Fluid Sensors Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2826
Fluid Sensors Market size is anticipated to witness growth owing to the increasing demand for real-time accurate fluid detection, monitoring, and analysis of the fluids used in industries for accurate fluid detection monitoring across several industry verticals. Rapid urbanization and fast industrialization have led to an increased focus on using advanced techniques for the detection and analysis of the fluids. These sensors ensure that all operations and processes involving liquids run smoothly without any human intervention.
Technological advancements in the fluid sensors market will support the adoption of these sensors in various industry verticals. Developments in wireless transmission technologies are facilitating enhanced communication amongst several devices, thereby ensuring a granular control of all the parameters functioning in the system. Field effect sensors possess the unique ability to detect semi-solid materials and fluids without any direct contact. The ongoing advancements in the electronics and semiconductor industry have enabled the manufacture of robust sensors that can withstand harsh environments. The advent of smart sensors that can adapt to the surrounding environment and ensure highly precise readings will support the fluid sensors market growth.
The growth in the automotive industry attributed to the rising standard of living and the growing disposable incomes has led to the demand for high-performance automated solutions to ensure comfort and safety. Sensors are increasingly being incorporated into vehicles by leading automobile manufacturers such as Audi and BMW. Sensors are being used for the measurement of fluid in the braking system and for water cooling & temperature detection to avoid potential dangers. Liquid sensors with integrated cable terminals and magnetic floats can be used to detect multiple fluid points or low liquid levels.
These sensors are increasingly being used in wastewater treatment operations, exposing them to several chemicals and hazardous materials, thereby hampering their quality and efficiency of operation. The need for replacing the sensor system periodically will lead to increased operational and maintenance costs, which will hinder the fluid sensors market growth. The complexity of installation of the sensor system coupled with the lack of availability of skilled technicians in the emerging regions will hinder the fluid sensor market growth. The installation of these sensor systems in turbulent and agitated liquids may impact the quality of the sensors thereby making them unsuitable for such applications.
The demand for level sensors across several industry verticals such as food & beverage and petrochemical industries for the accurate detection of water level will support the fluid sensors market growth. These sensors control and monitor the liquid levels in huge vessels and tanks. Optical level sensors that can detect the interface between immiscible liquids are increasingly being deployed for applications such as tank level measurement and leak detection. Stringent government regulations in the food & beverage sector are compelling the companies to use advanced level sensors to ensure the product quality, propelling the fluid sensors market growth.
The rising demand for the detection of liquid leakages in chemical & thermal plants, water & gas supplies, and manufacturing facilities will contribute to the fluid sensors market growth. In chemical industries, leakage results in a significant loss of capital and resources, thereby stressing the importance of incorporating sensors in the system. These sensors also find applications in the detection of early oil or chemical detection in underwater or ground vehicles that explore sea lines. Stringent regulations for environment safety pertaining to hazardous liquid leakages will further boost the fluid sensors market growth.
The demand for non-contact sensors that ensure enhanced operational efficiency and durability will support the fluid sensors market growth. Non-contact technologies help in eliminating mechanical failures thereby ensuring the longevity of the sensors. Contactless sensor technologies also ensure more accurate readings owing to the remote operation capabilities. These sensors deliver more detailed and continuous detection in semiconductor applications. Moreover, these sensors being contactless ensure easy installation and configuration thereby encouraging their implementation.
The fluid sensors market will experience a rapid expansion owing to the demand from the oil & gas industry for applications such as tank level monitoring and oil quality assessment. Increasing mobility and industrialization have led to a rise in the demand for crude oil and natural gas. Given the extreme and harsh conditions in the oil & gas industry, reliable and high-quality sensors are experiencing a rising demand. Pressure and temperature sensors are increasingly being deployed in the sector for maintaining the oil composition and the environmental parameters. They are being used for monitoring the vibration and pressure changes that may damage pipelines and equipment. The demand for multi-level sensors for oil separating in oil drilling operations will fuel the fluid sensors market growth.
The fluid sensors market will witness growth in India and China due to the rapid urbanization and industrialization happening in these countries. Sensors form the core components of the latest technologies such as AI and IoT. The growing penetration of these technologies in countries including Singapore and India is anticipated to propel the fluid sensors market growth. Water and wastewater treatment projects such as National Mission for Clean Ganga (NMCG), India are demanding the installation of high-quality sensors, further supporting the fluid sensors market growth in the region.
Key players in the fluid sensors market include Omron Corporation, Honeywell International, Inc., Schneider Electric SE, NXP Semiconductors N.V., TE Connectivity, Infineon Technologies AG, SICK AG, FUTEK Advanced Sensor Technology, Inc., and Yokogawa Electric Corporation. The fluid sensors market is characterized by the extensive R&D investments. Major players are investing in launching new and innovative solutions that differentiate their product offerings. Increasing competition among key players to launch advanced solutions will drive the fluid sensors market growth.
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