Updated date - DEC 06, 2019

[191 Pages Report] MarketsandMarkets forecasts the level sensors market to grow from USD 3.8 billion in 2017 to USD 5.3 billion by 2023, at a compound annual growth rate (CAGR) of 5.7% during the forecast period. The major factors that are expected to be driving the level sensors market are rise in the production of vehicles, development of smaller, smarter, and cheaper sensors, and supportive government regulations. Moreover growing adoption of level sensors in healthcare end-use application and increasing advancement of the industrial internet of things (IIoT) and industry 4.0 is further expected to support in growth of market. The objective of the report is to define, describe, and forecast the level sensors market size based on technology, monitoring type, application, end-use application, and region.

By technology, the contact level sensor segment is expected to grow at the highest growth rate during the forecast period

Among the technology segment, the contact level sensor segment is expected to grow at the highest CAGR during the forecast period. Contact type level sensors are widely used in numerous verticals as these sensors are deployed in several products. Contact type level sensors use traditional technologies such as magnetostrictive, vibratory probe, hydrostatic, magnetic and mechanical float, and pneumatic, which are mechanical in nature. Contact level sensors operate well with wide variety of media or liquid, including corrosives. Contact type 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.

By monitoring type, continuous level monitoring holds the largest share of the market

The continuous level monitoring segment is expected to hold the largest level sensors market share. Continuous level monitoring measures the amount of material in a storage vessel on a continual basis; hence, it is considered ideal for monitoring material inventory in any tank or vessel to prevent downtime. This monitoring type is best suited for liquid level measurements in industries such as pharmaceuticals, food processing, marine, chemicals processing, and wastewater treatment, where precision and accuracy is required. The growth of the continuous level monitoring type is attributed to the increasing investments in the water processing and pharmaceutical industries.

By end-user application, the industrial manufacturing segment is expected to grow at the highest growth rate during the forecast period

Among the end-user application segment, the industrial manufacturing segment is expected to grow at the highest CAGR during the forecast period. The industrial manufacturing end-use application is witnessing a rise in the adoption of automated machinery and processes. These automated machinery essentially require level sensors for control and safety applications. Moreover, 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.

Asia Pacific to account for the largest market size during the forecast period.

Asia Pacific is expected to hold the largest market size in the level sensors market during the forecast period, followed by the APAC region. 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 beverage, chemicals, and semiconductors are water intensive; hence, the treatment facilities for these industries are expected to experience greater demand for level sensors. Moreover, factors such as growing number of health issues, demand for oil, integration of sensors in automobiles and automation technology, and modernization of the armed forces contribute to the rising demand for level sensors in the growing economies of China and India.

Market Dynamics

Driver: Rise in the production of vehicles

The automotive industry is among the major industries that is currently witnessing an increasing demand across regions. According to the statistics provided on the OICA website, the total automotive production for cars and commercial vehicles was 94 million units in 2016 and is expected to reach 100 million by 2018. Even during the global recession during 2008�2009, when sales in the developed markets such as the US, Western Europe, and Japan fell by nearly 9%, 2%, and 4% (respectively) per year between 2004 and 2009, the emerging markets such as Brazil, China, and India witnessed growth of 14%, 26%, and 12% (respectively) per year.

In the current scenario of the global automotive market, the emerging economies are the key sources for the growth of the automotive industry. Home to almost half of the world�s population, China, India, and other Asian countries are the key markets spearheading this growth. As of 2016, countries such as China, Japan, South Korea, and India were among the top 10 largest automobile manufacturers globally. According to the estimates by a public policy research organization, Brooking Institution (US) (2013), the US and Europe together account for a share of approximately 50% of the world's middle class, and this is expected to dip to 22% by 2030. In APAC, it is expected to reach more than double, that is, from 30% to 64% during the same period. This shift is already reflected in the automobile industry. In 2002, Asia's contribution to the global production capacity in the automobile industry was 15% to 20%. Currently, this region accounts for over half of the world�s passenger vehicle production. China is the key market player in terms of car sales, surpassing the US. Owing to this huge growth potential, auto multinationals (MNCs) are shifting their respective production base to Asia to be closer to their customers.

Restraint: High integration cost of thin-film technology

Thin film deposition technology is implemented to revise the optical characteristics of a surface (the substrate). Its electrical conductivity and hardness or lubricity provides corrosion resistance or chemical inertness. Thin film deposition technology is a process of modifying the physical characteristics of a surface by applying a very thin coating, often just a few millionths of a millimeter thick. In developed countries, manufacturers are frequently implementing thin-film technology to produce level sensors. However, the integration and implementation of this technology is critical and due to the huge cost associated with this technology, it is difficult for small-scale level sensor manufacturers from emerging economies to manufacture these sensors. Only a few top industry players such as Vega KG (Germany) and First Sensor GmbH (Germany) have adopted the thin-film technology. Thus, the increased level of integration of thin-film technology among devices is one of the major challenges for the overall level sensors market.

Opportunity: Growth of smart application and advancement in ICT-enabled technologies

Smart homes applications involve intercommunication between household appliances and systems, including lighting, heating, ventilation and air conditioning (HVAC), the TV, computers, entertainment devices, and security system to deliver improved energy efficiency, access control, security, home monitoring, and home care. Sensors play a key role in keeping all processes running efficiently. In the smart home applications, liquid level sensor plays a vital role, they assist in monitoring the levels of a liquid or fuel and thus are essential for leak detection.

