The Global Level Sensor Market size is expected to reach $6.8 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period
NEW YORK, Feb. 13, 2020 /PRNewswire/ -- The Global Level Sensor Market size is expected to reach $6.8 billion by 2025, rising at a market growth of 8.2% CAGR during the forecast period. A level sensor is a tool for measuring the amount or quantity of fluids, liquids or other substances flowing through an open or closed system. There are two categories of level measurement, called the continuous and point level measurements. Continuous level sensors are used to calculate levels to a specific threshold; however, they provide accurate results. Point level sensors, on the other hand, only determine a number if the level of the liquid is high or low. The level sensors are usually connected to the output device to pass the results to the monitoring system. Existing technologies utilize wireless data transmission methods to send data to the monitoring system, which is an effective approach in elevated and dangerous environments that cannot be easily accessed by regular employees.
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The market size is expected to see healthy growth from 2019 to 2025 due to its growing use in the oil & gas industry to calculate and track oil & gas flow, together with increasing demand for miniaturized smart instruments. Moreover, factors like low cost, presence of a large number of manufacturers with appropriate government regulations, provide significant growth opportunities for the level sensors market. Diverse deployment in the automotive and manufacturing industries and the escalated demand for residential and commercial use are raising the market for level sensors. Next-generation products can be easily installed and configured and provide data with high accuracy and performance. The wide range of applications of level sensors includes measurement of tank levels, inventory of liquid assets, monitoring of stream level, dredging spoil levels, obstacle warning systems, automotive parking.
The transformation from mechanical equipment to electronic devices has been observed in the market of level sensors due to improved precision, user-friendly technology that doesn't require much maintenance and operation. Active investments by organizations in the research and development of nanotechnology applications are fueling the market for level sensors to grow exponentially. Such sensing techniques are used to measure the level of liquid and liquid solids, including powders, slurries, and granular materials.
Based on Technology, the market is segmented into Contact Level Sensor and Noncontact Level Sensor. Contact Level Sensors are further sub divided into Guided Wave, Magnetostrictive, Hydrostatic, Magnetic & Mechanical Float, Pneumatic and Others. Non-Contact Level Sensors market is further bifurcated into Ultrasonic, Microwave/Radar and Others. Based on Monitoring Type, the market is segmented into Continuous Level Monitoring and Point Level Monitoring. Based on End User, the market is segmented into Industrial Manufacturing, Oil & Gas, Wastewater, Chemical & Pharmaceuticals, Consumer and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The major strategies followed by the market participants are Product launches and Acquisition and Product Launches. Based on the Analysis presented in the Cardinal matrix, ABB Group, Emerson Electric Co., TE Connectivity Ltd., Fortive Corporation, Texas Instruments, Inc., Siemens AG, and Honeywell International, Inc. are some of the forerunners in the Level Sensors Market. The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include TE Connectivity Ltd., Emerson Electric Co., ABB Group, Siemens AG, Ametek, Inc., Honeywell International, Inc., Fortive Corporation, Texas Instruments, Inc., MTS Systems Corporation, Sensirion AG.
Recent strategies deployed in Level Sensors Market
Partnerships, Collaborations, and Agreements:
Nov-2019: ABB came into partnership with Exeger Operations AB for enabling Exeger's to increase the production capacity of its unique photovoltaic material in its Stockholm factory. Also, the partnership is aimed at developing automation solutions for Exeger's fully automated factory that will begin the construction in the future.
Aug-2019: ABB signed an agreement with the Chinese Government in which it has been supplying integrated automation solutions for the 100MW Urat solar energy project in China. In this agreement, the company will be responsible for the deployment of its Ability Symphony Plus distributed control system (DCS) at the plant.
Jun-2019: Ametek Sensors and Fluid Management collaborated with AVIC XAC Commercial Aircraft Co. Under this collaboration, the former company has been providing high/low-level sensors and temperature sensors, a fuel quantity signal conditioner, refuel control panels, etc.
