Growth Of The Global Pharmaceutical Industry Is Boosting The Global Ultrasonic Level Switch Market

Ultrasonic Level Switches: Introduction

An ultrasonic level switch is a device that uses properties of sound wave propagation to provide accurate, non-contact, and reliable measurement of liquid levels. This device comprises sensors and an electronic control unit that helps in detecting presence of liquid at a particular level.
Ultrasonic level switches are manufactured from stainless steel to offer highly rugged end product. They are designed to withstand high temperatures, high pressures, and vibration as well as to function efficiently in liquids such as oils, water, and inks.
Thus, owing to their dynamic design configurations, ultrasonic level switches is an ideal choice for use in sensing applications in off-highway vehicles, printers, etc.

Request to Access Market Data @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75191

Key Drivers of Global Ultrasonic Level Switch Market

The rate of adoption of ultrasonic level switches has grown over the last few years, owing to extended durability, flexibility, and reliability of these switches, regardless of the environment. Due to their versatility and high level of functionality, ultrasonic level switches are employed to detect the level of liquid in a variety of applications including oil & gas, petrochemical, pharmaceutical, and food & beverages.
High demand for ultrasonic level switches in the oil & gas industry is primarily attributable to their extensive use in upstream, midstream, and downstream activities. The gap between demand and supply has prompted various companies to invest their financial and technological resources in exploring new oilfields and improving efficiency of oil and gas extraction.
Moreover, ultrasonic level switches are largely used in water and wastewater treatment plants to detect the accurate water level before carrying out various processes of water treatment
In addition, governments across the globe are taking initiatives for offering clean water to their citizens. Thus, the global water & wastewater treatment industry is expected to expand at a significant pace during the forecast period, due to rising concerns about protection of the environment and changing regulations regarding the environment. Additionally, increasing lack of surface water sources is laying more stress on the need to improve wastewater treatment systems globally. Considering the impact of these factors, the adoption of ultrasonic level switches in the global water & wastewater industry is expected to increase during the forecast period.
Furthermore, growth of the global pharmaceutical industry is boosting the global ultrasonic level switch market
Owing to the above-mentioned factors, the demand for ultrasonic level switches is anticipated to rise significantly during the forecast period

Contact

Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

Fluid End Assembly Market: Introduction

The global fluid end assembly market was valued at ~US$ 9.8 Bn in 2018 and is anticipated to expand at a CAGR of ~4% during the forecast period. Based on type, the triplex fluid end segment held a dominant share of the fluid end assembly market in 2018, primarily due to its high quality and low price. In terms of material, the stainless steel segment accounted for a major share of the fluid end assembly market in 2018. Demand for stainless steel fluid end assembly is high due to its excellent quality and long life. Based on application, the onshore segment constituted a significant share of the fluid end assembly market in 2018, owing to the presence of a large number of wells and lower cost of investment compared to offshore wells. The fluid end assembly market in North America is likely to expand at a substantial pace during the forecast period, owing to significant investments in exploration and production activities in the oil & gas industry in the region

Key Drivers of Fluid End Assembly Market

Of late, several oil and gas discoveries have been made across the globe. Furthermore, shale discoveries are rising at a promising rate. For instance, Russia discovered nearly 1.5 billion barrels of oil equivalent (Bboe), with new discoveries on the peninsula shelf in the Kara Sea. In Guyana, ExxonMobil made 14 discoveries during the first quarter of 2019, while Tullow Oil PLC also announced two new discoveries. These discoveries of new oil and gas reserves provide lucrative opportunities to oil and gas service companies, which use fluid end assembly for drilling. In November 2019, Tullow Oil PLC and its licensed partner Orinduick announced that they had started assessing commercial viability of two offshore Guyana discoveries after lab results indicated that the oil recovered was heavy crude oil with high sulfur content. Thus, discovery of new oil and gas reserves across the world is fueling the expansion of the fluid end assembly market.

North America to Lead Fluid End Assembly Market

North America dominated the fluid end assembly market in 2018, owing to the development of oil and gas wells in the region. Demand for fluid end assembly is expected to be high in the region during the forecast period. The fluid end assembly market in North America is estimated to expand considerably during the forecast period, led by the significant development of infrastructure related to oil and gas discoveries in the region. The U.S. accounted for the leading share of the fluid end assembly market in North America in 2018. This can be primarily ascribed to the increase in number of drilling rigs in the country. According to World Oil, the total rig count in the U.S. stood at 24,186 in 2017 and rose to 27,095 in 2018. Oil & gas players are likely to drill more wells in the country considering the upward trend of oil prices. This is estimated to drive the fluid end assembly market in the U.S. during the forecast period. The fluid end assembly market in Canada is projected to expand at a moderate pace, owing to new discoveries of unconventional oil and gas reserves in the country.

Major Developments in Fluid End Assembly Market

In August 2019, Halliburton Company bagged nine conditional contracts for drilling and completion services for Sangomar field development in Senegal from Woodside Energy (Senegal). Moreover, in July 2019, Halliburton and Kuwait Oil Company (KOC) announced that they had signed an Integrated Offshore Drilling Services contract for six high-pressure high-temperature (HPHT) exploration wells in the Arabian Gulf

Competition Landscape

The fluid end assembly market is led by multinational players operating across the globe. Prominent players functioning in the fluid end assembly market are Halliburton, The Weir Group PLC, Forum Energy Technologies, Gardner Denver, Inc, EnTrans International, LLC, and Alco Group.

Global Fluid End Assembly Market: Segmentation

Fluid End Assembly Market, by Type

Triplex Fluid End
Quintuplex Fluid End
Fluid End Assembly Market, by Material

Carbon Steel
Stainless Steel
Fluid End Assembly Market, by Application

Onshore
Offshore
Fluid End Assembly Market, by Region

North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
ASEAN
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East & Africa
About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.