LONDON--(BUSINESS WIRE)--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%.
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
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.
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:
- Honeywell International
- Rockwell Automation
- Schneider Electric
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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.
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