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Global Ultrasonic Level Sensors Market: Steady Demand from Oil and Gas Industry to Drive Growth

Press release Description

Albany, New York, April 2, 2018: The global ultrasonic level sensors market is likely to grow at a CAGR of 8.6% during the assessment period 2017-2025, and reach US$ 298 Mn in revenues by the end of 2025. These insights are according to a new research report titled “Global Market Study on Ultrasonic Level Sensors: Industrial End Use Segment to Lead in Terms of Market Share Through 2025” that has been added to the comprehensive repository of Market Research Reports Search Engine (MRRSE).

The report is a valuable source of information and analysis that offers credible insights on the key factors shaping the global ultrasonic level sensors landscape. A detailed qualitative analysis, highlighting the drivers, restraints, opportunities, and trends has been included in the report. In addition, an insightful competitive landscape, highlighting the key business and product strategies of key players has been included for the perusal of readers.

According to the report, steady demand from petroleum and chemical refineries for water and wastewater management is likely to provide an impetus to the growth of the market. Growing adoption in civic utilities sector, combined with rising spate of opportunities in the automotive industry are also likely to drive growth during the assessment period. Manufacturers are focusing on launching innovative products to cater to the evolving end-user demand.

The report offers a detailed segment-wise analysis and forecast on the ultrasonic level sensors market, offering forecast and analysis on the basis of end-use, range, technology, and region. The lucid segment-wise analysis can be beneficial for readers in understanding the lucrative and sluggish avenues of growth in the market.

According to the report, demand for ultrasonic level sensors is likely to remain robust in the oil and gas industries. Strong regulatory guidelines related to prevention of oil spills is likely to provide an impetus to the adoption of ultrasonic level sensors in the oil & gas industries. In addition to oil and gas sector, demand for ultrasonic level sensors is also expected to be steady in the industrial sector – which includes chemical, F&B, P&P, and cement.

The key ultrasonic level sensor technologies available in the market include continuous and point. Between these, adoption of continuous ultrasonic level sensors is likely to remain higher, accounting for over 60% revenue share of the market. By range, the key segments include medium, short, and long – among these, medium range ultrasonic level sensors are likely to witness steady demand, and gain US$ 76 Mn in incremental opportunity during the assessment period.

Some of the leading players profiled in the global ultrasonic level sensors market include  ABB Limited, Krohne, Gems Sensors, Inc., MIGATRON CORPORATION, Continental AG, Siemens AG, Hans Endress+Hauser Management AG, VEGA Grieshaber KG, TURCK GmbH & Co. KG, Texas Instruments Incorporated, Omega Engineering Inc., KEYENCE CORPORATION, and Honeywell International Inc.

Browse Full Global Ultrasonic Level Sensors Market Report with TOC : https://www.mrrse.com/ultrasonic-level-sensors-market

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