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Fluid Sensors Market Development Potential Analysis 2018 – 2024 With Key Companies Like Omron, Honeywell International, NXP Semiconductors , TE Connectivity, Infineon Technologies AG, SICK AG, FUTEK Advanced Sensor Technology, Inc., and Yokogawa Electri
Fluid Sensors Market
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The growth in the automotive industry attributed to the rising standard of living and the growing disposable incomes has led to the demand for high-performance automated solutions to ensure comfort and safety. Sensors are increasingly being incorporated into vehicles by leading automobile manufacturers such as Audi and BMW. Sensors are being used for the measurement of fluid in the braking system and for water cooling & temperature detection to avoid potential dangers. Liquid sensors with integrated cable terminals and magnetic floats can be used to detect multiple fluid points or low liquid levels.
The demand for level sensors across several industry verticals such as food & beverage and petrochemical industries for the accurate detection of water level will support the fluid sensors market growth. These sensors control and monitor the liquid levels in huge vessels and tanks. Optical level sensors that can detect the interface between immiscible liquids are increasingly being deployed for applications such as tank level measurement and leak detection. Stringent government regulations in the food & beverage sector are compelling the companies to use advanced level sensors to ensure the product quality, propelling the fluid sensors market growth.
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The rising demand for the detection of liquid leakages in chemical & thermal plants, water & gas supplies, and manufacturing facilities will contribute to the fluid sensors market growth. In chemical industries, leakage results in a significant loss of capital and resources, thereby stressing the importance of incorporating sensors in the system. These sensors also find applications in the detection of early oil or chemical detection in underwater or ground vehicles that explore sea lines. Stringent regulations for environment safety pertaining to hazardous liquid leakages will further boost the fluid sensors market growth.
The fluid sensors market will witness growth in India and China due to the rapid urbanization and industrialization happening in these countries. Sensors form the core components of the latest technologies such as AI and IoT. The growing penetration of these technologies in countries including Singapore and India is anticipated to propel the fluid sensors market growth. Water and wastewater treatment projects such as National Mission for Clean Ganga (NMCG), India are demanding the installation of high-quality sensors, further supporting the fluid sensors market growth in the region.
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Key players in the fluid sensors market include Omron Corporation, Honeywell International, Inc., Schneider Electric SE, NXP Semiconductors N.V., TE Connectivity, Infineon Technologies AG, SICK AG, FUTEK Advanced Sensor Technology, Inc., and Yokogawa Electric Corporation. The fluid sensors market is characterized by the extensive R&D investments. Major players are investing in launching new and innovative solutions that differentiate their product offerings. Increasing competition among key players to launch advanced solutions will drive the fluid sensors market growth.
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