Float Level Transmitter Market - Forecasts from 2023 to 2028

The global float level transmitter market is estimated to grow at a CAGR of 5.76% during the forecast period.

A float level transmitter is a level measurement device used to measure the liquid level in a tank or vessel. It consists of a float that moves up and down with the level of the liquid and is connected to a sensor that converts the float's position into an electrical signal. The float level transmitter comes in magnetostrictive and reed chain type and is used in utilities, food & beverage, pharmaceuticals, and chemical industry as they provide accurate and reliable level measurement for process control and safety, ensuring the efficient and safe operation of the manufacturing process. The need for accurate and reliable level measurement, stringent safety regulations, and technological advancements in level measurement technology are driving the demand for float-level transmitters, thereby boosting the overall market growth. An increase in chemical production coupled with the growing R&D expenditure and developments in the pharmaceuticals sector is also paving the way for future market growth.

The surge in chemical production is boosting the float-level transmitter market growth.

The chemical industry requires accurate and reliable level measurement devices to monitor the liquid level in storage tanks, pipelines, and reactors. The level of liquids such as acids, alkalis, and solvents must be precisely monitored to ensure safety and prevent accidents. Float-level transmitters are ideal for these applications due to their high accuracy, reliability, and durability. The chemical industry is constantly evolving and seeking new technologies to improve its processes, and float-level transmitters are a cost-effective solution to ensure the safe and efficient operation of chemical processes. The increased chemical production will boost the demand for float-level transmitters, stimulating market growth. According to the American Chemical Society (ACS), in 2022, the production of specialty chemicals increased by 6.2% due to strong demand and restocking. According to India Brand Equity Foundation (IBEF), in 2021, the demand for chemicals is expected to expand by 9% per annum by 2025, and the chemical industry is expected to contribute US$ 383 billion to India's GDP by 2030.

Bolstering growth in pharmaceuticals will accelerate the float-level transmitter demand during the projected period.

Accurate and reliable level measurement is critical in the pharmaceutical industry to ensure the quality and safety of products. Float-level transmitters are ideal for these applications due to their high accuracy and ability to operate in harsh environments. Pharmaceutical manufacturers use float-level transmitters to measure the liquid level in storage tanks, reaction vessels, and other process equipment. The level of liquids, such as solvents, acids, and bases, must be precisely monitored to ensure product quality and prevent contamination. Float level transmitters provide real-time liquid level monitoring, which is essential for efficient process control and quality assurance. The increase in the use of pharmaceutical products will boost the demand for float-level transmitters. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA) report in 2020, pharmaceutical expenditure on R&D in Europe increased from 37,880 million euros in 2019 to 39,656 million euros in 2020. According to the Department of Pharmaceuticals of the Government of India in 2020, the Indian pharmaceutical industry is the world's 3rd largest by volume and 14th largest in value. The total Annual Turnover of Pharmaceuticals was Rs. 2,89,998 crores for 2019-2020.

The Asia Pacific is expected to hold a significant market share throughout the forecast period.

The Asia Pacific region will account for a major market share due to rapid industrialization, increased chemical production, and a rise in the usage of pharmaceutical products. In 2023, the Department of Chemicals and Petrochemicals of India received funding from the Indian government of Rs. 173.45 crores ($20.93 million) during the Union Budget 2023-24, and to increase domestic manufacturing and exports, the Indian government is thinking of implementing a production linked incentive (PLI) scheme in the chemical industry. In 2021, the Chinese government launched the "14th Five-Year Plan" to increase cooperation with overseas research institutions and drug companies to set up innovative pharmaceutical production sites in China. Such growing developments will boost the demand for float-level transmitters as they have high applicability in chemical and pharmaceutical production, thereby boosting regional market growth.

Products:

• Atex: Such float-level transmitters by Filpro are factory calibrated, ready to use, and are not affected by liquid type, temperature, pressure, and other physical parameters. These can be used in pharmaceuticals, refineries, chemicals, and oil & gas industry.
• LVR500 Series: This float-level transmitter provided by Omega Engineering provides continuous level measurement up to 2 m (6.5') with a 4 to 20 mA signal output and is well suited for high temperature or pressure tank level applications with relatively clean liquids such as water, diluted chemicals, and lightweight oils.
• Float Operated Level Transmitters: The product by PCI Instruments provides continuous level indication and control of any liquid unaffected by electrical conductivity, temperature, pressure, or viscosity. This is designed for various liquids, and its unique self-cleaning construction is well suited for even sticky or dirty environments with no float hang-ups.

Market Segmentation:

By Type

• Magnetostrictive
• Reed Chain

By Application

• Water
• Chemical
• Oil

By End-Users

• Utilities
• Food & Beverage
• Pharmaceuticals
• Chemicals
• 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
• China
• Japan
• India
• South Korea
• Others