Global Microwave Level Sensor Market to be Worth USD 1,237.4 Million by 2022, at a CAGR of 8.9%
PUNE, India, June 9, 2016 /PRNewswire/ --
According to the new Market Research Report "Microwave Level Sensor Market, By Sensing Technology, Monitoring Type, Application (Industrial, Food & Beverage, Healthcare, Water & Wastewater, Oil & Gas, Energy & Power), Geography - Global Forecast to 2022", is expected to grow from USD 662.4 million in 2015 to USD 1,237.4 million by 2022, at a CAGR of 8.9% from 2016 to 2022.
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"Microwave Level Sensor Market, By Sensing Technology, Monitoring Type, Application (Industrial, Food & Beverage, Healthcare, Water & Wastewater, Oil & Gas, Energy & Power), Geography - Global Forecast to 2022"
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The need for accuracy in various process industries, such as chemicals & petrochemical, food & beverages, gasoline, paint, pharmaceutical, ceramics, metals & mining, pulp & paper, and biotechnology industries has increased. Therefore, there is a high demand for microwave level sensors in these industries, owing to their accurate measuring capacity despite various barriers. . For instance, microwave level sensors can be used for the measurement of viscous materials in chemical plants, despite the vapor, heat, and false reflections.
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The market size of industrial application segment is expected grow at the highest CAGR during the forecast period. The main reasons for the rapid growth of industrial application include increasing demand from process industries, such as chemicals & petrochemical, food & beverages, gasoline, paint, pharmaceutical, ceramics, metals & mining, and pulp & paper industries.
Asia-Pacific segment is expected to grow at the highest CAGR till 2022. The microwave level sensor market in Asia-Pacific is currently on a prosperous growth curve in terms of consumption of microwave level sensors in various end-use industries, such as food & beverage, chemicals, and semiconductors.
Key Players of Global Microwave Level Sensor Market includes:
Endress+Hauser AG (Switzerland), Emerson Electric Co. (U.S.), Siemens AG (Germany), Magnetrol International, Incorporated (U.S.), and VEGA Grieshaber KG (Germany) are the key players operational in the global microwave level sensor market.
This report analyzes market trends, drivers, and challenges with respect to the global microwave level sensor market, and forecasts the market till 2022. It also provides a detailed view of the market across five regions, namely, North America, Latin America, Europe, Asia-Pacific, and Rest of the World (RoW).
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