COVID-19 originated in the city of Wuhan, China in 2019 and has been continuously spreading worldwide since then. It has been extended to more than 180 and the U.S. tops the list, followed by India, Brazil, France and Turkey. As of 16th July 2021, World Health Organization (WHO) reported 188 million positive cases worldwide, of which 4.06 million patients lost their lives to the virus. On a positive note, 172 million patients have recovered and 3.4 billion people have been vaccinated. The pandemic has put the lockdown, travel ban and business shutdown in most countries, impacting the global economy. All the significant industries face severe disruption such as a break in the supply chain, shut down of offices and manufacturing units and many more due to the pandemic.
However, the demand for the level sensor has drastically increased in automation industries with large-scale manufacturing and storage of liquids or powdered materials. Level sensors play a crucial role in effluent tanks for wastewater management, distribution of clean water and pump stations for irrigation systems, increasing demand in the market. Also, the increase in demand of level sensors in the oil and gas sector has raised the market's growth.
Manufacturers are making many strategic decisions to come back to the market post-COVID-19. The companies are conducting many research and development activities to improve the technology involved in level sensors. With this, the companies are bringing more advance and accurate sensors to the market. Also, the use of advanced level sensors by government authorities in water management has led to the market's growth. Many companies to increase their market reach and business has done partnership with other companies or acquired other companies.
The rapid adoption of level sensors in the energy and power industries leads to its growth in the market. The rise in the demand for automated industrial operations is indirectly inducing high demand for level sensors. The adoption of level sensors in the food and beverage industry has also increased the market growth rate. The increase in the contactless solution of the level sensor has raised its demand in the market. Also, the use of the level sensor in the oil and gas sector has augmented the market's growth.
The COVID-19 pandemic and the consequent lockdowns worldwide have massively disrupted global logistics and supply chains. This has caused new challenges for manufacturing and distribution operations. The increased restrictions on goods' movement have caused havoc in the industry. China, the world's largest manufacturer of raw materials and finished products, has shut down all the manufacturing units due to the spread of viruses. As the raw material was not supplied, level sensor manufacturers worldwide have to face the shortage of the material and could not cater to the customers' demand.
The level sensor market has tremendously evaluated in the last few years. The advancement in technology has provided higher accuracy, efficiency, easy installation and level sensor maintenance, leading to its growth in the market. The increasing use of the level sensor in the oil and gas industry has raised its demand in the market. The new advanced and accurate sensors in the market have increased the government sector's need for the level sensor. Also, the adoption of this technology in different industries such as food and beverage, power generation, chemical and others has led to the market's growth. Also, the contactless solution provided by the company has raised the demand for the level sensor in the market.