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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Level Transmitter Market Size
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.
Level Transmitter Market Report Snapshots
Level Transmitter Market Trends
Level Transmitter Market Share
Level Transmitter Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a value of USD 6.99 billion in 2023.
The market is estimated to grow at a CAGR of 6.6% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 12.38 billion by 2032.
The key drivers of the market are the rapid growth of the oil and gas sector, rising adoption of non-contact level transmitters, and rising technological advancements such as the use of IoT.
The key regional markets for level transmitter are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The market uses capacitive, ultrasonic, radar, differential pressure/hydrostatic, magnetostrictive, radiometric, and others.
The different types of level transmitters are contact, and non-contact.
The key players in the market include Emerson Electric Co., Siemens AG, ABB Ltd., Honeywell International Inc, Yokogawa Electric Corporation, and AMETEK, Inc., among others.
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