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Global Radar Level Transmitters Market Will Grow at USD 210 Million During 2019-2023 | Technavio

April 10, 2019
The global radar level transmitters market will grow at a CAGR of nearly 5% during the period 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--Apr 10, 2019--Technavio has announced the release of their research report on the global radar level transmitters marker for the forecast period 2019-2023. This global radar level transmitters market analysis report segments the market by end-user (oil and gas, chemical and petrochemicals, water and wastewater treatment, food and beverages, power, and other end-users) and by geography (APAC, Europe, MEA, North America, and South America).

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The global radar level transmitters market will grow at a CAGR of nearly 5% during the period 2019-2023. (Graphic: Business Wire)

Global radar level transmitters market size will grow by USD 210.51 million during 2019-2023, at a CAGR of nearly 5%. The growing need for an uninterrupted flow of information even in remote places is driving the demand for wireless radar level transmitters. These transmitters come equipped with Bluetooth connectivity and improved battery life. Many vendors are providing such wireless radar level transmitters to power the industries. For example, Emerson Electric recently launched Rosemount 3308 GWR Wireless Level Transmitter. The transmitter can transmit readings and set parameters such as the data update rate and other functions remotely. Such emerging trends among vendors are expected to increase the demand for the wireless radar level transmitters during the forecast period.

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Increased focus toward accuracy and reliability in level measurement process

Accuracy and reliability of measurement are the significant challenges faced by both mechanical and electrical measurement devices. Most of these devices are insensible to change in dielectric constant and require frequent calibration. The NC radar and GWR level transmitters are immune to dust, vapor, and overcome the challenges faced by other electric measurement devices. They require low calibration and have high accuracy that make them suitable for level measurement in end-user industries. The increasing focus toward accuracy and reliability in level measurement processes will drive the growth of the global radar level transmitters market.

“The radar level transmitters market will witness a massive growth in the APAC region. Increased expansion of food and beverage companies in the region has increased the use of automated level gauging solutions. In Europe, the increasing cross-border pipeline projects to supply oil and natural gas has led to a rise in the demand for radar level transmitters. Furthermore, there are plans to expand the pipeline network in Europe to supply natural gas. Many such advancements across geographies will fuel the growth of global radar level transmitters market over the forecast period,” says an analyst at Technavio.

Many chemical and petrochemical companies are investing heavily to expand their business. For instance, Mitsubishi Gas Chemical recently announced its plan to build two hydrogen peroxide plants in Oregon and Texas. The plant will have an annual capacity of 70,000 tons. Cargill, a leading F&B company, has announced its plan to build a new HM pectin production in Brazil. These factors are expected to increase the demand for radar level transmitters.

View snapshot of the report for a more detailed overview of the market and the segmentation covered in this report

This global radar level transmitters market industry research report provides an in-depth analysis of the primary drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several radar level transmitter manufacturers including -

  • ABB
  • Emerson Electric Co.
  • Endress+Hauser Management AG
  • Siemens
  • VEGA Grieshaber KG

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.

Please contact our media team at media@technavio.com for more information.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190410005520/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE OTHER TECHNOLOGY SEMICONDUCTOR MOBILE/WIRELESS

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 04/10/2019 10:04 AM/DISC: 04/10/2019 10:04 AM

http://www.businesswire.com/news/home/20190410005520/en