According to Persistence Market Research, North America dominates the global ultrasonic level sensors market followed by Asia Pacific and Europe. The global ultrasonic level sensors market is expected to be characterized by innovative product development for varying end use sector applications over the forecast period. Consolidation of the sales network coupled with value added services by manufacturers to strengthen their market footprint is one of several insights presented in a Persistence Market Research report titled "Ultrasonic Level Sensors Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)." This report tracks the performance of the global ultrasonic level sensors market for a period of eight years, i.e. between 2017 and 2025. The global ultrasonic level sensors market was valued at just under US$ 140 Mn in 2016 and is expected to reach approximately US$ 298 Mn by the end of the forecast period in 2025.
Global Ultrasonic Level Sensors Market Drivers
- Strong demand from water & waste water management and oil & gas sectors
- Rising demand from the civic utilities sector
- Booming automotive sector requiring more ultrasonic level sensors
- Significant expansion in the industrial sector leading to increasing demand for ultrasonic level sensors
- Demand from chemicals and petroleum refineries
Forecast by End Use
Based on end use, the global ultrasonic level sensors market is segmented into medical, automotive, industrial, water & waste water management and oil & gas. Industrial segment is sub-segmented into F&B, cement, P&P, and chemical segments. Among the end use industry segments, oil & gas is expected to witness significant growth over other sectors during the forecast period. Oil skimming from refineries and prevention of oil spills in natural water bodies as mandated by regulatory agencies has been the driving factor behind this growth. The industrial segment is projected to create total incremental opportunity worth US$ 67.4 Mn between 2017 and 2025.
Forecast by Range
Medium range ultrasonic level sensors are projected to witness high demand in the coming years. The demand for medium range sensors is also expected to receive a major boost from the industrial sector. Medium range sensors are expected to gain traction in terms of market value share during the forecast period. The medium range segment is projected to create total incremental opportunity worth US$ 76 Mn between 2017 and 2025.
Forecast by Technology
Continuous ultrasonic level sensors are projected to witness high demand in the coming years. The demand for these sensors is expected to receive a major boost from end use industries such as oil & gas, food & beverages and chemical where continuous and highly thermal stable ultrasonic level sensors are required. The continuous ultrasonic level sensors segment is anticipated to hold a market share of about 65% by 2025.
Forecast by Region
North America and Europe have been early adopters of ultrasonic level sensors since the 1990s. The Asia Pacific regional market is expected to be the most attractive during the forecast period due to considerable market size and imposition of stringent regulations by local governments to optimize and safeguard natural renewable resources. APAC is projected to create total incremental opportunity worth US$ 35.6 Mn between 2017 and 2025.
ABB Limited, Endress+Hauser Management AG, Siemens AG, Krohne, Continental AG, VEGA Grieshaber KG, Hans TURCK GmbH & Co. KG, Gems Sensors, Inc., Omega Engineering Inc., KEYENCE CORPORATION, Texas Instruments Incorporated, MIGATRON CORPORATION, and Honeywell International Inc. are some of the key players operating in the global ultrasonic level sensors market.
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