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Global Radar Level Transmitters Market 2019-2023
SKU ID : TNV-14032404 | Publishing Date : 12-Mar-2019 | No. of pages : 129
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About this market
In the oil and gas industry, the quality of the final products mainly depends on the raw material separation process. The separation process recovers solvents and additives and extracts impurities. Interfaces are commonly present during the separation process, and reliable data regarding the actual interface level becomes crucial during hydrocarbon processing. The increase in the rig count is mainly attributed to the gradual rise in offshore drilling projects, especially in the Gulf of Mexico. The rise in the number of projects is due to the stabilization of the crude oil price, which increased the profit margin for drilling and production companies. analysts have predicted that the radar level transmitters market will register a CAGR of almost 5% by 2023.
Market Overview
Stringent government regulations
Implementation of these regulations aids in the use of high-quality radar level transmitters in the process industries to reduce the risk of overflow of hazardous substances. Industry standards that monitor potentially explosive environments, toxic gas performance, open path performance, and flame and gas system are expected to play a significant role as growth drivers. Therefore, strict emission standards will lead to the demand for high-quality and technologically advanced radar level transmitters in the process industries.
Availability of alternatives
Ultrasonic level transmitters due to their low cost, pose a major challenge to radar level transmitters. In addition, ultrasonic level transmitters are a type of NC transmitters, they have limited moving parts and require low maintenance. Thus, the availability of cost-efficient ultrasonic level transmitters is impacting the growth of the global radar level transmitters market.
For the detailed list of factors that will drive and challenge the growth of the radar level transmitters market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
In the oil and gas industry, the quality of the final products mainly depends on the raw material separation process. The separation process recovers solvents and additives and extracts impurities. Interfaces are commonly present during the separation process, and reliable data regarding the actual interface level becomes crucial during hydrocarbon processing. The increase in the rig count is mainly attributed to the gradual rise in offshore drilling projects, especially in the Gulf of Mexico. The rise in the number of projects is due to the stabilization of the crude oil price, which increased the profit margin for drilling and production companies. analysts have predicted that the radar level transmitters market will register a CAGR of almost 5% by 2023.
Market Overview
Stringent government regulations
Implementation of these regulations aids in the use of high-quality radar level transmitters in the process industries to reduce the risk of overflow of hazardous substances. Industry standards that monitor potentially explosive environments, toxic gas performance, open path performance, and flame and gas system are expected to play a significant role as growth drivers. Therefore, strict emission standards will lead to the demand for high-quality and technologically advanced radar level transmitters in the process industries.
Availability of alternatives
Ultrasonic level transmitters due to their low cost, pose a major challenge to radar level transmitters. In addition, ultrasonic level transmitters are a type of NC transmitters, they have limited moving parts and require low maintenance. Thus, the availability of cost-efficient ultrasonic level transmitters is impacting the growth of the global radar level transmitters market.
For the detailed list of factors that will drive and challenge the growth of the radar level transmitters market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
