Global Fluid Sensors Market Size, Share & Industry Trends Analysis Report By Type (Flow Sensor and Level Sensor), By Technology (Non-contact and Contact), By End-user, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the Fluid Sensors Market
Market Report Description
The Global Fluid Sensors Market size is expected to reach $20.2 billion by 2028, rising at a market growth of 6.9% CAGR during the forecast period.
Fluids are used in a wide range of modern industrial, medical, and consumer equipment. Whether it's a small reagent vial for medical diagnostics, a big tank of acid in the process, or a hydraulic pump on an agricultural tractor, almost every piece of equipment or process system that uses fluids has a vessel that houses the fluid supply. Fluid level sensing is essential for automating systems and safeguarding equipment.
In the industrial world, fluid level sensors are commonly used. Fluid level sensors are used in automobiles to monitor a range of fluids, including petrol, oil, and, on rare occasions, specialty fluids like power steering fluid. Water level sensors can be found in domestic products such as coffee machines, while fluid level sensors can be used in industrial storage facilities for slurries. fluid level sensors can be used to determine when a fluid has fallen below a minimum level or has risen above a maximum level. Many fluid level sensors can offer a continuous monitoring of volume by detailing the particular amount of fluid in a container in relation to the minimum/maximum levels.
To detect a fluid's point level, several types of fluid level sensors can be used. Most fluid level sensors use a magnetic float, which rises and falls with the fluid in the container. When the fluid reaches a certain level, a reed magnetic switch engages. The switch is typically located at the top and bottom of the container, allowing for the detection of the minimum and maximum fluid levels. A protective shield is often included with fluid level sensors to protect the magnet from turbulence or interference caused by direct contact with the fluid.
COVID-19 Impact Analysis
The fluid sensors market was negatively impacted by COVID-19. Many industries, including automobile, oil & gas, and petroleum, have been entirely shut down as a result of the rising frequency of coronaviral transmission, resulting in a significant reduction in the demand for fluid sensors. During the pandemic period, this aspect had a detrimental impact on the market. Covid-19 has had a negative impact on the fluid sensor market. Due to lower consumer demand during the pandemic, industries and sectors that use fluid sensors in equipment, including automotive, oil & gas, chemical, food & beverage, power & utilities, and others, saw a fall in growth. These issues are predicted to have a negative influence on the market for fluid sensors.
Market Growth Factors
Industrial Automation is Getting More Attention
The growing importance of industrial automation is predicted to boost fluid sensor market share growth. In industries such as automotive, manufacturing, chemical, medical, oil & gas, and power generation, advancements in quantification technologies such as optical sensing, vibrating or tuning fork, ultrasonic sensors, capacitance sensing, and others have led to a reduction in manual measurement techniques of different parameters of the fluid such as temperature, fluid pressure, and moisture, as well as fluid acceleration.
Growing Demand from the Petrochemical and Food and Beverage Industries
The fluid sensors market is predicted to grow significantly due to growing demand for constant accurate fluid recognition, verifying, and fluid analysis in ventures for precise fluid location monitoring throughout a variety of business verticals. Rapid urbanization and industrialization have resulted in a greater emphasis on the use of advanced procedures for fluid identification and analysis. All actions and cycles, including fluids, would function smoothly without the need for human intervention, due to these sensors. The rise in the vehicle industry, attributed to a rising standard of living and rising disposable income, has sparked a demand for high-end computerized solutions to ensure comfort and well-being.
Market Restraining Factors
Big data management challenges and rising data security problems
IoT is completely data-driven; worries about data privacy and security associated with IoT devices have grown in tandem with their growing popularity. Every second, IoT devices and sensors generate a massive amount of data. Many businesses and organizations are employing various types of sensors to monitor data and make decisions based on the information gathered. Because they depend more on machine-generated data for real-time business operations, it's critical to ensure that the data is accurate and that the data-gathering devices are resilient, secure, and reliable. Because the Internet of Things connects a variety of devices, malware can use more decentralized routes.
Based on Type, the market is segmented into Flow Sensor and Level Sensor. The flow sensor segment acquired the highest revenue share in the fluid sensors market in 2021. A flow sensor is an electronic system that measures or controls the flow velocity of fluids and gases through pipes and tubes. Flow sensors are often connected to gauges to display their readings, but they can also be linked to computers and digital terminals.
Based on Technology, the market is segmented into Non-contact and Contact. The contact segment registered a substantial revenue share in the fluid sensors market in 2021. Due to the rise in demand for advanced feature flow sensors in the petroleum and automobile industries is to reason for growing. Fluid sensors are increasingly being utilized to control fluid flow in pipes. Contact level devices are used to measure point or continuous levels by coming into contact with the tank media.
