Burlingame, Oct. 16, 2024 (GLOBE NEWSWIRE) — The global Fluid Sensors Market, valued at 15.26 billion dollars in 2024, is on a trajectory of rapid expansion, with projections indicating it will soar to 27.65 billion dollars by 2031, as per a recent report by Coherent Market Insights. Rising demand from oil & gas industry. Fluid sensors play a crucial role in oil & gas industry by monitoring various parameters like flow, pressure, level etc. at different stages of exploration, drilling, production and transportation. They help in improving operational efficiency by preventing equipment failure and environment hazards.
Get Sample Pages: https://www.coherentmarketinsights.com/insight/request-sample/7236
Market Dynamics
The fluid sensors market is driven by growing applications across various industries such as oil & gas, food & beverages, power generation, chemicals, water & wastewater treatment, medical, transportation and others. Fluid sensors play a vital role in process automation and control by measuring various parameters of fluid such as flow rate, pressure, level, temperature and others. With increasing demand for automation across industries, adoption of fluid sensors is also growing significantly. Moreover, growing need for safety and quality control in industrial processes is another factor fueling growth of the market.
Market Trends
Integration of IoT connectivity in fluid sensors devices is one of the key trends witnessed in the market. IoT-enabled fluid sensors offers advantages such as remote monitoring of assets and process parameters from any location. This helps end-users to gain real-time insights and optimize operations. Furthermore, growing popularity of wearable and miniature fluid sensors is another trend in the market. Miniaturization of sensing components enables development of versatile and lightweight fluid sensors for varied applications including health monitoring devices. Advancements in MEMS and biochemical engineering have facilitated production of miniaturized sensors that can seamlessly integrate with IoT infrastructure.
Fluid Sensors Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $15.26 billion |
| Estimated Value by 2031 | $27.65 billion |
| Growth Rate | Poised to grow at a CAGR of 8.9% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Sensor Type, By Fluid Type, By End-use Industry |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Growing industrial automation adoption • Increasing focus on safety and environmental regulations |
| Restraints & Challenges | • Limited availability of reliable and accurate sensors for certain applications • Complexity in integrating sensors with existing systems |
The pressure sensors segment is expected to hold a dominant position in the fluid sensors market. Pressure sensors play a vital role in monitoring fluid pressure levels across various industrial sectors such as oil & gas, water & wastewater treatment, chemical, automotive, food & beverages, and others. Pressure transmitters are extensively deployed for pressure measurement of gases and liquids in storage tanks, pipelines and process equipment. Intelligent pressure transmitters offer accurate measurement and are integrated with advanced technologies for Industrial Internet of Things (IIoT) applications.
Purchase Premium Copy of Fluid Sensors Market Growth Report (2024-2031) at: https://www.coherentmarketinsights.com/insight/buy-now/7236
Flow sensors measure the volumetric or mass flow rate of gases and liquids and are finding increasing adoption across various industries. Coriolis flow sensors are widely used for custody transfer applications in the oil & gas industry due to their high accuracy. Magnetic flow sensors are suitable for conductive liquids and are majorly used in water & wastewater treatment plants. Ultrasonic flow sensors are well-suited for clean fluids and slurries. Rising demand for measurement and control of fluid flow is expected to drive the growth of flow sensors market during the forecast period.
Key Market Takeaways
The global fluid sensors market is anticipated to witness a CAGR of 8.9% during the forecast period 2024-2031, owing to the growing need for monitoring and control of industrial fluids across various process industries.
On the basis of sensor type, pressure sensors segment is expected to hold a dominant position, owing to wide usage of pressure transmitters and switches for measurement in pipelines, vessels and process equipment.
On the basis of fluid type, liquid fluid sensors segment is expected to hold the larger market share due to extensive usage in water & wastewater treatment and chemical industries.
On the basis of end use industry, oil & gas segment is expected to hold the largest market share due to need for permanent monitoring of oil and gas pipelines and refineries. Regionally, North America is expected to hold a dominant position over the forecast period due to well-established oil & gas industry and presence of major fluid sensor manufacturers.
Key players operating in the fluid sensors market include ABB Groups, Analog Devices, Bosch Sensortec, Honeywell International Inc., Infineon Technologies AG, NXP Semiconductors N.V., Robert Bosch GmbH, Sensata Technologies and Sick AG among others. The fluid sensor market is moderately consolidated with top players accounting for major market share.
Fluid Sensors Industry News
In July 2023, STMicroelectronics, launched its latest FlightSense multi-zone distance sensors with enhanced capabilities.
In May 2023, PSGBiotech, launched its latest BioProTT FlowSU System along side updated SumoFlo CPFM-8103 single-use coriolis mass flow meter technologies.
Request For Customization: https://www.coherentmarketinsights.com/insight/request-customization/7236
Detailed Segmentation
By Sensor Type
- Pressure Sensors
- Flow Sensors
- Level Sensors
- Temperature Sensors
- Others (Density, Viscosity, etc.)
By Fluid Type
- Liquid Fluid Sensors
- Gas Fluid Sensors
By End-use Industry
- Oil & Gas
- Water & Wastewater Treatment
- Automotive
- Chemical
- Food & Beverage
- Pharmaceutical
- Others
By Region
- North America
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Have a Look at Trending Research Reports on Semiconductors Domain:
The global magnetic sensors market is estimated to be valued at US$ 3.86 Bn in 2024 and is expected to reach US$ 5.65 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
The quantum sensors market is estimated to be valued at US$ 708.6 Mn in 2024 and is expected to reach US$ 1,935.8 Mn by 2031, growing at a compound annual growth rate (CAGR) of 15.4% from 2024 to 2031.
The global fingerprint sensors market is estimated to be valued at US$ 10.26 Bn in 2024 and is expected to reach US$ 21.97 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.5% from 2024 to 2031.
The global MEMS pressure sensors market size was valued at USD 2226.91 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.14 % from 2023 to 2030.
Global swipe sensors market is estimated to be valued at USD 2.94 Bn in 2024 and is expected to reach USD 8.12 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
The global electrochemical sensors market is estimated to be valued at USD 11.87 Billion in 2024 and is expected to reach USD 21.03 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-650-918-5898 UK: +44-020-8133-4027 AUS: +61-2-4786-0457 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Add Comment