| Status : Published | Published On : Jan, 2024 | Report Code : VRSME9085 | Industry : Semiconductor & Electronics | Available Format :
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Page : 250 |
Global Level Sensor Market – Analysis and Forecast (2025-2030)
Industry Insight by Technology (Contact Level Sensors (Guided Wave, Magnetostrictive, Hydrostatic, Magnetic & Mechanical Float, Pneumatic, and Others) and Non-Contact Level Sensors (Ultrasonic, Microwave/Radar, and Others)), by Monitoring Type (Continuous Level Monitoring and Point Level Monitoring (Capacitance, Optical, Conductivity, Vibrating (Tuning Fork), and Float Switch)), by Industry Vertical (Food & Beverage, Power Generation, Mining and Metal Processing, Automobile, Aerospace & Defense, Energy & Power, Healthcare, Industrial Manufacturing, Oil & Gas, Water and Wastewater, Chemical, Consumer, and Others), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)
Industry Overview
The Global Level Sensor Market is expected to witness significant growth on a global scale, with a projected increase from USD 4.8 billion in 2023 to USD 8.6 billion by 2030. This growth is estimated to occur at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period spanning from 2025 to 2030.
The level sensor is a device that is used in monitoring, managing, and measuring liquids and determines the level of fluids or other substances that flow in an open or closed system. The increased digitalization and adoption of different intelligent devices have hiked the level sensor market and the increase is steady. The mounting industrial automation and development of miniaturization technology in electronic devices will lead to the adoption of level sensors in different industry verticals, resulting in the growth of the market. Some industries using the device are food and beverages, oil and gas, consumer goods, industrial manufacturing, etc. The level sensors detect precise and accurate leakage and their application is critical in the automobile industry. Level sensors are widely applied to measure water level, tank level, distance range, and object revelation, as well as wireless level monitoring in hydraulic places and as cooling circuits in nuclear power plants.
The COVID-19 outbreak has affected the global economy and has reduced operations, temporary factory closures, and import-export ban. Thus, there is a disruption in the global supply chain that has reduced production and decreased spending for new measurement systems and sensors.
Market Segmentation
Insight by Technology
The global level sensor market is divided by technology into contact-level sensors and non-contact-level sensor segments. The former is further sectioned into the guided wave, magnetostrictive, hydrostatic, magnetic & mechanical float, pneumatic, and other segments. The non-contact level sensors segment, on the other hand, is subdivided into ultrasonic, microwave, or radar, and other segments and is expected to grow higher.
Insight by Monitoring Type
According to the monitoring type, the global level sensors market is also divided into continuous level monitoring and point level monitoring segments. The point level monitoring is subdivided into capacitance, optical, conductivity, vibrating, and float switch segments. The continuous level monitoring segment is, however, expected to grow at a higher rate during the forecast period due to higher adoption in measuring and monitoring levels of liquids.
Insight by Industry Vertical
According to the industry vertical, the global level sensor market is divided into food & beverage, power generation, mining and metal processing, automobile, aerospace & defense, energy & power, healthcare, industrial manufacturing, oil & gas, water and wastewater, chemical, consumer, and other segments. Out of all these segments, the oil & gas segment is expected to grow at a higher rate during the forecast period due to the growing demand for level sensors for monitoring storage and downstream processing plants. Moreover, the growing production of crude oil in different countries also increases its growth prospects. In the automobile segment, there is a growing adoption of these sensors to measure the volume of fuel in the tank, windshield cleaning liquid, power steering liquid, cooling water, and engine oil.
Global Level Sensor Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 4.8 Billion |
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Revenue Forecast in 2030 |
U.S.D. 8.6 Billion |
|
Growth Rate |
7.6% |
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Segments Covered in the Report |
By Technology, By Monitoring Tye and By Industry Vertical. |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, and Rest of the World |
Industry Dynamics
Industry Trends
A growing adoption of Industry 4.0 practices has been noticed, which paves the way for higher usage of level sensors. The growing investment in smart city development is also a notable trend that has pushed the use of these sensors to detect the flow of water bodies and sewage. In addition, increased R&D activities to design innovative digital sensors and the growing adoption of contactless technologies due to strict government regulations and rising environmental concerns are also a few significant trends prevailing in the level sensor market.
