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. A 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, manufacturing plants are increasingly focusing on utilizing instruments that enable them to reduce power consumption and improve operational 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.
Level transmitters are widely used in businesses that require continuous monitoring to ensure effective performance and control over operations. For instance, the photovoltaic industry requires continuous monitoring of fluids used in the manufacture of photovoltaics and ultrasonic sensors are considered ideal for monitoring such applications. In fact, the production volume of photovoltaics 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 a gradual shift towards the renewable energy resources by the global economy. Moreover, the production of electronics is also increasing globally, which is further supplementing the growth of the market as these transmitters are 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 a corrosive fluid that requires 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 the 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 the food industry, textile industry, energy and power industry, and chemical industry among others.
The level transmitters are widely utilized by cement manufacturers with Siemen’s SITRANS LR400 level transmitters being one of the popular products among them. In fact, cement production at the global level improved slightly from 4,050,000 thousand metric tons in 2017 to 4,100,000 thousand metric tons in 2018 (source: U.S Geological Survey), thus, indicating, a growing market for the level transmitter manufacturers.
North America region accounted for a significant share of the 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 significant growth during the forecast period owing to advancements 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 in improving the infrastructure that will allow the transportation of oil to the global market.
The Asia-Pacific region is projected to experience the highest growth rate due to rapid urbanization and industrialization in the 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 the Asia Pacific will further boost the demand for level transmitters, thereby impacting the overall level transmitter market.
|Market size value in 2019||US$2,822.662 million|
|Market size value in 2025||US$3,673.858 million|
|Growth Rate||CAGR of 4.49% from 2019 to 2025|
|Forecast Unit (Value)||USD Million|
|Segments covered||Technology, Type, Industry Vertical, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||General Electric, Siemens AG, WIKA Instruments, ABB Ltd., Fuji Electric, Yokogawa Electric Corporation, VEGA Grieshaber, KROHNE Group, Honeywell International, Inc., Dwyer Instruments, Inc.|
|Customization scope||Free report customization with purchase|
o Differential Pressure
o Oil & Gas
o Food & Beverage
o Energy & power
o North America
o South America
o Middle East and Africa
o Asia Pacific
Frequently Asked Questions (FAQs)
Q1. What is the size of the level transmitter market?
A1. The level transmitter market was valued at US$2,822.662 million in 2019.
Q2. What will be the level transmitter market size by 2025?
A2. Level Transmitter Market is projected to reach US$3,673.858 million by 2025.
Q3. What factors are anticipated to drive the level transmitter market?
A3. The ability to provide continuous monitoring of fluids is driving the demand for level transmitters.
Q4. What are the growth prospects for the level transmitter market?
A4. The level transmitter market is expected to grow at a CAGR of 4.49% over the forecast period.
Q5. Which region holds the largest market share in the level transmitter market?
A5. North America is anticipated to grow at a stable rate during the forecast period.
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