Fluid Sensors Global Market Report 2024

The global fluid sensors market 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%. Historical growth can be attributed to the expansion of industrial automation, the Industry 4.0 revolution, the increasing scale of manufacturing activities, the growing demand for environmental monitoring solutions, and the expansion within the automotive sector.

The global fluid sensors market 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 anticipated growth in the forecast period is fueled by a heightened emphasis on environmental monitoring, the implementation of stringent safety regulations, demands within the energy sector, advancements in agricultural automation, and enhancements in wastewater treatment technologies. Major trends expected during this period encompass the adoption of rapid prototyping and iterative design processes, the utilization of technologies across multiple industries, the development of human-machine interfaces (HMI), the implementation of digital twins and simulation techniques, and the use of flexible and customizable sensors within environmental monitoring solutions.

The fluid sensors market is poised for growth, primarily fueled by the escalating demand from the oil and gas sector to detect liquid leakages. These sensors play a critical role in identifying leakages of chemical liquids and pure water. For example, the U.S. Energy Information Administration projects an average crude oil production of 12.8 million barrels per day in 2023. This heightened need to detect liquid leakages propels the growth of the fluid sensors market.

The burgeoning expansion within the automotive industry is a significant driver behind the surge in the fluid sensors market. These sensors serve a crucial role in ensuring the proper functioning and safety of various vehicle systems by monitoring fluid parameters like pressure, temperature, level, and flow. Notably, global vehicle sales increased from 78,787,566 units in 2020 to 82,755,197 units in 2021, marking a growth of 5.03%. The rising automotive sector's expansion is directly fueling the demand for fluid sensors, amplifying the market's growth trajectory.

Technological advancements are revolutionizing the fluid sensors market, as companies focus on innovating new technologies and conducting research and development in this field. Bosch introduced the BMP384, a Robust Barometric Pressure Sensor package, designed to resist intrusion from water, other liquids, and dust. This sensor's robustness makes it ideal for various applications, including detecting water levels in washing machines to prevent floods or blockage detection in vacuum cleaners. Such advancements enhance the sensor's precision and accuracy while minimizing power consumption, contributing to the market's evolution.

Innovation continues to be a key strategy for major companies in the fluid sensors market, with a specific focus on pioneering technologies like clamp-on fluid flow sensors. These non-intrusive sensors, launched by companies like Instrumems Inc., measure liquid flow rates without physically contacting the liquid. The FD-H Series of clamp-on fluid flow sensors eliminate the need for intrusive installation methods, reducing pipe compromises and the risk of leaks. Offering expanded options for temperature and liquid concentration measurements, these sensors ensure user-friendly remote monitoring and diagnostics, contributing to real-time flow data analysis. The introduction of such innovative technologies strengthens the competitive position of these companies in the fluid sensors market.

In September 2022, Digi-Key Electronics, a prominent US-based provider of electronic components and automation products, established a partnership with Schneider Electric. This collaboration aims to elevate the customer service standards of both entities, granting customers access to an extensive range of top-tier products across diverse sectors and applications. The partnership enables customers to explore a significant portion of a comprehensive portfolio, spanning various industries, including industrial automation, power management, and numerous solutions in between. Schneider Electric, also based in the US, is renowned for delivering innovative, high-quality, and dependable products in power, automation, control, and sensor technologies. Through this strategic partnership, both Digi-Key Electronics and Schneider Electric aim to enhance customer accessibility to cutting-edge solutions, reinforcing their commitment to providing excellence across a broad spectrum of industries and applications.

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, and Qualcomm Incorporated.

Asia-Pacific was the largest region in the fluid sensors market in 2023 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. The countries covered in the fluid sensors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of fluid sensors are flow sensors and level sensors. Flow sensors are designed to measure the movement of fluids, whether liquids or gases, utilizing diverse technologies like non-contact or contact sensors. These sensors cater to a wide array of industries including automotive, water and wastewater management, oil and gas, chemical processing, as well as the food and beverage sector.

This report provides fluid sensors statistics, including fluid sensors industry global market size, regional shares, competitors with a fluid sensors market share, detailed fluid sensors market segments, market trends and opportunities, and any further data you may need to thrive in the fluid sensors industry. This fluid sensors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The fluid sensors market consists of sales of pressure level sensors, ultrasonic water level transmitters, capacitance level sensors, and radar level sensors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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