Published Date: 28-Jul-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, 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.
The Level Sensor segment is showcasing a CAGR of 8.8% during (2022 - 2028). It is because level sensors monitor, maintain, and measure the level of fluids in a container. Once the level is measured, the sensor converts the observed data into an electric signal.
The Non-contact segment is leading the Global Fluid Sensors Market by Technology in 2021, thereby, achieving a market value of $12.2 billion by 2028. It is because the non-contact fluid level sensor detects the presence of fluid using the water induction capacitor. As a result of dispersed capacitance, the sensor has some static capacitance that grounds if there is no fluid approaching it.
The Oil & Gas segment has shown growth rate of 7.1% during (2022 - 2028). It is because the economy depends on the oil and gas industry. Not only does the oil and gas industry generate the bulk of primary energy, but it also serves as a key source of raw materials for chemical goods such as pharmaceuticals, solvents, fertilizers, insecticides, and polymers.
The Asia Pacific market dominated the Global Fluid Sensors Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $7.21 billion by 2028. The Europe market is estimated to witness a CAGR of 6.4% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 6.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/fluid-sensors-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By End User
Unique Offerings from KBV Research