MarketsandMarkets’ research report,"Vibration Level Switch Market by Technology, Application, Industry, and Region - Global Forecast to 2023", sees the global vibration level switch market reaching $605.5 million by 2018 and hitting $833.8 million by 2023, growing at a CAGR of 6.6% during that period. Benefits over other point level measurement technologies, growing demand in pharmaceuticals and food and beverages industries, and emphasis on safety of overfill protection systems appear to be key factors driving the growth of the vibration level switch market. The major restraint for the market is impaired performance of vibration level switches in certain media and the requirement of diversified certifications for end markets is a key challenge.
Takeaways
- Vibrating fork level switch is estimated to hold the largest share of the overall vibration level switch market in 2018
- Liquids applications expected to dominate the vibration level switch market from 2018 to 2023
- Food & Beverages industry to dominate the vibration level switch market from 2018 to 2023
- Demand from Europe is expected to dominate the global vibration level switch market in 2018.
- The vibration level switch market was dominated by key players such as Endress+Hauser (Switzerland), Emerson Electric (US), VEGA Grieshaber (Germany), KROHNE (Germany), and Siemens (Germany).
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