Fluid Sensors Market size is expected to surpass USD 39 Billion by the end of 2036, growing at a CAGR of 7.5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of fluid sensors was over USD 15 Billion. The growth of the market is due to cutting-edge methods for the detection and analysis of fluids that have become an increasingly important factor in fast-paced industrialization and urbanization. These sensors ensure that all the activities and procedures associated with liquids are performed in such a manner as to not require human intervention. Today there are around 56% of the world's population living in cities, with 4.4 billion inhabitants. This trend is expected to continue, given that by 2050 the number of people living in urban areas will more than double its present size and almost 7 out of 10 will live in cities.
The growth of the market is due to rising demand in the petroleum and gas sectors for a number of applications, including tank level monitoring and oil quality tests, fluid sensors are estimated to be needed significantly over the forecast period. As a result of increased mobility and industrialization, the demand for crude oil and natural gas is increasing. In oil and gas, there has become an increased demand for reliable and top-quality sensors due to the severe and difficult conditions. The world's oil production is around 4 billion tons a year, with the Middle East accounting for close to 50 % of proven reserves.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 7.5% |
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Base Year Market Size (2023) |
~ USD 15 Billion |
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Forecast Year Market Size (2036) |
~ USD 39 Billion |
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Regional Scope |
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End-User (Automotive, Water & Wastewater, Oil & Gas, Chemical, Food & Beverages, Power & Utilities)
The power & utilities segment in the fluid sensors market is projected to show the highest share of about 38% during the forecast period. The need for additional electricity has been driven by an increase in production capacities and a significant energy demand at businesses because of the world's increasing population, which is also supporting the expansion of power and utility subsegments. The use of fluids sensors for power generation units such as heat and hydro plants has benefits, e.g. ensuring that emissions are lowest possible by means of a flow sensor. The ammonia NH3 gas output rate from chimneys shall be monitored by means of sophisticated flow meters and a number of different installation choices with regard to the flow measurement equipment. In line with the anticipated timeframe, these elements are expected to support subregions of growth.
Type (Flow Sensor, Level Sensor)
Fluid sensors market from the flow sensor segment is attributed to hold the largest share with about 62% during the projected period. As a result, in the petroleum and automotive sectors there is increasing demand for advanced feature flow sensors. In order to control liquid flow in the pipes it is becoming more and more important to use flow sensors. For the year 2021, motor vehicle production rose by 3 per cent, which would amount to approximately 80 million global vehicles produced on a yearly basis.
Our in-depth analysis of the global fluid sensors market includes the following segments:
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Type |
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Technology |
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End-User |
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APAC Market Forecast
Fluid sensors market in Asia Pacific is expected to hold the largest share of about 38% by the end of 2036. The market in the region is growing as a result of an increasing rate of industrial production in these developing and emerging countries, given that Chinese, Indian, Japanese, or South Korean are primary producers of industrial fluid sensors. The strong use of fluid sensors in sectors such as water and sewage, chemicals, food, and beverages, and others are another factor that contributes to rapid economic development within the Asia Pacific region. Government initiatives like the National Mission for Clean Ganga (NMCG) also place demands on the level and flow detection sensors, which is good for the market's expansion. There are around 3 million sewage discharges a day into the Ganges, and about half of them have not been treated.
North American Market Statistics
Fluid sensors market in North America is estimated to hold the second largest share of about 27% during the forecast period. As a result of the thoroughly developed industries in oil, gas, chemicals, and power generation. In 2017, it was expected that North American renewable energy production would continue to invest significantly in new projects. The US Department of Energy expects that by 2050, the hydropower sector will have increased its capacity from today's 101 GW to about 150 GW.
Author Credits: Abhishek Verma, Hetal Singh
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