Global Level Transmitter Market Report and Forecast 2024-2032

Global Level Transmitter Market Outlook

The global level transmitter market size was approximately USD 6.99 billion in 2023. The market is estimated to grow at a CAGR of 6.6% during 2024-2032 to reach a value of USD 12.38 billion by 2032.

Key Takeaways

• The growing requirement for level measurement in hazardous environments supports the market growth.

• Radar, among other level transmitter technologies, is favoured for continuous, non-contact level measurement in industries such as oil and gas. In 2022, oil and gas upstream capital expenditures increased by 39% to USD 499 billion.

• The growing manufacturing sector expands the application scope of level transmitters. In 2021, the global manufacturing sector grew by 7.4%.

Continuous level measurements are important for storage tanks and silos in power plants to keep track of and control the inventory. These measurements are also important for mixing tanks or reactors to meet process operational requirements, crucial in determining product quality and reliability. In process industries, a level transmitter is a vital instrument to prevent overflow or any undesirable condition in the reactor and other vessels.

Radar proves to be the optimal selection for continuous, non-contact level measurement in industries such as oil and gas due to its immunity to process and ambient operating conditions. Hence, with the expansion of the oil and gas sector, the demand for level transmitters is anticipated to rise.

Key Trends and Developments

Expansion of the manufacturing sector; technological advancements in level transmitters; growth of the oil and gas industry; and rising adoption of non-contact level transmitters are impacting the level transmitter market growth

Global Level Transmitter Market Trends

The rising adoption of automation and IoT technology by the manufacturing sector supports the demand for advanced-level transmitters that operate wirelessly in harsh environments and provide remote access to operators.

Due to the importance of measuring oil levels in the process of storing and transporting oil, radar level transmitters are being increasingly used in the petroleum sector to prevent overflow.

Further, the ability of non-contact level transmitters to measure both liquids and solids in corrosive environments aids its use in industrial-level monitoring. These transmitters are also ideal for food and beverage applications that require stringent hygienic practices.

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Market Segmentation

“Global Level Transmitter Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Based on technology, radar dominates the global level transmitter market share, due to its versatility and suitability for highly corrosive environment

Radar level transmitters are versatile and capable of measuring levels of liquids, solids, slurries, and interfaces and are particularly suitable for highly corrosive fluids. Radar transmitters incorporated with FMCW (Frequency Modulated Continuous Wave) technology provide immediate measurement updates with zero delay. The market demand for radar transmitters with advanced features, including a protected sealed antenna, Bluetooth wireless interface, and IO-Link communication is on the rise.

Meanwhile, there is a notable surge in demand for ultrasonic level transmitters with modular design, intelligent algorithms, and easy installation.  The ultrasonic technology provides cost-effective and reliable liquid and bulk solid level measurement, with easy planning, swift setup, prolonged lifespan, and reduced maintenance costs.

Based on industry, the oil and gas sector accounts for a significant share of the global level transmitter market

In 2022, global crude oil production increased by 5.4% rate. A majority of the crude oil production occurred in the Middle East (+13%), especially in Saudi Arabia (+16%), the United Arab Emirates (+15%), Kuwait (+8.1%) and Iran (+5.9% despite sanctions). Level transmitters find wide-ranging applications across diverse industries, including oil and gas. In the oil and gas sector, they play a vital role in accurately measuring and monitoring fluid levels in tanks, vessels, and pipelines, ensuring operational efficiency, safety, and compliance with industry regulations.

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Competitive Landscape

The market players are focusing on product improvements and developing offerings as per the changing market requirements to meet industry regulations

Other notable players operating in the global level transmitter market include Yokogawa Electric Corporation, and AMETEK, Inc., among others.

Global Level Transmitter Market Analysis by Region

In North America, the US is a key regional market for level transmitters. The chemical sector contributes over 25% to USA’s GDP which necessitates producers to adopt high-quality corrosion-resistant level transmitters to ensure uninterrupted production and transportation of chemicals. The USA’s chemical sector is responsible for the production of over 70,000 diverse products for more than 750,000 end users, including the infrastructural, and commercial and household goods producers across the country.

The UK’s thriving chemical and pharmaceutical sectors add to the global demand for level transmitters, which play a crucial role in ensuring profitability and safety in industrial processes by delivering consistent and precise level measurements. As per the European Chemical Industry Council, in 2021, the chemical and pharmaceutical sector ranked second in the UK economy, generating over GBP 54 billion in exports and contributing GBP 30.7 billion in value.

Key Highlights of the Report

Level Transmitter Market Report Snapshots

Level Transmitter Market Size

Level Transmitter Market Trends

Level Transmitter Market Share

Level Transmitter Companies

Level Transmitter Market Regional Analysis