Level Sensor Market Size

Level Sensors Market Analysis

The level sensors market was valued at USD 4.38 billion in 2020 and is expected to reach a value of USD 7.45 billion by 2026, registering a CAGR of 10.06% over the forecast period of 2021-2026. The growing needs of Industry 4.0 and the Industrial Internet of Things (IIoT) led to an increased requirement of diagnostics and mobile-led access. Level sensors are becoming a major choice for automation in industries with large-scale manufacturing and storage of liquids or powdered materials.

• Similarly, owing to the growing demand for intelligent sensors to equip microprocessors, higher accuracy, efficiency, easy installation and maintenance, and provision of greater visibility of the performance of the machine/instrument, the development and integration capabilities of level sensors are being focused upon.
• Furthermore, initiatives, such as the Building Research Establishment's Environmental Assessment Method (BREEMA) by the United Kingdom, Leadership in Energy and Environmental Design (LEED) in the United States, and Deutsche Gesellschaft für Nachhaltiges Bauen (DGNB) by Germany, are encouraging the installation of level sensors, especially point level sensors, globally.
• These sensors play a crucial role in effluent tanks for wastewater, distribution tanks for clean water, and pump stations for irrigation systems. The stringent regulations in the developed regions, such as the United States, the United Kingdom, and Germany, in addition to the measures that support the government initiatives, are anticipated to increase the adoption of water treatment technologies.
• The ability to offer higher accuracy, efficiency, easy installation, and maintenance is anticipated to drive the level of sensor market growth. Additionally, vendors have been resorting to significant developments in terms of product launches, which have been suggestive of the same.
• For instance, Madison launched a miniature version of a continuous float level sensor by keeping the advantages of a ruggedized reed switch-based technology, for applications with a small tank footprint. Likewise, for applications across water and wastewater, fuel/oil measurement, and storage and dispensing silos, the company launched U5098 ultrasonic sensors as a non-contact version.
• With the onset of COVID-19, multiple end-user industries in the market studied have been affected due to reduced operations, temporary factory closures, etc. In the renewable energy industry, major concerns revolve around global supply chains, which are considerably slowing down production, aiming for reduced spending for new measurement systems and sensors.