Press release
Global Fluid Sensors Market Projected to Grow at 8.6% CAGR, Reaching $23.54 Billion by 2029
Fluid Sensors
What Will the Fluid Sensors Industry Market Size Be by 2025?
The market for fluid sensors has been on a steady increase in recent years. It is projected to expand from $15.66 billion in 2024 to $16.94 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.2%. The historic period growth is largely due to key factors such as the rise of industrial automation, the advent of the industry 4.0 revolution, an upsurge in manufacturing activities, the need for environmental monitoring, and growth in the automotive sector.
What's the Long-Term Growth Forecast for the Fluid Sensors Market Size Through 2029?
The market for fluid sensors is anticipated to witness substantial growth in the coming years, expanding to $23.54 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 8.6%. The surge in growth during the forecasted period can be accredited to an increased focus on environmental monitoring, rigorous safety rules, demands from the energy sector, advancements in agricultural automation, and improvements in wastewater treatment. Key trends expected during this period consist of quick prototyping and iterative design, applications in various industries, interfaces between humans and machines (HMI), simulations and digital twins, as well as versatile and customizable sensors.
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What Are the Key Growth Drivers Fueling the Fluid Sensors Market Expansion?
The fluid sensors market is projected to grow due to the increasing need in the oil and gas industry to detect any leakages of liquids. Fluid sensors assist in identifying leaks in chemical liquids and clean water. To illustrate, the U.S. Energy Information Administration (EIA), a government agency in the USA, forecasts that crude oil production will average 12.8 million barrels per day in 2023. Hence, the escalating need for liquid leakage detection is propelling the expansion of the fluid sensors market.
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What Are the Key Trends Driving Fluid Sensors Market Growth?
Innovations in technology in the fluid sensors market are becoming increasingly trendy. Major players in the fluid sensors market are progressing with new technologies, along with their research and development in the same market. For instance, a recent launch in February 2022 by the semiconductor manufacturing corporation, STMicroelectronics NV, based in Switzerland, unveiled the LPS22DF along with the LPS28DFW waterproof barometric pressure sensors, and the LIS2DU12 3-axis accelerometer. These sensors are characterized by their heightened precision, lower power consumption, and innovative features such as electrostatic sensing and machine learning abilities, making them perfect for use in the healthcare, consumer electronics, and smart industries. These advancements cater to enhanced user interfaces and environmental monitoring, while also facilitating longer battery life and higher performance in miniaturized designs, thus significantly propelling the development of connected and energy-saving technologies.
How Is the Fluid Sensors Market Segmented?
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
Subsegments:
1) By Flow Sensors: Mass Flow Sensors, Volumetric Flow Sensors, Differential Pressure Flow Sensors, Turbine Flow Sensors, Ultrasonic Flow Sensors
2) By Level Sensors: Capacitive Level Sensors, Ultrasonic Level Sensors, Radar Level Sensors, Pressure Level Sensors, Float Level Sensors
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Which Companies Are Leading the Charge in Fluid Sensors Market Innovation?
Major companies operating in the fluid sensors market are Schneider Electric SE, Siemens AG, ABB Ltd., Honeywell International Inc., Robert Bosch GmbH, Emerson Electric Co., SICK AG, 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, Amphenol Corporation, Mouser Electronics Inc., Eaton Corporation, Curtiss-Wright Corporation, Fortive Corporation, MTS Systems Corporation, Panasonic Corporation
Which Regions Are Leading the Global Fluid Sensors Market in Revenue?
Asia-Pacific was the largest region in the fluid sensors market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the fluid sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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