The factors such as increasing development and production of wireless level transmitters, a surge in the demand for level transmitters in food & beverages and pharmaceuticals industries, increased focus on industrial automation and optimum utilization of resources and rising regulatory emphasis on industrial safety are likely to contribute to the healthy growth of the market.
New York, April, 2021: 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) generated by the level transmitter market.
The report analyses the global level transmitter industry based on grade, application, and geography. The technology segment of the industry is segmented into capacitive, differential pressure/hydrostatic, magnetostrictive, radar, radiometric, ultrasonic and others. The major types of level transmitters are contact and non-contact. The major end use industries of this market 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 key competitors of this market include 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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Level Transmitter Market Regional Trends
North America is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The growing demand for level transmitter in the region is attributed by various industries like oil and gas, chemical, food and beverage, pharmaceutical and many others. The economies such as the United States, Canada and Mexico are projected to witness fast growth during forecast period due to ongoing technological advancements and growing research and developments in the field of level measurement technology to use in various industries.
Level Transmitter Market Segmental Highlights
- The magnetostrictive segment is expected to dominate the level transmitter market during the forecast period 2021 to 2027. The growth of this segment is rapidly improving owing to its increasing demand for in a variety of industrial applications as it offers benefits such as safety, accuracy, and reliability.
- In 2020, non-contact type accounted for the major market share. The non-contact type level transmitters hold significant share in the level transmitter market as it is rapidly emerging type level measurement devices and technology.
- Oil and gas industry is dominated the market in 2020 and is likely to maintain its dominance during the projection period. Growing demand for accurate level measurement and a surge in the demand to prevent overflow and oil in the tank or containers are accredited to the segment growth.
- North America dominated level transmitter market in 2020 and is expected to witness the fastest growth in upcoming years.
Research Objectives of Level Transmitter Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis.
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the Level Transmitter Market.
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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