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Global Radar Level Transmitters Market to Grow at $210M during 2019-2023
April 10, 2019 | Business WireEstimated reading time: 2 minutes
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).
Global radar level transmitters market size will grow by $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.
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.
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