Global Fuel Level Sensor Market Size, Share, Opportunities, And Trends By Type (Ultrasonic Sensors, Capacitive Sensors, Resistive Sensors, Others), By Fuel Type (Petrol, Diesel), By End-User (Automotive, Aerospace & Defense, Marine, Mining, Others), And By Geography - Forecasts From 2024 To 2029
- Published : Jun 2023
- Report Code : KSI061615142
- Pages : 135
The global fuel level sensor market is expected to grow at a CAGR of 4.83% from US$739.286 million in 2022 to US$1,028.758 million in 2029.
A fuel level sensor is a tool used to gauge the amount of fuel in a vehicle's fuel tank. (Trucks, containers, vessels). There are numerous methods, such as capacitive, resistive film, and ultrasonic, for determining fuel level. The most typical sensors for this application are those that are resistive-based. The bolstering growth in major end-users such as automotive, aerospace, and mining is a driving factor for the global fuel level sensor market growth. The fuel level sensors are necessary for the smooth operation of modern machinery and heavy engines, increasing demand for high-performance sensors. This is anticipated to fuel the global fuel level sensor market growth during the anticipated period.
The growing automotive industry is boosting the market growth.
All automobiles have a fuel level sensor (FLS) that displays the fuel level. It reveals each vehicle's real fuel usage, supply capacity, and drainage. This avoids taking out a lot of fuel throughout each journey. The global fuel level sensor market will expand as motor vehicle production and sales increase. According to the International Organization of Motor Vehicle Manufacturers (OICA) data, global motor vehicle production has increased from 77,650,152 units in 2020 to 85,016,728 in 2022, which has shown a rise of 10% in the production rate. Furthermore, as per the same source, global motor vehicle sales have increased from 78,774,320 units in 2020 to 82,684,788 in 2021, which has shown a rise of 5% in production. Such a rise in production and sales in the automotive sector is expected to increase the use of different fuels, which requires fuel level sensors to manage fuel, boosting the overall market growth.
The increase in consumption of petroleum products is accelerating the demand for fuel level sensors.
Refining crude oil and other liquids obtained from fossil fuels yields petroleum products. Petroleum goods such as petrol, crude oil, and other additives with various compositions required in automobiles and other machinery necessitate using fuel levelers' sensors to determine the amount of gasoline remaining. The demand for fuel level sensors will rise along with using petroleum-based goods like petrol and other oils. The Energy Information Administration (EIA) reports that the U.S. petroleum consumption in 2021 was roughly 8% more than in 2020, averaging around 19.78 million barrels per day (b/d). The transportation and automotive sectors accounted for about 67% of total consumption. Also, according to the same source, Australia's petroleum consumption increased from 266.5 thousand barrels per day in 2020 to 273.6 thousand in 2021. The increase in petroleum consumption in daily applications where fuel level sensors are applied will boost the overall market growth during the forecasted period.
The North American region accounts for a significant market share in 2021.
The North American region is anticipated to dominate the global fuel level sensors market due to the widespread use of fuel level sensors in end-use applications like automotive and aerospace. The growing production and investments in such major end users are expected to provide a positive outlook for the market demand for fuel-level sensors in North America. According to the International Organization of Motor Vehicle Manufacturers (OICA) data in 2021, the vehicle production output in the USA stood at 10,060,339 in 2022, representing a 14% increase in production from 88,21,026 units in 2020. According to the International Trade Administration, in August 2022, estimates that Canada's total local aerospace production will increase from 15,621 in 2021 to 21,913 in 2022. As per the same source, in August 2021, the Canadian government implemented the Canada Aerospace Regional Recovery Initiative. This national program will contribute C$250 million (roughly US$194.21 million) over three years to assist Canada's aerospace sector in its development. The rising rate of vehicle and aerospace production in the North American region is driving up demand for fuel level sensors which is projected to boost market growth during the forecast period.
Market Developments:
- In October 2022, Turck introduced the LUS211 Ultrasonic Level Sensor, which has a local LED display. The LUS211 programmable sensor measures solid and liquid levels in a container.
