The Level Gauge by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Level Gauge , The level gauge market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to industrial expansion, regulatory compliance, globalization, energy sector growth.
The level gauge market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to automation trends, environmental concerns, safety standards, digitalization. Major trends in the forecast period include smart sensors, wireless solutions, remote monitoring, predictive maintenance, customization, augmented reality (ar).
The growth of the oil and gas industries is expected to propel the growth of this level gauge market going forward. Oil and natural gas are major industries in the energy market, in oil and gas production drilling, storage, and transportation systems of oil, natural gas, and associated slurry are separated, stored, and processed in various production equipment and tanks. The measurement and control of the level are essential to ensure normal production and equipment safety. Oil level is an important measure to correctly calculate oil storage, determine inventory, and calculate transportation, due to these benefits there was a growth in the oil and gas sector. For instance, according to British Petroleum, a UK-based oil and gas company, the global oil production increased by 1.4 million b/d in 2021, with OPEC+ accounting for more than three-quarters of the increase and global natural gas demand grew 5.3% in 2021. Therefore, the growth of the oil and gas industries is driving the demand for the level gauge market.
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The level gauge market covered in this report is segmented –
1) By Type: Tank Level, Fuel Level, Water Level, Mechanical Level
2) By Technology: Magnetic Level Gauge, Reflex Level Gauge, Tarnsparent Level Gauge, Tabular Level Gauge
3) By Industry: Oil and Gas, Chemicals, Petro-Chemicals, Pharmaceutical, Other Industries
Major companies operating in the level gauge market are introducing innovative products, such as the liquid level sensors, to gain a competitive edge in the market. A liquid level sensor is a device that is used to measure the level of a liquid in a container or tank. For instance, in September 2023, Rochester Sensors, a US-based company that specializes in level measurement solutions, launched TLL155/TLL156/TLL157 liquid level sensors in variable resistive (TLL155 in ohms), voltage (TLL156 in volts), or current (TLL157 in milliamperes) outputs for use with fuel gauges or PLCs, features a 316 stainless steel probe in 500mm or 1000mm standard lengths, and allows custom length cutting and magnetic calibration for specific levels; it functions in a wide temperature range (-40°C to +85°C), withstands up to 1 BAR pressure, survives a 1-meter drop onto concrete, and operates on 9-36 VDC power with 80 VDC overvoltage protection.
The level gauge market report table of contents includes:1. Executive Summary
2. Level Gauge Market Characteristics
3. Level Gauge Market Trends And Strategies
4. Level Gauge Market – Macro Economic Scenario
5. Global Level Gauge Market Size and Growth
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26. South America Level Gauge Market
27. Brazil Level Gauge Market
28. Middle East Level Gauge Market
29. Africa Level Gauge Market
30. Level Gauge Market Competitive Landscape And Company Profiles
Top Major Players:
- ABB Measurement & Analytics
- Barksdale Inc
- JBJ Techniques Ltd
- Jogler LLC
- KOBOLD Instruments Inc
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