Level Transmitter Market - Forecasts from 2022 to 2027

The level transmitter market is expected to grow at a CAGR of 5.14% over the forecast period to grow from US$2,640.600 million in 2020 to US$3,749.556 million in 2027.

A level transmitter is an instrument that provides continuous level measurement and is used to determine the level of a given liquid or bulk solid at any given time.

Factors such as increasing demand for wireless connectivity in level instrumentation and stringent regulations regarding water and wastewater treatment processes are driving the global level transmitter market's growth. Moreover, manufacturing plants are increasingly focusing on utilizing instruments that enable them to reduce power consumption and improve operational efficiency. The ability of level transmitters to provide continuous monitoring of liquids and slurries in storage and process vessels has been instrumental in their growth over the years.

The ability to provide continuous monitoring of fluids is driving the demand for level transmitters.

Level transmitters are widely used in businesses that require continuous monitoring to ensure effective performance and control over operations. For instance, the photovoltaic industry requires continuous monitoring of fluids used in the manufacture of photovoltaics, and ultrasonic sensors are considered ideal for monitoring such applications. In fact, the production volume of photovoltaics has increased at a CAGR of 40% over the last 15 years (source: JRC Science for Policy Report, European Commission) and is further expected to increase during the course of the forecast period with a gradual shift towards renewable energy resources by the global economy. Moreover, the production of electronics is also increasing globally, which is further supplementing the growth of the market as these transmitters are suitable for level sensing of the fluids required in the production of different electronic equipment and devices. Thus, the continuous increase in the electronic, photovoltaic, and other industries using corrosive fluids that require continuous monitoring is projected to drive the level transmitter market during the forecast period. Furthermore, the level transmitter is also used for measuring the level of the boiler water tank and highly corrosive liquid. It is basically used for ensuring that the correct amount of water is added to the boiler to ensure the safety of the operation. The boiler is considered important equipment in the food industry, textile industry, energy and power industry, and chemical industry among others.

The level transmitters are widely utilized by cement manufacturers, with Siemen's SITRANS LR400 level transmitters being one of the most popular products among them. In fact, cement production at the global level improved slightly from 4,200,000 thousand metric tons in 2020 to 4,400,000 thousand metric tons in 2022 (Source: U.S. Geological Survey), thus, indicating, a growing market for level transmitter manufacturers.

North America is anticipated to grow at a stable rate during the forecast period.

The North American region accounted for a significant share of the global level transmitter market in 2019, where the U.S. dominated the market on account of the presence of key market players such as Honeywell International, and General Electric Co., among others. The market in this region will witness significant growth during the forecast period owing to advancements in level sensing technology, coupled with mushrooming demand from end-use industry verticals such as petrochemicals, oil & gas, and wastewater treatment, among others. The government of the United States is significantly boosting investment in order to improve its status as an oil exporter at the global level. Specifically, the government is investing in improving the infrastructure that will allow the transportation of oil to the global market.

The Asia-Pacific region is projected to experience the highest growth rate due to rapid urbanization and industrialization in the developing economies of China and India. Reductions in field engineering and construction costs incurred, along with rising demand for level sensing in industrial manufacturing, will boost the demand for level transmitters. Significant investments in new chemical, petrochemical, and refining industries in the Asia Pacific will further boost the demand for level transmitters, thereby impacting the overall level transmitter market.

Key Developments

• In October 2020, WIKA Instruments India Pvt. Ltd. expanded its product portfolio by introducing the Reed Level transmitter model FLR-F for food application. The level transmitter introduced by WIKA has an electropolished surface. The level transmitter is also available in a head-mounted version for different output signals.
• Dwyer Instruments acquired Universal Flow Monitors, Inc, a leader in the design, development, and manufacturing of flow meters and controls for fluids and gases in December 2021. The UFM's broad product portfolio contains ruggedized products that customers heavily rely on for critical industrial applications. Hence, this acquisition adds a greater value to Dwyer's product portfolio in the niche industrial markets.
• Hawk Measurement Systems launched the Guided Wave Radar (GWR) level transmitter in July 2022. The company claims that this new level transmitter is the industry's first GWR level transmitter that features Power over Ethernet communication. Further, the company claims that this new product can change the way companies measure, monitor, and track their assets.

COVID-19 Impact on Level Transmitter Market

The pandemic has had a significant impact on the level transmitter market globally owing to the falling demand in the end-user industries such as oil and gas, chemicals, energy, and power industries. During the pandemic, the temporary halt in businesses, manufacturing units, and many other parts of businesses impacted the overall level of transmitter market supply. Although, the gradual reopening of industries due to ease in the restriction furthered the development of the level transmitter market globally. For example, the IEA reported in January 2021 that the relaxation in lockdown restrictions and a stronger economic environment elevated the electricity demand by more than 10% above October 2019 levels. Similarly, the rising oil and gas industry also propelled the level transmission market.

Segmentation:

• By Technology

Ultrasonic

Radar

Capacitive

Differential Pressure

Others

• By Type

Contact

Non-Contact

• By Industry Vertical

Oil & Gas

Chemical

Food & Beverage

Energy & power

Others

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• UK
• Germany
• France
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

Asia Pacific

• Japan
• China
• India
• South Korea
• Taiwan
• Others