PUNE, India -- According to a new market research report, "Level Sensors Market by Technology (Contact Type and Non-Contact Type), End-User Industry (Oil & Gas, Chemical, and Others), Monitoring Type (Point & Continuous), and Geography - Global Trends & Forecast To 2022" published by MarketsandMarkets, the market is expected to reach USD 4.89 Billion by 2022, at a CAGR of 5.4% during the forecast period.
The increasing worldwide automobile production, strict government regulations, and the rapid growth of industrialization in emerging economies of Asia-Pacific are some of the factors driving the level sensors market.
Industrial manufacturing is expected to lead the level sensors for end-user industries.
The growing demand for level sensing in industrial manufacturing worldwide is one of the key drivers for the market. To continue the growth of a country's economy, it is essential to implement and integrate automation technology in the manufacturing sector and in heavy industrial sectors.
Non-contact type level sensors are expected to be the largest market for level sensors.
Non--contact level sensors are increasingly being adopted in several applications and are steadily replacing contact level sensors owing to their greater accuracy and flexibility in level sensing and measurement. Non-contact level sensors are the most optimal emerging technology for the upcoming applications of level measurement for liquids and bulk solids.
The market in APAC is expected to grow at the highest CAGR during the forecast period.
The level sensors market in APAC is expected to grow at the highest CAGR between 2016 and 2022 because of the rapid industrial development in this region. The major driving factors for this market include favorable government regulatory bodies, presence of a large number of industrial manufacturing companies, and strong projected economic growth. China and India are the expected to lead the level sensor market in this region.
The report analyzes the market trends for each of the segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as Porter's five forces analysis, value chain analysis with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the growth of the infrastructure monitoring market. The report also provides qualitative and quantitative description of the verticals considered for the market. It further gives a detailed view of the market across four major geographic regions, namely, North America, Europe, APAC, and RoW. APAC is the largest as well as fastest-growing market for level sensors globally.
The report also profiles the most promising players in the level sensors market. The key players in the market are ABB Ltd. (Switzerland), AMETEK, Inc. (U.S.), Emerson Electric Co. (U.S.), Endress+Hauser AG (Switzerland), First Sensor AG (Germany), GEMS Sensors and Controls Co. (U.S.), Honeywell International Inc. (U.S.), KROHNE Messtechnik GMBH (Germany), Pepperl + Fuchs GmbH (Germany), Siemens AG (Germany), VEGA Grieshbaer KG (Germany), and NOHKEN Inc. (Japan).
Browse 79 market data Tables and 68 Figures spread through 171 Pages and in-depth TOC on "Level Sensors Market" at http://www.marketsandmarkets.com/Market-Reports/level-sensors-market-926.html
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