According to the ResearchAndMarkets.com, the Global Fluid Sensors market accounted for US$10.9 trillion in 2017 and is expected to reach US$20.6 billion by 2026 growing at a CAGR of 7.3% during the forecast period.
Growing demand for accurate detection of fluid level monitoring, temperature sensing and pressure sensing in the oil, gas, and chemical industry are some of the factors influencing the market growth. However, strict government regulations are restricting the growth of the market.
Fluid sensors include flow, pressure, and temperature sensors. Fluid sensors have a patented measuring method which is absolutely unique in the area of flow sensor technology. As a result, the products are mounted independent of position or flow direction and deliver most accurate measurement results despite being easy to mount. Fluid sensors find applications in almost every manufacturing and processing industry.
Amongst product type, pressure sensors segment acquired significant market share during forecast period which can be attributed to increasing application areas of various pressure sensing techniques across different end use industry. By geography, North America acquired the largest market share during the forecast period.
Read the article online at: https://www.worldpipelines.com/business-news/18062018/global-fluid-sensors-market-outlook-2017-2026/