Level Sensors Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1666
Level Sensors Market size is anticipated to witness healthy growth from 2017 to 2024due to its rising usage in oil & gas industry for measuring and monitoring the flow of oil & gas along with the increasing demand for miniaturized smart instruments. In addition, factors such as low cost, presence of large number of vendors with suitable government regulations offer significant growth opportunities for the level sensors market.
Wide implementation in the automotive and manufacturing industry and increasing demand for residential and commercial usage is enhancing the level sensors market. New generation products can be installed and configured easily and provides information with high accuracy and efficiency. Application of level sensors market include measurement of tank levels, liquid assets inventory, stream level monitoring, dredging spoil levels, obstacle warning systems, automotive parking.
Factors such as rising price competition among the vendors to provide high quality products along with the high adoption of thin-film technology will hinder the level sensors market growth. Furthermore, saturation of critical infrastructure industries along with overlapping technologies for similar applications may restrict the industry development.
Technological advancements in the level sensors market such as miniaturization, microprocessor enabled intelligent instruments providing data based on its performance offer significant growth opportunities. In addition, they offer high efficiency, reliability, reduced power consumption. The top-level sensing technologies include float, tuning fork, ultrasonic, radar, microwave, laser, hydrostatics, differential pressure, capacitance, load cell.
Transition from mechanical equipment to electronic instruments is being witnessed in the level sensors market owing to the better accuracy, user-friendly technology which does not require much maintenance and service. Increasing investments by organizations in the research and development of Nano-technology applications is driving the level sensors market to grow exponentially.
Based on technology, level sensors market can be classified into contact and non-contact level sensors. The contact segment can be further classified into hydrostatic, float, pneumatic, magnetostrictive, level sight gauge, RF capacitance and contact ultrasonic. Float sensors such as magnetic and mechanical float offer high reliability, consisting of simple design enabling level sensing of liquids and are used in measuring levels in wells, tanks, water-treatment plants. Furthermore, pneumatic products offer features such as minimum air usage, magnetic coupling-float to valve and are explosion proof, suitable for vented and non-vented vessels.
Contact ultrasonic level sensors market comprise field-mounted sensor and solid-state amplifier, terminal blocks for building connection of a power source. These types of sensors are used in large vessels or pipelines for automatically operating pumps, valves and alarms. They are compatible with all type of liquids and remain unaffected by foam, vapor and coatings.
Non-contact level sensors market is classified into optical, laser, ultrasonic, radar, Micro-electro-mechanical systems(MEMS). The optical non-contact solution is less-expensive level sensing technology used for monitoring the liquid levels in various industrial machines such as washers, medical water distillers, dialysis machines. As a major industrial trend, stainless steel optical sensors are implemented in various hydraulic processes and refrigerators to perform operation under higher PSI. Optical sensors are smaller in size with less weight with higher efficiency, capability of working at even high temperatures making it suitable for critical infrastructure industries such as oil & gas, water-treatment, food and beverage, pharmaceutical, biotechnology.
Micro-electro-mechanical systems (MEMS) technology is anticipated to have a significant demand in the level sensors market. It is useful for applications that require accelerometers and pressure sensors. This is owing to the smaller size and potential to closely integrate with the associated electronics. Gyroscopes, radiation, gas and mass flow sensors are among the other categories of MEMS.
Significant applications of level sensors include critical infrastructure industries such as oil & gas, chemical, power and energy. In oil & gas industries, these products are widely used to monitor the oil & gas flow and can be connected to computers in the network easily. In consumer electronics industry, they are used in household appliances and are enabled with synchronized control and communication. Increasing demand for consumer convenience and home automation is expected to propel the level sensors market growth. The automotive application of level sensors market includes measurement of fuel level in the tank, engine oil along with level measurement of several fluids in the vehicle such as brake fluid, steering fluid, coolant fluid, windshield cleaning fluid.
The Asia-Pacific region is expected to dominate the level sensor market owing to the presence of large number of vendors, increasing automotive manufacturing in the economies such as China, India, and Japan. Furthermore, rapid industrial growth, presence of large number of refineries, mining, petrochemical processing facilities, automotive industries offer significant growth opportunities for the level sensors market in the region.
Industry participants in the level sensors market are ABB Ltd., Eaton Corporation PLC, Emersion Electric Company, Siemens AG, MTS Sensor, APG, Inc., AMETEK Inc., First Sensor AG, Georg Fischer AG. The industry is currently witnessing a trend of acquisition of small technology vendors by the major players along with intense competition among the players owing to the demand for highly efficient products.
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