Overview and Scope
Level transmitters are an instrument that provides continuous level measurement over the range of the system rather than at a single point and produce an output signal that directly correlates to the level within a vessel.
Sizing and Forecast
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 in the historic period can be attributed to industrial automation, process industry growth, safety and environmental concerns, stringent regulations, globalization, upgradation of aging infrastructure, 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 growth in the forecast period can be attributed to rising demand for wireless level transmitters, focus on energy efficiency, evolving oil and gas exploration, smart cities initiatives, market consolidation. Major trends in the forecast period include data analytics and artificial intelligence, internet of things (iot) integration, non-contact level measurement, remote monitoring and control, integration with scada systems, customization and scalability..
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Segmentation & Regional Insights
The level transmitter market covered in this report is segmented –
1) By Type: Contact, Non-Contact
2) By Technology: Capacitive, Ultrasonic, Radar, Differential Pressure or Hydrostatic, Magnetotrictive, Radiometric, Other Technologies
3) By Positioning: Float, Submersible
4) By Industry: Oil and Gas, Chemicals, Water and Wastewater, Food and Beverages, Pharmaceuticals, Other Industries
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
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Major Driver Impacting Market Growth
Increasing adoption of industrial automation is expected to propel the growth of the level transmitter market going forward. Industrial automation is the use of control systems, such as computers or robots, and information technologies for handling different processes and machinery in an industry to replace a human being and achieve superior performance than manual control. Level transmitters are instruments that help enable automation in industrial settings, thus, the adoption of industrial automation drives demand for level transmitters. For instance, according to Eagle Technology Inc., a New Zealand-based systems integration and information management company, by 2026, it is anticipated that the size of the global industrial automation market will increase to 297 billion USD. Also, at least 30% of the Jobs in about 60% of all occupations might be automated. Global productivity will increase by 8% to 1.4% a year as a result of automation. Therefore, the increasing adoption of industrial automation is driving the demand for the level transmitter market.
Key Industry Players
Major companies operating in the level transmitter market are advancing in technology such as FMCW technology to introduce a sophisticated radar level transmitter with advanced features to the industrial market. FMCW (Frequency Modulated Continuous Wave) technology is a radar technique used for measuring the distance and properties of a target. For instance, in August 2022, AMETEK Magnetrol, a US-based manufacturer of instrumentation, launched the Pulsar Model R80 radar level transmitter, incorporating FMCW technology and an 80 GHz operating frequency for superior performance, enhanced resolution, and improved accuracy. The transmitter 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. It is SIL 2 compliant and holds global hazardous location approvals.
The level transmitter market report table of contents includes:
1. Executive Summary
2. Level Transmitter Market Characteristics
3. Level Transmitter Market Trends And Strategies
4. Level Transmitter Market – Macro Economic Scenario
5. Global Level Transmitter Market Size and Growth
…..
31. Global Level Transmitter Market Competitive Benchmarking
32. Global Level Transmitter Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Level Transmitter Market
34. Level Transmitter Market Future Outlook and Potential Analysis
35. Appendix
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