The Radar Level Transmitter Market is likely to witness a worth of US$ 1.8 Bn
Published on : Monday 07-08-2023
Radar level transmitters are gaining immense popularity given their numerous benefits in comparison to alternative level measurement devices.
August 2023 – According to Future Market Insight, the global radar level transmitter market is projected to reach a value of US$ 850 million in 2023, registering a CAGR of 8.0% from 2023 to 2033. This is anticipated to grow a value of US$ 1.8 billion by 2033.
Radar level transmitters are gaining immense popularity given their numerous benefits in comparison to alternative level measurement devices. One notable advantage is their immunity to fluctuations in temperature or density. Additionally, they offer the flexibility to measure levels in both enclosed and open containers. These features make them highly reliable in several key industries
The global surge in industrialisation stands as a crucial factor propelling the market. As industries continue to emerge, the demand for precise and dependable level measurement escalates. Radar-level transmitters find applications across diverse sectors including oil and gas, chemicals, food and beverage, pharmaceuticals, and water and wastewater treatment.
A focus on optimising asset utilisation and a shift toward non-contact laser transmitters also support the market expansion. A growing need for more efficient measurement solutions and stringent government regulations to mitigate risks associated with hazardous substances is likely to force market progression.
A notable trend observed in the market is the growing prevalence of wireless technology. Traditional wired radar level transmitters are substituted with wireless counterparts given their numerous advantages. These advantages include enhanced flexibility, portability, and simplified installation. Furthermore, wireless radar-level transmitters provide real-time data.
The market is experiencing a prominent trend with the growing uptake of cloud-based solutions. This adoption brings forth various advantages, including lowered operational costs, scalability, and improved security. Moreover, cloud-based solutions provide real-time data which helps in well-informed decision-making processes.
· The radar level transmitter industry in the United States is predicted to reach US$ 577 million by 2033.
· The radar-level transmitter industry in the United Kingdom is estimated to expand at a CAGR of 7.2% between 2023 and 2033.
· During the forecast period, the radar-level transmitter industry in China is expected to reach a market valuation of US$ 157.5 million.
· The radar level transmitter industry in Japan is predicted to boom at a 7.5% CAGR through 2033.
· South Koreas radar-level transmitter industry is predicted to achieve a market revenue of US$ 74.2 million by 2033.
· ABB unveiled the LWT300 Series, a new line of intelligent guided wave radars, in June 2019. This series incorporates the advanced-level expert algorithm. This enables automatic distinction between genuine measured levels and false signals.
· Emerson introduced a specialised edition of its Rosemount™ 5408 Non-Contacting Radar Level Transmitter in November 2017. This version was specifically developed to address the unique requirements of measuring bulk solids levels.