The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Radar Level Transmitter Market Size. The growth sectors of the Radar Level Transmitter Market Size are identified with precision for a better growth perspective.
The global level transmitter market is poised to surpass USD 4 Billion at 7% CAGR over the predicted years (2017-2023). A level transmitter simply put, is an instrument that offers constant level measurement. This is also used for determining the liquid level or bulk-slid at a specific time. The level of media namely fuels, viscous fluids and water or dry media namely powders and bulk solids can be measured with the help of a level transmitter.
It is used in numerous applications which need level measurement within tanks or containers. Such transmitters are often used in water treatment, chemical, power, food and beverage industries and material handling. Some of the key benefits of using level transmitters include accurate readings, easy installation, easy accessibility and no re-setup required.
There are ample factors that is boosting the growth of the level transmitter market. These factors as stated by the Market Research Future (MRFR) report include remote deployment, ease of installation, growing demand for precise level measurement in various industries namely food and beverages, chemicals, water and wastewater management and oil and gas, and increasing need for wireless connectivity. On the contrary, lack of awareness about level transmitters, network congestion and lack of skilled workers are factors that may hinder the level transmitter market growth over the predicted years.
MRFR report offers a wide segmental analysis of the level transmitter market on the basis of type, technology and industry.
Based on type, the level transmitter market is segmented into magneto strictive, displacer, radar, differential pressure and capacitance. Of these, differential pressure will have the largest share in the market over the predicted years.
Based on technology, the level transmitter market is segmented into contact type (point level) and non-contact type (continuous level).
Based on industry, the level transmitter market is segmented into paper, power, metal and mining, chemical, oil and gas. Of these, oil and gas will domineer the market over the predicted years.
By region, the level transmitter market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will sway the market over the predicted years. This is owing to the presence of key market players, growing manufacturing sector, industry 4.0, industrial automation and large customer base. The level transmitter market in Europe will have the second major share over the predicted years and is likely to have a lucrative growth followed by Asia Pacific. The level transmitter market in the APAC region is predicted to grow at the fastest pace with regards to revenue over the predicted years. This is owing to increasing urbanization and increasing investments made in the industrial sector. The majority of the oil & chemical plants are using level transmitters in the refining process and this in turn is propelling the market growth here and is predicted to continue in the forthcoming years. Moreover, the research and development and industrial revolution by leading players in this region for generating cost-effective product portfolio are fueling the market growth. On the other hand, the level transmitter market in the Middle East and Africa and Latin America is predicted to experience a moderate growth over the predicted years.
Leading players profiled in the level transmitter market include Magnetrol International (U.S.), Wika Instrument, LP (U.S.), Vega Grieshaber Kg (Germany), Fuji Electric Co., Ltd. (Japan), Endress+Hauser Consult AG (Switzerland), Rockwell Automation (U.S.), Schneider Electric (France), General Electric (U.S.), Honeywell International Inc. (U.S.), Yokogawa Electric Corporation (Japan), Siemens AG (Germany), Emerson Electric Co. (U.S.), ABB Ltd. (Switzerland), and others.
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