Radar Level Transmitter Market Growth Analysis, Opportunities and Forecast by 2023
According to the new market research report "Radar Level Transmitter Market by Technology (Contact (Guided Wave Radar), Noncontact (Pulsed & FMCW)), Frequency (C & X, K, and W Band), Application (Liquids, Solids), Industry (Oil & Gas, Chemicals, Food & Beverages), and Region - Global Forecast to 2023", the radar level transmitter market is expected to grow from USD 428.0 million in 2018 to USD 581.2 million by 2023, at a CAGR of 6.3% from 2018 to 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 some of the factors driving the growth of the radar level transmitter market.
Noncontact radar level transmitters is estimated to hold the largest size of the overall radar level transmitter market in 2018
Noncontact radar level transmitters is estimated to hold the largest market size, in terms of value, in 2018. The oil & gas and chemicals industries are highly dependent on proper level control to ensure safety and efficiency. Level measurement instruments required in these industries must operate in explosive/flammable and acidic/basic environments; noncontact radar level transmitters are a suitable option here as they can safely, reliably, and accurately perform under such hazardous conditions. Moreover, the performance of noncontact radar level transmitter is unaffected by contaminants and can produce highly accurate measurements in storage tanks and process vessels. Growing adoption on noncontact transmitters in these industries as an easy-to-use and low-maintenance level measurement solution is expected to drive the demand during forecast period.
Get Free 10% Customization @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=192620054
K band radar level transmitters is estimated to be the largest noncontact radar level transmitter market in 2018
K band radar level transmitters are the most widely used transmitters in process industries. These transmitters operate in the frequency range of ~26 GHz. They have a more focused beam angle and smaller process connection sizes than C and X band radar level transmitters. Such transmitters are ideal for use in tanks and vessels with moderate process conditions and long distance applications with smooth surfaces. K band radar transmitters are mostly used for level measurement of lower dielectric products, and they offer accurate level measurement under conditions of condensation, vapor, dust, foam, etc. However, the performance of such transmitters is affected by heavy vapors (e.g., anhydrous ammonia and vinyl chloride monomer) and dense foam (e.g., latex and molasses).
Liquids, slurries, and interface measurement applications expected to dominate the radar level transmitter market from 2018 to 2023
A majority of radar level transmitters are used for level measurement of liquids, slurries, and interfaces. Since guided wave radar level devices have no moving parts, they require minimum maintenance; these transmitters can measure both level and interface between 2 media. Noncontact radar level transmitter devices require no direct contact with liquid media, owing to which, they are used for measuring a wide variety of hazardous liquids, such as heated heavy asphalt and cryogenic liquefied gases like liquefied natural gas (LNG).
Oil & gas industry to dominate the radar level transmitter market from 2018 to 2023
The oil & gas industry is the key end user in the radar level transmitter market. Radar level transmitters are used for a variety of processes in the oil & gas industry, including level monitoring to check for toxins such as methanol, isopropanol, ethylene glycol monobutyl ether (2-butoxyethanol), ethylene glycol (1,2-ethanediol), hydrotreated light petroleum distillates, and sodium hydroxide (caustic soda). Radar level transmitters provide a high-performance and cost-effective means for continuous level measurement in the oil & gas industry. Other applications of radar level transmitters in the oil & gas industry include monitoring effluent tanks, oil separators, and hydraulic oil tanks.
North America to dominate the radar level transmitter market from 2018 to 2023
North America is expected to dominate the global radar level transmitter market during the forecast period. The US and Canada are the major contributors to the growth of the radar level transmitter market in North America. 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. It is a developed region in terms of manufacturing processes; it has well-established industries such as oil & gas, food & beverages, and chemicals. Moreover, industrial and wastewater treatment contributes to the growth of radar level transmitter market and is one of the major markets in North America.
The radar level transmitter market was dominated by the key players such as Endress+Hauser (Switzerland), Emerson Electric (US), VEGA Grieshaber (Germany), Siemens (Germany), and KROHNE (Germany).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.