DUBLIN--(BUSINESS WIRE)--The "Level Transmitter Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The level transmitter market is expected to grow at a CAGR of 4.49% over the forecast period to grow from US$2,822.662 million in 2019 to US$3,673.858 million in 2025.
Level transmitter is an instrument that provides continuous level measurement and is used to determine the level of a given liquid or bulk-solid at any given time. Factors such as increasing demand for wireless connectivity in level instrumentation and stringent regulations regarding water and wastewater treatment processes are driving the global level transmitter market growth. Moreover, the manufacturing plants are increasingly focusing on utilizing instruments enable them to reduce power consumption and improve operation efficiency. The ability of level transmitters to provide continuous monitoring of liquid and slurries in storage and process vessels has been instrumental in its growth over the years.
The ability to provide continuous monitoring of fluids is driving the demand for level transmitters.
The level transmitters is widely used in the businesses that require continuous monitoring to ensure effective performance and control over the operations. For instance, the photovoltaic industry requires continuous monitoring of fluids used in the manufacture of photovoltaic and the ultrasonic sensors is considered ideal for monitoring for such application. In fact, the production volume of photovoltaic has increased at a CAGR of 40% over the last 15 years (source: JRC Science for Policy Report, European Commission) and is further expected to increase during the course of the forecast period with gradual shift towards the renewable energy resources by the global economy.
Moreover, the production of electronic is also increasing globally, which is further supplementing the growth of the market as these transmitters is suitable for level sensing of the fluids required in the production of different electronic equipment and devices. Thus, the continuous increase in the electronic, photovoltaic and other industries using corrosive fluid that require continuous monitoring is projected to drive the level transmitter market during the forecast period. Furthermore, the level transmitter is also used for measuring the level of boiler water tank and highly corrosive liquid. It is basically used for ensuring that the correct amount of water is added to the boiler to ensure the safety of the operation. The boiler is considered important equipment in food industry, textile industry, energy and power industry, and chemical industry among others
North America is anticipated to grow at a stable rate during the forecast period.
North America region accounted for the significant share of global level transmitter market in 2019, where the U.S. has dominated the market on account of the presence of key market players such as Honeywell International, and General Electric Co. among others. The market in this region will witness a significant growth during the forecast period owing to advancement in level sensing technology, coupled with mushrooming demand from end-use industry verticals such as petrochemicals, oil & gas, and wastewater treatment among others. The government of the United States is significantly boosting investment in order to improve its status as an oil exporter at the global level. Specifically, the government is investing on improving the infrastructure that will allow the transportation of oil to the global market.
Asia-Pacific region is projected to experience the highest growth rate due to rapid urbanization and industrialization in developing economies of China and India. Reduction in field engineering and construction costs incurred, along with rising demand for level sensing in industrial manufacturing will boost the demand for level transmitters. Significant investments and new chemical, petrochemical, and refining industries in Asia Pacific will further boost the demand for level transmitters, thereby impacting the overall level transmitter market.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Level Transmitter Market Analysis, by Technology
5.5. Differential Pressure
6. Level Transmitter Market Analysis, by Type
7. Level Transmitter Market Analysis, by Industry Vertical
7.1. Oil & Gas
7.3. Food & Beverage
7.4. Energy & power
8. Level Transmitter Market Analysis, by Geography
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. General Electric
10.2. Siemens AG
10.3. WIKA Instruments
10.4. ABB Ltd.
10.5. Fuji Electric
10.6. Yokogawa Electric Corporation
10.7. VEGA Grieshaber
10.8. KROHNE Group
10.9. Honeywell International, Inc.
10.10. Dwyer Instruments, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ihnnf7.