Fluid Sensors Market Was Valued at USD 13,653.8 Million In 2021, Increasing Emphasis on Industrial Automation and Growing Demand for Fluid Sensors

market is expected to be worth USD 13,653.8 million in 2021 and projected to grow at a 7.3% CAGR over 2022 to 2028. Growing demand for pressure and temperature sensors due to quick breakthroughs in new technologies in the oil and gas and chemical industries is one of the primary factors driving the fluid sensors market globally. Non-contact flow sensors are predicted to be in high demand in the food and beverage industries in the future years. Furthermore, the rising consumer electronics and wireless transmission technologies in the power-generating industry have increased the demand for sensors that can survive harsh weather conditions while providing exact readings. However, high installation costs for complicated sensors and a scarcity of qualified technicians are critical impediments to the growth of the fluid sensors industry.

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The Flow Sensor Segment is Dominating the Fluid Sensors Market:
The flow sensor segment is expected to account for a larger revenue share, and the market is expected to grow at double-digit growth rate over the forecast years owing to increasing demand for chemical and petrochemical products, as well as rising use of innovative technologies and equipment for efficient operations adopted on a large scale by manufacturers, increasing demand for accurate flow measurements and the growing need to monitor and control the flow, increasing presence of a large number of vendors, and rising demand from emerging economies, are among the major factors accelerating segment growth. Furthermore, increasing modernization of market products and rising research and development efforts in the industry would generate new chances for the flow sensor segment throughout the projected period.

North America Leads Fluid Sensors Market:
North America is expected to hold significant market share in the global Fluid Sensors Market and is projected to grow at a prominent growth rate over the forecast years owing to growing industrial production rates in countries such as India, Japan, China, and South Korea; the Asia-Pacific region is expected to have the highest growth rate over the projected period. Furthermore, improving economic development, rising per capita income, and expanding industrial infrastructure development are key factors expected to boost market expansion in the Asia-Pacific region by 2028.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Fluid Sensors market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In November 2020, Siemens Energy, a leading energy firm founded by the spin-off of Siemens Group's former Gas and Power division, announced its partnership with ProFlex Technologies, a recognized supplier of technology-driven solutions, in November 2020. The firms intended to use this collaboration to provide leak detection services to pipeline operators.

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The fluid sensors market is segmented based on by type, end use and geography.
By Type
Flow Sensor
Level Sensor

By Technology
Non-contact Sensor
Contact Sensor

By End-user
Automotive
Water and Wastewater
Oil and Gas
Chemical
Food and Beverage
Power and Utilities
Others

By Geography
North America
Europe
Asia Pacific
Latin America
MEA

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Key Players in the market are AnimalS, Vetoquinol S.A., Zoetis, Boehringer, Ingelheim GmbH, Elanco, IDEXX, Heska Corporation, Covetrus, DRE Veterinary, Mars Inc., Virbac, Televet, Phibro Animal Health Corporation, and B. Braun Vet Care.

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