The key aspects of ICT technologies, such as Internet of Things (IoT), Machine-to-Machine (M2M) communication, ZigBee wireless sensors, and wireless sensor networks, need sensor monitoring solutions. The development of information and communication-based technologies such as the expansion of bandwidth capacity in fixed and mobile networks and the emergence and development of Internet and Internet-based applications in several end-use applications have been a main game-changing driver for the level sensors market. ICT technologies strongly support the increasing use of microsystems by enabling advanced data handlings, data transfer, data displays, and wireless connectivity between sensor-integrated equipment and other machines or systems.

Challenge: Technical issue related to accuracy

As the sensor parameters vary according to the end user or application, ensuring accuracy in the measurement and sensing performance according to the application of the level sensor is a key challenge for its growth. The level of accuracy required for particular applications varies greatly. Various critical application segments such as industrial automation companies (chemicals, oil and gas, textile) require a higher degree of accuracy. Any deviations in level measurements can lead to serious damage in the petrochemicals and oil and gas industries due to the presence of inflammable and toxic substances. Moreover, variation in the contents and container, as well as environmental factors and locations, can affect the accuracy of level sensors. Hence, the performance requirements of level sensors are critical in advanced applications. Manufacturers need to conform to such stringent requirements based on the end-use application. Hence, accuracy is the most crucial factor that has to be considered while selecting a level sensor.

Scope of the Report

Report Metric Details Market size available for years 2014�2023 Base year considered 2016 Forecast period 2017�2023 Forecast units Million (USD) Segments covered Technology, Monitoring Type, Application, End-use Application, and Region Geographies covered North America, Europe, APAC, RoW (South America, Middle East, and Africa) Companies covered 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), and KROHNE Messtechnik GmbH (Germany)

Level Sensors Market Segmentation:

The research report categorizes the level sensors to forecast the revenues and analyze the trends in each of the following sub-segments:

Level Sensors Market, by Technology

Contact level sensor Magnetostrictive Vibratory probe Hydrostatic Magnetic & mechanical float Pneumatic Guided wave Other contact type technology Rotating paddle Resistive chain Weight and cable

Noncontact level sensor Ultrasonic Microwave/radar Optical Laser Other noncontact type technology Capacitance Conductive Nuclear Air bubbler Load cell



Level Sensors Market, by Monitoring Type

Continuous level monitoring Magnetostrictive Resistive chain level Magnetoresistive Hydrostatic pressure level Air bubbler Gamma ray

Point level monitoring Vibratory probe Rotating paddle Admittance Magnetic & mechanical float Pneumatic Conductive



Level Sensors Market, by Application:

Water monitoring

Tank level monitoring

Distance ranging applications

Object detection applications

Hydrofoil & nautical applications

Wireless level monitoring

Level Sensors Market, by End-Use Application:

Consumer

Energy & power

Healthcare

Oil & gas

Chemicals

Pharmaceuticals

Wastewater

Others

Agricultural

Paper & pulp

Construction

Level Sensors Market, by Geography

North America US Canada Mexico

Europe UK Germany France Italy Rest of Europe (Sweden, Switzerland, Finland, the Netherlands, Belgium, and Turkey)

Asia Pacific (APAC) China Japan India South Korea Rest of APAC (Taiwan, Indonesia, Australia, the Philippines, and Vietnam)



Key Market Players

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), and KROHNE Messtechnik GmbH (Germany)

ABB Ltd. held a leading position in the level sensors market in 2016. ABB Ltd. is a global leader in power and automation technologies. The company has established its presence globally with operations in around 100 countries across Europe, APAC, the Middle East and Africa (AMEA), and the Americas. Owing to its technological innovative capability, the company can offer diversified and innovative products for major industries such as oil and gas, paper and pulp, and marine and turbo charging, thereby driving the competitiveness in the market. In 2016, the company invested USD 1.30 billion in its research and development (R&D) activities. R&D investments done by the company helps them to develop and launch innovative new products and strengthen its position in the level sensors market. With the acquisition of Bernecker + Rainer Industrie-Elektronik GmbH (Austria) in April 2017, ABB Ltd. could expand its leadership in the field of industrial automation.

Recent Developments

In April 2017, ABB Ltd. (Switzerland) announced to acquire Austria-based industrial automation firm Bernecker + Rainer Industrie Elektronik GmbH, a solution provider in machines automation. This acquisition would allow ABB Ltd. to expand its leadership in the field of industrial automation.

In April 2017, Emerson Electric Co. (US) introduced the �SIL 3-capable Rosemount 5408�, a noncontact radar level transmitter. The noncontact level radar is designed to reduce the complexity during level measurement for tank monitoring, process control, and overfill prevention.

In January 2017, Vega Grieshaber KG (Germany) launched a process sensor �PLICSCOM� with wireless operations. The sensor has a Bluetooth functionality, which simplifies diagnostics and facilities operations. This sensor is suitable for level measurement in water treatment and pump stations, as well as storm water overflow tanks.

In January 2014, Siemens AG (Germany) launched a product family of Sitrans LG radar level transmitters, which uses guided waves for processing. These transmitters are guided wave radar transmitters. These transmitters have widespread industrial applications such as level measurement in oil and gas, chemicals, pharmaceuticals, and food and beverage industries.

Critical questions the report answers:

Where will all these developments take the industry in the long term?

What are the upcoming trends for the level sensors market?

Which segment provides the most opportunity for growth?

Who are the leading vendors operating in this market?

What are the opportunities for new level sensors market entrants?

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