Level Gauge Market Size, Share & Industry Growth by 2028

Level Gauge Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Gauge Type (Tank Level, Fuel Level, Water Level, and Mechanical Level), Technology (Magnetic Level Gauge, Reflex Level Gauge, Transparent Level Gauge, Tabular Level Gauge, and Others), and End-User (Oil & Gas, Food & Beverage, Chemical & Petrochemical, Marine, Energy & Power, and Others)

Publication Month : May 2022

  • Report Code : TIPRE00007888
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 162
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The level gauge market is projected to reach US$ 2,013.69 million by 2028 from US$ 1,391.31 million in 2021; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.

Level gauges are instruments for sensing and measuring fluid or gas levels in tanks or other storage containers. These devices are commonly used to detect fluid levels in drums, tanks, pressure vessels, and other similar uses in industrial process applications. When a direct physical measurement of the liquid level is not possible or practical, such as when the fluid being measured is toxic or when the tank or vessel housing the fluid is sealed and under pressure, level gauges are commonly used.

Fluid interface measurements are in high demand in manufacturing equipment such as frying drums, dehydrators, regenerators, settling tanks, and clarifiers. When two immiscible liquids are present in the same vessel, interface measurement is required. Liquid-solid interfaces, liquid-liquid interfaces, vapor-liquid interfaces, and foam-liquid interfaces are all examples of interfaces. Magnetic level gauges are used to determine the exact level of the upper liquid, the bottom liquid, and the level where the two liquids meet.

One of the important factors driving the growth of the level gauge market is the growth of oil & gas businesses and strong industrial activity worldwide. Additionally, increased deployment of automatic tank gauge systems is boosting the adoption of level gauge systems in various industries, likely to fuel the level gauge market expansion over the forecast period. Due to high accuracy levels in measuring components in pharmaceutical manufacturing, the pharmaceutical industry is likely to see increased demand. Initially, pharmaceutical manufacturers had numerous measuring issues, resulting in a requirement for level sensing gauges. The necessity to get government certification, conform to criteria set by numerous health-related organizations, and maintain perfect operations has increased the demand for level gauges in the pharmaceutical industry. Furthermore, throughout the forecast period, the expansion of automated processes in the pharmaceutical industry is likely to drive the need for level gauges.

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Level Gauge Market: Strategic Insights

level-gauge-market
Market Size Value inUS$ 1,391.31 Million in 2021
Market Size Value byUS$ 2,013.69 Million by 2028
Growth rateCAGR of 5.6% from 2022 to 2028
Forecast Period2022-2028
Base Year2021
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Impact of COVID-19 Pandemic on Level Gauge Market

 

Various economies in Asia Pacific witnessed a sharp decline in their gross domestic product (GDP) in 2020 due to the sudden closedown of most economic activities across the country. The region consists of prominent oil and gas producing countries. According to the Organization for Economic Co-operation and Development (OECD), the pandemic severely affected several countries, such as India, Australia, China, and Japan. India is the worst-hit country by the pandemic in this region. Limitations imposed by governments to control the spread of COVID-19 during the initial time frame of the outbreak in these countries have affected the production process due to the limited workforce. China, Australia, Iran, Indonesia, and Malaysia are a few of the major natural gas-producing countries in the region. APAC's main natural gas-consuming countries are China, Japan, South Korea, and India.

Lucrative Regions for Level Gauge Market

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Market Insights – Level Gauge Market

North America is the most technologically advanced region, with several key economies, including the US, Canada, and Mexico. Developed countries in the region are known for adopting advanced technologies, high living standards, and developed infrastructure. Several industries, such as oil & gas and food & beverages in the region, are expanding their production scale due to rising consumer demand, leading to the level gauge market growth.

Level gauge manufacturers in Europe are also contributing significantly to market growth. Some of the prominent market players in Europe are PI Control Europe, P&ID b.v., Wema UK, ABB, Bliss Anand Europe, Hadro Techniek B.V., General Instruments Europe, Fival Srl, and Klinger Europe. These manufacturers offer more than one type of level gauge.

The APAC Level Gauge market is segmented into Australia, India, China, Japan, and South Korea. The growth in the manufacturing industry in Asian countries, such as China, India, Japan, South Korea, and Taiwan, would further positively impact the uptake of level gauge. Government initiatives, such as Make in India and Make in China, are transforming the manufacturing industry of India and China, respectively. This is augmenting the growth of the level gauge market in the region.

Technology-Based Insights

Based on technology, the level gauge market is segmented into magnetic level gauge, reflex level gauge, transparent level gauge, tabular level gauge, and others. The magnetic level gauge segment is expected to register the highest CAGR during the forecast period due to its usage in various end-users. A magnetic level indicator is frequently employed in situations when a sight glass (or glass sight gauge) is unsuitable for the job or underperforming due to plant requirements.