- In October 2019, OMNICOMM introduced two new products to its portfolio of fuel-level sensors: the OMNICOMM LLS 5 and its explosion-proof variant, the OMNICOMM LLS-Ex 5. These next-generation adaptable fuel-level sensors provide a 99.5% Guaranteed Accuracy in measurement.
Global Fuel Level Sensor Market Scope:
| Report Metric | Details |
| Market Size Value in 2022 |
US$739.286 million |
| Market Size Value in 2029 |
US$1,028.758 million |
| Growth Rate | CAGR of 4.83% from 2022 to 2029 |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segments Covered |
|
| Companies Covered |
|
| Regions Covered |
North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Market Segmentation:
- By Type
- Ultrasonic Sensors
- Capacitive Sensors
- Resistive Sensors
- Others
- By Fuel Type
- Petrol
- Diesel
- By End-User
- Automotive
- Aerospace & Defense
- Marine
- Mining
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- Germany
- UK
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Others
- North America
Frequently Asked Questions (FAQs)
The fuel level sensor market is expected to grow at a CAGR of 4.57% during the forecast period.
The global fuel level sensor market is expected to reach a market size of US$971.263 million by 2028.
Fuel Level Sensor Market was valued at US$710.374 million in 2021.
The bolstering growth in major end-users such as automotive, aerospace, and mining is a driving factor for the global fuel level sensor market growth.
The North American region accounts for a significant share of the fuel level sensor market.
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Market Opportunities
4.4. Porter’s Five Force Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of New Entrants
4.4.4. Threat of Substitutes
4.4.5. Competitive Rivalry in the Industry
4.5. Industry Value Chain Analysis
5. GLOBAL FUEL LEVEL SENSOR MARKET BY TYPE
5.1. Introduction
5.2. Ultrasonic Sensors
5.3. Capacitive Sensors
5.4. Resistive Sensors
5.5. Others
6. GLOBAL FUEL LEVEL SENSOR MARKET BY FUEL TYPE
6.1. Introduction
6.2. Petrol
6.3. Diesel
7. GLOBAL FUEL LEVEL SENSOR MARKET BY END-USER
7.1. Introduction
7.2. Automotive
7.3. Aerospace & Defense
7.4. Marine
7.5. Mining
7.6. Others
8. GLOBAL FUEL LEVEL SENSOR MARKET BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. USA
8.2.2. Canada
8.2.3. Mexico
8.3. South America
8.3.1. Brazil
8.3.2. Argentina
8.3.3. Others
8.4. Europe
8.4.1. Germany
8.4.2. UK
8.4.3. France
8.4.4. Spain
8.4.5. Others
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.5.2. UAE
8.5.3. Others
8.6. Asia Pacific
8.6.1. China
8.6.2. Japan
8.6.3. South Korea
8.6.4. India
8.6.5. Australia
8.6.6. Others
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. Technoton
10.2. PV Clean Mobility Technologies
10.3. Rochester Sensor
10.4. KUS Technology Corporation
10.5. Nippon Seiki Co. Ltd
10.6. Mielta Technologies
10.7. Omnicomm
10.8. SSI Technologies Inc.
Technoton
PV Clean Mobility Technologies
Rochester Sensor
KUS Technology Corporation
Mielta Technologies
Omnicomm
SSI Technologies Inc.
Related Reports
| Report Name | Published Month | Download Sample |
|---|---|---|
| Hydrogen Gas Sensor Market Size & Share: Report, 2023-2028 | Aug 2023 | |
| Automotive Rain Sensor Market Size: Industry Report, 2022-2027 | Apr 2022 | |
| Automotive Sensors Market Size & Share: Report, 2022 - 2027 | Sep 2022 | |
| Oil Quality Sensor Market Size, Share & Industry Analysis, 2023 – 2028 | Mar 2023 | |
| Fog Detectors Market Size, Share & Trends: Report, 2023-2028 | Dec 2023 |
