The level gauge global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Level Gauge Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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).
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Scope Of Level Gauge Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
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.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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
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Regional Insights –
North America was the largest region in the level gauge market in 2023. The regions covered in the level gauge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the level gauge market report are ABB Measurement & Analytics, Barksdale Inc., JBJ Techniques Ltd., Jogler LLC, KOBOLD Instruments Inc., KROHNE Messtechnik GmbH, Krueger Sentry Gauge Co., SensorsONE Ltd., Keller America Inc., Yokogawa Electric Corporation, BinMaster Inc, Ayvaz, Honeywell International Inc, FPI Sensors International, Matsushima Measure Tech, Magnetrol International, Omega Engineering Inc., PLT Mag Gage, Zhejiang Jialong Mechanical Equipment Co. Ltd., TC Fluid Control, VEGA Grieshaber KG, FEEJOY Magnetic Level, Dwyer Instruments Inc., ROSEMOUNT, SIEMENS, BÜRKERT, IFM, General Instruments Consortium, Klinger Group, Flowtech Measuring Instruments Private Limited
Table of Contents
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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31. Global Level Gauge Market Competitive Benchmarking
32. Global Level Gauge Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Level Gauge Market
34. Level Gauge Market Future Outlook and Potential Analysis
35. Appendix
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