“Radar level transmitter market to exhibit significant growth potentials from 2018 to 2023.”
The radar level transmitter market is expected to grow at a CAGR of 6.3% from USD 428.0 million in 2018 to USD 581.2 million in 2023. Benefits of high accuracy, reliability, and stability offered by radar level transmitters; increasing demand for radar level transmitter in the water & wastewater industry; and growing emphasis on optimum utilization and efficiency of assets are the key factors driving the market’s growth. However, fluctuating market trends observed in mature end-use industries are likely to hamper the demand for radar level transmitters.
“Noncontact radar level transmitters to hold the largest market share during the forecast period.”
Noncontact radar level transmitters are likely to exhibit a significant growth during the forecast period. Noncontact radar level transmitters are based on two modulation techniques?frequency modulated carrier wave (FMCW) and pulsed radar. Though both these techniques are effective for level measurement, owing to greater sensitivity and accuracy, FMCW has today become the preferred choice. Noncontact radar transmitters have been widely adopted throughout the process industry as an easy-to-use and low-maintenance level measurement solution. These transmitters do not require physical contact with the measuring element or media. Moreover, noncontact transmitters offer numerous monitoring, control, communications, setup, and diagnostic capabilities.
“The market for solids measurement applications is expected to grow at a higher rate than liquids, slurries, and interfaces applications rate during the forecast period.”
With an increasing adoption in industries such as food & beverages, cement, and metals & mining, the demand for radar level transmitters is likely to grow for solids measurement applications during the forecast period. Radar level transmitters are used for liquid, slurries, solids, and interface measurement. Radar level transmitters are also used for continuous measurement of solids, under hygienic process conditions. Moreover, radar level transmitters deliver optimum performance in dusty and contaminated conditions.
“The market for the water & wastewater industry is expected to grow at the highest CAGR amongst all industries during the forecast period.”
With regulations for water quality becoming more stringent and a rising demand for consistent water quality, the water supply industry is continually challenged to optimize water treatment processes. Radar level transmitters are capable of measuring levels in both clean and harsh environments and are a very cost-effective solution for water projects. During the stages of wastewater treatment, accurate level measurement of wastewater is essential. Wastewater is required to be stored and pumped to higher levels at pump stations. These pump stations use radar level transmitters for monitoring the level of wastewater, which facilitates controlling the pumping operation. At all stages in the wastewater network and treatment process, level monitoring of wastewater using radar level transmitters provides essential control and feedback on the process.
“North America is expected to hold the largest market share during the forecast period.”
North America is expected to hold the largest market share during the forecast period. It is an important market for radar level transmitters. Rapid growth in shale-gas production and innovations in oil & gas extraction processes are the key factors driving the demand for radar level transmitters in North America. Oil & gas, chemical, and pharmaceuticals are the key industries driving the US economy. Oil & gas production has increased with advancements in drilling and hydraulic fracturing, and increasing investments in oil & gas, in turn, are driving the growth of the radar level transmitter market in the US.
The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 = 60%, Tier 2 = 30%, and Tier 3 = 10%
• By Designation: C–Level Executives = 45%, Directors = 30%, and Others = 25%
• By Region: North America = 40%, Europe = 20%, APAC = 35%, and RoW = 5%
Major players involved in the market Endress+Hauser (Switzerland), VEGA Grieshaber (Germany), Emerson Electric (US), Siemens (Germany), and KROHNE Messtechnik (Germany).
Other players in the radar level transmitter market include ABB (Switzerland), Honeywell (US), Yokogawa Electric (Japan), AMETEK (US), Magnetrol International (US), Schneider Electric (France), WIKA Alexander Wiegand Beteiligungs (Germany), B?rkert Fluid Control Systems (Germany), Pepperl+Fuchs (Germany), Automation Product Group (APG) (US), Nivelco Process Control (Hungary), Finetek Group (Taiwan), Matsushima Measure Tech (Japan), Spectris (Omega engineering) (US), and Flowline (US).
The research report on the global radar level transmitter market covers the market based on technology, frequency range, application, industry, and region.
The market based on technology has been segmented into contact (guided wave) and noncontact (pulsed and FMCW). Based on frequency range, the market has been segmented into C and X band, K band, and W band.
The market based on application has been segmented into liquids, slurries, and interfaces and solids applications. Further, based on industry, the market is segmented into oil & gas, chemicals, water & wastewater, food & beverages, pharmaceuticals, power generation, metals & mining, and others, which include cement, pulp & paper, and marine industries.
The report covers 4 major geographic regions?North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
Illustrative segmentations, analyses, and forecasts for the market based on technology, frequency range, application, industry, and region to give an overall view of the radar level transmitter market
Comprehensive coverage of major drivers, restraints, opportunities, and challenges for the market
Detailed competitive landscape, along with key players, in-depth analyses, and revenues of key players