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Level Sensor Market in APAC to grow at highest CAGR during forecast period

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Level Sensor Market in APAC to grow at highest CAGR during forecast period

February 27
23:08 2020
Level Sensors Market by Technology (Contact ( Magnetostrictive, Vibratory Probe), and Noncontact (Ultrasonic, Optical)), Monitoring Type (Continuous Level Monitoring, and Point Level Monitoring), End-Use Application, and Geography – Global Forecast to 2023

The level sensor market is expected to reach USD 5.32 billion by 2023, at a CAGR of 5.66% between 2017 and 2023. The growth in the level sensor market would be driven by increasing advancement of the Industrial Internet of Things (IIoT), the growing adoption of level sensors in the healthcare end-use application, and the market supportive government regulations. Moreover, the rise in vehicle production and the development of smaller, smarter, and cheaper sensors would drive the growth of the level sensor market. The strict governmental regulations and environmental protection laws governing the environment are increasingly contributing to the growth of the studied market, as industries seek to increase their efficiency through level controlling and monitoring, thereby minimizing the emissions and effluents from various end-use industries.

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The level sensor market for contact level sensors is expected to grow at the highest rate during the forecast period. These sensors are widely used in numerous end-use industries as these sensors are deployed in several products. Contact level sensors use traditional technologies such as magnetostrictive, vibratory probe, hydrostatic, magnetic and mechanical float, and pneumatic, which are mechanical in nature. These sensors operate well with a wide variety of media or liquid, including corrosives. They are popular because of their simplicity, dependability, and low cost. The higher market size of these sensors is attributed to the use of a large number of these sensors in the industrial manufacturing end-use application.

The level sensor market in the APAC region is expected to hold the largest share and grow at the highest rate between 2017 and 2023. The developing countries in APAC, such as China and India, are witnessing high industrial growth. Various governments initiatives in several APAC countries are striving to improve the wastewater treatment facility through stringent environmental regulations that support the demand for products required in water and wastewater treatment units such as level sensors. Due to these stringent government regulations, developing industries such as food and beverages, chemicals, and semiconductors are water intensive; hence, the treatment facilities in these industries are expected to experience a greater demand for level sensors.

 

Based on monitoring type, point level monitoring to grow at highest CAGR from 2019 to 2025

The market for point level monitoring is expected to grow at a highest CAGR from 2019 to 2025. Level sensors with point level monitoring are economically priced and easy to install and setup. These level sensors 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

Based on end use applications, Level Sensor Market for industrial manufacturing to grow at highest CAGR from 2019 to 2025

Industrial manufacturing industry is expected to grow at a highest CAGR from 2019 to 2025 than that of consumer goods industry. The leading position is due to rise in the adoption of automated machinery and processes. Major applications of level sensors such as manufacturing and process industries, semiconductor manufacturing, automotive manufacturing, and aerospace and defense manufacturing are a vital part of industrial manufacturing.

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