Level Gauge Global Market Report 2024

A level gauge is a device designed to indicate the fluid level in various containers, commonly employed in industrial processes to monitor levels in drums, tanks, pressure vessels, and other similar containers.

The main types of level gauges include tank level gauges, fuel level gauges, water level gauges, and mechanical level gauges. Tank level gauges are particularly useful for quickly assessing the amount of water present in a storage tank at any given moment. Different technologies are employed in level gauges, such as magnetic level gauges, reflex level gauges, transparent level gauges, and tabular level gauges. These technologies find applications across various industries, including oil and gas, chemicals, petrochemicals, pharmaceuticals, and others.

The level gauge market research report is one of a series of new reports that provides level gauge market statistics, including level gauge industry global market size, regional shares, competitors with level gauge market share, detailed level gauge market segments, market trends, and opportunities, and any further data you may need to thrive in the level gauge industry. This level gauge market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The level gauge market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%.
The growth observed during the historic period can be attributed to factors such as industrial expansion, increased focus on regulatory compliance, the impact of globalization, and growth in the energy sector.

The level gauge market size is expected to see strong growth in the next few years. It will grow to $2.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
The anticipated growth in the forecast period can be attributed to ongoing trends in automation, heightened environmental concerns, adherence to safety standards, and the broader trend of digitalization. Major trends expected in the forecast period include the integration of smart sensors, the adoption of wireless solutions, the implementation of remote monitoring capabilities, the emphasis on predictive maintenance practices, customization of level gauge systems, and the incorporation of augmented reality (AR) technologies.

The expansion of the oil and gas industries is poised to drive the growth of the level gauge market in the foreseeable future. Within the energy sector, oil and natural gas play pivotal roles, involving drilling, storage, and transportation systems. Effective separation, storage, and processing of oil, natural gas, and related substances necessitate precise measurement and control of the liquid levels to ensure operational safety and normal production. Measuring oil levels is crucial for accurate inventory calculation, storage determination, and transportation logistics, contributing to the growth of the oil and gas sector. For example, British Petroleum reported a global oil production increase of 1.4 million b/d in 2021, with OPEC+ accounting for over three-quarters of this increase. Additionally, global natural gas demand saw a growth of 5.3% in 2021. Consequently, the burgeoning oil and gas industries are fueling the demand for level gauges.

The swift industrialization of the chemical industry is anticipated to drive the growth of the level gauge market. The chemical industry, encompassing the production, manufacturing, and distribution of various chemicals and chemical products, is experiencing rapid growth. Level gauges in the chemical industry serve critical functions in gauging liquid levels in tanks and vessels, preventing safety hazards and operational inefficiencies associated with overfilling or underfilling. This technology enhances process control, reduces energy costs, and minimizes waste. According to the American Chemical Society, the chemical industry is projected to grow by 4.1% in 2022, with a 4.3% growth expected in the Basic chemicals market. Therefore, the ongoing industrialization of the chemical sector is set to propel the growth of the level gauge market.

Leading companies in the level gauge market are introducing innovative products, including liquid level sensors, to gain a competitive advantage. Liquid level sensors, designed to measure the level of liquids in containers or tanks, offer advanced features. For instance, in September 2023, Rochester Sensors, a US-based company specializing in level measurement solutions, launched TLL155/TLL156/TLL157 liquid level sensors with variable resistive, voltage, or current outputs. These sensors feature a 316 stainless steel probe in standard lengths of 500mm or 1000mm, allowing custom length cutting and magnetic calibration for specific levels. They operate in a wide temperature range (-40°C to +85°C), withstand up to 1 BAR pressure, survive a 1-meter drop onto concrete, and operate on 9-36 VDC power with 80 VDC overvoltage protection.

In April 2022, Dwyer Instruments, a US-based instrument manufacturing firm, acquired Omega Engineering in an undisclosed deal. The combined business of both companies broadens the portfolio of configurable temperature, pressure, flow, and level measurement solutions for critical environments and automation applications. Omega Engineering, a US-based instrumentation company, specializes in manufacturing measuring instrumentation solutions, including level indicators.

In May 2023, Rochester Sensors LLC, a US-based manufacturer of gauges and sensors, acquired Tekelek Europe Limited for an undisclosed amount. This strategic acquisition aligns with Rochester's commitment to investing in research and development, allowing the company to introduce new and improved products to meet evolving customer needs. Tekelek Europe Limited, based in Ireland, designs and sells liquid-level sensors and other electronic components, primarily utilizing ultrasound and hall effect sensor technologies.

Major companies operating in the in the level gauge market report are ABB Measurement & Analytics, Barksdale Inc., JBJ Techniques Ltd., Jogler LLC, KOBOLD Instruments Inc., KROHNE Messtechnik GmbH, Krueger Sentry Gauge Co., SensorsONE Ltd., Keller America Inc., Yokogawa Electric Corporation, BinMaster Inc, Ayvaz, Honeywell International Inc, FPI Sensors International, Matsushima Measure Tech, Magnetrol International, Omega Engineering Inc., PLT Mag Gage, Zhejiang Jialong Mechanical Equipment Co. Ltd., TC Fluid Control, VEGA Grieshaber KG, FEEJOY Magnetic Level, Dwyer Instruments Inc., ROSEMOUNT, SIEMENS, BÜRKERT, IFM, General Instruments Consortium, Klinger Group, Flowtech Measuring Instruments Private Limited

North America was the largest region in the level gauge market in 2023. The regions covered in the level gauge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the level gauge market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The level gauge market consists of sales of differential pressure transmitters, float and displacer level instruments, guided wave radar (GWR), capacitance transmitters, hybrid capacitance, nucleonic level transmitters. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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