Low Smoke Halogen Free Cable: Introduction
- Magnetostrictive level sensors are continuous float level sensors that provide near real-time level measurements by creating competing magnetic fields to generate a signal corresponding to a liquid level
- Magnetostrictive level sensors are usually connected to the output device to pass the results to the fluid monitoring system
- Expansion of the magnetostrictive level sensors market is fueled by the reduction in the size of sensors and rising adoption of magnetostrictive level sensors in various process industries
Rise in Demand for Magnetostrictive Sensors from Oil & Gas Industry
- In terms of end-user, the oil & gas industry is a rapidly expanding segment of the magnetostrictive level sensors market due to a consistent rise in the demand for magnetostrictive level sensors in the industry
- The oil & gas industry is one of the most significant end-users of magnetostrictive level sensors across the world. Extensive utilization of these sensors for monitoring storage units and downstream processing plants has maintained a consistent demand for magnetostrictive level sensors from the sector.
- Rise in crude oil production across the world is also expected to boost the global magnetostrictive level sensors market during the forecast period
- Industry 4.0 (Industry Automation) introduced smart manufacturing processes that leverage cyber-physical systems to monitor the physical processes of a factory and make decentralized decisions, which offers lucrative opportunities to the global magnetostrictive level sensor market. Magnetostrictive level sensors are extensively employed for liquid level monitoring in industrial automation.
- However, rising competition among tier 1 players offering magnetostrictive level sensors is the major restraint of the global magnetostrictive level sensor market
Asia Pacific to Lead Global Magnetostrictive Level Sensor Market
- In terms of region, the global magnetostrictive level sensor market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is anticipated to dominate the magnetostrictive level sensor market during the forecast period due to an increase in adoption of these sensors in several industry sectors, such as industrial manufacturing, industrial automation, chemicals, and pharmaceuticals, in the region
- Technological advancements and the high rate of adoption of technology in diverse industries in the region also boost the magnetostrictive level sensor market in the region
- For instance, China alone accounted for two-thirds of the demand for natural gas globally. The region is not connected by a high-pressure pipeline, as much as the other areas; therefore, the transport is more susceptible to leakages. Thus, consistent requirement of monitoring during transportation propels the demand for magnetostrictive level sensors in the country.
- The market in North America and Europe is expected to expand at a substantial rate during the forecast period due to rapid expansion of the petrochemical industry in these regions
- On the other hand, the magnetostrictive level sensor market in Middle East & Africa and South America is estimated to expand at a moderate pace during the forecast period
Key Players Operating in Global Magnetostrictive Level Sensor Market
Key players operating in the global magnetostrictive level sensor market are focused on technological advancements and expansion to cater to the rising demand for magnetostrictive level sensors. Moreover, key market players are emphasizing on several strategic initiatives to enhance business and establish their manufacturing facilities.
Key players operating in the global magnetostrictive level sensor market are:
- Emerson Electric Co.
- Vega Grieshaber KG
- Siemens AG
- Texas Instruments
- TE Connectivity
- Honeywell International Inc.
- First Sensor
- Krohne Messtechnik GmbH
Global Magnetostrictive Level Sensor Market: Research Scope
Global Magnetostrictive Level Sensor Market, by Technology
Global Magnetostrictive Level Sensor Market, by End-user
- Industry Automation
- Oil & Gas Industry
- Petrochemical Industry
- Chemical Industry
- Energy & Power Industry
- Water & wastewater Industry
- Pulp & Paper Industry
Global Magnetostrictive Level Sensor Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.