Level Transmitter Market

Rising investments in the development of new technologies by the government authorities as well as private organizations & manufacturers for work process monitoring systems is contributing to the growth of the level transmitter market. Similarly, the increasing stringency of government regulations for streamlining wastewater management across the globe has encouraged various chemical, energy & power, oil & gas industries to adopt level transmitters for measuring the level of the fluid and different materials present in it. Level transmitters are used for continuous level measurement. There are various types of level transmitters present in the market including ultrasonic level transmitters, magnetic level transmitters, capacitance level transmitters, radar level transmitters, hydrostatic level transmitters, and others, which are used depending on their applications and the requirement of the customer.

The increasing adoption of automation across the globe has reduced manual labor and cost and has increased the overall efficiency of the work processes. Additionally, automation in the level transmitter market has played a vital role, allowing operators to gather level measurements of fluids, solids or any other chemical directly on the system. The automated level transmitters are being used in various industrial verticals such as food & beverages, oil & gas, chemical, and others for monitoring the level of liquids, pellets, powders, and others within a tank or vessel. Thus, the rising automation across industrial verticals is driving the market. Additionally, the increasing demand for continuous level monitoring from various industries is also propelling the growth of the level transmitter market. However, network congestion is one of the factors hindering the growth of the market.

Based on product, the level transmitter market has been segmented into ultrasonic level transmitters, magnetic level transmitters, capacitance level transmitters, radar level transmitters, hydrostatic level transmitters, displacer level transmitters, and digital level transmitters. The magnetic level transmitters segment held the largest share with a market share of 18.8% in the level transmitter market and is expected to grow at a CAGR of 4.74% during the forecast period. Magnetic level transmitters are used for accurately measuring liquid levels with the help of magnetostriction, buoyancy, and electronics technologies for measuring the level of the fluid within a chamber or tank. Furthermore, based on type, the market has been bifurcated into contact and non-contact level transmitters. The contact level transmitter accounted for the larger share in 2018 and is expected to grow at a CAGR of 4.35%

Based on the region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America region held the largest share with 33.8% in the level transmitter market in 2018 and is expected to grow with a CAGR of 4.98% during the forecast period of 2019—2025. The presence of various manufacturers such as Honeywell International Inc., General Electric, Rockwell Automation, and others in the region are providing a variety of level transmitters to the industries based on their end-use applications. Moreover, the early adoption of this technology in the region by the industries is one of the major factors that is driving the level transmitter market. Similarly, the increasing adoption of automation in chemicals, oil & gas, power, and other industry has led towards the reduction of manual work, increased accuracy, and increased reliability over the data which is also driving the growth of the market in the region. However, the Asia-Pacific region is expected to be the fastest-growing region for the level transmitter during the forecast period due to urbanization, rising development, increasing adoption of new technologies in the region.