Categories: Market Research

Level Gauge Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
A level gauge is a tool for displaying the fluid level in fields. This tool is frequently used in industrial process applications to check the fluid levels in drums, tanks, pressure vessels, and other containers.

Sizing and Forecast
The level gauge market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrial expansion, regulatory compliance, globalization, energy sector growth.

The level gauge market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to automation trends, environmental concerns, safety standards, digitalization. Major trends in the forecast period include smart sensors, wireless solutions, remote monitoring, predictive maintenance, customization, augmented reality (ar).

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Segmentation & Regional Insights
The level gauge market covered in this report is segmented –

1) By Type: Tank Level, Fuel Level, Water Level, Mechanical Level
2) By Technology: Magnetic Level Gauge, Reflex Level Gauge, Tarnsparent Level Gauge, Tabular Level Gauge
3) By Industry: Oil and Gas, Chemicals, Petro-Chemicals, Pharmaceutical, Other Industries

North America was the largest region in the level gauge market in 2023. The regions covered in the level gauge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The growth of the oil and gas industries is expected to propel the growth of this level gauge market going forward. Oil and natural gas are major industries in the energy market, in oil and gas production drilling, storage, and transportation systems of oil, natural gas, and associated slurry are separated, stored, and processed in various production equipment and tanks. The measurement and control of the level are essential to ensure normal production and equipment safety. Oil level is an important measure to correctly calculate oil storage, determine inventory, and calculate transportation, due to these benefits there was a growth in the oil and gas sector. For instance, according to British Petroleum, a UK-based oil and gas company, the global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase and global natural gas demand grew 5.3% in 2021. Therefore, the growth of the oil and gas industries is driving the demand for the level gauge market.

Key Industry Players
Major companies operating in the level gauge market report are ABB Measurement & Analytics, Barksdale Inc., JBJ Techniques Ltd., Jogler LLC, KOBOLD Instruments Inc., KROHNE Messtechnik GmbH, Krueger Sentry Gauge Co., SensorsONE Ltd., Keller America Inc., Yokogawa Electric Corporation, BinMaster Inc, Ayvaz, Honeywell International Inc, FPI Sensors International, Matsushima Measure Tech, Magnetrol International, Omega Engineering Inc., PLT Mag Gage, Zhejiang Jialong Mechanical Equipment Co. Ltd., TC Fluid Control, VEGA Grieshaber KG, FEEJOY Magnetic Level, Dwyer Instruments Inc., ROSEMOUNT, SIEMENS, BÜRKERT, IFM, General Instruments Consortium, Klinger Group, Flowtech Measuring Instruments Private Limited

The level gauge market report table of contents includes:

1. Executive Summary

2. Level Gauge Market Characteristics

3. Level Gauge Market Trends And Strategies

4. Level Gauge Market – Macro Economic Scenario

5. Global Level Gauge Market Size and Growth

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31. Global Level Gauge Market Competitive Benchmarking

32. Global Level Gauge Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Level Gauge Market

34. Level Gauge Market Future Outlook and Potential Analysis

35. Appendix