Radar Level Transmitter Market Size, Gross Margin, Trends, Future Demand, Analysis by Top Leading Players and Forecast till 2030

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, 2023-2030." The market is expected to rise tremendously during the forecast period owing to its wide application in industries.

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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.

The report on radar level transmitter market encompasses:

Complete analysis of all the segments
Key market trends
Latest industry development
Future projections
Leading regions in the market

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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.

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.

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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This release was published on openPR.