Level Sensor Market Size & Share, by Device Type (Contact Type, Non-Contact Type); Industry (Chemical & Petrochemical, Pharmaceutical, Energy & Power, Oil & Gas, Waste & Wastewater Treatment, Food & Beverages) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5738
  • Published Date: Feb 27, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Level Sensor Market size is estimated to cross USD 11 Billion by the end of 2036, expanding around 8% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of level sensor was about USD 5 Billion. The growth of the sector is set to be dominated by rising amount off waste water which needs to be treated. Globally, over 379 billion cubic metres of municipal wastewater is generated annually. It is anticipated that the production of wastewater shall increase by approximately 23% by 2030 and close to 50% by 2050. Therefore, with the growing demand for wastewater treatment the adoption of level sensor is also projected to rise. This is since, by providing operators with real-time data on wastewater volume, these sensors enable them to track the treatment process and make adjustments as needed to ensure optimal performance.

Additionally, the size of level sensors has dropped significantly as a result of enormous technological advancements and adoption such as MEMS technology over the past decades, which has significantly boosted the level sensor market. Also, since MEMS technology is becoming more and more widely accepted in the industry, level sensors are now available for a wide variety of applications.


Level Sensor Market
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Level Sensor Market: Growth Drivers and Challenges

Growth Drivers

  • Surge in Adoption of Level Sensors in Automobile -There has been a rise in demand for automobiles which is also further estimated to boost the demand for level sensor market. Global auto sales jumped from almost 65 million vehicles in 2021 to approximately 66 million vehicles in 2022. Level sensors are in high demand in this sector to ensure that automobiles operate as safety-critical systems and remain in position. Liquid level sensors are utilized in cars to measure things including the amount of petrol remaining in the tank, the level of coolant, washer fluid, braking fluid, and others. For instance, engine oil level sensors are crucial for efficient engine running. The majority of drivers are aware that an engine with insufficient oil might experience significant damage. The purpose of the oil level sensors is to identify these oil amounts, and a possible sensor malfunction could result in an unexpected breakdown of the car. Additionally, the purpose of the engine coolant level sensors is to warn the driver if the motor may overheat.
  • Growing Deployment of IoT in Level Sensor -The Internet of Things has enabled the connection of common objects to the Internet. In order to collect data and employ the information for a variety of purposes, nearly every entity in existence today-including homes, offices, factories, and even cities-is connected to a network. Hence, with this, the deployment of IoT in level sensors is also growing. Large volumes of data may be gathered and analyzed from level sensors due to an IoT connection. With the use of this data, one may determine usage trends, find leaks or other anomalies, and decide on the best course of action for water management.
  • Rise in Initiatives of Industry 4.0 - Industry 4.0, or the fourth industrial revolution, is scheduled to take place globally. It will provide customized and adaptable mass production technologies, connect the physical and digital worlds, and advance manufacturing process automation. Therefore, the adoption of level sensor is also projected to grow as a application of Industry 4.0. 

Challenges

  • Growing Key Players Competition
  • High Cost of Level Sensor - The level sensor market expansion may be hampered by the high expenses associated with the research, development, and use of fluid sensor technology for the measurement of numerous parameters, including fluid pressure, temperature, level control, volume, and others.
  • Lack of Adoption of Digital Process - Industry 4.0, which brought smart manufacturing processes which employ cyber-physical systems to monitor a factory's physical processes and make decentralized choices, entered the 21st century after the first three industrial revolutions in the 18th and 19th centuries. The Internet of Things (loT) replaces the physical systems, utilizing the wireless network to coordinate and interact in real-time with humans and other systems. With the introduction of Industry 4.0, manufacturers need to adopt digital processes to prosper in the more competitive market. However, lack of adoption owing to the need for huge investment the level sensor market is set to restrain.

Level Sensor Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~8%

Base Year Market Size (2023)

~ USD 5 Billion

Forecast Year Market Size (2036)

~ USD 11 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Level Sensor Segmentation

Device Type (Contact Type, Non-Contact Type)

The non-contact segment in the level sensor market is projected to generate the highest revenue share of about 60% in the coming years. The industry is witnessing a shift from contact to non-contact type due to its superior flexibility, measurement accuracy, and reduced maintenance requirements. Electronic devices that produce the electromagnetic field needed for level measurement are known as non-contact/continuous level sensors. These sensors provide more flexibility in terms of applications and function faster. Furthermore, these sensors are resistant to corrosion, have extended lifespans, and require little maintenance to function effectively. Due to these features, customers strongly favour non-contact device types, which account for a significant portion of the global level sensor market.

