Press release
(2024-2033) Fluid Sensors Market Report: Global Size, Trends, Competitive Analysis, Types, Applications And Outlook
Fluid Sensors Market Report
The Business Research Company presents an extensive market research report on the Fluid Sensors Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The fluid sensors market size has grown strongly in recent years. It will grow from $14.62 billion in 2023 to $15.93 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to industrial automation growth, industry 4.0 revolution, rise in manufacturing activities, demand for environmental monitoring, automotive sector expansion..
The fluid sensors market size is expected to see strong growth in the next few years. It will grow to $22.22 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to environmental monitoring emphasis, stringent safety regulations, energy sector demands, agricultural automation, wastewater treatment enhancements.. Major trends in the forecast period include rapid prototyping and iterative design, cross-industry applications, human-machine interfaces (hmi), digital twins and simulation, flexible and customizable sensors..
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Key Market Players:
Major companies operating in the fluid sensors market report are Schneider Electric SE, Siemens AG, ABB Ltd., Honeywell International Inc., Robert Bosch GmbH, Emerson Electric Co., SICK AG, NXP Semiconductors N.V., Texas Instruments Incorporated, Rockwell Automation Inc., First Sensor AG, OMEGA Engineering Inc., Rechner Industrie-Elektronik GmbH, Yokogawa Electric Corporation, TE Connectivity Ltd., Murata Manufacturing Co. Ltd., TDK Corporation, Nidec Corporation, Amphenol Corporation, Broadcom Inc., Mouser Electronics Inc., Eaton Corporation, Garmin Ltd., Curtiss-Wright Corporation, Baxter International Inc., Fortive Corporation, MTS Systems Corporation, Panasonic Corporation, Samsung Group, Qualcomm Incorporated
Market Drivers:
The rising demand from the oil and gas industry for the detection of liquid leakages is expected to drive the fluid sensors market going forward. A fluid sensor helps to detect any leakage of chemical liquids and pure water. For, instance, according to the U.S. Energy Information Administration (EIA), a US-based government agency, crude oil production will average 12.8 million barrels per day in 2023. Therefore, rising demand for the detection of liquid leakages is driving the growth of the fluid sensors market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/fluid-sensors-global-market-report
The fluid sensors market covered in this report is segmented
1) By Type: Flow Sensor, Level Sensor
2) By Technology: Non-Contact Sensor, Contact Sensor
3) By End-User: Automotive, Water And Wastewater, Oil And Gas, Chemical, Food And Beverage
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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