The Latin American Level Sensor Market was valued at $252.7 million in 2013, and is expected to reach $352.6 million by 2018, at a CAGR of 6.9 percent from 2013 to 2018, according to an updated report by Micromarket Monitor.
According the report, Latin America is a potential market for level sensors in the coming years and the expansion of the market in this region can be attributed to the technological advancements in level sensing technologies.
Level measurement is a very basic process used across several industrial segments; technological developments in the past decade have led to a considerable reduction in size of level sensors, which has played a major role in the growth of the level sensor market. Reduction in size and the penetration of micro-electromechanical systems (MEMS) technology into the level sensor industry has created a wide horizon of applications for level sensors in the field of automotive, aerospace & defense, healthcare, industrial chemicals, petrochemicals, water & wastewater, construction & building, energy & clean-tech, mining, paper, pulp & forestry, plastics, sludge & slurry, and food and beverages applications.
MEMS-based sensors have proven to be the perfect solution in the field of healthcare and automotives, as there is a growing need for sensors with improved performance, Micromonitor Market reports. This has propelled the growth of the level sensor market in Latin America. Countries contributing toward the Latin American level sensor market are Brazil and Argentina.
The report “Latin American Level Sensor Market Forecasted, 2013-2018,” analyzes the market in terms of eleven major technologies such as magnetostrictive, vibratory probe, hydrostatic, magnetic float, pneumatic, others (contact), and ultrasonic, microwave/radar, optical, laser, others (noncontact). Magnetic float dominates the technologies market of level sensor in Latin America with highest value. Magnetostrictive is the second largest market based on technology in Latin America.
This market is segmented and forecast based on type and application. The type segment comprises contact level sensor and non-contact level sensor. To learn more about the Micromarket Monitor report, click here.