About this report
The global digital liquid level gauge market report explores the critical analysis of the digital liquid level gauge industry using key parameters. The report consists of investment strategies, the need for investments in the digital liquid level gauge industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the digital liquid level gauge industry and how economic and non-economic barriers are helping the digital liquid level gauge market grow. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis.Key technological developments and other analyses such as porter’s five forces analysis, PESTEL analysis, value chain analysis, etc.
Key Highlights of the report
How are the major segments performing in the digital liquid level gauge market?
- In 2021, the petroleum industry segment accounted for the largest market share as it is widely used in measuring petrol in the petroleum industry.
- In 2021, the stainless steel segment was anticipated to hold a prominent share in the global digital liquid level gauge due to the growing usage of manufacturing digital liquid level gauges.
Which region dominated the digital liquid level gauge market?
In 2021, the North American region was anticipated to hold a prominent share in the global digital liquid level gauge market due to growing investments in automation and focus on efficiency of processes across oil and gas, pharmaceutical, and food processing industries during the forecast period.
What is the competitive environment of the digital liquid level gauge market?
The digital liquid level gauge industry’s competitive environment offers information on the total economic profit made by suppliers and businesses, the sales and revenues produced in this sector, the Digital Liquid Level Gauge market share globally, the business organization overview, the launch of new products, and the opportunities for the industrial digital liquid level gauge market. For instance, in February 2022, KLINGER Italy established magnetic level gauges for highly aggressive chemicals. The company has expanded its portfolio of glass-level gauges to include magnetic-level gauges. These measurement devices are currently sold under the product name KMAG. They have been especially developed for applications involving steam and toxic or hazardous liquids and gases. Furthermore, in November 2021, Indian Oil Corporation (IOCL) announced plans to invest $495.22 million to set up India’s first mega-scale maleic anhydride unit for manufacturing high-value specialty chemicals at its Panipat Refinery in Haryana.
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Executive Summary
What was the impact of the COVID-19 pandemic on the digital liquid level gauge market?
The US is the immense military spender in North America, observed by Canada and Mexico. However, due to the consequences of the COVID-19 pandemic, these countries are reducing their investments in developing and developing unique military technologies in the region. Due to determinate social activities in different countries, there was a comprehensive halt in the production, manufacturing, and collection of military and defense equipment. Furthermore, the pandemic and connected to containment measures obstructed the supply chain of the North American level gauge enterprise in the initial month. A reduction in customer orders was also observed. This resulted in a massive backlog of demands among key market players, negatively impacting the level gauge market growth.
Which are the key investments by the players in the digital liquid level gauge industry market?
The leading vendors in the global digital liquid level gauge market are anticipated to tie up with end-use industrial units and manufacturing commodities. Furthermore, the digital liquid level gauge is a niche market, making it integral for market traders to pursue uncommon marketing channels. Therefore, the inbound transaction is anticipated to appear as a prominent growth technique for market growth.
Some of the major players in the digital liquid level gaugemarketareEnerpac, Endress+Hauser, ABB, KROHNE, Inc, The Protectoseal Co, MAGNETROL International, BarthelArmaturenGmbhWeka, King Engineering Corp, Innovative Components, Temposonics, Micro Quality Calibration, Inc, VEGA Grieshaber KG, Hatfield and Company, Inc, AMETEK, Keller America, Inc, Krueger Sentry Gauge Co, John C. Ernst Co. Inc, Nikeson, Garnet Instruments Ltd, Uehling Instrument Co, and Active Controls.
What are the Major Driving Factors for the Digital Liquid Level Gauge Market?
