The Level Sensor Industry is Expected to Reach $5.59 Billion in 2026 at a CAGR of 5.47%
DUBLIN, June 7, 2021 /PRNewswire/ -- The "Level Sensor Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global level sensors market is expected to grow at a compound annual growth rate of 5.47% over the forecast period to reach a market size of US$5.59 billion in 2026, from US$3.85 billion in 2019.
The market is expected to surge in the coming years, because of the growth of level sensing applications in the oil & industry, power generation sector, food and beverage industry, pharmaceutical, and other sectors. The rise in artificial intelligence, industry 4.0, and the internet of things are expected to play a major role in the overall market growth, during the forecast period. Major countries have been introducing several initiatives to propel market growth. The United States, The United Kingdom, and Germany and launched initiatives such as the Leadership in Energy and Environmental Design, The Building Research Establishment' Environmental Assessment Method, and Deutsche Gesellschaft fur Nachhaltiges Bauen, to encourage the installation of point level sensors, and other types of level sensors, worldwide. Major companies have been making significant developments in the market, in the past few years.
For Instance, In March 2021, SICK, one of the major and imperative players in the market, stated that its innovative and advanced non-contact radar sensing technology had been opening up the prospect of reliable and robust real-time monitoring of bulk solid levels in the quarrying and mining industries. The SICK LBR SicWave is known as a bulk solid level sensor, which had a range of up to 120m. Other players are also making significant developments in the market. With the continuous growth in innovation and advancement, the market is expected to grow at an exponential rate.
Power generation sector.
The level sensors market is expected to surge in the coming years, due to the growth in the power generation sector, globally. Electricity has been the fastest-growing source of energy demand, and according to the International Energy Agency, over the next 25 years, the electricity's growth would set to outpace energy consumption as a whole. The power sector has been also been attracting more investments than the oil and gas industry. The IEA has also stated in its preferred scenario, "New Policies Scenario" that in all regions and fields, the annual demand would surge by 2%, until the year 2040.
The worldwide gross electricity consumption would surge from 25,679 billion kWh to 40,443 billion kWh, an annual increase of around 2%, in the year 2020. According to several major forecasts, such as by the United States Energy Administration, the global electricity demand would surge by the year 2040, in the range of 34,000 to 42,000 billion kWh, per anum. These trends are expected to have a positive effect on the level sensors market. Many companies have been making significant developments in the advancement and innovation of novel level sensing solutions, in the past few years. For Instance, Gems Sensors & Controls, one of the major players in the market, provides the power generation industry with innovative and advanced sensors, and control solutions for various applications. The company also provides reliable capacitive-level sensors. Other players are also making significant developments in the market.
For Instance, elobau sustainable solutions, one of the key players in the market, provides generator fuel level sensors, which had been designed to last inside a generator's extreme environmental conditions. The global investments in the electricity and power generation market continue to surge at an exponential rate. The IEA stated that total investments in electricity networks were at US$273 billion, in the year 2019. Due to the COVID-19 Pandemic, the total investments in electricity networks declined to US$248 billion, in the year 2020. Overall power investment, globally, declined by an approx. 10% in the year 2020, because of the COVID-19 Pandemic.
Growth of level sensing in the water treatment system.
The market is expected to surge in the coming years, because of the usage of level sensing solutions in water treatment solutions and systems. According to the World Health Organisation and UNICEF in the year 2015, approx. 2.1 billion people lacked access to safely managed drinking water services. According to the data published in the OECD Environmental Policy report 2018, approx. US$260 billion, per year, had been the scale of global economic losses, related to water insecurity. The present valuation of the additional investments required to achieve the Sustainable Development Goal of equitable and universal access to affordable and safe drinking water for all has been at US$1.7 trillion.
This development is expected to have a positive effect on the level sensors market for water treatment applications. Major companies have been providing novel and advanced level sensing solutions for the water treatment management and processing sector. For Instance, Setra, one of the major players in the market, provides level pressure sensors for the wastewater processing industry. The company's liquid-level sensors play a crucial and major role in effluent tanks for distribution tanks for clean water, wastewater, and pump stations for irrigation systems. The sensors are also used in the measurement of pressure and confirm flow for liquids of various temperatures. Other companies are also providing innovative and advanced level sensing solutions for water treatment plants and systems. Sapcon, one of the major players in the market, provides level sensors for the tanks to detect, maintain and control proper level management. The level sensors the company provides are also used to secure the application media from overfilling.
Major countries continue to invest in the water treatment and development sector, to provide basic and freshwater facilities to their citizens. Developing nations, such as China, India, and others, continue to invest a significant sum of capital, since the last decade. In India, according to the country's Jal Shakti Report for 2020-21, the Indian State of Madhya Pradesh provides around 1.98 million tap water connections and had been one of the major performers in the country's water save the mission. The Indian Government collaborated with Tata Community Initiatives Trust to complete the pilot projects in several remote villages of various states. Various types of sensors, such as flow meters, groundwater level sensors, and others were used in the projects.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Level Sensors Market Analysis, By Type
5.1. Introduction
5.2. Continuous Level Measurement
5.3. Point Level Measurement
6. Global Level Sensors Market Analysis, By End-User
6.1. Introduction
6.2. Oil and Gas
6.3. Food & Beverage
6.4. Pharmaceutical
6.5. Power Generation
6.6. Others
7. Global Level Sensors Market Analysis, by Geography
7.1. Introduction
7.2. North America
7.2.1. North America Level Sensors Market Analysis, By Type
7.2.2. North America Level Sensors Market Analysis, By End-User
7.2.3. By Country
7.2.3.1. United States
7.2.3.2. Canada
7.2.3.3. Mexico
7.3. South America
7.3.1. South America Level Sensors Market Analysis, By Type
7.3.2. South America Level Sensors Market Analysis, By End-User
7.3.3. By Country
7.3.3.1. Brazil
7.3.3.2. Argentina
7.3.3.3. Others
7.4. Europe
7.4.1. Europe Level Sensors Market Analysis, By Type
7.4.2. Europe Level Sensors Market Analysis, By End-User
7.4.3. By Country
7.4.3.1. UK
7.4.3.2. Germany
7.4.3.3. France
7.4.3.4. Italy
7.4.3.5. Others
7.5. Middle East and Africa
7.5.1. Middle East and Africa Level Sensors Market Analysis, By Type
7.5.2. Middle East and Africa Level Sensors Market Analysis, By End-User
7.5.3. By Country
7.5.3.1. Saudi Arabia
7.5.3.2. South Africa
7.5.3.3. Others
7.6. Asia Pacific
7.6.1. Asia Pacific Level Sensors Market Analysis, By Type
7.6.2. Asia Pacific Level Sensors Market Analysis, By End-User
7.6.3. By Country
7.6.3.1. Japan
7.6.3.2. China
7.6.3.3. India
7.6.3.4. Australia
7.6.3.5. Others
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Sierra Instruments
9.2. SICK AG
9.3. Siemens
9.4. Trumen
9.5. Fluid Components International LLC
9.6. General Instruments Consortium
9.7. Honeywell International
9.8. Emerson
9.9. ABB
9.10. Magnetrol
For more information about this report visit https://www.researchandmarkets.com/r/sqdh30
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article