According to a market report by Lucintel, the future of the level gauge market looks promising with opportunities in the oil and gas, chemical, water treatment, and marine markets. The global level gauge market is expected to reach an estimated $2.1 billion by 2028 with a CAGR of 6% from 2023 to 2028. The major drivers for this market are rapid industrialization, significantly growing oil & gas and energy power sectors, and increasing acceptance of automatic tank gauge systems.
In this market, tank level gauges, fuel level gauges, water level gauges, and mechanical level gauges are the major segments of level gauge market by product type. Lucintel forecasts that tank level gauges will remain the largest segment over the forecast period due to its increasing application to measure the fluid levels in drums, tanks, pressure vessels, and other applications.
Within this market, chemical is expected to remain the largest segment because it helps in monitoring the level in chemical storage application.
Europe will remain the largest region due to increasing investment in the chemical, water treatment, marine and foods & beverages industries in countries like Germany, Spain, and the UK.
ABB, OMEGA Engineering, Honeywell International Inc., Yokogawa, Barksdale Control Products, Jbj Techniques, JOGLER, BinMaster, Keller America, KOBOLD Instrument, Krohne, and SensorsONE are the major suppliers in the global level gauge market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global level gauge market by product type, technology, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Level Gauge Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global level gauge market by product type, technology, end use industry, and region, as follows:
Level Gauge Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Tank Level Gauges
Fuel Level Gauges
Water Level Gauges
Mechanical Level Gauges
Level Gauge Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:
Magnetic
Reflexive
Transparent
Others
Level Gauge Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Oil and Gas
Chemical
Water Treatment
Marine
Others
Level Gauge Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global
Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis,
Growth Consulting, M&A, and
Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit
www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the level gauge market by product type (tank level gauges, fuel level gauges, water level gauges, and mechanical level gauges), technology (magnetic, reflexive, transparent, and others), end use industry (oil and gas, chemical, water treatment, marine, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?