The vibration level switch market is expected to reach USD 605.5 million by 2018 and USD 833.8 million by 2023, growing at a CAGR of 6.6%
LONDON, Oct. 24, 2018 /PRNewswire/ -- Vibration level switch market to exhibit significant growth from 2018 to 2023.
The vibration level switch market is expected to reach USD 605.5 million by 2018 and USD 833.8 million by 2023, growing at a CAGR of 6.6% during that period. Benefits over other point level measurement technologies, growing demand in pharmaceuticals and food & beverages industries, and emphasis on safety of overfill protection systems are some of the key factors driving the growth of the vibration level switch market. However, the aspect of impaired performance in certain media is likely to hamper the demand for vibration level switches.
Download the full report: https://www.reportbuyer.com/product/5599470
Vibrating fork level switches to hold the largest market share during the forecast period.
Vibrating fork level switches are used for for liquids as well as solids level measurement applications.However, vibration rod level switches are only used for measurement of solid media, such as grain, feed, cement, plastic granulate, and wood chips.
Vibrating fork switches offer better value over other point level measurement technologies as they require minimal maintenance and can accurately and reliably measure product levels even under conditions such as flow, turbulence, bubbles, foam, and vibrations. Vibrating fork level switches are typically used in critical level monitoring and control applications such as high/low level alarms and overfill prevention.
The market for liquids measurement applications is expected to grow at a higher rate than solids applications during the forecast period.
With an increasing adoption in industries such as chemicals, food & beverages, and pharmaceuticals, the demand for vibration level switches is likely to grow for liquids measurement applications during the forecast period.Vibration level switches are used for measuring levels of liquids as well as solids.
Vibrating fork level switches are the most preferred solution for liquids applications. These switches are used in safety-critical applications such as overfill prevention, retention dike level alarms, and seal pot low level indication.
The market for the pharmaceuticals industry is expected to grow at the highest CAGR amongst all industries during the forecast period.
Vibration level switches play an important role in the pharmaceuticals industry.These switches are used for point level detection in reaction vessels in multi-product or multi-line production facilities.
Varying properties of to-be-measured substances pose challenges to level measurement systems—measuring conditions require point level switches that can operate under changing media as well as widely fluctuating density and viscosity.Vibration level switches offer accurate point level measurement of liquids and solids under such conditions.
The pharmaceuticals industry has experienced exceptional growth in recent years and is estimated to expand rapidly, which offers the vibration level switch market significant growth opportunities during the forecast period.
APAC is expected to hold the largest market share in 2023
APAC is expected to hold the largest market share in 2023.The region is expected to become the fastest-growing market for vibration level switches during the forecast period.
APAC is a major market for industries such as pharmaceuticals, oil & gas, chemicals, and power generation.The region has witnessed significant growth in manufacturing due to low production costs and supportive local governments.
Furthermore, increasing population in countries such as China and India are fueling chemicals, food & beverages, and pharmaceuticals industries in APAC. India and China are considered lucrative markets for vibration level switches owing to growing industrial manufacturing activities in these countries.
The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 = 60%, Tier 2 = 30%, and Tier 3 = 10%
• By Designation: C–Level Executives = 45%, Directors = 30%, and Others = 25%
• By Region: North America = 40%, Europe = 20%, APAC = 35%, and RoW = 5%
As of 2017, Endress+Hauser (Switzerland), VEGA Grieshaber (Germany), Emerson Electric (US), KROHNE Messtechnik (Germany), and Siemens (Germany) were the major players in the vibration level switch market.
Other market players include ABB (Switzerland), AMETEK (US), Magnetrol International (US), Bürkert Fluid Control Systems (Germany), Pepperl+Fuchs (Germany), Nivelco Process Control (Hungary), Finetek Group (Taiwan), Matsushima Measure Tech (Japan), Dwyer Instruments (US), and Flowline (US).
Research Coverage:
The research report on the global vibration level switch market covers the market based on technology, application, industry, and region.The market, based on technology, has been segmented into vibrating fork and vibrating rod.
The market, based on application, has been segmented into liquids and solids applications. Further, based on industry, the market is segmented into oil & gas, chemicals, water & wastewater, food & beverages, pharmaceuticals, power generation, metals & mining, and others (cement, pulp & paper, and marine industries).
The report covers 4 geographic regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentations, analyses, and forecasts, based on technology, application, industry, and region, to give an overall view of the vibration level switch market
Comprehensive coverage of major drivers, restraints, opportunities, and challenges for the market
Detailed competitive landscape, along with key players, in-depth analyses, and revenues of key players
Download the full report: https://www.reportbuyer.com/product/5599470
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: [email protected]
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com
SOURCE ReportBuyer
Share this article