banner

Blog

Jan 26, 2024

Level Transmitter Market to Grow at a CAGR of 5.5% from 2023

Growing industrialization processes, and technological advancements, will drive the development of level transmitters.

Wilmington, Delaware, United States, March 22, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – The global level transmitter market generated US$ 3.1 billion in 2022 and the global market is expected to generate US$ 4.9 billion by 2031. The global industry is forecast to grow at a CAGR of 5.5% between 2023 and 2031. As industrialization spreads and automation processes become more sophisticated, business growth is projected to be driven by these factors.

The market value of radar-level transmitters is increasing worldwide as the food & beverage and wastewater industries expand. The surge in wireless radar-level transmitters, long-distance communication, and industrialization advancements will drive industry growth. As a strategy to boost sales, major companies are offering high-performance transmitters at relatively low prices.

Request for a Sample PDF Report with Latest Industry Insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85499

Using their functional properties in production activities and industrial processes has led to a dramatic increase in demand for more efficient production methods. With new government initiatives targeting industrial safety and increased demand for level sensor solutions, the market for level transmitters is expected to grow.

Both developed and developing nations will continue to industrialize, which in turn will lead to a rise in the demand for level transmitters. Increasing accuracy and reliability in monitoring and regulating processes contribute to the market. With the invention of wireless technology, the process has become easier and less expensive for companies to install level transmitters. Increasing product offerings has opened up new opportunities for companies in the market.

Increasing industrialization and automation in the Asia Pacific and North American regions will increase the demand for level transmitters. As the market for safety compliance grows, companies in these regions offer innovative and intelligent level transmitters. Hydrostatic-level transmitters with hydraulic pressure diaphragms are also used for marine applications in these regions to expand the market.

Key Findings of the Market Report

Owing to the ability to focus energy on a rod, radars with guided wave technology are expected to dominate the market.

Fossil fuels and level sensors will experience continued growth in the oil and gas industries holding a large market share for level transmitters.

Level transmitters with no-contact operations that provide accurate and reliable readings to dominate the market.

Increasing solutions for non-invasive and wireless level measurement to expand the United States market for level transmitters.

Technology such as Industry 4.0 will play a significant role in driving the growth of the Asia Pacific region's market.

Buy this Premium Research Report | Immediate Delivery Available - https://www.transparencymarketresearch.com/checkout.php?rep_id=85499&ltype=S

Global Level Transmitter Market: Growth Drivers

Level transmitters have played a significant role in automating the manufacturing process in recent years. Besides improving efficiency and accuracy, automation helps businesses to reduce their operating costs. Further, automation enables a greater degree of flexibility and customization when designing products, which in turn leads to higher levels of sales in the market.

Technological advancements have increased the accuracy, reliability, and cost-effectiveness of level transmitters. Their ability to monitor and control processes in a cost-effective and timely manner allows them to gain a competitive advantage in the market.

With the growing number of safety-related incidents and accidents that have had a detrimental impact on the workplace, companies are now focusing more on improving workplace safety standards. Level transmitters are essential for maintaining the workspace at the appropriate level at all times, which is a vital part of this process.

Global Level Transmitter Market: Regional Landscape

Several established and emerging players operating in the Asian Pacific region, which will contribute to level transmitter sales in the market.

Rapid economic expansion and widespread urbanization in developing countries such as India and China provide excellent growth prospects.

Over 3,700 level transmitters are estimated to be sold annually in Asia Pacific, primarily in China, Japan, and South Korea.

Level transmitters accounted for more than 30% of the North American market in 2022.

Technological advancements in oil and gas, and the pharmaceutical industry are contributing to the growth of level transmitters in the United States market.

As per your requirement you can customize this report - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=85499

Global Level Transmitter Market: Key Players

Some of the key market players in the global level transmitter market are ABB, AMETEK.Inc, Azbil Corporation, Endress+Hauser, Group Services AG, KROHNE Group, MTS Systems Corporation, Schneider Electric, Siemens AG, VEGA, WIKA Group, and Yokogawa Electric Corporation.

KROHNE, a world leader in industrial process instruments, has introduced its newest capacitance level switch, their OPTISWITCH 6700. Additionally, it offers 10-Link communications and point-level liquid and solid detection. Besides detecting high and low levels, the OPTISWITCH 6700 can protect against overfills and dry levels.

ABB has introduced its new LLT100 laser-level transmitter, which measures solids and liquids. The LLT100 has a narrow laser beam that allows it to work against obstructions like mixing blades, grids, or obstructive objects in tanks or silos. With the LLT100, surface change is tracked continuously and rapidly.

Global Level Transmitter Market: Segmentation

By Technology

Radar

Hydrostatic

Ultrasonic

Piezoresistive

Capacitive

Microwave

Magnetic

Displacer

Others (Laser, Potentiometric, etc.)

By Type

Contact

Non-contact

By End-Use Industry

Oil & Gas

Food & Beverage

Chemical

Energy & Utility

Metal & Mining

Pharmaceutical

Automotive

Aerospace & Defense

Others (Pulp & Paper, Marine, etc.)

By Region

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us

Nikhil SawlaniTransparency Market Research Inc.CORPORATE HEADQUARTER DOWNTOWN,1000 N. West Street,Suite 1200, Wilmington, Delaware 19801 USATel: +1-518-618-1030USA – Canada Toll Free: 866-552-3453Website: https://www.transparencymarketresearch.com Blog: https://tmrblog.com

Email: [email protected]

Transparency Market Research Inc. – CAGR of 5.5% Request for a Sample PDF Report with Latest Industry Insights - Key Findings of the Market Report Buy this Premium Research Report | Immediate Delivery Available - Global Level Transmitter Market: Growth Drivers Global Level Transmitter Market: Regional Landscape As per your requirement you can customize this report - Global Level Transmitter Market: Key Players Global Level Transmitter Market: Segmentation By Technology By Type By End-Use Industry By Region About Transparency Market Research For More Research Insights on Leading Industries, Visit our YouTube channel - Contact Us
SHARE