PUBLISHER: The Business Research Company | PRODUCT CODE: 1409567
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409567
“Level Transmitter Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on level transmitter market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for level transmitter? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The level transmitter market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Level transmitters are instruments designed to provide continuous level measurement across the entire range of a system rather than at a single point. They generate an output signal directly correlating to the level within a vessel.
The main types of level transmitters are categorized as contact and non-contact. Contact transmitters come into direct contact with the substance whose level is to be measured. Various technologies are employed, including capacitive, ultrasonic, radar, differential pressure or hydrostatic, magnet cities, radiometric, and others. These transmitters can be positioned by float or submersible methods and find applications in industries such as oil and gas, chemicals, water and wastewater, food and beverages, pharmaceuticals, and others.
The level transmitter market research report is one of a series of new reports from The Business Research Company that provides level transmitter market statistics, including level transmitter industry global market size, regional shares, competitors with level transmitter market share, detailed level transmitter market segments, market trends, and opportunities, and any further data you may need to thrive in the level transmitter industry. This level transmitter market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The level transmitter market size has grown steadily in recent years. It will grow from $3.32 billion in 2023 to $3.43 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth observed in the historical period can be attributed to various factors, including the expansion of industrial automation, growth in the process industry, increasing emphasis on safety and environmental concerns, the implementation of stringent regulations, globalization trends, the upgrading of aging infrastructure, and a focus on water and wastewater management.
The level transmitter market size is expected to see steady growth in the next few years. It will grow to $3.95 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The anticipated growth in the forecast period can be attributed to factors such as the increasing demand for wireless level transmitters, a focus on energy efficiency, advancements in oil and gas exploration, initiatives related to smart cities, and ongoing market consolidation. Key trends expected in the forecast period include the integration of data analytics and artificial intelligence, the incorporation of Internet of Things (IoT) technology, the adoption of non-contact level measurement methods, the implementation of remote monitoring and control systems, integration with Supervisory Control and Data Acquisition (SCADA) systems, and a trend towards customization and scalability in level transmitter technologies.
The growth of the level transmitter market is expected to be propelled by the increasing adoption of industrial automation. Industrial automation involves the use of control systems, such as computers or robots, and information technologies to handle various processes and machinery in an industry, aiming to achieve superior performance compared to manual control. Level transmitters play a crucial role in enabling automation in industrial settings. According to Eagle Technology Inc., a New Zealand-based company specializing in systems integration and information management, it is projected that the global industrial automation market will reach $297 billion by 2026. Additionally, automation is anticipated to impact job roles, with about 30% of jobs in approximately 60% of all occupations being automated. The adoption of industrial automation is thereby fueling the demand for the level transmitter market.
The level transmitter market is expected to experience growth due to an increase in water shortages. Water shortages occur when the demand for water surpasses the available supply, leading to insufficient access to clean and safe water. Level transmitters assist in monitoring and managing water levels in reservoirs, tanks, and distribution systems, contributing to optimized water usage and efficient water resource management. UNESCO, a France-based specialized agency promoting world peace, reported in March 2023 that globally, 2 billion individuals, or 26% of the global population, lack access to clean drinking water. Additionally, 3.6 billion people, accounting for 46% of the world's population, do not have access to adequately managed sanitation services. The number of urban residents facing water shortages is expected to double by 2050. Consequently, the increase in water shortages is propelling the growth of the level transmitter market.
Innovation emerges as a key trend in the level transmitter market, with major companies striving to develop innovative solutions to enhance their market positions. For instance, Hawk Measurement Systems (HAWK), an Australia-based company specializing in level, positioning, asset monitoring, and fiber optic sensing systems, launched CGR PoE in July 2022. This Guided Wave Radar Level Transmitter features Power over Ethernet communications and is recognized as the industry's first of its kind. The CGR PoE level transmitter connects to the HawkEye365 website, facilitating real-time monitoring of numerous tanks globally. Power over Ethernet connectivity provides secure in-plant and remote monitoring, as well as remote sensor setup, diagnostics, and troubleshooting capabilities.
Major companies in the level transmitter market are also embracing advanced technologies such as Frequency Modulated Continuous Wave (FMCW) technology to introduce sophisticated radar level transmitters with enhanced features to the industrial market. FMCW technology is a radar technique used for measuring the distance and properties of a target. For instance, AMETEK Magnetrol, a US-based manufacturer of instrumentation, launched the Pulsar Model R80 radar level transmitter in August 2022. This transmitter incorporates FMCW technology and operates at an 80 GHz frequency for superior performance, enhanced resolution, and improved accuracy. The Pulsar Model R80 features configuration wizards and proactive diagnostics, simplifying commissioning and troubleshooting. It is minimally affected by turbulence, foam, or excessive vapors, making it suitable for various applications. The transmitter is SIL 2 compliant and holds global hazardous location approvals.
In March 2021, AMETEK Inc., a US-based designer and manufacturer of electronic instruments and electromechanical devices, acquired Magnetrol International for an undisclosed amount. This strategic acquisition is expected to expand AMETEK's portfolio with innovative, advanced technology solutions. Magnetrol International is a US-based manufacturer and provider of level and flow measurement instrumentation.
Major companies operating in the level transmitter market report are Endress+Hauser Process Solutions, ABB Ltd., AMETEK Inc., Burkert Fluid Control Systems, Emerson Electric Co., Fuji Electric Co. Ltd., General Electric Company, Honeywell International Inc., Schneider Electric Corp., Semrad Pty Ltd., Siemens AG, Vega Corp., WIKA Alexander Wiegand SE & Co. KG, Yokogawa Electric Corporation, Dwyer Instruments Inc., BM Engineering Supplies Ltd., Flowline Inc., Hitachi High-Technologies Corporation, MTS Systems Corporation, Krohne Messtechnik GmbH, Applied Measurements Ltd., Automation Products Group Inc., Bindicator Co., Endevco Corporation, Fluid Components International LLC, Gems Sensors & Controls Inc., Hach Chemical Co., K-TEK Ltd., Kistler-Morse Automation Limited, Magnetrol International UK Ltd., Massa Products Corporation, Nivelco Process Control Co., Pepperl+Fuchs SE, Thermo Fisher Scientific Inc., Viatran Inc
Asia-Pacific was the largest region in the level transmitter market in 2023. The regions covered in the level transmitter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the level transmitter market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The level transmitter market consists of inductive, microwave, and magnetic level transmitters. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.