Fluid Sensors Market Expected to Reach $25.4 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Fluid Sensors Market," The fluid sensors market was valued at $13.2 billion in 2021, and is estimated to reach $25.4 billion by 2030, growing at a CAGR of 7.45% from 2022 to 2030. 

A fluid sensor is an electrical device that monitors or controls liquid and gas flow through pipes and tubes. Fluid sensors are frequently employed with gauges to render measurements, but they can also be utilised with computers and digital interfaces. Pressure, temperature, level control, and the amount of fluid running through them are just some of the things they can measure.

The fluid sensors industry is segmented on the basis of type, technology, and end user. By type, the market is classified into flow sensor and level sensor. By technology, it is classified into non-contact sensor and contact sensor. By end user, the market is classified into automotive, water & wastewater, oil & gas, chemical, food & beverages, power & utility, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Some of the leading fluid sensors market players are Schneider Electric, Siemens, ABB, Honeywell, Robert Bosch GmbH, Emersion Electric Company, SICK AG, NXP semiconductors, Texas Instruments, and Rockwell Automation.

The report focuses on the global fluid sensors market share and the major products & applications, where fluid sensors are used, and roles of different key players that shape the market. The report focuses on the overall fluid sensors market analysis in terms of demand in various countries, presenting data in terms of both value and volume, fluid sensors market size, fluid level sensor, fluid flow sensor, as well as fluid level indicator. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.

IMPACT OF COVID-19 ON THE GLOBAL FLUID SENSORS MARKET

• COVID-19 had a negative impact on the global fluid sensors market growth. Due to increasing prevalence of corona viral transmission, many industries including automobile, oil & gas and petroleum industries were completely shut down which decreased the demand of fluid sensors considerably. This factor has resulted in negative growth of the market in the pandemic time period.
• COVID-19 impacted almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to fewer workforces. Therefore, a major decline was observed the global fluid sensors market due to impact of COVID-19.
• According to the United Nations Industrial Development Organization (UNIDO), 30.0%–70.0% of pre-COVID-19 workforce of various industries, such as electrical and other third-party vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in a decline in the growth of the fluid sensors market trends during the forecast period.

Key Findings of the Study

• On the basis of type, the flow sensor sub-segment is predicted to have a dominating share in the global market during the forecast period.
• On the basis of technology, the non-contact sensor sub-segment is estimated to have a dominating market share in the global market.
• On basis of end-user, the power and utilities sub-segment is estimated to have a dominating market share in the global market.
• On the basis of region, Asia-Pacific is projected to remain the fastest-growing segment during the forecast period.