FORT WORTH, Texas, December 15, 2014 /PRNewswire/ --
The magnetostrictive level sensor market report defines and segments the concerned market in Europe with an analysis and forecast of the revenue. This market was valued at $109.10 million in 2013 and is expected to reach $128.14 million by 2019, at a CAGR of 2.81% from 2014 to 2019. Asea Brown Boveri Ltd. (ABB) enlarged its facilities in Aberdeen, Scotland in May 2012. These support the oil and gas industry that helps achieve operational excellence and maximize production from the existing and mature installations. As this expansion helps the oil & gas industry grow, this ultimately boosts the magnetostrictive level sensor to grow as it is used for oil tank level measurement.
Browse through the TOC of magnetostrictive level sensor market for an in-depth analysis of the industry trends and segments, with help of various tables and figures.
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This report has been analyzed on the basis of component, application, and country, which contributes to the European magnetostrictive level sensor market. Applications such as consumer electronics, automotive, medical, industrial, and the medical sector focus on the magnetostrictive level sensor market. From the country side, Germany contributes the highest share, followed by the U.K., France, and Italy. Magnet, Sensing rod, and discrete components, cover the component segment of magnetostrictive level sensors.
Key companies of magnetostrictive level sensors in Europe are Asea Brown Boveri Ltd. (ABB), MTS sensors, Emerson Electric, Honeywell Sensing & Control, and Hauser AG.
The report provides mergers and acquisition, new product development, joint ventures, supply contracts, and new penetration that have taken place in this market. It covers factors that currently drive the European magnetostrictive level sensor market. A detailed comparison of the magnetostrictive level sensor market has been covered with its parent market, along with profiles of major companies in this market.
A magnetostrictive level sensor is based on magnetostriction property, which is a characteristic of ferromagnetic materials; it is type of contact level sensor. These types of materials (nickel, iron, and cobalt) experience expansion & contraction, and undergo changes when placed in a magnetic field. Ferromagnetic materials are randomly distributed when they are not magnetized. This type of sensor is mostly suitable for high temperature and high pressure applications. The response time of magnetostrictive level sensors is short, is highly reliable and accurate, and requires no calibration.
The Global Magnetostrictive Level Sensor Market is expected to reach a value of $532.0 million by 2018, at a CAGR of 5.1% from 2013 to 2018. The report on the global magnetostrictive level sensor market segments the market on the basis of application and geography.
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