Level Gauge Market is expected to reach US$ 2,013.69 Million by 2028 | The Insight Partners

Increasing Use of Level Gauge to Measure Water Level to Provide Growth Opportunities for Level Gauge Market During 2022-2028

NEW YORK, UNITED STATES, February 28, 2023 /EINPresswire.com/ -- According to the new research report on "Level Gauge Market Forecast to 2028 – COVID-19 Impact and Global Analysis," published by The Insight Partners, the market is expected to reach US$ 2,013.69 million by 2028, registering a CAGR of 5.6% from 2022 to 2028.

The oil & gas industry is one of the key end users of level gauges. The widespread usage of these instruments for monitoring storage units and downstream processing plants has kept level gauges in high demand in the industry. With the rise in crude oil production in some countries, such as the US, the level gauge market is gaining momentum. In contrast, the International Energy Agency reports that Asia Pacific is the largest importer and consumer of natural gas. China was responsible for two-thirds of world natural gas demand in 2021. Transportation is vulnerable to leaks as a high-pressure pipeline does not serve the region. As a result, regular monitoring is required throughout the shipment.

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One of the important factors driving the growth of the level gauge market is the growth of oil & gas businesses and strong industrial activity worldwide. Additionally, increased deployment of automatic tank gauge systems is boosting the adoption of level gauge systems in various industries, likely to fuel the level gauge market expansion over the forecast period. Due to high accuracy levels in measuring components in pharmaceutical manufacturing, the pharmaceutical industry is likely to see increased demand. Initially, pharmaceutical manufacturers had numerous measuring issues, resulting in a requirement for level sensing gauges. The necessity to get government certification, conform to criteria set by numerous health-related organizations, and maintain perfect operations has increased the demand for level gauges in the pharmaceutical industry. Furthermore, throughout the forecast period, the expansion of automated processes in the pharmaceutical industry is likely to drive the need for level gauges.

Europe includes various well-established economies, such as France, Germany, Russia, the UK, and Italy. The food & beverages, medical, chemicals and petrochemicals, and pharmaceuticals industries in these countries are among the most significant contributors to the level gauge market in the region. In 2020, the UK was the leading pharmaceutical market in Europe with 161 pharmaceutical and biotechnological companies. Moreover, the requirement for level gauges is increasing in countries such as Norway, Sweden, the UK, and the Netherlands with the continued growth of pharmaceutical companies. The companies in the level gauge market are implementing various strategies due to the increase in demand for level gauges. For instance, in February 2020, Klinger Italy launched magnetic level gauges for hazardous fluids and gases. In June 2020, General Instruments executed the largest order of magnetic level gauge for CPECC/ADNOC- BAB Integrated Facilities Project. Such key developments of the manufacturers are driving the growth of level gauge market. The increasing number of level gauge manufacturers is further contributing to the market size in the region. PI Control Europe, P&ID b.v., Wema UK, ABB, Bliss Anand Europe, Hadro Techniek B.V., General Instruments Europe, Fival Srl, and Klinger Europe are among the prominent level gauge market players in Europe. These manufacturers offer more than one type of level gauge. For instance, P&ID b.v. offers Visco & Viscorol, Valve Fluid Level Indicator 126 series, and Valve Fluid Level Indicator 127 series.

The List of Top Companies - Level Gauge Market
ABB Ltd.
Barksdale Inc.
Ayvaz
BinMaster
jbj Techniques Ltd.
Jogler, LLC
KOBOLD Messring GmbH
KROHNE Messtechnik GmbH
Krueger Sentry Gauge Co.
SensorsOne Ltd.

Automatic tank gauge systems, often known as ATGs, are a great addition to any fleet's maintenance program. An ATG is an electronic gauge type installed within an above- or below-ground tank. It monitors the fuel volume or lubricant over time to determine if the tank is leaking liquids. Automatic tank monitoring systems are useful for assessing fluid levels, utilization based on volume, and tank temperature and can alert operators when tank contents are too high or have hit a critical low and monitor for leaks. Other features of an automatic tank gauge technology include measuring any gaps in the connections between tanks, pipes, and hose lines and monitoring technology pressurization. Modern ATGs are sophisticated monitoring systems that can be either wired or remotely accessed via a wireless modem.

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Germany, Italy, the UK, Russia, France, and Spain are among the countries that were most affected by various limitations and restrictions. Several countries in the region witnessed an economic hit and a decline in business activities across the oil & gas sector due to lowering oil prices in the first quarter of 2020. Many European countries have implemented drastic measures on imports and exports and the shipment of goods by partially closing their borders. These measures declined the demand for energy in various industry verticals, which, in turn, negatively affected the level gauge market share in Europe.

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The Insight Partners
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