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global MARKET
for level sensors to REACH $3.8 BILLION BY 2017
Level sensors are one of the largest
applications for sensor technology in the world today. Currently, industries
use several different types of sensors to detect levels of fluids and help stop
overflows. These sensors may be used to measure the level of fluids in a
container or in a natural environment such as a lake. Fluid level measurement
occurs in several ways. In the immersion method, for example, the capacitance of
the sensor circuit changes as it is immersed in fluid, thus changing the
frequency response as the fluid level rises or falls. Fluid level can also be
measured from the outside of a non-conductive container. The response frequency
from the sensor is dependent upon the inductance of the container plus the
combination of fluid and air inside it, which corresponds to the level of
liquid inside the container. Other types of more efficient sensors that are
used by industry, such as optical level switches and magnetostrictive
tank-gauging switches, offer high accuracy but at higher costs.
Over the past several years, iRAP has examined the sensor technology
industry. Within this period, sensors
technology used in level measurement has taken diverse configurations. As a
consequence, the use of this technology is changing with time. Therefore, this
report contains a thorough and detailed analysis of this technology and projects
its growth potential.
From a regional market perspective, The Asian
region is expected to exhibit growth that exceeds some of the world’s most
vibrant markets of the Americas and Europe from $915.6 million in 2012 to $1.24
billion by 2017 with a rate of 6.2% annually. This exceptional growth trend is
expected to prevail throughout the dynamic markets of the Asian region.
This study also reveals that Europe will
experience reasonable growth of an estimated 5.0% in the demand for level
sensors from $725 million in 2012 to reach $927 million in 2017. The intensity
of demand for flow devices in Europe is expected to be quite significant.
The America’s flow level sensor market, led by
the U.S., is expected to be the most dynamic market in the coming years,
exhibiting a strong market growth phase. The overall level sensor market in The
Americas is expected to grow from $879 million in 2012 to $1.1 billion in 2017
with a grow rate of 4.9% annually.
The emerging markets of the Middle
East and Africa are estimated to be stronger than Europe and The Americas. In
the five years, while Africa will see a growth rate of 5.8%, the Middle East
will see a growth rate of 5.6%.
Among sensor types, the largest share
goes to ultrasonic sensors, followed by hydrostatic. The third largest goes to
a combination of capacitance, RF and conductivity sensors followed by radar
sensors. The remaining goes to all other types of level sensors. Ultrasonic
sensors will see the largest growth rate among all level sensors.
SUMMARY table
GLOBAL MARKET FOR LEVEL SENSORS BY REGION THROUGH 2017
($ MILLIONS)
|
Region
|
2011
|
|
2017
|
CAGR%
2012 – 2017
| |
Africa
|
88.4
|
93.5
|
124.2
|
5.8
| |
Asia and Oceania
|
868.3
|
915.6
|
1239.3
|
6.2
| |
Europe
|
690.5
|
725.2
|
927.3
|
5.0
| |
Middle East
|
119.3
|
126.0
|
165.4
|
5.6
| |
The Americas
|
838.2
|
879.2
|
1116.7
|
4.9
| |
Total
|
2,604.6
|
2,739.5
|
3,572.9
|
5.5
|
Source: iRAP
SUMMARY FIGURE
GLOBAL MARKET SHARE FOR LEVEL
SENSORS BY REGION THROUGH 2017 ($ MILLIONS)
Source: iRAP
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