San Francisco, California, April 13, 2015 (GLOBE NEWSWIRE) -- The global level sensors market is expected to reach USD 4.87 billion by 2020, according to a new study by Grand View Research, Inc. Increasing global demand in application segments, particularly in process industries and automobiles is expected to drive the level sensors market over the forecast period. Environmental applications are also expected to grow considerably over the forecast period.
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Technology advancements for better efficiency such as ultrasonic, radar and remote level sensors are expected to growth over the next six years. Contact type sensors such as magnetic and vibratory level sensors dominate the level sensors market. However, the use of non-contact sensor is expected to grow at a considerable rate particularly in hazardous environments. Level sensors are increasingly reducing in size for their use in remote applications and integration in electronic devices particularly in industrial and consumer electronics applications.
Further key findings from the study suggest:
- Process industries, environmental and automotive applications are expected to be key segments over the forecast period. Water treatment in developed and developing nations is a significant market for level sensors, which includes solutions designed for sewer water, gray water, industrial effluent and clean water.
- Increasing concerns to avoid water wastage has pushed manufacturers towards more efficient applications. These sensors are also used to get information on reusability of water, which is evident in newer consumer appliance designs such as smart washing machines to maintain certain water levels in the wash cycle by using fluid sensors.
- The North America level sensors market accounted for over 25% of the global demand but is expected to grow at a sluggish rate over the forecast period. Asia Pacific is expected to be the key regional segment over the next six years and will be driven by technology advancements increasing demand for high-performance sensors used for environmental and process industries applications.
- Water and wastewater management is expected to be the dominant application sub-segment, which includes drinking water, sea water desalination, sewage, raw water, industrial effluent etc. In developed economies such as Germany, UK and U.S. waste water and industrial water treatments is expected to be major segments owing to strict environmental regulations for conserving water.
- Key market players include Ametek Inc, ABB Ltd., Emerson Electric Co., GEMS Sensors and Controls Co., Siemens AG, MTS Sensor, Infineon Technologies AG and Standex-Meder Electronics. Cost efficient and differentiated products are expected to be the key success factor for market players.
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For the purpose of this study, Grand View Research has segmented the global level sensors market on the basis of application and region:
Level Sensors Application Outlook (Revenue, USD Million, 2012 - 2020)
- Automotive
- Consumer Electronics
- Environmental
- Healthcare & Medical
- Process Industries
- Others
Level Sensors Regional Outlook (Revenue, USD Million, 2012 - 2020)
- North America
- Europe
- Asia Pacific
- RoW
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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