Persistence Market Research’s report titled “Ultrasonic Level Sensors Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)” tracks the performance of the global ultrasonic level sensors market for a period of eight years from 2017 to 2025. The market was valued at just under $140 Million in 2016 and is expected to reach approximately $298 Million by the end of 2025.
- Strong demand from water & waste water management and oil & gas sectors
- Rising demand from the civic utilities sector
- Booming automotive sector requiring more ultrasonic level sensors
- Significant expansion in the industrial sector leading to increasing demand for ultrasonic level sensors
- Demand from chemicals and petroleum refineries
- Based on end use, the global ultrasonic level sensors market is segmented into medical, automotive, industrial, water & waste water management and oil & gas. Industrial segment is sub-segmented into F&B, cement, P&P, and chemical segments. The industrial segment is projected to create total incremental opportunity worth $67.4 Million between 2017 and 2025.
- Medium range ultrasonic level sensors are projected to witness high demand in the coming years. The demand for medium range sensors is also expected to receive a major boost from the industrial sector. Medium range segment is projected to create total incremental opportunity worth $76 Million between 2017 and 2025.
- Continuous ultrasonic level sensors are projected to witness high demand in the coming years.
- Pacific regional market is expected to be the most attractive during the forecast period due to considerable market size and imposition of stringent regulations by local governments to optimize and safeguard natural renewable resources. APAC is projected to create total incremental opportunity worth $35.6 Million between 2017 and 2025.
- Some of the key players operating in the global ultrasonic level sensors market are ABB Limited, Endress+Hauser Management AG, Siemens AG, Krohne, Continental AG, VEGA Grieshaber KG, Hans TURCK GmbH & Co. KG, Gems Sensors, Inc., Omega Engineering Inc., KEYENCE CORPORATION, Texas Instruments Incorporated, MIGATRON CORPORATION, and Honeywell International Inc.
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