Level Transmitter Market Worth 2.87 Billion USD by 2020
PUNE, India, January 27, 2016 /PRNewswire/ --
According to the new market research report "Level Transmitter Market by Type (Capacitance, Radar, Ultrasonic, Differential Pressure, Magnetostrictive), by Industry (Oil & Gas, Chemical, Food & Beverage, Water & Wastewater, Power, Metal & Mining), and Region - Global Forecast to 2020", published by MarketsandMarkets, the market is estimated to reach USD 2.87 Billion by 2020, at a CAGR of 3.93% between 2015 and 2020.
Browse 95 market data Tables and 57 Figures spread through 155 Pages and in-depth TOC on "Level Transmitter Market".
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Factors which are driving the level transmitter market includes the need for accurate and reliable continuous level measurement, demand for wireless level instrumentation, and need for sophisticated automated processing systems.
Differential pressure level transmitters are expected to lead the level transmitter market
Differential pressure level transmitters are expected to hold the largest market size in the level transmitter market during forecast period. Differential pressure level transmitter offers reliable level measurement, unaffected by many physical characteristics such as conductivity, dielectric coefficient, and viscosity, and has direct contact with the medium. Differential pressure transmitters has captured the vast majority of level industries such as chemical, petrochemical, refining, and electric power generation and still represent the largest worldwide sales volume of process level measurement equipment.
The market for radar level transmitters is expected to grow at the highest CAGR between 2015 and 2020
The market for radar level transmitters is expected to grow at the highest CAGR due to the fact that they work with high-frequency radar pulses which are emitted by an antenna and reflected from the product surface, thus their accuracy is independent of dielectric constant, density, and conductivity. Moreover, radar level transmitters are used in harsh environments where dust, vapor, or foaming surfaces prevent the usage of ultrasonic measurement. Thus, a majority of manufacturers prefer radar level transmitters for level measurement.
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APAC expected to witness a rapid growth during the forecast period
In 2014, the level transmitter market in APAC is expected to grow at the highest CAGR between 2015 and 2020. The growth is attributed to increasing industrialization and urbanization in the APAC region. Furthermore, in APAC, heavy investments are being made in new plant construction in industries such as chemical, petrochemical, and refining where level transmitters are used extensively. Thus, level transmitter market is expected to grow at the highest rate in this region.
The key players in the market are ABB Ltd. (Switzerland), Siemens AG (Germany), Emerson Electric Co. (U.S.), Yokogawa Electric Corp. (Japan), Honeywell International, Inc. (U.S.), Fuji Electric Co., Ltd. (Japan) WIKA Instrument, LP (U.S.), Endress+Hauser Consult AG (Switzerland), VEGA Grieshaber KG (Germany), and General Electric Co. (U.S.).
This research report categorizes the global level transmitter market based on types, industries, and regions. This report describes the drivers, restraints, opportunities, and challenges with respect to the level transmitter market. The Porter's five forces analysis has been included in the report with a description of each of its forces and their respective impact on the level transmitter market.
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