Level Measuring Instrument Market: Introduction
Level measuring instruments are used for the accurate continuous measurement of the volume of fluid or gas in a container in several end use industries, such as automotive and oil and gas, to a name of few. These instruments are also used in the construction industry during the construction of walls and floors for the accurate measurement of slope, constant height of wall throughout its length and numerous other tasks. Level measuring instruments are of two types, namely analog and digital. In the current scenario, digital level measuring instruments are in trend because these are easily readable and provide more accurate results than analog instruments. Level measuring instruments can be used in many applications, such as to monitor the level of fluid, to measure the pressure level and to measure the electromechanical level, to a name of few.
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Level Measuring Instrument Market: Dynamics
Level measuring instruments are utilized to monitor the fluid level in various operations, some of them include crucial processes such as monitoring the proper pressure levels and fluid levels in power plants, manufacturing and in the oil and gas industry, to increase in overall productivity and safety. This is one of the primary drivers that is estimated to boost the growth of the level measuring instrument market in the coming years. The increasing population is positively impacting the construction industry, which in turn is indirectly increasing the demand for level measuring instruments. This factor is anticipated spur growth of the level measuring instrument market over the forecast period. The increasing demand for energy is resulting in the growth of the oil and gas industry, which in turn positively impacts the growth of the level measuring instrument market. Level measuring instruments play a significant role in oil and gas industry, owing to the requirement of a high degree of precision in maintaining the safety and proper monitoring of the systems.
Skilled and trained technicians are required for the maintenance and testing of level measuring instruments as they are highly sensitive devices. This factor is anticipated to slow down the growth of the transformer testing equipment market.
Level Measuring Instrument Market: Segmentation
The level measuring instrument market can be segmented on the basis of product type, measuring technique and end use.
On the basis of product type, the level measuring instrument market can be segmented into:
- Level Gauge
- Float type
- Hydrostatic Pressure Measurement
- Displacement Type
- Echo Type
- Ultrasonic Type
On the basis of measuring technique, the level measuring instrument market can be segmented into:
- Continuous Level
- Point Level
- Infill prevention
- Solids measurement
On the basis of end use, the level measuring instrument market can be segmented into:
- Oil and Gas industry
- Manufacturing and Fabrication Industry
- Automotive Industry
- Water and Waste Water Treatment
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Level Measuring Instrument Market: Regional Overview
The global level measuring instrument market can be divided into seven geographical regions, namely Asia-Pacific excluding Japan, Western Europe, Eastern Europe, North America, Latin America, Japan, Middle East and Africa. The Western Europe level measuring instrument market is expected to grow with a significant CAGR, owing to the growing automotive industry in the region. Asia Pacific excluding Japan is estimated to account for a prominent market share of the level measuring instrument market, due to the construction and industrial growth observed in emerging economies, such as India and China during the forecast period. Japan is also estimated to hold a significant market share, owing to the growing automobile sector in the region. The North America level measuring instrument market is also slated to witness growth, due to the high adoption rate of advanced level measuring instruments. The Middle East and Africa level measuring instrument market is also expected to grow with a significant growth rate, owing to the boom in the oil and gas industry in the coming year.
Level Measuring Instrument Market: Market Participants
Examples of some of the market participants identified across the value chain of the global level measuring instrument market include:
- VEGA India Level and pressure measurement Pvt. Ltd.
- Sapcon Instruments (P) Ltd.
- Klay Instruments B.V.
- Emerson Electric Co.
- Siemens AG
- OMEGA Engineering Inc.
- Nivus GmbH
- Endress+Hauser Management AG