"Increasing demand of greater accuracy from process industries is the major driver for the global microwave level sensor market"
NEW YORK, Sept. 7, 2016 /PRNewswire/ -- The global microwave level sensor market is expected to grow from USD 662.4 million in 2015 to USD 1,237.4 million by 2022, at a CAGR of 8.9% between 2016 and 2022. There is a need for accuracy in various process industries, such as chemicals & petrochemical, food & beverages, gasoline, paint, pharmaceutical, ceramics, metals & mining, pulp & paper, and biotechnology industries. This has increased the demand for microwave level sensors owing to their accurate measuring capacity despite various barriers. For instance, microwave level sensors can be used in chemical plants to measure viscous materials, despite the vapor, heat, and false reflections.
"The industrial application segment was the largest segment of the global microwave level sensor market in 2015"
The industrial application segment was the largest segment of the microwave level sensor market in 2015. The main reason for the growth in this segment is the increasing demand of microwave level sensors from process industries, such as chemicals & petrochemical, food & beverages, gasoline, paint, pharmaceutical, ceramics, metals & mining, pulp & paper, and biotechnology industries
"The microwave level sensor market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period"
The microwave level sensor market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The Asia-Pacific market is currently on a prosperous growth curve in terms of consumption of microwave level sensors in various end-use industries, such as food & beverage, chemicals, and semiconductors.
Break-up of the profile of primary participants is as follows:
- By Company Type: Tier 1 - 57%, Tier 2 - 26%, and Tier 3 - 17%
- By Designation: C-level - 65%, Director-level - 25%, and Others - 10%
- By Region: Asia-Pacific - 40%, North America - 30%, Europe - 20%, and RoW - 10%
Endress+Hauser AG (Switzerland), Emerson Electric Co. (U.S.), Siemens AG (Germany), Magnetrol International, Incorporated (U.S.), and VEGA Grieshaber KG (Germany) are the key players operational in the microwave level sensor market.
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the global microwave level sensor market comprehensively and provides the closest approximations of the revenue numbers for overall market and various subsegments across different application and regions.
2. The report helps stakeholders to gauge the pulse of the market and provides information on key market drivers and restraints.
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