CHICAGO, Nov. 27, 2020 /PRNewswire/ -- The report "Level Sensors Market by Technology (Contact, Non-Contact), Type (Ultrasonic, Hydrostatic, Magnetostrictive), Monitoring (Continuous, Point Level), End-use Application (Industrial Manufacturing, Oil & Gas, Chemical), and Geography - Global Forecast to 2025",published by MarketsandMarkets, the Level Sensor Market is projected to reach USD 6.1 billion by 2025 from USD 4.3 billion in 2020, it is expected to grow at a CAGR of 7.5% from 2020 to 2025. Factors such as the reduction in the size of sensors, rising adoption of level sensors in process industries, and rising use of IIoT solutions, stable vehicle production worldwide drive the growth of the level sensors market. Rising adoption of industry 4.0 and increasing use of level sensors in environmental applications would provide significant opportunities for the level sensors market.
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Based on technologies, the non-contact segment of the level sensors market is projected to grow at the highest CAGR from 2020 and 2025.
Based on technology, non-contact level sensors are expected to grow at the fastest rate in the level sensors market. While contact level sensors enjoy widespread penetration across several industry verticals and products, they are slowly being replaced by non-contact level sensors, as the latter is more accurate and sophisticated and uses electronic technologies such as capacitive, conductivity, and ultrasonic.
Based on types, the ultrasonic segment of the level sensors market is projected to grow at the highest CAGR from 2020 and 2025.
Based on types, the ultrasonic level sensors are expected to grow at the fastest rate. Based on type, the ultrasonic sensors market segment is expected to hold the largest share as well as grow at the fastest rate during the forecast period. The ultrasonic level sensor is a non-contact type level sensor that is widely used across industries such as oil & gas, industrial manufacturing, chemical, and energy & power, among others. Since ultrasonic sensors do not have any moving parts, they can measure levels without making any physical contact with the object, making them ideal for adoption in the oil & gas, chemicals, and pharmaceutical industries, among others
Based on monitoring types, the point level monitoring segment of the level sensors market is projected to grow at the highest CAGR from 2020 and 2025.
Based on monitoring types, the level sensors market has been segmented into point level monitoring and continuous level monitoring. Point level monitoring sensors detect when the substance being measured reaches a predefined limit. A sensor that is designed for point level detection will detect the medium at a certain point in the container. The major applications of point level detection lie in process tanks, storage tanks, silos, and pipelines in the process industry. Vibratory probe, rotating paddle, and admittance type level sensors are used for the monitoring of solids, whereas magnetic & mechanical float, pneumatic, and conductive level sensors are used for monitoring liquids.
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Based on end users, the industrial manufacturing segment of the level sensors market is projected to grow at the highest CAGR from 2020 and 2025.
Based on end-users, the level sensors market has been segmented into consumer goods, industrial manufacturing, oil & gas, energy & power, chemical, pharmaceutical, wastewater, healthcare, and others. The major users of these level sensing technologies are process industries. The end-users of level sensors are diverse in terms of the nature of their business and the type of application being measured. The major end-users in the level sensors market are the industrial, power, automotive, and consumer sectors.
The level sensors market in APAC is projected to grow at the highest CAGR from 2020 to 2025.
The level sensors market has been studied for North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). The market in APAC is expected to grow at the highest CAGR between 2020 and 2025. Government initiatives and an extensive industrial base are the major factors that make APAC a dynamic region for level sensors, with China and India being the major contributors to the market in APAC.
ABB (Switzerland), Emerson (US), Endress+Hauser (Switzerland), Vega Grieshaber KG (Germany), Siemens (Germany), Honeywell (US), AMETEK (US), Schneider Electric (France), TE Connectivity (Switzerland), Gems Sensors (US) are some of the key players operating in the level sensors market.
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