Level Transmitter Market for radar level transmitters is expected to grow at highest CAGR during forecast period

(IT-NEWSWIRE.COM, March 13, 2020 ) The level transmitter market is estimated to grow from USD 3.0 billion in 2018 and to USD 3.7 billion by 2024, growing at a CAGR of 3.85% during the forecast period. Level transmitters are very easy to install, highly robust, resistant to turbulence, and require little maintenance. Thus, the need for more accurate and reliable continuous level measurements for inventory management, process efficiency, and safety applications has driven the level transmitter market growth. Food & beverages and pharmaceuticals industries have been witnessing steady growth owing to the increasing purchasing power and rising consumer demand. Thus, the increasing demand for process automation in these industries drives the growth of market.

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“Market for contact level transmitters is expected to hold larger share during forecast period.”

Contact level sensors are widely used in numerous verticals as these instruments are deployed in several products. Contact level transmitters are popular because of their simplicity, dependability, and low cost. Contact level transmitters are easy to install just as plug-and-play setup. The key advantage of contact level transmitters is that they require no compensation for changes in density, dielectric, or conductivity of a fluid. They are less costly than noncontact level transmitters.

“Market for radar level transmitters is expected to grow at highest CAGR during forecast period."

A radar level transmitter is not affected by changes in specific gravity, dielectric constant, temperature, or pressure. Furthermore, it contains no moving parts and has a robust pressure boundary. Thus, the market for radar level transmitters is expected to grow at a higher rate than other types of level transmitters during the forecast period. Radar level transmitters are used for liquid, slurries, solids, and interface measurement. Guided wave radar transmitters are commonly used for measuring levels of media such as paint, latex, animal fat, soybean oil, sawdust, carbon black, titanium tetrachloride, salt, and grain. Though noncontact radar level transmitters can measure levels of both solid and liquid media, they are mostly used for liquid level measurement in industries such as food & beverages, pharmaceuticals, chemicals, and oil & gas. With an increasing adoption in industries such as food & beverages, cement, and metals & mining, the demand for radar level transmitters is likely to grow at a higher rate for solids measurement applications during the forecast period.

“Oil & Gas is major end-user industry in level transmitter market.”

The oil & gas industry held the largest share of the level transmitter market in 2017 due to the rising demand for reliable and accurate level measurement systems. Level transmitters are used for a variety of processes in the oil & gas industry, including level monitoring in effluent tanks, oil separators, and hydraulic oil tanks. Level transmitters provide high performance and cost-effective measurement means for continuous level measurements in the oil & gas industry. Other applications of level transmitters in the oil & gas industry include level measurement in reservoir tanks for hydraulic oil, wave height measurement for a drilling and production platform, level detection in the ballast tank, and level measurement in an oil separator.

Ever-increasing population and rapid urbanization have brought changes in consumption patterns of products and services across end users in APAC. The rising demand for electricity, growing exports of chemicals, and increasing number of wastewater treatment plants are expected to drive the growth of the level transmitter market in APAC. The region produces 8,010 thousand barrels of oil daily. Considering the growing energy demand and the importance of reducing carbon emissions, APAC is expected to lay down new pipelines. For instance, China is expected to increase the total length of its pipelines to 240,000 KM by 2025 from 112,000 KM in 2015. Even India has planned to lay many intercity gas pipelines for a seamless fuel supply at a low cost. This would lead to the creation of more new pipelines and pipeline infrastructure.

In 2017 the level transmitter market was dominated by key players such as Endress+Hauser (Switzerland), Emerson Electric (US), VEGA (Germany), Siemens (Germany), and KROHNE (Germany).

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Level Transmitter Market for radar level transmitters is expected to grow at highest CAGR during forecast period