The global market for Inventory Tank Gauging was valued at US$734.7 Million in 2024 and is projected to reach US$977.6 Million by 2030, growing at a CAGR of 4.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Technological advancements have significantly transformed inventory tank gauging systems, making them more reliable and efficient. The introduction of sophisticated gauge systems for leakage detection is one such development, with these systems capable of eliminating the requirement to empty tanks, resulting in enhanced uptime for operators. The use of automatic tank gauging systems for leakage detection is anticipated to further spur the demand for these systems. Radar-based tank gauging systems are among the most advanced, offering high accuracy and reliability even in harsh environmental conditions. These systems use microwave signals to measure the distance to the liquid surface, providing continuous and precise level measurements. Servo tank gauging systems, on the other hand, use a displacer mechanism to determine liquid levels and are known for their high accuracy and stability. Additionally, modern tank gauging systems are integrated with sophisticated software that enable operators to track inventory levels, detect anomalies, and make informed decisions to optimize storage and distribution processes.
The global inventory tank gauging system market is forecast to exhibit a phenomenal growth due to the lucrative backdrop created by convergence of favorable trends and drivers. The global inventory tank gauging system market is buoyed by strong focus of industries on attaining operational performance and efficiency through accurate measurement of inventory in tanks. The market expansion is favored by increasing uptake of inventory tank gauging systems in diverse domains, from chemical and water & wastewater to food & beverage and oil & gas. Based on its accuracy that holds high significance for process control, custody transfer, tank filling and inventory control, the technology is reporting broader adoption across tank terminals, refineries and various petrochemical applications. Additionally, the expanding chemical and pharmaceutical industries are increasing the demand for reliable tank gauging solutions to manage complex and sensitive liquid inventories. These factors, combined with the continuous innovation and integration of digital technologies, are ensuring robust growth in the inventory tank gauging market, highlighting its critical role in modern inventory management practices.
Global Inventory Tank Gauging Market - Key Trends & Drivers Summarized
Inventory Tank Gauging (ITG) systems are pivotal in managing the storage and handling of liquid products within industries such as oil & gas, chemicals, and others. These systems are designed for precise measurement and monitoring of liquid levels, volume, and temperature in storage tanks, facilitating effective inventory management, custody transfer, and safety compliance. Inventory tank gauging systems play a crucial role in the efficient, safe, and compliant operation of storage facilities in the liquid product industries. While the adoption of such systems comes with its set of challenges, including initial investment and complexity, the operational efficiencies, cost savings, and safety enhancements they bring make them an indispensable asset for modern storage terminal operations.Technological advancements have significantly transformed inventory tank gauging systems, making them more reliable and efficient. The introduction of sophisticated gauge systems for leakage detection is one such development, with these systems capable of eliminating the requirement to empty tanks, resulting in enhanced uptime for operators. The use of automatic tank gauging systems for leakage detection is anticipated to further spur the demand for these systems. Radar-based tank gauging systems are among the most advanced, offering high accuracy and reliability even in harsh environmental conditions. These systems use microwave signals to measure the distance to the liquid surface, providing continuous and precise level measurements. Servo tank gauging systems, on the other hand, use a displacer mechanism to determine liquid levels and are known for their high accuracy and stability. Additionally, modern tank gauging systems are integrated with sophisticated software that enable operators to track inventory levels, detect anomalies, and make informed decisions to optimize storage and distribution processes.
The global inventory tank gauging system market is forecast to exhibit a phenomenal growth due to the lucrative backdrop created by convergence of favorable trends and drivers. The global inventory tank gauging system market is buoyed by strong focus of industries on attaining operational performance and efficiency through accurate measurement of inventory in tanks. The market expansion is favored by increasing uptake of inventory tank gauging systems in diverse domains, from chemical and water & wastewater to food & beverage and oil & gas. Based on its accuracy that holds high significance for process control, custody transfer, tank filling and inventory control, the technology is reporting broader adoption across tank terminals, refineries and various petrochemical applications. Additionally, the expanding chemical and pharmaceutical industries are increasing the demand for reliable tank gauging solutions to manage complex and sensitive liquid inventories. These factors, combined with the continuous innovation and integration of digital technologies, are ensuring robust growth in the inventory tank gauging market, highlighting its critical role in modern inventory management practices.
Scope of the Study
The report analyzes the Inventory Tank Gauging market, presented in terms of market value (US$ Thousand). The analysis covers the key segments and geographic regions outlined below.Segments:
Technology (Electronic, Mechanical); Application (Chemical, Water & Wastewater, Oil & Gas, Other Applications).Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.Key Insights:
- Market Growth: Understand the significant growth trajectory of the Electronic Technology segment, which is expected to reach US$693.6 Million by 2030 with a CAGR of a 5.0%. The Mechanical Technology segment is also set to grow at 4.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $150.9 Million in 2024, and China, forecasted to grow at an impressive 6.5% CAGR to reach $208.9 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Emerson Electric Co., Endress+Hauser Group Services AG, Franklin Fueling Systems, Inc., Honeywell International, Inc., Kongsberg Gruppen ASA and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Inventory Tank Gauging Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Inventory Tank Gauging Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Inventory Tank Gauging Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 28 major companies featured in this Inventory Tank Gauging market report include:
- Emerson Electric Co.
- Endress+Hauser Group Services AG
- Franklin Fueling Systems, Inc.
- Honeywell International, Inc.
- Kongsberg Gruppen ASA
- KROHNE Messtechnik GmbH
- L&J Technologies
- Motherwell Tank Gauging Ltd.
- Musasino Co., Ltd.
- Tokyo Keiso Co., Ltd.
- Varec, Inc. a Leidos Company
Table of Contents
I. METHODOLOGYMII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISAUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Emerson Electric Co.
- Endress+Hauser Group Services AG
- Franklin Fueling Systems, Inc.
- Honeywell International, Inc.
- Kongsberg Gruppen ASA
- KROHNE Messtechnik GmbH
- L&J Technologies
- Motherwell Tank Gauging Ltd.
- Musasino Co., Ltd.
- Tokyo Keiso Co., Ltd.
- Varec, Inc. a Leidos Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 371 |
| Published | March 2025 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 734.7 Million |
| Forecasted Market Value ( USD | $ 977.6 Million |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