Manufacturing industries have huge requirements for fluid interface measurements in equipment such as cooking drums, dehydrators, regenerators, settlement tanks, and clarifiers. The need for interface measurement occurs when two immiscible liquids are in the same vessel. Interfaces can be liquid-solid interfaces, liquid-liquid interfaces, vapor-liquid interfaces, or foam-liquid interfaces. Magnetic level gauges are used to obtain a precise measurement of the level of upper liquid, bottom liquid, and the level where both liquids meet. Factors such as automated alarm systems and increasing adoption of programmable level gauges will likely drive the market during the forecast period. Integration of sensors also detects positive growth in the digital liquid level gauge market and increases its scope in industries. Reduction of the sensor size, presence of a considerable number of suppliers, comfortable availability of technology, and the growing use of multipurpose level sensors in industrial and automotive sectors are increasing demand for level gauges.
What are the Major Risks forthe Digital Liquid Level Gauge Market?
High prices and the long life span of the level gauge restrict the market’s growth. Furthermore, the availability of substitutes such as thin film technology is expected to result in slow growth of the digital liquid level gauge market during the forecast period. Moreover, freezing measurement equipment in underground tanks hampers the digital liquid level gauge market growth during the forecast period.
Which is the key application in the digital liquid level gauge market?
The petroleum industry is one of the key end users of level gauges. The widespread use of these tools for monitoring storage units and downstream processing plants has maintained digital liquid level gauges in increased demand in the industry. With the expansion in crude oil production in some countries, such as the US, the digital liquid level gauge market is gaining momentum. Furthermore, the intensifying environmental concerns associated with global warming and climate change are expected to drive demand for level gauges in the petroleum industry, harsh environments, and tanks. The rise of automation and digitization at manufacturing plants is also estimated to impact market growth during the forecast period positively.
How is the digital liquid level gauge market performing in regions?
The Asia Pacific region is anticipated to hold a prominent market share in the global digital liquid level gauge. According to International Trade Administration, in 2021, Singapore will become one of Asia’s most important shipping centers and listed as one of the world’s top three oil trading &refining hubs, with 1.5 million barrels per day of refining capability for crude oil. In March 2022, the government of Japan started to provide subsidies for gasoline, gas & oil, kerosene, and fuel oil to support the oil & gas industry. This will assist the oil & gas industry in recovering from the effect of the COVID-19 pandemic. Such initiatives by the countries for their respective industries contribute to the growth of the level gauge market in the Asia Pacific.
Furthermore, Europe’s digital liquid level gauge market is projected to record significant growth due to the evolving regulatory landscape, resulting in manufacturers’ increasing focus on greater quality and accuracy in the petroleum and marine industries.
What is the regulatory landscape for the digital liquid level gauge market?
The Nucleonic gauges are developed to be sturdy and withstand extreme environmental conditions. The radiation security components are also created into the design of nucleonic gauges. This ensures minimal radiation exposure to personnel handling these gauges and those around the gauge. Also, most process control gauges, i.e., fixed gauges, are sited in areas that are not usually occupied and are remotely operated. Furthermore, it usually results in the presence of the source slowly being forgotten. Further, there could be an accumulation of layers of dirt & oil which may cover any radiation warning signs/labels, and the gauge with the source is left at the installation site or in the storage place.
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What is the market size of the digital liquid level gauge regarding value?
The global digital liquid level gauge market is anticipated to grow at a substantial CAGR of xx% in the upcoming years. The global digital liquid level gauge industry was estimated to be worth USD xx million in 2021 and was expected to be worth USD xx million by 2028.
What are the major players planning for the future of the digital liquid level gauge market?
Strategic alliances are predicted to become a requirement for the vendors in the years to pursue. In other words, penetrating fresh markets requires an overhaul of players’ growth strategies. Joint ventures with locally-established market vendors would play to the advantage of the leading market players.
Segmentation of Global Digital Liquid Level Gauge Market-
Global Digital Liquid Level Gauge Market – By Types
- Aluminum
- Stainless Steel
- Others
Global Digital Liquid Level Gauge Market – By Application
- Petroleum Industry
- Marine Industry
- Others
Global Digital Liquid Level Gauge Market – By Region
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
