Level Transmitter Market Worth $3.7 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, November 15, 2018 /PRNewswire/ --

According to the new market research report "Level Transmitter Market by Technology (Capacitance, Radar, Ultrasonic, Differential Pressure/Hydrostatic, Magnetostrictive, Radiometric), Industry (Oil & Gas, Chemicals, Water & Wastewater, Power, Metals & Mining), and Region - Global Forecast to 2024", published by MarketsandMarkets, the Level Transmitter Market is expected to grow from USD 3.0 billion in 2018 to USD 3.7 billion by 2024, at a CAGR of 3.85% from 2018 to 2024. Level transmitters are very easy to install, highly robust, resistant to turbulence, and require little maintenance. The need for more accurate and reliable continuous level measurements for inventory management, process efficiency, and safety applications has driven the level transmitter market growth. Food & beverages and pharmaceuticals industries have been witnessing steady growth owing to the increasing purchasing power and rising consumer demand. Thus, the increasing demand for process automation in these industries drive the growth of the level transmitter market.

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Diffrential pressure/hydrostatic level transmitters held largest size of the overall level transmitter market in 2017 

Differential pressure/hydrostatic level transmitters are one of the most commonly used technologies for measuring liquid level in process industries such as chemicals, petrochemicals, refining, and power generation. Moreover, with advantages such as robust measuring process, uninfluenced by disruptive factors such as dust, foam, vapor, buildup, and contaminants; versatility; and cost-effectiveness, differential pressure level transmitters are expected to hold the largest share of the level transmitter market during the forecast period.  Differential pressure level transmitters provide reliable protection against overfilling, high measurement certainty without mechanical wear; they also provide accurate and reliable measurement even in the vacuum and high-temperature conditions. Thus, with these advantages, differential pressure level transmitters are estimated to hold a significant market share during the forecast period.