Level Sensor Market is to grow at growth rate of 5.66% and reaching market value of 5.32 billion from 2107 to 2023. This growth is attributed to factors such as supportive government regulations, rise in vehicle production, and increasing advancement of the Industrial Internet of Things (IIoT). Moreover, the market is further driven by the development of smaller, smarter, and cheaper sensors, and the growing adoption of level sensors in the healthcare end-use application.
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In this report Level Sensor Market analysed using comprehensive Level Sensor Market inforamtion, interviews, and swot analysis of Level Sensor Market key players like ABB Ltd. (Switzerland), Emerson Electric Co.
(US), Endress+Hauser AG (Switzerland), Vega Grieshaber KG (Germany), Siemens AG (Germany), AMETEK, Inc. (US), Honeywell International Inc.
(US), First Sensor AG (Germany), Fortive Corporation (US), KROHNE Messtechnik GmbH (Germany), Pepperl+Fuchs GmbH (Germany), Nohken, Inc. (Japan), Texas Instruments Incorporated (US), and TE Connectivity Ltd.
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“The level sensor market for point level monitoring is expected to grow at the highest CAGR during the forecast period”
The level sensor market for point level monitoring is expected to witness the highest CAGR between 2017 and 2023.Level sensors with point level monitoring are economically priced and easy to install and setup. These sensors typically find their applications in overfill protection, high and low-level alarms, pump control, dry-run protection for pumps, and leakage detection in double containment piping systems or double-wall tanks.
Moreover, level sensors with point level monitoring are widely used in the industrial manufacturing end-use application.
“The market for contact level sensors is expected to hold the largest share during the forecast period”
The market for contact level sensors is expected to hold the largest share during the forecast period. Contact level sensors operate well with a wide variety of media or liquid, including corrosives.
Contact level sensors are popular because of their simplicity, dependability, and low cost. The higher market size of contact level sensors is attributed to the use of a large number of these sensors in the industrial manufacturing end-use application.
“Level sensor market in APAC is expected to grow at the highest rate between 2017 and 2023”
This report covers the studies market in regions including North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). APAC is a major market for various end-use applications such as automotive, process industries, healthcare, petrochemicals and related process, chemicals, power generation, and consumer goods.
India and China are considered a huge market for level sensors owing to their growing economy. As the demand for these sensors are increasing in the healthcare end-use application, major issues in APAC, such as aging population and increase in the number of lifestyle-related diseases, act as a driver for the growth of the studies market.