According to The Insight Partners latest market study on “Level Gauge Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Gauge Type, Technology, and End-User,” the market is expected to grow from US$ 1,391.31 million in 2021 to US$ 2,013.69 million by 2028; it is anticipated to grow at a CAGR of 5.6% from 2022 to 2028.
The water level gauge is normally attached to the boiler directly. There are isolation cocks in the steam and water passageways and a drain cock. A plate-glass-type water level gauge is used for more than 17 bar boiler pressures. The glass tube is replaced by a glass plate assembly housed in a metal enclosure. The group consists of a front and back metal plate sandwich, with glass plates and a center metal plate in between. A mica sheet is placed over the glass surface facing the water and steam, with joints between the glass and the metal plate. When bolting this gauge type together, it is imperative to ensure the bolts are tightened evenly around. Failure will lead to leaking assembly and possibly shattered glass plates.
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The level gauge market is broadly segmented into five major regions North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America is the most technologically advanced region with several key economies, such as the US, Canada, and Mexico. Developed countries in the region are known for adopting advanced technologies, high living standards, and developed infrastructure. Several industries, such as oil & gas and food & beverages, in the region are expanding their production scale due to rising consumer demand, leading to the level gauge market growth.
Based on technology, the level gauge market is segmented into magnetic level gauge, reflex level gauge, transparent level gauge, tabular level gauge, and others. The magnetic level gauge segment is expected to register the highest CAGR in the market during forecast period due to its usage in various end-users. A magnetic level indicator is frequently employed in situations when a sight glass (or glass sight gauge) is unsuitable for the job or underperforming due to plant requirements.
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Impact of COVID-19 Pandemic on Level Gauge Market
Various economies in Asia Pacific witnessed a sharp decline in their gross domestic product (GDP) in 2020 due to the sudden closedown of most economic activities across the country. The region consists of prominent oil and gas producing countries. According to the Organization for Economic Co-operation and Development (OECD), the pandemic severely affected several countries, such as India, Australia, China, and Japan. India is the worst-hit country by the pandemic in this region. Limitations imposed by governments to control the spread of COVID-19 during the initial time frame of the outbreak in these countries have affected the production process due to the limited workforce. China, Australia, Iran, Indonesia, and Malaysia are a few of the major natural gas-producing countries in the region. APAC's main natural gas-consuming countries are China, Japan, South Korea, and India.
The level gauge market is segmented on the basis of gauge type, technology, and end-user. Based on gauge type, the market is segmented into tank level, fuel level, water level, and mechanical level. By technology, the market is segmented into magnetic level gauge, reflex level gauge, transparent level gauge, tabular level gauge, and others. Based on end-user, the market is segmented into oil & gas, food & beverage, chemical & petrochemical, marine, energy & power, and others.
ABB Ltd.; Barksdale Inc.; Ayvaz; BinMaster; jbj Techniques Ltd.; Jogler, LLC; KOBOLD Messring GmbH; KROHNE Messtechnik GmbH; Krueger Sentry Gauge Co.; and SensorsOne Ltd. are among the key players profiled during the study on the level gauge market. In addition, several other important level gauge market players were studied and analyzed during the course of market research study to get a holistic view of the market and its ecosystem.
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