According to a market report by Lucintel, the future of the level sensor market looks promising with opportunities in the automotive, consumer electronics, healthcare, industrial process, oil & gas, and dry bulk applications. The global level sensor market is expected to reach an estimated $6.1 billion by 2028 with a CAGR of 9.9% from 2023 to 2028. The major drivers for this market are increasing need for sensors capable of two-way communication and self diagnosis and growing adoption of MEMS technology in applications, such as commercial, residential, and industrial measurement.
In this market, contact type and non-contact type are the two types of level sensor used by various end use industries. Lucintel forecasts that non-contact type will remain the larger technology segment over the forecast period because they are more accurate, flexible, require less maintenance, and have greater capabilities of measurement as compared to contact type sensors.
Within this market, oil & gas is expected to remain the largest application segment due to extensive use of level sensors in the oil and gas industry to maintain surveillance on storage facilities and downstream processing facilities.
North America will remain the largest region during the forecast period due to growing investments in automation and increasing focus on enhancing the processing efficiency in oil and gas, food processing, and pharmaceutical industries.
ABB, Sick AG, Honeywell, Emerson Electric, and Siemens AG are the major suppliers in the global level sensor market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global level sensor market by technology, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Level Sensor Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global level sensor market by technology, application, and region, as follows:
Level Sensor Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
Contact Type
Non-Contact Type
Level Sensor Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Automotive
Consumer Electronics
Healthcare
Industrial Process
Oil & Gas
Dry Bulk
Others
Level Sensor Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the level sensor market by technology (contact type and non-contact type), application (automotive, consumer electronics, healthcare, industrial process, oil & gas, dry bulk, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last five years and what has its impact been on the industry?