the adoption of Industry 4.0, leading enterprises across industries into a more sophisticated state of the Internet of Things technology & workflow using sensors which influence production, maintenance with modified service intervals, human resources with new job requirements, and marketing with new & detailed knowledge of customers’ individual use cases.
Global Level Sensors Market, By Technology
Among the technology segment, contact level sensors segment is expected to drive the market demand for level sensor market, and would grow at a CAGR of 7.76 % during the forecast period.
Global Level Sensors Market, By Type
By Type, Ultrasonic Level Sensor is expected to dominate the level sensors Market throughout the forecast period, and is estimated to account for 21.81% of the market share in 2020.
Global Level Sensors Market, By Monitoring Type
By Monitoring Type, Continuous Level Monitoring is expected to dominate the market during the forecast period.
Global Level Sensors Market, By End User
In the End User Industrial segment is expected to dominate the level sensors Market throughout the forecast period, and is estimated to account for 14.42% of the market share in 2020.
Global Level Sensors Market, By Region
The market in APAC is projected to dominate the Level Sensors market due to rise in demand for level sensors in the region.
Furthermore, North America is anticipated to witness noteworthy growth primarily due to the rising scope of product application in consumer, healthcare, pharmaceutical, Chemical, industrial, automotive industries.
Recent Developments:
In December 2020: Honeywell agreed to acquire Sparta Systems (a provider of enterprise management software for the life sciences industry) from New Mountain Capital in an all-cash transaction valued at $1.3 billion. The deal will be reported in the performance materials and technologies segment and is expected to close in 2021.
Key Players
ABB, Emerson, Vega Grieshaber KG, Endress+Hauser, Siemens, Ametek, Honeywell, Schneider Electric, TE Connectivity, Gems Sensors, etc.
Market Taxonomy
By Technology
- Contact
- Non- Contact
By Type
- Magnetostrictive
- Vibratory Probe
- Hydrostatic
- Magnetic & Mechanical Float
- Pneumatic
- Guided Wave Level Sensor
- Ultrasonic Level Sensor
- Ultrasonic Level Sensor Range
- Short Range Ultrasonic Level Sensors
- Medium Range Ultrasonic Level Sensors
- Long Range Ultrasonic Level Sensors
- Ultrasonic Level Sensor Technology
- Continuous Ultrasonic Level Sensors
- Point Ultrasonic Level Sensors
- Microwave/Radar
- Optical
- Laser
- Laser Sensor Type
- Compact
- Ultra-Compact
- Others
By Monitoring Type
- Continuous Level Monitoring
- Point Level Monitoring
By End user
- Consumer
- Energy & Power
- Automotive
- Healthcare
- Oil & Gas
- Chemical
- Pharmaceutical
- Pulp & Paper
- Industrial
- Cement
- Water & Wastewater
- Food & Beverages
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Level Sensors Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Frequently Asked Questions about the Level Sensors Market
What is the estimated value of the Level Sensors Market?
What is the growth rate of the Level Sensors Market?
What is the forecasted size of the Level Sensors Market?
Who are the key companies in the Level Sensors Market?
| Report Attribute | Details |
|---|---|
| No. of Pages | 185 |
| Published | October 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 5030.29 Million |
| Forecasted Market Value ( USD | $ 8800.25 Million |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
1 Introduction
2 Research Methodology
4 Global Level Sensors Market Outlook
5 Global Level Sensors Market, By Technology
6 Global Level Sensors Market, By Type
7 Global Level Sensors Market, By Monitoring Type
8 Global Level Sensors Market, By End User
9 Global Level Sensors Market, By Region
10 North America Level Sensors Analysis and Forecast (2021 - 2027)
11 Europe Level Sensors Market Analysis and Forecast (2021 - 2027)
12 Asia Pacific Level Sensors Market Analysis and Forecast (2021 - 2027)
13 Latin America Level Sensors Market Analysis and Forecast (2021 - 2027)
14 Middle East Level Sensors Market Analysis and Forecast (2021 - 2027)
15 Competitive Analysis
16 Company Profiles
Companies Mentioned
- ABB
- Emerson
- Vega Grieshaber KG
- Endress+Hauser
- Siemens
- Ametek
- Honeywell
- Schneider Electric
- TE Connectivity
- Gems Sensors