Industry (Chemical & Petrochemical, Pharmaceutical, Energy & Power, Oil & Gas, Waste & Wastewater Treatment, Food & Beverages)

The oil & gas segment in the level sensor market is projected to gather the highest revenue share of over 30% in the coming years. The growth of the segment is set to be dominated by rising demand for oil & gas. It was anticipated that by 2023, the world's demand for crude oil (including biofuels) will have grown to over 100 million barrels per day from about 98 million barrels per day in 2022. Hence, in order to ensure effective operation and administration in the oil and gas sector, level sensors are crucial for monitoring fluid levels in storage and process tanks.  

Our in-depth analysis of the global level sensor market includes the following segments:

          Device Type

  • Contact Type
  • Non-Contact Type

         Industry

  • Chemical & Petrochemical
  • Pharmaceutical
  • Energy & Power
  • Oil & Gas
  • Waste & Wastewater Treatment
  • Food & Beverages
  • Others

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Level Sensor Industry - Regional Synopsis

North American Market Forecast

The North America level sensor market is projected to account for 35% of the revenue share by 2036. The major element for the growth of the market in this region is the growing population. North America's population as of 2024 is over 381,048,004, up about 0.56% from 2023. As a result, this is increasing food demand. However, to satisfy this demand the need for efficiency is also growing. Hence, to operate effectively, and prevent downtime and production losses, food and beverage manufacturers need precise and dependable monitoring of the level, mass, or volume inside storage and process tanks. Due to this, the demand for level sensors is also predicted to rise over the coming years. Additionally, the investment in automation in this region is also surging which is also estimated to boost the market demand.  

APAC Market Analysis

The level sensor market in Asia Pacific is also projected to have significant growth during the forecast period. One of the main factors driving up demand for level sensors in the region is the abundance of semiconductor manufacturers in China, South Korea, and Japan. Additionally, level sensors are projected to grow more in demand as a result of government-driven programmes, for instance initiatives in India such as "Digital India" and "Make in India," which are expected to increase smartphone and other consumer electronics penetration in the area. Moreover, the region's level sensor market has significant growth potential due to the rapid industrial growth, the abundance of mining, petrochemical processing, and automotive sectors, as well as refineries. Additionally, the production of chemicals is also growing in this region. To ensure safety and avoid explosions, chemicals are manufactured under sanitary circumstances and with the highest care. Therefore, the adoption of level sensor in chemical industry in this region is growing.

Research Nester
Level Sensor Market Size
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Companies Dominating the Level Sensor Landscape

top-features-companies
    • Emerson Electric Co.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • AMETEK, Inc.
    • Garner Industries, LLC
    • Bindicator
    • Magnetrol International, Inc.
    • OMEGA Engineering Inc.
    • MTS System
    • Pepperl+Fuchs Pvt. Ltd.
    • Endress+Hauser Group Services AG
    • Gems Sensors, Inc.

In-the-news

In The News

  • June 11, 2021: Emerson created the world's first non-contacting radar device, the Rosemount 1408H Level Transmitter, especially for the food and beverage sector, to address the demand for extremely accurate and dependable level monitoring in sanitary applications. A clean, compact design, quick sweep technology, excellent radar beam focusing, and IO-Link connectivity are just a few of the dedicated features that enable producers to maximize operational efficiency, minimize product losses, and guarantee food safety.
  • April 21, 2021: The announcement has been made that AMETEK, Inc., a leading provider of sophisticated analytical, monitoring, testing, calibrating, and display equipment, has acquired Magnetrol, Orion equipment, SWI, and Introtek.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5738
  • Published Date: Feb 27, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market surge in the adoption of level sensors in automobiles, the growing deployment of IoT in level sensors, and the rise in initiatives of Industry 4.0.

The market size of level sensor is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Emerson Electric Co., AMETEK, Inc., Garner Industries, LLC, Bindicator, and others.

The non-contact type segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Level Sensor Market Report Scope
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