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(IT-NEWSWIRE.COM, September 06, 2019 ) The level transmitter market is expected to grow from USD 3.0 billion in 2018 to USD 3.7 billion by 2024, at a CAGR of 3.85% from 2018 to 2024.The study involved 4 major activities to estimate the current market size for level transmitters. Exhaustive secondary research has been carried out to collect information on the market, peer market, and parent market. Validation of these findings, assumptions, and market sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. Thereafter, market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.
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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.
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“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.
“APAC is lucrative market for level transmitter suppliers.”
APAC is expected to be the fastest-growing market for level transmitters. The region has witnessed significant growth in manufacturing activities due to low manufacturing costs and supportive local governments. Furthermore, the growing demand for petrochemicals and increasing population in countries such as China and India are fueling chemicals and pharmaceuticals industries in APAC. India and China are considered as huge markets for level transmitters owing to the growing industrial manufacturing activities in these countries. Investments in the municipal water sector are expected to be high in APAC countries. This factor offers opportunities for level transmitters to penetrate the water & wastewater industry.
As of 2017, Endress+Hauser (Switzerland), VEGA (Germany), Emerson Electric (US), Siemens (Germany), and KROHNE (Germany) were the major players in the level transmitter market. These players are focusing on product launches and expansions to enhance their product offerings and expand their businesses.
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Other players in the level transmitter market include ABB (Switzerland), Honeywell (US), Yokogawa (Japan), AMETEK (US), Magnetrol (US), Schneider Electric (France), WIKA (Germany), Bürkert Fluid Control Systems (Germany), Spectris (Omega Engineering) (US), GF Piping Systems (Switzerland), Nivelco (Hungary), Viatran (US), and Monitor Technologies LLC (US).
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