The total level sensor market is expected to reach $4,084 million by 2018
(PRWEB UK) 30 January 2013
Level measurement is a very basic process used across several industrial segments. Due to advancement in level sensing technologies, level sensors are expected to show proper growth to 2018. The report Level Sensors Market: Global Forecast & Analysis – Focus on Technologies 2013-2018 predicts strong growth in non contact level sensing technologies such as ultrasonic level sensor and radar in the future due to their suitability for applications in hazardous environments. Similar to other electronic devices, level sensors also are increasingly becoming compact and micro-sized, due to advanced requirements in form-factor and functionality in various applications in industrial, construction, chemicals and manufacturing, food and beverages, pharmaceuticals, oil and gas, petrochemicals and several other application fields.
The total level sensor market is expected to reach $4,084 million by 2018, at a CAGR of 7.8% from 2013 to 2018. In terms of volume, the total number of level sensors shipped was 117.41 million units in 2012 and is expected to reach 248.46 million units by 2018, at an estimated CAGR of 12.9% from 2013 to 2018. North America leads the overall global level sensors market, with U.S. contributing for the largest percentage share in 2012.