Growth Drivers
The global level sensor market is primarily growing due to the compact size and higher efficiency of the sensors. The compact size adds to its versatility in application, and the tech integration offers more precision, both driving the market growth significantly. The cost-effectiveness of these sensors has also resulted in higher adoption and growth, just as the rising popularity of IIoT and the production of vehicles have. The rising demand for home automation and consumer convenience will also propel the market growth.
Challenges
The major players competing with each other to produce high-quality products is hampering the market growth. In addition, the growing adoption of thin-film technology also hinders market growth, just as the growing concerns over privacy and security. Furthermore, the cost of integration is also quite high thereby affecting the market growth apart from the fact that deploying these sensors in the system-on-chip (SoC) does not offer the desired reliability and scalability.
Opportunities
The growth opportunities for the global level sensor market are presented by the advent of nano-enabled sensors and the technological advancement in accessing digital-level sensors.
Geographic Overview
North America leads the market due to the presence of a large number of manufacturers. It is also attributed to the significant rise in drilling activities within the oil & gas reserves in the region.
The APAC region is also expected to grow at a higher rate during the forecast period due to the large number of mining, petrochemical processing, refineries, automotive, and pharmaceutical industries that need to use these level sensors. The steady supply from countries like China, Korea, and Japan helps cater to the high demand for these sensors, which fuels the market growth further.
Competitive Insight
The industry players in the level sensor market are adopting strategies like M&A, product launch, and expansion, to expand their product portfolio. Prominent players like ABB, Siemens, Endress +Hauser, Emerson, and Honeywell, have captured a large share of the global market. These players obtain crucial level sensor technology. The small-scale level sensor producers have expertise in a specific technology, have a distinct geographical presence, and good marketing network.
ABB is one of the market leaders in level measurement. The range of level sensors and level transmitters offers solutions for the most complex level applications. It has one of the largest agency-approved level switch technologies such as the K-TEK level products line provides solutions in difficult liquid and solid level applications.
Emerson is focused on two business platforms i.e., automation solutions and commercial & residential solutions, and includes developed technologies to create sustainable solutions for customers. Emerson's extensive range of devices for liquids and solids measurement include point level detection to stimulate continuous level, interface, and volume measurement, even in extreme conditions For instance, Emerson's Rosemount level measurement technologies will optimize processes, plan for maintenance, predict, and correct issues before they become problems. Their product portfolio includes continuous level measurement, point level detection, solids measurement, hygienic and sanitary level measurement, and accessories and spare parts.
Some of the key players operating in the level sensor market are ABB, Emerson Electric Co., AMETEK.Inc., Honeywell International Inc., TE Connectivity, Fortive, Siemens, Vega Grieshaber KG, Endress+Hauser Group Services AG, and SICK AG.
Recent Developments by Key Players
Mahindra & Mahindra has selected ABB's innovative PixelPaint technology for its new electric vehicle paint facility. The technology, which uses an award-winning paint head similar to an inkjet printer, shall begin serial production by 2025.
Connectivity is expanding its line of VITA 66 optical backplane interconnects with the new VITA 66.5 Style D optical modules, which it describes as high-density modules that enable a rugged, blind-mate optical interconnect solution for defense, marine, and aerospace applications including avionics, secure communications, radar, and imaging systems.
The Level Sensor Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Technology
- Contact Level Sensors
- Guided Wave
- Magnetostrictive
- Hydrostatic
- Magnetic & Mechanical Float
- Pneumatic
- Others
- Non-Contact Level Sensors
- Ultrasonic
- Microwave/Rada
- Others
- Contact Level Sensors
- By Monitoring Type
- Continuous Level Monitoring
- Point Level Monitoring
- Capacitance
- Optical
- Conductivity
- Vibrating (Tuning Fork)
- Float Switch
- By Industry Vertical
- Food & Beverage
- Power Generation
- Mining and Metal Processing
- Automobile
- Aerospace & Defense
- Energy & Power
- Healthcare
- Industrial Manufacturing
- Oil & Gas
- Water and Wastewater
- Chemical
- Consumer
- Others
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
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Level Sensor Market