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Global Radar Level Transmitter Market to 2023 - Fluctuating Market Trends Observed in Mature End-User Industries Likely to Hamper DemandDUBLIN, Sept 19, 2018 /PRNewswire/ --
The "Radar Level Transmitter Market by Technology, Frequency, Application, Industry, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering. The radar level transmitter market is estimated to be worth USD 428.0 million by 2018 reach USD 581.2 million by 2023, growing at a CAGR of 6.3% during the forecast period. Benefits of high accuracy, reliability, and stability offered by radar level transmitters; increasing demand for radar level transmitter in the water & wastewater industry; and growing emphasis on optimum utilization and efficiency of assets are the key factors driving the market's growth. The market has been segmented based on technology, frequency range, application, industry, and region. In 2017, noncontact technology held a larger share (than contact technology), in terms of value, of the overall radar level transmitter market. However, contact technology (guided wave radar) held a larger share in terms of volume. Traditionally, three different frequency bands have been used for noncontact radar level measurements: the C-band (~6 GHz), the X-band (~10 GHz), and the K-band (~26 GHz). Recently, noncontact radar level transmitters using 75-85 GHz frequencies (the lower part of the W-band) have been introduced in the market as an additional option. The use of 75-85 GHz transmission frequencies has improved focusing of radar transmitters, allowing for more accurate and reliable measurements in tanks with agitators, heating coils, and other internal obstructions. K-band frequency range held the largest share of the noncontact radar level transmitter market. K band radar level transmitters are the most widely used transmitters in process industries. These transmitters have a more focused beam angle and smaller process connection sizes than C and X band radar level transmitters. Such transmitters are ideal for use in tanks and vessels with moderate process conditions and long distance applications with smooth surfaces. Radar level transmitters are used for liquid, slurries, solids, and interface measurement. Guided wave radar transmitters are commonly used for measuring levels of media such as paint, latex, animal fat, soy bean oil, saw dust, carbon black, titanium tetrachloride, salt, and grain. Though noncontact radar level transmitters can measure levels of both solid and liquid media, they are mostly used for liquid level measurement in industries such as food & beverages, pharmaceuticals, chemicals, and oil & gas. With an increasing adoption in industries such as food & beverages, cement, and metals & mining, the demand for radar level transmitters is likely to grow at a higher rate for solids measurement applications during the forecast period. The oil & gas industry is estimated to hold the largest share of the radar level transmitter market in 2018 due to demand for reliable and accurate level measurement systems. Radar level transmitters are used for a variety of processes in the oil & gas industry, including level monitoring in effluent tanks, oil separators and hydraulic oil tanks. Radar level transmitters provide a high high-performance, and cost-effective measurement means for continuous level measurement in the oil & gas industry. Radar Level Transmitter Market The market in APAC is expected to be the fastest-growing one globally. The region has witnessed a significant growth in manufacturing activities due to low manufacturing costs and supportive local governments. Furthermore, the growing demand for petrochemicals and increasing population in countries such as China and India are fueling chemicals and pharmaceuticals industries in APAC. India and China are considered huge markets for radar level transmitters owing to growing industrial manufacturing activities in these countries. Investments in municipal water sector is expected to be high in APAC countries. This factor offers opportunities for radar level transmitters to penetrate the water & wastewater industry further. Oil & gas and petrochemicals are among the key end-use industries of radar level transmitters. Numerous changes in these industries, such as fluctuations in the price of crude oil globally due to a price war between Organization of the Petroleum Exporting Countries (OPEC) and Non-OPEC countries, are restraining the growth of the radar level transmitter market. As of 2017, Endress+Hauser (Switzerland), VEGA Grieshaber (Germany), Emerson Electric (US), Siemens (Germany), and KROHNE Messtechnik (Germany) were the major players in the radar level transmitter market. These players are focusing on product launches and expansions to enhance their product offerings and expand their businesses. Key Topics Covered: 1 Introduction For more information about this report visit https://www.researchandmarkets.com/research/q66jw8/global_radar?w=5 Media Contact: Research and Markets
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