PUBLISHER: Allied Market Research | PRODUCT CODE: 1179520
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179520
The global level gauge market size was valued at $1,458.4 million in 2021, and is projected to reach $2,503.0 million by 2031, registering a CAGR of 5.5% from 2022 to 2031.
Level gauges are sensing and measuring instruments that are used to detect the level of a fluid or gas in a tank or similar storage container. These devices are widely used in industrial process applications and are employed to measure the fluid levels in drums, tanks, pressure vessels, or other similar applications. Level gauges are mostly used in chemical, foods & beverages, oil & gas, pharmaceuticals, energy & power, and other industries.
Factors such as increase in adoption of programmable level gauges and automated alarm systems drive the growth of this market. However, sanitary ratings of gauges in beverage & pharmaceutical continue to restrain the growth of this market. Opportunities such integration of sensors and Internet of Things (IoT) can increase the scope of level gauges in industrial application.
The demand for level gauges in the pharmaceutical sector has grown as a result of the requirement to get government approval, adhere to standards established by several health-related organizations, and maintain flawless operations. The rise of automated processes in the pharmaceutical sector is also anticipated to increase the need for level gauges during the forecast period. Moreover, expansion of foods & beverages industries around the world are increasing the demand for level gauge. For instance, in March 2022, Nestle invested $675 million to build new a food and beverage manufacturing factory in Arizona. Hence, such factors are expected to drive the level gauge market.
On the basis of end user industry, chemical segment has registered the highest-level gauge market share in terms of revenue in 2021. It allows to monitor the level in chemical storage application. Moreover, it is designed for chemical & process tanks and recommended for virtually any fluid including viscous, aggressive, and waste liquids. In addition, expansion of chemical industries around the world provide lucrative growth opportunities for the level gauge market.
Key companies profiled in the level gauge market report include ABB Ltd., Barksdale Control Products, BinMaster, Emerson Electric Co., FPI Sensors International, Honeywell International Inc., JBJ Techniques Limited, Jogler LLC., Keller America, Inc., KOBOLD Instruments Inc., KROHNE Messtechnik GmbH, Krueger Sentry Gauge, Omega Engineering, Inc., PLT Mag Gage, SensorsONE Ltd., TC Fluid Control, and Yokogawa Electric Corporation.
Key Benefits For Stakeholders
By Type
By Technology
By End-user Industry
By Region