The level gauge market is segmented on the basis of gauge type, technology, end-user, and geography. Based on gauge type, the level gauge market is segmented into tank level, fuel level, water level, and mechanical level. Based on technology, the level gauge market is segmented into magnetic level gauge, reflex level gauge, transparent level gauge, tabular level gauge, and others. By end-user, the level gauge market is segmented into oil & gas, food & beverages, chemical & petrochemical, marine, energy & power, and others. Based on geography, the level gauge market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.

ABB Ltd.; Barksdale Inc.; Ayvaz; BinMaster; jbj Techniques Ltd.; Jogler, LLC; KOBOLD Messring GmbH; KROHNE Messtechnik GmbH; Krueger Sentry Gauge Co.; and SensorsOne Ltd. are among the key level gauge market players.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Gauge Type, Technology, and End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


Who is the major end user for level gauge?

Chemical and petrochemical segment led the market in 2021. In industrial chemical end-users, level measurement instruments are exposed to aggressive, adhesive, abrasive, and corrosive environments. The requirements may also require that very light bulk goods be detected and measured precisely. Effective level measurement in the chemical process industries (CPI) reduces material inventories, improves product quality, and increases plant output by preventing spills and process disruptions. Level-measurement equipment can reduce quality and process consistency when not well-matched to their end-user.

Which are the major companies in the level gauge market?

ABB Ltd., Barksdale Inc., Ayvaz, BinMaster, jbj Techniques Ltd., Jogler, LLC; KOBOLD Messring GmbH, KROHNE Messtechnik GmbH, Krueger Sentry Gauge Co., and SensorsOne Ltd. are well-established market players with diverse business offerings operating in the level gauge market.

Which region dominated the level gauge market in 2021?

APAC region led the market in 2021. The APAC Level Gauge market is segmented into Australia, India, China, Japan, and South Korea. The growth in the manufacturing industry in Asian countries, such as China, India, Japan, South Korea, and Taiwan, would further positively impact the uptake of level gauge. Government initiatives, such as Make in India and Make in China, are transforming the manufacturing industry of India and China, respectively. This is augmenting the growth of the level gauge market in the region.

Which gauge type dominated the level gauge market in 2021?

Tank type segment led the market in 2021. Tank gauging measures liquids in big storage tanks to determine the volume and mass of the product inside. In the oil and gas business, static volumetric assessments of tank content are commonly used, which include measures of level, temperature, and pressure. There are several methods for determining the liquid level and other parameters. Large volumes of liquid goods with a high value can be stored in storage tanks. When determining the tank content at any given time, the precision performance of a tank gauging technology is critical. Tank gauging is used on huge storage tanks in refineries, petroleum depots, pipelines, airports, and storage terminals. Cylindrical fixed roof tanks, cylindrical floating roof tanks, and pressurized tanks with either a spherical or horizontal cylinder design are the most common storage tanks. Tank gauges are available for each of these tank types.

What are market opportunities for level gauge market?

The water level gauge in a boiler shows the water level in the boiler when it is near the correct working level. Water might leak out of the boiler and cause significant damage to any equipment built to accept steam if the water level is too high. Heat transfer surfaces may be exposed to extreme temperatures and fail if the water level is too low. Thus, constant monitoring of the boiler's water level is required. Due to the ship's motion, a water level gauge at each end of the boiler is needed to monitor the level accurately.

What are reasons behind level gauge market growth?

One of the major factors driving the market growth is automatic tank gauge systems, often known as ATGs. An ATG is an electronic gauge type installed within an above- or below-ground tank. It monitors the fuel volume or lubricant over time to determine if the tank is leaking liquids. Automatic tank monitoring systems are useful for assessing fluid levels, utilization based on volume, and tank temperature and can alert operators when tank contents are too high or have hit a critical low and monitor for leaks. Other features of an automatic tank gauge technology include measuring any gaps in the connections between tanks, pipes, and hose lines and monitoring technology pressurization. Modern ATGs are sophisticated monitoring systems that can be either wired or remotely accessed via a wireless modem.

The List of Companies - Level Gauge Market

  1. ABB Ltd.
  2. Barksdale Inc.
  3. Ayvaz
  4. BinMaster
  5. jbj Techniques Ltd.
  6. Jogler, LLC
  7. KOBOLD Messring GmbH
  8. KROHNE Messtechnik GmbH
  9. Krueger Sentry Gauge Co.
  10. SensorsOne Ltd.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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