Based on End-user, the market is segmented into Power & Utilities, Automotive, Oil & Gas, Water & Wastewater, Food & Beverages, Chemical, and Others. The power & utilities segment garnered the highest revenue share in the fluid sensors market in 2021. Due to the need for electricity is growing an expanding population and high industrial electricity demand, which has led to an increase in the number of power-producing facilities and is promoting the expansion of the power & utility segment.
|Market size value in 2021||USD 12.8 Billion|
|Market size forecast in 2028||USD 20.2 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 6.9% from 2022 to 2028|
|Number of Pages||249|
|Number of Tables||370|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Type, Technology, End-user, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia Pacific region acquired the highest revenue share in the fluid sensor market in 2021. The growth of the market in the region is being aided by the rising rate of industrial output in the emerging and developed nations of the region, such as China, India, Japan, and South Korea, which are the key centers of production of industrial fluid sensors.
Free Valuable Insights: Global Fluid Sensors Market size to reach USD 20.2 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Schneider Electric SE, Sick AG, Robert Bosch GmbH, Texas Instruments, Inc., NXP Semiconductors N.V., Siemens AG, Honeywell International, Inc., Emerson Electric Co., and Rockwell Automation, Inc.
Recent Strategies Deployed in Fluid Sensors Market
- May-2022: ABB expanded its KPM KC7 Microwave Consistency Transmitter offering by introducing a larger flow-through sensor to fit function lines with a diameter up to 16 inches. This expansion aimed to provide more consumers the option to estimate the total surface of mixed pulps with a flow-through detector.
- May-2021: Sick introduced Sick LBR SicWave along with Sick LFR SicWave, a new non-contact radar sensing technology for real-time observance of liquid and bulk solid. The new Sick LBR SicWave is a bulk solids level sensor that delivers a range up to 120m whereas Sick LFR SicWave is a fluid level sensor that shows a maximum range of 30m.
- Apr-2021: ABB unveiled HoverGuard, a Drone-Based Gas Leak Detection System. The new HoverGuard notices, gauges, and maps leak up to 100 meters from natural gas information and distribution pipelines, converging lines, warehouse facilities, and other possible sources rapidly, securely, and accurately. In addition, HoverGuard instinctively develops complete digital reports that recapitulate outcomes and can be shared in minutes after an analysis.
- Feb-2021: Bosch Sensortec unveiled the BMP384, a robust barometric pressure sensor. The BMP384 low power utilization and high performance make it superior for home appliances, wearables, and enterprise functions in extreme ecosystem. Moreover, the new sensor's creative parcel design employs a unique gel to guard it against the entrance of water as well as other fluids and dust in mixture with the necessary combination vision.
- Jan-2021: ABB formed a partnership with ACA Systems, the dominating provider of porosity sensors. Through this partnership, the companies aimed to provide paper mill consumers with an addressed technology that balanced the procedure to allow superior roll grade when calculating online porosity. Additionally, ABB would provide the user-friendly ACA Permi to consumers as the porosity possibility within its offering.
- Nov-2020: Siemens Energy came into a partnership with ProFlex Technologies, which provides technology-driven solutions to integrity management challenges within the oil & gas industry. Together, the companies aimed to deliver spontaneous leak detection benefits for pipeline operators. Through this partnership, Siemens Energy attains complete entry to ProFlex Technologies’ digital Pipe-Safe advanced leak detection technology. Moreover, technology integrated with Siemens Energy’s Internet of Things system, would allow dealer to decrease the environmental threat linked with using infrastructure by degrading unplanned departures of outcomes into the environment.
- May-2018: Emerson completed the acquisition of Aventics, a German pneumatics technology supplier. Through this acquisition, Emerson aimed to grow its worldwide reach in the increasing fluid automation market, which provides the packaging, automotive group, food and beverage, and medical supplies enterprises. Additionally, the acquisition counts as another powerful, complementary technology offering to Emerson, building significance for customers and more growth opportunities.
Scope of the Study
Market Segments Covered in the Report:
- Flow Sensor
- Level Sensor
By End User
- Power & Utilities
- Oil & Gas
- Water & Wastewater
- Food & Beverages
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- ABB Group
- Schneider Electric SE
- Sick AG
- Robert Bosch GmbH
- Texas Instruments, Inc.
- NXP Semiconductors N.V.
- Siemens AG
- Honeywell International, Inc.
- Emerson Electric Co.
- Rockwell Automation, Inc.
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