According to MRFR, the Global Level Transmitter Market is expected to grow at a 4.98% CAGR, observing substantial growth over the forecast period. The market was valued at USD 2,984.4 Million in 2018 and is poised to reach USD 4,166.7 Million by 2025.
Factors anticipated to drive the level transmitter market during the forecast period are the rising need for continuous level monitoring and growing automation across diverse industries. Growing demand for reliable and accurate level transmitters is a major driver of growth in the transmitter market at global level. Level transmitters are often mounted on top of tanks and can also be quickly installed and removed. Using wireless communication these can also be connected to display. Growing use of wireless instruments is another factor fueling global market growth. Another factor expected to increase is the growing usage of non-contact level transmitters for various applications for level transmitters in end-use industries.
Nonetheless, study of the effects of network congestion and constraint is expected to limit market growth over the forecast period. In addition , the increasing demand for radar level transmitters is expected to serve as an opportunity for the global transmitter market over the forecast period.
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The Global Level Transmitter Market has been segmented based on End-User, Type, Product, and Region.
Based on Product, the market has been divided as magnetic level transmitter, radar level transmitter, digital level transmitter, capacitance level transmitter, ultrasonic level transmitter, Hydrostatic level transmitter, displacer level transmitter. The magnetic level transmitter segment held the largest market share in 2018, with a market valuation of USD 561.7 million over the review period.
The market was divided into contact and non-contact, based on Size. The contact form group accounted for the greater market share with the highest market value in 2018. Pressure level transmitters with the help of probes are in direct contact with the measuring fluid. These tools are used to calculate liquid level by conductive level switches, float switches, vibrating forks and others. The non-contact level transmitter form is a premium level measuring system that is costly but that provides accurate and reliable data readings.
The market was classified into oil & gas, chemicals, power generation, and others based on End-user. In 2018, the oil & gas segment represented the greater market share, with the highest market value. Over the forecast period power generation is expected to grow at the highest CAGR. The that technical developments and the growing demand from offshore production facilities for reliable and accurate measuring instruments increase the demand for level transmitters in the oil & gas field. The chemical industry is gaining popularity because of the growing market demand, beverages, manufacturing, and pharmaceutical companies. The power generation sector manufactures a large amount of energy for various end-users such as residential, commercial, and industrial.
The global level market for transmitters has been segmented into Asia-Pacific, North America , Europe, and the rest of the world, by country.
Due to the area making substantial investments in energy infrastructure to meet the rising demands of the oil & gas industry, North America is expected to dominate the global level transmitter market during the forecast period.
Asia Pacific market is expected to experience the highest revenue growth over the forecast period. Rising investment in the industrial sector, coupled with increasing urbanization, are factors that drive target demand growth in Asia Pacific.
The Key Players in the Global Level Transmitter Market are WIKA Alexander Wiegand Se & Co. KG (Germany), Vega Grieshaber Kg (Germany), Magnetrol International, Inc.(US), Krohne Ltd (Germany), Dwyer Instruments, Inc. (US), Baker Hughes (US), Emerson Electric Co. (US), ABB Group (Switzerland), Siemens Ag (Germany), Honeywell International, Inc. (US), Yokogawa Electric Corporation (Japan), Schneider Electric Se (France), Endress+Hauser Management Ag (Switzerland), Ametek, Inc. (US), and Fuji Electric Co (Japan) among others.