The Fluid Sensors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Fluid Sensors Global Market Report 2024, 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..
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.
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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
Technological advancements in the fluid sensors market are a key trend gaining popularity in the fluid sensors market. Major companies in the fluid sensors market are advancing in their new technologies and research and developments in the fluid sensors market. For instance, in March 2021, Bosch, a Germany-based engineering and technology company introduced the Robust Barometric Pressure Sensor (BMP384, a new sensor’s package design that uses a unique gel to protect it against the intrusion of mostly water, but also other liquids and dust. It is now simple for OEMs to incorporate a barometric sensor into goods that call for high robustness. The sensor will be used in household appliances, such as washing machines that detect water levels to ensure proper water volume measurement and prevent floods. The BMP384 is sturdy, making it perfect for use cases like vacuum cleaner blockage detection in dirty situations. It offers a temperature coefficient offset (TCO) of +/- 1.0 Pa/K, an absolute precision of +/- 50 Pa, and a relative accuracy of +/- 9 Pa. Importantly, the sensor won’t drain the batteries of portable devices with its normal power usage of just 3.2mA at 1Hz.
The fluid sensors market report table of contents includes:
- Executive Summary
- Fluid Sensors Market Characteristics
- Fluid Sensors Market Trends And Strategies
- Fluid Sensors Market – Macro Economic Scenario
- Global Fluid Sensors Market Size and Growth
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- Global Fluid Sensors Market Competitive Benchmarking
- Global Fluid Sensors Market Competitive Dashboard
- Key Mergers And Acquisitions In The Fluid Sensors Market
- Fluid Sensors Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Schneider Electric SE
- Siemens AG
- ABB Ltd
- Honeywell International Inc
- Robert Bosch GmbH
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