Axiom Market Research & Consulting™ added a report on global level transmitter market which includes study on technology, type and industry across various countries of key regions across the globe. The global level transmitter market was projected to grow at a CAGR of 2.87% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) by the level transmitter market.
The factors such as increased use of level transmitter in several industrial applications such as oil and gas, water and wastewater, chemical and many others, ongoing development and introduction of wireless level transmitters, rising trend of industrial automation, and increasing technological advancements in the field of level measurement systems are likely to contribute to the healthy growth of the market.
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The report analyses the global level transmitter industry based on technology, type, industry, and geography. Technology segment of the industry are segmented in capacitive, differential pressure/hydrostatic, magnetostrictive, radar, radiometric, ultrasonic and others. Two major types of level transmitters are contact and non-contact. The major end-use industries of level transmitter are chemicals, food & beverages, metals & mining, oil & gas, pharmaceuticals, power, water & wastewater and others. The global level transmitter market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The magnetostrictive technology segment is expected to dominate the level transmitter market during the forecast period
The rapid adoption of the magnetostrictive technology based level transmitters in various industrial, level measurement applications is the key driving factor that is accredited to the growth of the segment. In addition, factors such as rising preference towards adopting magnetostrictive level transmitters owing to its benefits and properties that help even in the harshest environments is boosting the market growth.
In 2020, non-contact type level transmitter accounted for the major market share
The non-contact type segment hold significant share in the level transmitter market owing to widespread application and use across industries. In addition, growing demand for non-contact type level transmitters as it provides benefits such as quick response, long life, high reliability, consistent and excellent performance and many others is expected to expand market growth during the estimated period.
Oil and gas industry dominated the level transmitters market in 2020 and is witnessing the fastest growth.
An increasing adoption of level transmitters in oil and gas industry to measure the pressure or level developed by liquefied petroleum gas (LPG), petrol, crude oil, and various other petroleum by-products is major factor attributed to the growth of the segment.
North America dominated level transmitter market in 2020 and is expected to witness the fastest growth in upcoming years
North America is expected to witness the fastest growth in upcoming years owing to hold significant market share. The US followed by Canada and Mexico is projected to be the fastest growing market owing to presence of well-established end use industries and rising manufacturing output. Additionally, the presence of various leading level transmitter manufacturing companies such as Honeywell. Emerson, Ametek, and many others is further creating more opportunities for the market to growth in NA region.
Key Players:
The key player in global level transmitter market are ABB, Ametek, Dwyer Instruments, Emerson Electric, Endress+Hauser, Honeywell International, Krohne Messtechnik, Magnetrol International, Schneider Electric, Siemens, Sor Inc, Vega Grieshaber, Wika, Yokogawa Electric, Spectris (Omega Engineering), Bürkert, Gf Piping Systems, L&J Technologies, Viatran and Monitor Technologies Llc among others.
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