Level Sensors Market a CAGR of 5.7% To Reach USD 5.9 Billion by 2023


Posted July 9, 2019 by Pankajraj

The overall level sensor market is expected to grow from USD 4.0 billion in 2018 to USD 5.9 billion by 2025; it is estimated to grow at a CAGR of 5.7% during the forecast year.

 
According to the new research report, "Level Sensor Market by Technology (Contact and Non-contact); monitoring type (Continuous level and Point level); End users (industrial manufacturing, consumer goods and wastewaters) and Geography (North America and APAC) - Global Forecast to 2025", is expected to grow from USD 4.0 billion in 2018 to USD 5.9 billion by 2025; it is estimated to grow at a CAGR of 5.7% during 2019–2025. Increasing advancement toward smaller, smarter and cheaper sensors; supportive government regulations; rise in vehicle production; increasing advancement of the Industrial Internet of Things (IIoT), and growing adoption of level sensors in the healthcare end-use application are some of the major factors fueling the growth of this market.

Based on technology, market for non-contact level sensor is expected to gain largest share of Level Sensor Market by 2025

Market for non-contact level sensors is expected to gain the largest share of the Level Sensor Market by 2025. The leading position of the market for these sensors can be attributed owing to the increasing adoption of non-contact level sensors in various end-use applications such as wastewater or water, mining, and power stations. The noncontact level sensors are replacing contact level sensors because of their greater accuracy, flexibility in level sensing, and measurement.

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Based on monitoring type, point level monitoring to grow at highest CAGR from 2019 to 2025

The market for point level monitoring is expected to grow at a highest CAGR from 2019 to 2025. Level sensors with point level monitoring are economically priced and easy to install and setup. These level sensors find their applications in overfill protection, high and low-level alarms, pump control, dry-run protection for pumps, and leakage detection in double containment piping systems or double-wall tanks

Based on end use applications, Level Sensor Market for industrial manufacturing to grow at highest CAGR from 2019 to 2025

Industrial manufacturing industry is expected to grow at a highest CAGR from 2019 to 2025 than that of consumer goods industry. The leading position is due to rise in the adoption of automated machinery and processes. Major applications of level sensors such as manufacturing and process industries, semiconductor manufacturing, automotive manufacturing, and aerospace and defense manufacturing are a vital part of industrial manufacturing.

Level Sensor Market in APAC to grow at highest CAGR during forecast period

The Level Sensor Market in APAC is expected to grow at the highest CAGR during the forecast period. The region’s huge population, high industrial growth in developing countries like China and India, government initiatives and extensive industrial base are the major factors that make APAC a dynamic region for level sensor, with India and China being the major contributors.

Key players in the market include ABB (Switzerland), Emerson Electric Co. (US), Endress+Hauser AG (Switzerland), Vega Grieshaber KG (Germany) and Siemens AG (Germany). These players are increasingly undertaking product launches, mergers, and acquisitions to increase their market shares.

Don’t miss out on business opportunities in Level Sensor Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
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Last Updated July 9, 2019