- Increased investments in manufacturing and greater automated production to fuel demand in emerging economies
LONDON, Nov. 15, 2012 /PRNewswire/ -- Multiple advantages will fuel the continued dominance of non-contact level sensors in the global level sensors and transmitters markets. Overall, the market will make a recovery on the back of revived projects that were shelved or postponed during the economic recession.
However, economic turmoil in Europe is causing many multinationals to reconsider their investment plans. In contrast, emerging economies such as China and India are witnessing greater investment and increasingly automated production. The continuous investments in manufacturing facilities are expected to be a strong driver for the instrumentation market in China, in particular.
New analysis from Frost & Sullivan (http://www.sensors.frost.com), Global Level Sensors and Transmitters Markets, finds that the global level sensors and transmitters markets earned revenues of $4,048.7 million in 2011 and estimates this to reach $5,319.5 million in 2018.
"Field instruments, such as level sensors and transmitters, are set to experience positive growth in China," noted Frost & Sullivan Senior Industry Analyst V. Sankaranarayanan. "This will be due to rising investments in areas such as petroleum, natural gas, and petrochemicals."
Non-contact level measurement, in particular, is expected to continue increasing due to the benefits these devices offer.
"Non-contact level measurements essentially ensure a contamination free-environment because there is no contact from the sensor, as found in other forms of level indication such as mechanical, capacitance or conductivity," explained Sankaranarayanan. "The non-contact nature of the level indication is also attractive to industries where the medium being measured is of a corrosive nature as found in the chemical/petrochemical industry."
Overall, the restoration of health in end-user industries, along with a growing number of projects, will promote market growth. The establishment of new process plants, re-investment in plant renovation and modernisation, capacity expansions, and technology developments will further support the uptake of level sensors and transmitters, globally.
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SOURCE Frost & Sullivan