Level Transmitter Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Level Transmitter Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2028
Report Digest
Level Transmitter Market – Snapshot
The development of wireless level transmitters, increasing regulatory attention on industrial safety, a high focus on industrial automation and optimum resource utilization, increasing demand for level transmitters in various end use sectors, such food and beverages and pharmaceuticals are all likely to contribute towards the expansion of the global level transmitter market in near future. In addition to that, the challenges of high-level measurement in tanks with floating roofs pose a threat to the level transmitter business.
Preserving the integrity of a finished product by accurately managing production processes and closely monitoring raw materials is critical for a manufacturing company to succeed. For better, faster, and less expensive manufacturing, some businesses have begun to implement automated process control systems. Across a wide variety of process sectors, industrial automation boosts productivity, betters quality of products, lowers cost of operation, and tackles industrial concerns about safety and health. Both the discrete and process sectors have focused on implementing best practices in order to minimize waste and improve efficiency of plants. Using plant data, such as real-time production data, to produce smarter operational as well as business choices is the way forward for boosting efficacy and optimizing production processes. As a result, there is a growing emphasis on adding equipment and software, such as level transmitters, that can help with this task.
The process of level measurement is performed by a level transmitter, which then sends the measured data across a network to distant monitoring systems. Computers are used throughout the manufacturing process to achieve factory automation. As a result of the enormous number of data generated by constant level measurement, congestion of network might occur. Excessive data may cause industry-wide system slowdowns, thereby impacting data transmission flow. Besides, the need for automation solutions, which include level transmitters, is predicted to be supported by stringent laws regulating the treatment of wastewater in many industries.
Level Transmitter Market – Introduction
Increasing growth of the industrialization trend have kickstarted developmental activities in the process automation as well as instrumentation industry. Leading players in the instrumentation and automation industry are introducing high-performance measurement devices to capitalize on increasing growth of a wide range of end-user industries.
The global market for level transmitters is growing at a healthy rate and is anticipated to surpass US$ 4 billion by 2028. The market has been undergoing positive developments with ongoing advancements in technologies. Leading players in the level transmitter market are focusing on introducing state-of-the-art level transmitters that can be used in diverse industrial applications.
Level transmitter market players are likely to bolster investments in research & development to leverage advanced technologies to further improve accuracy and reliability of their level transmitters.
Level Transmitter Market – Notable Developments
- In June 2018, Endress+Hauser – a Swiss instrumentation and process automation company – announced that it will intensify its cooperation with SAP SE – a German multinational software corporation – to develop Industrial Internet of Things (IIoT) applications for the process industry. The company aims to introduce SAP cloud platform that can tightly integrate sensor data and values from measurement devices, such as level transmitter, to capitalize on growing popularity of the digitalization trend in the instrumentation industry.
- In February 2019, The Emerson Electric Co. – an American manufacturer in the level transmitter market – announced the launch of its new Guided Wave Radar (GWR) Wireless Level Transmitter, which is a high-performance version of its Rosemount™ 3308. The new wireless radar level transmitter by Emerson provides a cost-efficient level measurement solution that can offer more accuracy and reliability in continuous level and interface monitoring applications in oil fields, chemical plants, offshore platforms, and refineries.
- In November 2018, Yokogawa Electric Corporation – a Japanese electrical engineering and software company – announced that it will acquire NKS Corporation, which is a manufacturer of measuring instruments used in various industrial applications, such as medical devices, pharmaceuticals, and food & beverage. The company aims to add NKS's validation and calibration capabilities to its existing portfolio of software package, control systems, and imaging instruments for life innovation businesses.
Some of the most prominent competitors operating in the competitive landscape of global level transmitter market include –
- VEGA
- Siemens
- Honeywell
- KROHNE
- ABB
- WIKA
- Yokogawa
- Nivelco
- Schneider Electric
- Viatran
- Bürkert Fluid Control Systems
- Spectris (Omega Engineering)
- AMETEK
- GF Piping Systems
- Magnetrol
- Monitor Technologies LLC
Level Transmitter Market Dynamics
Demand for Level Transmitters in the Oil & Gas Industry to Surge
The oil & gas industry is one of the leading end-user industry in the level transmitter market as demand for level measurement sensors remain high in critical infrastructure industrial applications. High-performance measurement devices, such as level transmitters, play a vital role in various applications in the oil & gas industry, such as monitoring oil & gas flow, reservoir tanks for hydraulic oil, level measurement and point level detection in the storage tank for solid raw materials, and level detection in the ballast tank. Leading players in the level transmitter market are focusing on introducing level transmitters with technologically advanced control features to suit changing level measurement requirements of the oil & gas industry.
Dearth of Skilled Workers may Impede Growth of the Level Transmitter Market
The level transmitter market is witnessing incremental growth with the recent advancements in technologies that are improving accuracy and reliability of measurements with level transmitters. However, skilled and experienced workforce, which is familiar with the operation of a level transmitter, is an important factor that contributes to the accuracy of measurements taken with level transmitters. Thereby, a group of knowledgeable and skilled labors is a must for incorporating level transmitters in various industrial applications, and which is why, the lack of skilled workforce continues to limit growth of the level transmitter market.
Asia Pacific to Attract Level Transmitter Market Leaders with Lucrative Growth Opportunities
The Asia Pacific region has been witnessing an unprecedented rise in urbanization and industrial developments, in turn creating a positive growth environment for stakeholders in the process automation and instrumentation industry. Leading players in the level transmitter market are eyeing increasing infrastructural developments in a wide range of industrial sectors to boost their profitable sales in the region.
Level transmitter manufacturers are adopting strategies to capitalize on the rapid growth of various industries in the region, including oil & gas, chemicals, pharmaceuticals, and food & beverage industry. Developing countries, such as China and India, are likely to create the most lucrative markets for level transmitter market players in the region, with the ongoing activities in the industrial manufacturing in emerging Asian economies.
Level Transmitter Market – Segmentation
The level transmitter market can be bifurcated on the basis of:
- Technology
- End-user Industry
Level Transmitter Market Segmentation – Technology
Based on the technologies, the level transmitter market can be classified into:
- Ultrasonic
- Capacitance
- Magnetostrictive
- Radar
- Radiometric
- Differential Pressure/Hydrostatic
Level Transmitter Market Segmentation – End-User Industry
Depending on the end-user industries, the level transmitter market can be segmented into:
- Oil & Gas
- Water & Wastewater
- Chemicals
- Metals & Mining
- Food & Beverage
- Pharmaceuticals
- Power
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