Dublin, March 05, 2020 (GLOBE NEWSWIRE) -- The "Level Sensor Market by Type, Application, and End Use: Global Opportunity Analysis and Industry Forecast, 2019-2026" report has been added to ResearchAndMarkets.com's offering.
According to the report, the global level sensor market was valued at $4.44 billion in 2018, and is projected to reach $7.36 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. In 2019, Asia Pacific dominated the market, contributing more than a 53.5% share of the overall revenue, followed by North America.
Factors such as emerging advancement of level sensors, rapid adoption of industrial automation, and rise in use of level sensors in the energy & power industry drive the market. However, lack of precision and accuracy of level sensors and increase in the adoption of electric vehicles hamper the market. Furthermore, the growth in the use of level sensors in the residential sector is expected to create lucrative opportunities for level sensor market during the forecast period.
Continuous level sensors are installed to measure the level within a specified range and determine an exact amount of substance. They are used in applications such as deriving flow rates, inventory management, batching, and dosing processes and provide safety and easy installation. Further, advancements and developments of continuous level sensors has constructed robust and more accurate designs for low maintenance and better reliability than previous versions.
The contact level sensor segment accounted for a significant share of the overall level sensor industry in 2018. This is attributed to the precision and low cost of these sensors in industrial applications. However, the non-contact level sensor segment is estimated to grow significantly at a CAGR of 8.2% during the level sensor market forecast period, due to increase in installation of non-contact level sensors, as many renowned companies are launching advanced technology non-contact level sensors.
Among various regions, Asia-Pacific is expected to be the major revenue generator in 2019 and is expected to maintain its dominance in the overall level sensor market size. This is attributed to the rise in industrial sector and its automation and act as major level sensor market trends globally.
Asia-Pacific is projected to grow at the fastest rate throughout the level sensor market analysis period, China in this region witnessed the highest demand for level sensors, due wide presence of semiconductor companies in the country and stringent government regulations associated with level sensors. Moreover, enhancement in industrial autonomy and increase in expenditure in the emerging markets such as Latin America and the Middle East to meet demand for exponentially growing economies in these countries have strengthened the level sensor market growth. Furthermore, technological advancements for cost-effective and high precision applications in these nations offer lucrative opportunity for the expansion of the level sensor market share.
Key Findings
Key Topics Covered
Chapter 1: Introduction
Chapter 2: Executive Summary
2.1. Key Findings
2.1.1. Top Impacting Factors
2.1.2. Top Investment Pockets
2.2. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.3. Key Forces Shaping Level Sensor Market
3.3.1. Moderate Bargaining Power of Suppliers
3.3.2. Moderate Threat of New Entrants
3.3.3. Low Threat of Substitutes
3.3.4. Moderate Intensity of Rivalry
3.3.5. Moderate Bargaining Power of Buyers
3.4. Pricing Analysis
3.4.1. Pricing Analysis of Product, by Region, 2018 & 2025
3.5. Patent Analysis
3.5.1. By Region (2012-2017)
3.6. Market Dynamics
3.6.1. Drivers
3.6.1.1. Emerging Advancement of Level Sensors
3.6.1.2. Rapid Adoption of Industrial Automation
3.6.1.3. Increasing Usage of Level Sensors in Energy & Power Vertical
3.6.2. Restraints
3.6.2.1. Lack of Precision and Accuracy of Level Sensors
3.6.2.2. Increasing Trends Towards Electric Vehicles
3.6.3. Opportunities
3.6.3.1. Growth in Usage of Level Sensor in Residential Vertical
Chapter 4: Level Sensor Market, By Type
4.1. Overview
4.2. Contact Level Sensor
4.3. Non-Contact Level Sensor
Chapter 5: Level Sensor Market, By Application
5.1. Overview
5.2. Point Level Monitoring Level Sensor
5.3. Continuous Level Monitoring Sensor
Chapter 6: Level Sensor Market, By End-use
6.1. Overview
6.2. Automotive
6.3. Aerospace & Defense
6.4. Energy & Power
6.5. Healthcare
6.6. Industrial
6.7. Others
Chapter 7: Level Sensor Market, By Region
7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia-Pacific
7.5. LAMEA
Chapter 8: Competitive Landscape
8.1. Introduction
8.1.1. Market Player Positioning, 2017
8.2. Market Share Analysis of Top Players, 2018 (%)
8.2.1. Vendor Share Analysis, By Geography
8.3. Top Winning Strategies
8.3.1. Top Winning Strategies, By Year
8.3.2. Top Winning Strategies, By Development
8.3.3. Top Winning Strategies, By Company
8.4. Product Mapping of Top 10 Player
8.5. Competitive Dashboard
8.6. Competitive Heatmap
8.7. Key Developments
8.7.1. New Product Launches
8.7.2. Other Developments
Chapter 9: Company Profiles: Auto Makers
9.1. ABB Ltd.
9.2. Ametek Inc.
9.3. Emerson Electric Co.
9.4. Endress+Hauser Management AG
9.5. Honeywell International Inc.
9.6. Siemens AG
9.7. Taiwan Semiconductor Manufacturing Company Limited
9.8. TE Connectivity
9.9. Texas Instrument
9.10. Vega Grieshaber KG
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