Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on Level Sensors Market Research Report.
Level sensors are devices that are utilized to detect the level of liquids, fluids and powders. Market Research Future (MRFR) has published a report stating that the global level sensors market is marked to expand at a noteworthy CAGR of 9% during the forecast period of 2017-2023.
Various industries are relying on advanced level sensors for supervising and monitoring fluid levels. With the development of digital sensors and smart sensors that are compact in size and are available at low cost, the adoption of advanced level sensors has increased significantly, which in turn is propelling the growth of the global level sensors market. The incorporation of nano-technology is enhancing the sensitivity and functioning ability of level sensors, resulting in the expansion of the global level sensors market.
Widespread application of level sensors in water and wastewater management plants, oil and gas industries, medical, automotive and printing sectors is fueling the expansion of the global level sensors market. Increasing adoption of advanced tools and techniques in manufacturing industry and food and beverages industry is impacting positively on the expansion of the global level sensors market. Increasing demand for level sensors in chemical industry for higher accuracy and precision and in automotive industry for detection of fuel level in vehicles are some of the other drivers that are leading to the expansion of the global level sensors market during the forecast period.
The global level sensor market has been segmented on the basis of technology and application. Based on technology, the level sensor market has been segmented into contact type and non-contact type. The contact type segment is sub-segmented into pneumatic, vibratory probe, hydrostatic, magnetic & mechanical float, magnetostrictive, and guided wave. The non-contact type segment has been sub-segmented into ultrasonic, microwave/radar, optical, laser, micro-electro-mechanical system (MEMS), and others. Based on application, the level sensor market has been segmented into consumer goods, automobile, industrial manufacturing, chemicals, dry bulk, pharmaceuticals, waste and water management, oil and gas, energy and power, and healthcare.
Geographically, the global level sensor market has been segmented into five major regions such as Asia Pacific, North America, Europe and the Middle East and Africa. The North America region is anticipated to project dominance over the global level sensors market. The level sensor market in this region is majorly driven by increased investment for the advancement of existing technology and rapid adoption of industrial IoT in this region. The Asia Pacific region is anticipated to expand at a comparatively faster growth rate in the global level sensors market owing to the presence of large pool of electronic devices manufacturers in the emerging economies of this region. The level sensors market in the Europe region is projecting substantial growth in the global level sensors market owing to the easy adoption of technologically advanced sensors in various end-use industries of this region.
The players in the global level sensors market are focusing on business expansion on a global scale by increasing the research and development investments for introduction of advanced products and strategically planning mergers and acquisitions in order to sustain the competitive environment of the global level sensors market.
The major players profiled by MRFR in the report on the global level sensor market are Texas Instruments Incorporated (the U.S.), Siemens AG (Germany), Fortive Corporation (the U.S.), Honeywell International Inc. (the U.S.), First Sensor AG (Germany), ABB Ltd. (Switzerland), Vega Grieshaber KG (Germany), KROHNE Messtechnik GmbH (Germany), Nohken, Inc. (Japan), TE Connectivity Ltd. (Switzerland), Pepperl+Fuchs GmbH (Germany), AMETEK, Inc. (the U.S.), Endress+Hauser AG (Switzerland) and others.
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