Global Level Sensors and Switches Market - Global Forecasts Based on End-User and Opportunity Assessment by Technavio
According to the latest market study released by Technavio,
the global
level sensors and switches market is expected to reach USD 108.4
billion by 2021, growing at a CAGR of more than 3%.
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Technavio has published a new report on the global level sensors and switches market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global
Level Sensors and Switches 2017-2021’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.
Level sensors and switches are extensively used in industrial process
applications for measuring, monitoring, testing, scaling, and
automation. The rise in government regulations and stringent policies to
conserve the environment has led to an increased demand for level
sensors and switches. The growing need for monitoring liquid in the
process and discrete industries has introduced new growth opportunities
in the market. Level sensors and switches help detect the exact level of
fluid in vessels. The absence of these sensors and switches proves to be
extremely challenging because vessels in industrial plants contain
substances such as oil, chemical, and petrochemical that can react
dangerously in an external environment.
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Technavio’s industrial
automation research analysts categorize the global level sensors
and switches market into the following segments by end-user. They are:
-
Oil and gas industry
-
Water and wastewater treatment
-
Chemical industry
-
Food and beverage industry
-
Healthcare industry
-
Others
The top three end-user segments for the global level sensors and
switches market are discussed below:
Oil and gas industry
Level sensors and switches form an integral part of the process
industries, such as oil and gas. These sensors have simple designs and
are highly efficient in performing complex functions. As the oil and gas
industry must carry out activities in harsh environmental conditions,
level sensors and switches provide a complete range of solutions to
carry out extensive activities and solve issues related to leakage and
spilling of toxic substances.
According to Rahul Somnath Poojary, a lead automation
research analyst from Technavio, “The oil and gas industry is
observing an increase in regulations because of the increasing efforts
by the government to curb emissions, reduce carbon footprints, and
safeguard the interest of biotic and abiotic environments. The leakage
and spilling of toxic substances, which are being produced during the
operation processes, have impacted the environmental conditions
drastically.”
Water and wastewater treatment
The water and wastewater industry is the second major contributor to the
revenue of the global level sensors and switches market. It is expected
to grow at a steady rate because of the growing investment and increase
in the number of wastewater treatment plants worldwide. The rise in
infrastructural development to treat wastewater and transport it to
commercial and household purposes is the major driver for the global
level sensors and switches market.
“APAC has been suffering from the lack of fresh water and
contamination of water resources because of increased wastewater
emission from the industries. The stringent policies by governments have
led to increased number of wastewater treatment plants, thereby leading
to the overall increase in the revenue of the global level sensors and
switches market,” says Rahul.
Chemical industry
Many industrial users prefer highly efficient level sensors that measure
the exact fluid level in the container along with the temperature, as
the temperature is a key factor that has a greater impact on chemicals.
Level sensors and switches possess the excellent property of regulating
fluid flow and enabling shut off in the case of disruption in normal
processes.
Chemicals like butadiene, propylene, and ethylene, which are produced
during the extraction of shale gas, are deployed as feedstocks in the
chemical industry. Level sensors and switches, which are non-contact
type, are usually used in the chemical industry.
The top vendors highlighted by Technavio’s research analysts in this
report are:
-
ABB
-
Emerson
-
Honeywell International
-
Rockwell Automation
-
Schneider Electric
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
If you are interested in more information, please contact our media team
at media@technavio.com.
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