Acquisition and Mergers:
Nov-2019: MTS acquired Danish Engineering Firm for expanding its presence in wind energy and aerospace markets.
Oct-2019: TE Connectivity took over Silicon Microstructures from Elmos Semiconductors. Under the acquisition, TE's operational scale, customer base and existing sensors technologies has been integrated with SMI's micro-electro-mechanical systems (MEMS) sensor technology design and manufacturing capabilities. The acquisition expanded its global position in pressure sensing technology.
Jul-2019: Emerson completed the acquisition of Zedi's Software and Automation Business. The acquisition added Zedi's cloud supervisory control and data acquisition (SCADA) platform to Emerson for helping the oil and gas producers in reducing the operating costs and increasing production through cloud-based control, monitoring, and optimization.
Feb-2019: Emerson acquired General Electric's Intelligent Platform Business. The acquisition expanded the capabilities of the former company in machine control and discrete applications.
May-2018: Siemens announced the acquisition of Enlighted, a provider of smart IoT system. The acquisition enhanced its business in producing smart sensors with the addition of Enlighted's smart sensors and sensor platform to it.
Geographical Expansions:
Jan-2020: Ametek opened a new technology Solutions Center in Élancourt City (France) as a regional headquarters. The expansion is aimed at supporting the growth of electromechanical products and electrical instrument business in France.
Product Launches and Product Expansions:
Jan-2020: MTS Sensors unveiled the next generation of Model MH sensors. These sensors provide customers with more value to solve the equipment automation requirements.
Nov-2019: TE Connectivity released the AmbiMate MS4 multi-sensor module. This module incorporates up to seven of the most-in demand sensors deployed in smart building applications. This module measures and senses humidity, temperature, ambient light, passive infrared, volatile organic compounds, and carbon dioxide.
Nov-2019: Ametek Land launched 4650-PM and 4750-PM, two new continuous emission monitoring systems. These systems have been delivering reliable and accurate measurements of particulate matter from the industrial combustion process in ducts and stacks.
Oct-2019: ABB extended the range of its digital analytical measurement resolutions with the launch of AWT420 transmitter. This new four-wire, dual-channel analytical transmitter measures the multiple parameters in a single device. It also optimizes the process performance for efficient water treatment and usage.
Nov-2018: Ametek launched 737NG and E190/E195 operators upgraded oil-level sensors for CFM56-7B and CF34-10E engines. These new OEM preferred designs were aimed at addressing the issues of degraded and swelling materials caused by exposure to modern High Thermal Stability (HTS) turbine oils.
Nov-2018: Sensirion released SLF3S-1300F liquid flow sensor based on Sensirion's proven CMOSens® Technology. This sensor offers maximum stability, safety, and long-term reliability for analytical instruments, diagnostics, and life science applications.
Oct-2018: ABB launched the next generation of magnetostrictive liquid level transmitters. These transmitters have been improving the level measurement through ensuring that total and/or interface levels are measured accurately and reliably. Also, it improves the measurement for a wide range of industries such as power generation, oil, gas, and chemical industries.
Scope of the Study
Market Segmentation:
By Technology
• Contact Level Sensor
o Guided Wave
o Magnetostrictive
o Hydrostatic
o Magnetic & Mechanical Float
o Pneumatic
o Others
• Noncontact Level Sensor
o Ultrasonic
o Microwave/Radar
o Others
By Monitoring Type
• Continuous Level Monitoring
• Point Level Monitoring
By End User
• Industrial Manufacturing
• Oil & Gas
• Wastewater
• Chemical & Pharmaceuticals
• Consumer
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• TE Connectivity Ltd.
• Emerson Electric Co.
• ABB Group
• Siemens AG
• Ametek, Inc.
• Honeywell International, Inc.
• Fortive Corporation
• Texas Instruments, Inc.
• MTS Systems Corporation
• Sensirion AG
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