Float Switch Sensor Market Forecast, Trend Analysis & Competition Tracking - Global Review 2017 to 2027

  • Published : Ongoing
  • Category : Industrial Goods
  • Report Code : FACT553MR

Reliability and flexibility in detecting level of liquid such as oil within a container or a tank has remained instrumental in driving the adoption of float switch sensors, in a bid to enhance quality of the respective application they are used in. For instance, the food and beverage manufacturing has always been under pressure to deliver products to meet consumer requirement and pass inspections of concerned authorities. Float switch sensor plays a vital role in maintaining liquid level in tanks to avoid improper formulation and overflow, thereby keeping the ingredients at suitable temperatures during the production process. In addition, float switch sensor being a cost efficient solution, it has witnessed significant proliferation across industrial applications including oil and gas, chemical processing and water treatment plants, to name a few.

Furthermore, the use of float switch sensor in determining level of diesel liquids or coolants is likely to grow with increase in the production of passenger cars and commercial vehicles and expanding automotive aftermarket. However, with growing technological advancements, companies have developed optical sensors, a relatively high-priced solution, that have high efficiency in detecting fluid levels. Introduction of optical sensors are likely to impede the adoption and sales of float switch sensors, in turn restricting the growth of the float switch sensor market.    

Global Float Switch Sensor Market: Introduction

A float switch sensor is a device used to identify the level of liquid within a tank. These sensors are generally used as indicators to control other devices, such as pumps. A float switch sensor identifies the level of the liquid and provides feedback. Float switch sensors are used to disengage or engage a response when the amount of liquid falls or rises to a determined level. For instance, a float switch sensor can be shaped to float in a liquid that needs to withstand a certain level, as the level drops the float comes in the range of sensor. This triggers the opening of the valve to fill the tank to the determined level. In addition, float switch sensors help in detecting leakage, provide high level and low level readings and also, control the level and temperature of the desired liquid. Float switch sensors are available in different materials, such as stainless steel and plastic. Among these, stainless steel float sensors are highly preferred by the oil and gas industry. Growth in the petrochemical and chemical processing industry has led to the higher adoption of equipment, such as float switch sensors, in the market.

Global Float Switch Sensor Market: Market Dynamics

Drivers:

Increasing demand for float switch sensors from the food and beverage industry and the petrochemical industry is anticipated to be a major driving factor for the growth of the float switch sensor market during the forecast period. Moreover, float switch sensors limit the waste of electricity and water and are easy to install. These factors are expected to drive the growth of the float switch sensor market in the near future. That apart, the different benefits of float switch sensors, such as power saving, automatic operation and reliable electronic design, will further drive the growth of the float switch sensor market over the forecast period.

Restraint:

Lack of awareness regarding several different applications is expected to be a deterrent to the growth of the float switch sensor market over the forecast period.

Global Float Switch Sensor Market: Segmentation

The global float switch sensor market can be segmented on the basis of type, material and application.

By type, the float switch sensor market can be segmented into:

  • Vertical Switches
    • Top Mounted
    • Bottom Mounted
  • Horizontal Switches
  • Custom Multi-level Switches

By material, the float switch sensor market can be segmented into:

  • Stainless Steel Float Switches Sensors
  • Plastic Float Level Switches Sensors
  • Miniature Stainless Steel Float Switches Sensors

By application, the float switch sensor market can be segmented into:

  • Food & Beverage
  • Chemical Processing
  • Water Treatment Plant
  • Petrochemical
  • Shipbuilding
  • Aircraft and Aerospace

Global Float Switch Sensor Market: Regional Outlook

North America is anticipated to witness immense growth in the float switch sensor market, owing to expansion of the chemical industry in the region. Moreover, the region is also experiencing a rise in the demand for float switch sensors from the food and beverage industry. Asia Pacific is expected to dominate the float switch sensor market, due to the anticipated growth of the shipbuilding industry in the coming years. Western Europe, in particular, is expected to witness growth in the float switch sensor market due to the expected growth in the oil & gas industry during the forecast period. The Middle East and Africa region is also projected to support the growth of the float switch sensor market over the forecast period, owing to the presence of large oil refineries in the region. Latin America and Japan are expected to grow with substantial CAGRs during the forecast period.

Global Float Switch Sensor Market: Market Participants

Examples of some of the market participants identified across the value chain of the global float switch sensor market include:

  • SMD Fluid Controls
  • Hamilton Electronics
  • Madison Company
  • MATelec Australia
  • FPI Sensors
  • Cynergy Components
  • Savolite
  • Deeter Electronics Ltd.
  • Gems Sensors
  • S.R.I. Electronics

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

  • Market Dynamics
  • Market Size
  • Market Segments
  • Demand & Supply Trends
  • Current Issues and Challenges
  • Companies and Competitor Landscape
  • Value Chain
  • Technology

Regional Segments Analyzed Include

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

Highlights from the Report

  • Elaborated scenario of the parent market
  • Transformations in the market dynamics
  • Detailed segmentation of the target market
  • Historical, current and forecast market size based on value and volume
  • Latest industry developments and trends
  • Competition landscape
  • Strategies adopted by the market players and product developments made
  • Potential and niche segments, along with their regional analysis
  • Unbiased analysis on performance of the market
  • Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness

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