Radar Level Transmitter Market Analysis, Methodology, Segmentation and Forecast to 2023
The Radar Level Transmitter Market was valued at USD 405.1 million in 2017 and is expected to reach USD 581.2 million by 2023, growing at a CAGR of 6.3% from 2018 to 2023. Benefits of high accuracy, reliability, and stability offered by radar level transmitters; increasing demand for radar level transmitter in the water & wastewater industry; and growing emphasis on optimum utilization and efficiency of assets are the key factors driving the market’s growth. The base year considered for the study is 2017, and the forecast period considered is from 2018 to 2023. The report provides detailed information regarding the major factors influencing the growth of this market.
Benefits of high accuracy, reliability, and stability is driving the growth of radar level transmitters
Radar level transmitters are reliable, more accurate, and best suited for unstable process conditions vs. other level measurement technologies. Radar level technology offers a level measurement solution for almost every application involving solids and liquids. Radar level transmitters also work well with boiling surfaces, recirculating fluids, propeller mixers, and aeration tanks. Different types of radar level transmitters provide varied levels of accuracy depending on the type of media. Some of the key advantages of radar level transmitters are as follows:
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- Changes in dielectric, conductivity, density, pressure, temperature, and most vapor space conditions have no impact on the accuracy of level measurements
- Radar transmitters have no moving parts, so maintenance is minimal
- Ease of installation and accessibility typically located at the top of the tank, these transmitters are simple to install and remove as necessary
- Suitable for unstable process applications such as high temperatures, high pressures, and sticky fluids
Liquids, slurries, and interface measurement applications expected to dominate the radar level transmitter market from 2018 to 2023
A majority of radar level transmitters are used for level measurement of liquids, slurries, and interfaces. Since guided wave radar level devices have no moving parts, they require minimum maintenance; these transmitters can measure both level and interface between 2 media. Noncontact radar level transmitter devices require no direct contact with liquid media, owing to which, they are used for measuring a wide variety of hazardous liquids, such as heated heavy asphalt and cryogenic liquefied gases like liquefied natural gas (LNG).
Oil & gas industry to dominate the radar level transmitter market from 2018 to 2023
The oil & gas industry is the key end user in the radar level transmitter market. Radar level transmitters are used for 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). Radar level transmitters provide a high-performance and cost-effective means for continuous level measurement in the oil & gas industry. Other applications of radar level transmitters in the oil & gas industry include monitoring effluent tanks, oil separators, and hydraulic oil tanks.
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North America to dominate the radar level transmitter market from 2018 to 2023
North America is expected to dominate the global radar level transmitter market during the forecast period. The US and Canada are the major contributors to the growth of the radar level transmitter market in North America. Rapid growth in shale-gas production and innovations in oil & gas extraction processes are the key factors driving the demand for radar level transmitters in North America. It is a developed region in terms of manufacturing processes; it has well-established industries such as oil & gas, food & beverages, and chemicals. Moreover, industrial and wastewater treatment contributes to the growth of radar level transmitter market and is one of the major markets in North America.
The radar level transmitter market was dominated by the key players such as Endress+Hauser (Switzerland), Emerson Electric (US), VEGA Grieshaber (Germany), Siemens (Germany), and KROHNE (Germany).
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