November 3, 2021 09:00 ET | Source: Research Diving Research Diving

New York, USA, November 3, 2021 (GLOBE NEWSWIRE) - According to a report released by Research Dive, by 2028, the global fluid sensor market is expected to generate $17.354 billion in revenue and grow rapidly at a compound annual growth rate of 8.1% During the forecast period (2021-2028). The inclusive report provides a brief overview of the current situation in the market, including important aspects of the market, such as growth factors, challenges, constraints, and opportunities during the forecast period. The report also provides all market data, making it easier and helpful for new participants to understand the market.

For more detailed information, please download a free sample copy of the report at: https://www.researchdive.com/download-sample/5178

The report divides the market into different segments based on type, technology, end user, and region.

Type: The most profitable flow sensor sub-segment market

The flow sensor sub-segment market is expected to generate 10.615.8 billion US dollars in revenue during the forecast period. Flow sensors significantly reduce the use of manual measurement methods, and are widely used in various industries such as oil and gas, automobiles, chemicals, and power generation. These factors are expected to drive the growth of the sub-segment market during the forecast period.

Due to the recovery of the global oil and gas industry, fluid sensor market trends will experience a surge

Technology: Non-contact sensor sub-segment is most beneficial

During the forecast period, the non-contact sensor sub-segment is expected to generate revenue of USD 10.216.5 billion. The wide application of non-contact fluid sensors to decipher fluid volume, temperature, and velocity is expected to accelerate the growth of sub-segments during the analysis period.

End user: the most profitable power generation segment

During the forecast period, the electronic distribution department is expected to generate revenue of 4.149.2 billion U.S. dollars. Due to the rapid population growth, the subsequent global demand for electricity is expected to drive the growth of this market segment during the forecast period.

Contact our analysts to bring our insights into your business context: https://www.researchdive.com/connect-to-analyst/5178

Region: The Asia-Pacific region is expected to dominate the global market

The Asia-Pacific region is expected to generate USD 6.126.3 billion in revenue during the forecast period. It is expected that the rapid economic development of the region and the increase in industrial production speed will accelerate the growth of the Asia-Pacific market during the forecast period. In addition, the continuous development of public and private industrial infrastructure has promoted the continuous increase in the use of fluid sensors in the region's water and wastewater, oil and gas, chemical, automotive, food and beverage, automotive and other industries.

The impact of COVID-19 on the market

Due to the widespread existence of redundant blockades in countries around the world, the outbreak of the coronavirus has had an adverse impact on the global fluid sensor market. These blockades have led to the closure of many industries and factories, disrupting their production, supply chains and distribution. This leads to a consequent reduction in the demand for fluid sensors. Therefore, the pandemic has a negative impact on the global fluid sensor market.

Get an extra 10% report customization discount: Get a promotional code

Major players in the global fluid sensor market

These participants are committed to formulating strategies such as product development, mergers and acquisitions, partnerships and cooperation to maintain market growth.

Query and quickly obtain the summary report of the top company's development strategy

For example, in December 2020, CTS Corporation, a leading designer and manufacturer of sensors, actuators, and electronic components, acquired Sensor Scientific, Inc., a private temperature sensing company, to expand CTS's temperature sensing product portfolio.

The report also summarizes many important aspects, including the financial performance of the major players, SWOT analysis, product portfolio and the latest strategic developments.

Porter's five forces analysis of the global fluid sensor market: