NEW YORK, March 8, 2016 /PRNewswire/ -- The overall level sensors market is expected to reach USD 4.89 billion by 2022, at a CAGR of 5.4% between 2016 and 2022. The increasing government regulations for controlling pollution, gradual decrease in sensor sizes, increasing production of vehicles, and the economic growth of Asian countries such as China and India are the major factors driving the growth of this market.
"Industrial manufacturing is expected to lead the end-user industry segment of the level sensor during the forecast period"
The market for industrial manufacturing is expected to grow at the highest CAGR among all end-user industries. The growth in the industry can be attributed to the increasing integration of automation systems in the manufacturing sector. The increasing worldwide production of vehicles is also a major contributor to the growth of this market.
"APAC expected to hold the largest market share during the forecast period"
APAC is expected to be the fastest-growing market for level sensors during the forecast period. Industrial manufacturing and oil & gas are major sectors driving the growth of the level sensors market in APAC. China and India are the leading countries in the level sensors market in this region. The growing industrialization and government initiatives in these countries are further expected to drive the market in APAC. Currently, North America holds the second-largest share of the level sensors market. It is the most technologically-advanced market for level sensors owing to the greater penetration of these systems in this region.
Furthermore, the U.S. invests heavily in the petroleum and aerospace sectors.
To determine and verify the market size for several segments and subsegments of the level sensors market gathered through the secondary research, extensive primary interviews have been conducted with key people. The break-up of the profiles of primary participants is shown below:
- By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C level – 60%, Director level – 25%, Others – 15%
- By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%
The geographic segmentation in the report covers four major regions, namely, North America, Europe, APAC, and RoW. The report also profiles the major players in the level sensors market, namely, ABB Ltd. (Switzerland), AMETEK, Inc. (U.S.), Emerson Electric Co. (U.S.), Endress+Hauser AG (Switzerland), First Sensor AG (Germany), GEMS Sensors and Controls Co. (U.S.), Honeywell International Inc. (U.S.), KROHNE Messtechnik GMBH (Germany), Pepperl + Fuchs GmbH (Germany), Siemens AG (Germany), VEGA Grieshbaer KG (Germany), and Nohken Inc. (Japan).
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