According to a new market research report published by Transparency Market Research entitled “Level Sensor Market [By Sensor Type –Capacitance, Conductive, Float Level, Microwave/Radar, Optical, Pneumatic, Ultrasonic, Vibrating Point, and Others ; By Technology – Contact and Non-Contact Type; By Application – Point Level, Continuous Level, and Interface Level; By Industry Vertical – Chemical, Food & Beverage Processing, Oil & Gas, Pharmaceuticals, Water & Waste Water Treatment, and Others] – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” the global level sensor market is expected to reach US$ 5,293.1 Mn by 2026. The market is anticipated to expand at a CAGR of 5.6% during the period from 2018 to 2026. The global level sensor market is mainly driven by increasing development of industrial internet of things (IIoT) and their rising adoption in food & beverage, pharmaceutical, and others owing to supportive government regulations.
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Level sensors are basically used to monitor and regulate the level of liquids and fluidized solids that flow in a closed or open system. Moreover, they are also used to detect interfaces between liquids such as water and oil. Therefore, these sensors play a vital role in variety of industrial and consumer applications owing to their instrumentation and control capabilities. The industrial applications consist of liquid level sensing in storage tanks, transport tanks, water treatment tanks, etc. Similarly, household applications include liquid level measurement in electronic devices such as, monitoring system of boilers, steamers, washing machines, water dispensers, steam irons, automated-coffee machines, water evaporators, heating systems, and so on.
Asia Pacific held the largest share in 2017, representing 34.67% share by revenue and 41.99% by volume. Since, this region encompasses largest number of process industries such as food and beverage processing, pharmaceuticals, chemical, etc., it has become a major market for level sensors across the globe. Moreover, growing industrialization and increasing use of automation systems is further driving its growth during forecast period. Therefore, it is expected to maintain its dominance by expanding at a CAGR of 6.4% by revenue during the forecast period. Moreover, float level sensors comprised the highest volume share of 32.4% in 2017 and is further expected to grow at a highest CAGR during the forecast period. Within Asia Pacific, China is anticipated to drive the expansion of the level sensor market followed by India and Japan.
Level sensor market in North America is anticipated to witness steady growth by revenue during the forecast period. However, it is still expected to be the second largest market by 2026 owing to high consumption of non-contact level sensors in several process industries. Moreover, government regulations supporting its tremendous growth in water and wastewater treatment is further accountable for its high revenue share. In 2017, water and wastewater treatment comprised of 22.5% of total revenue of level sensors in North America. Within North America, U.S. is the biggest revenue contributor and is largely responsible for driving the growth of the market.
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Level sensor market in Europe is anticipated to witness considerable growth during the forecast period. Water and wastewater treatment is one of the major growing trends in developed countries such as U.K. and Germany. Further, water resources are depleting owing to rapid urbanization, rainfall scarcity and intensifying industrialization. Therefore, tough regulations have been implemented in the region to make optimal use of water resources and to efficiently convert wastewater into some usable form. In 2017, water and wastewater treatment comprised the highest revenue share and is further expected to maintain its position by expanding at a CAGR of 5.6% between 2018 and 2026.
Level sensor market in Middle East & Africa (MEA) comprised of 9.0% revenue share of the global market in 2017 and is expected to expand at a moderate CAGR during the forecast period. The region has the largest oil & gas production & processing industry in the world. In 2017, oil and gas industry comprised of 24.0% revenue share of MEA level sensor market. Within MEA, GCC countries are driving the growth of the market owing to large number of oil & gas reservoirs in these countries. Also, out of all level sensor types, ultrasonic sensor held the major share in 2017 and is further expected to maintain the consistency throughout the forecast period.