PUBLISHER: The Business Research Company | PRODUCT CODE: 1674017
PUBLISHER: The Business Research Company | PRODUCT CODE: 1674017
A tank level monitoring system is an advanced device designed for tracking fluid levels within atmospheric tanks. This system accomplishes the monitoring task by detecting the static pressure created by the height of the fluid. This is typically achieved using a tube installed within the tank, and the system displays the volume or level of the fluid.
The tank level monitoring systems market covered in the report is segmented by product into invasive and non-invasive systems. Invasive tank level monitoring systems typically use sensors or probes physically placed inside the tank to directly measure the level of the liquid or gas. Various technologies are employed in tank level monitoring systems, including float and tape gauge, conductivity, ultrasonic, capacitance, radar-based, and other technologies. These systems find applications in diverse industries such as oil & fuel, power plants, mining, automotive, and others.
The tank level monitoring system market research report is one of a series of new reports from The Business Research Company that provides tank level monitoring system market statistics, including tank level monitoring system industry global market size, regional shares, competitors with a tank level monitoring system market share, detailed tank level monitoring system market segments, market trends and opportunities, and any further data you may need to thrive in the tank level monitoring system industry. This tank level monitoring system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The tank level monitoring system market size has grown strongly in recent years. It will grow from $1.1 billion in 2024 to $1.17 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to improved production planning with level monitoring, rise in mining activity and technological advancements.
The tank level monitoring system market size is expected to see strong growth in the next few years. It will grow to $1.59 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing demand from process industries, emerging markets growth, hydrogen economy and increasing merger and acquisitions. Major trends in the forecast period include technological advancements, partnerships and acquisitions for brand expansions, investing in wireless technologies, IoT based products, and developing thermally enabled solutions for tank level monitoring.
The increasing demand from process industries for tank-level monitoring systems is contributing to market growth in the forecast period. Industries such as chemical plants, pulp and paper, steel mills, power generation, and glass manufacturing require these systems to meet safety and efficiency standards. Overfilling tanks can lead to waste, production delays, increased cleanup costs, and fines, driving the demand for effective monitoring solutions. For instance, in September 2022, the Energy Information Administration, a US government agency, reported that the cumulative nameplate power capacity of active utility-scale battery energy storage systems (BESSs) in the US reached 8,842 MW in 2022, with a total energy capacity of 11,105 MWh. Most of this capacity became operational recently, with approximately 4,807 MW installed in 2022 alone. Therefore, the growing demand from process industries is driving growth in the tank-level monitoring system market.
The upsurge in mining activities has also played a positive role in influencing the tank-level monitoring system market. In mining operations, these monitoring systems are vital for accurate tracking of fuel levels in tanks. Monitoring fuel consumption and operational modes of mining and quarrying equipment aids in cost reduction, prevents fuel theft, and minimizes equipment breakdowns. For instance, data from the Energy Information Administration revealed that crude oil production in the US witnessed a notable increase of 14.05% in February 2022, reaching 11,316 barrels per day compared to 9,925 barrels per day in 2021. This surge in mining activities has consequently escalated the demand for tank-level monitoring systems, thereby stimulating market growth.
Major companies in the tank-level monitoring system market are focusing on advanced IoT solutions and AI-driven technologies to provide accurate, real-time monitoring with GPS tracking and management capabilities, enhancing operational efficiency and environmental compliance across various industries. Real-time fluid monitoring continuously assesses liquid levels in tanks, while GPS tracking delivers precise location data for effective management. For example, in May 2024, Iveda, a US-based company specializing in cloud video surveillance technologies, launched LevelNOW, a next-generation tracking and monitoring solution designed for efficient liquid storage management, specifically targeting oil and gas companies, industrial organizations, and government agencies. The system includes advanced fluid monitoring, GPS tracking, and real-time alerts to improve operational efficiency and ensure environmental compliance.
Major companies in the tank-level monitoring system market are leveraging advanced technologies like IoT to provide precise and reliable liquid level measurements. These systems feature unique capabilities such as high-resolution sensors and seamless integration applications, which enhance operational efficiency and safety across various industries. Liquid level monitoring involves the continuous assessment and measurement of the height or volume of liquid within a container or tank, ensuring proper management and preventing overflow or shortages. For example, in May 2024, MaxBotix, a US-based company specializing in ultrasonic sensors, launched two innovative products: the MaxBotix Ultrasonic Tank Sensor and the RangeTrack application. These offerings are designed to transform liquid level monitoring and sensor integration processes, aiming to enhance the efficiency and reliability of fluid level monitoring across different container styles.
In January 2023, Schneider Electric SE, a France-based industrial technology company, acquired AVEVA Group plc for £10 billion. This acquisition allows Schneider Electric to leverage advanced industrial software and digital twin technologies to enhance tank-level monitoring solutions, promoting greater efficiency, sustainability, and data-driven decision-making across industrial operations. AVEVA is a UK-based information technology company that specializes in tank-level monitoring systems.
Major companies operating in the tank level monitoring system market include TE Connectivity, Schneider Electric SE, Emerson Electric Co., ATEK Access Technologies, Varec Inc., Graco Inc., Piusi S.p.A., Dunraven Systems, Schmitt Industries Inc, Powelectrics Limited, Banner Engineering, Continental AG, MISENSOR, Wenzhou Shengnuo Automobile Electric Appliance Co. Ltd, Arjay Engineering, AIUT, Senix, American Sensor Technologies Inc. (AST), Centeron, Gauging Systems Inc., Pneumercator, Smartlogix, Digi International Inc, Gilbarco-Veeder Root, Construserv Group, Kronhe, Maritronics, Omnicomm, Technoton, Anytech (Pty) Ltd.
North America was the largest region in the tank level monitoring system market in 2024. The regions covered in the tank level monitoring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the tank level monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The tank-level monitoring system market consists of sales of invasive tank-level monitoring systems, non-invasive tank-level monitoring systems, and other tank-level monitoring systems. 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.
Tank Level Monitoring System Global Market Report 2025 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 tank level monitoring system 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 tank level monitoring system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The tank level monitoring system 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.