Level Transmitter Market Development Trend, Key Players & Investment Feasibility
According to the new market research report “Level Transmitter Market by Technology (Capacitance, Radar, Ultrasonic, Differential Pressure/Hydrostatic, Magnetostrictive, Radiometric), Industry (Oil & Gas, Chemicals, Water & Wastewater, Power, Metals & Mining), and Region – Global Forecast to 2024”, 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. Level transmitters are very easy to install, highly robust, resistant to turbulence, and require little maintenance. 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 drive the growth of the level transmitter market.
Diffrential pressure/hydrostatic level transmitters held largest size of the overall level transmitter market in 2017
Differential pressure/hydrostatic level transmitters are one of the most commonly used technologies for measuring liquid level in process industries such as chemicals, petrochemicals, refining, and power generation. Moreover, with advantages such as robust measuring process, uninfluenced by disruptive factors such as dust, foam, vapor, buildup, and contaminants; versatility; and cost-effectiveness, differential pressure level transmitters are expected to hold the largest share of the level transmitter market during the forecast period. Differential pressure level transmitters provide reliable protection against overfilling, high measurement certainty without mechanical wear; they also provide accurate and reliable measurement even in the vacuum and high-temperature conditions. Thus, with these advantages, differential pressure level transmitters are estimated to hold a significant market share during the forecast period.
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Oil & gas industry to dominate level transmitter market from 2018 to 2024
Safety and reliable level measurement is the most critical concern in the oil & gas industry. The level of the gas and water mixture must be measured quickly and reliably so that the gas drying process can be run effectively without any interruption. Moreover, oil from a well contains solid materials in the form of sand, and these solids need to be removed before further processing of the oil. Level transmitters provide high performance and cost-effective measurement of continuous level, point level, and interface in a wide range of applications in the petrochemicals and oil & gas industries. Level transmitters are used in a variety of processes in the oil & gas industry, including level monitoring to check for toxins such as methanol, isopropanol, ethylene glycol monobutyl ether (2-butoxyethanol), ethylene glycol (1,2-ethanediol), hydrotreated light petroleum distillates, and sodium hydroxide (caustic soda).
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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