The global radar level transmitter market is set to gain momentum from The higher level of accuracy, reliability, and stability offered by radar level transmitters is expected to fuel the demand of the market during the forecast period, states Fortune Business Insights, in a report, titled “Radar Level Transmitter Market Size, Share & Industry Analysis, By Technology (Contact, Noncontact), By Frequency Range (C and X Band, W Band, K Band), By Application (Liquids, slurries, and interfaces, Solids), By Industry (Oil & Gas, Chemicals, Water & wastewater, Food & beverages, Pharmaceuticals, Others) and Regional Forecast, 2021-2028.” The market is expected to rise tremendously during the forecast period owing to its wide application in industries.
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Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
Market Driver:
Introduction of ABB’s New Series of Wave Radars to Boost Growth
ABB, a Swiss-Swedish multinational corporation headquartered in Zurich, Switzerland, announced the launch of a new series of smart guided wave radars LWT300 Series. The wave radars are equipped with a powerful level expert algorithm, that automatically differentiates between the actual measured level and false signals. The Introduction of the new series of smart guided wave radars by ABB is expected to have an excellent effect on the global market in the foreseeable future owing to its powerful algorithm.
Furthermore, the growing application of radar technology in oil & gas, pharmaceuticals, water & wastewater, food & beverage industry is expected to accelerate the market during the forecast period. Radar technology is mainly used for the detection of levels in continuous level measurement applications, as it offers noncontact measurements by using frequency modulated continuous wave (FMCW) radar and pulsed radar in case of liquids in a metal tank. Additionally, the high use of microwave level measurement devices owing to its ability to perform accurately and quality measurement is expected to strengthen the growth of the market. For instance, these devices use electromagnetic waves, that are usually found in the microwave X-band range, which is near about 10 GHz.
However, the demand for other measurement devices in industries can consequently hamper the growth of the market in the foreseeable future.
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Regional Analysis:
High Demand for Petrochemicals to Aid Expansion in the Asia Pacific
The market in North America is expected to witness a rapid growth rate during the forecast period owing to the presence of major companies such as Emerson Electric, Honeywell International Inc., AMETEK Inc., and others. Asia Pacific is expected to hold a significant share in the global market owing to the increasing government support along with low manufacturing costs in the region. The heavy demand for petrochemicals in China and India is expected to aid the expansion of the market in Asia Pacific. The rising population along with flourishing chemicals and pharmaceutical industries is expected to uplift the market in the region. The increasing industrialization in India and China is expected to enable speedy expansion of the market. The investments in the water & wastewater industry are expected to bode well for the market in APAC. Europe is expected to experience rapid growth during the forecast period owing to existing companies such as Siemens, Schneider Electric, ABB, and others in the region.
Key Players Assessment in this Research:
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in this market
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
Significant Development:
September 2019: Hawk Measurement Systems announced the launch of New Radar Transmitter SENATOR. The SENATOR Radar Level Transmitter is a non-contact sensor that uses FMCW (Frequency Modulated Continuous Wave) technology.
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The Report Lists the Main Companies in the Radar Level Transmitter Market:
- Mondi Group (Austria)
- Amcor plc (Australia)
- Berry Global Inc. (U.S.)
- BALL CORPORATION (U.S.)
- Stora Enso (Finland)
- Constantia Flexibles (Austria)
- Plastipak (U.S.)
- Tetra Pak International S.A. (Switzerland)
- DS Smith (UK)
- ExxonMobil Chemical (U.S.)
- Other Key Players
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