Emerson Electric, Endress+Hauser and Vega Grieshaber are leading players in Radar Level Transmitter Market
The overall analysis of the radar level transmitter market consists of evaluating various technologies, frequency ranges, applications, industries, and geographic regions. The market based on technology has been segmented into contact (guided wave) and noncontact (pulsed and FMCW). Based on frequency range, the market has been segmented into C and X band, K band, and W band. The market based on application has been segmented into liquids, slurries, and interface and solids applications. Finally, based on industry, the market is segmented into oil & gas, chemicals, water & wastewater, food & beverages, pharmaceuticals, power generation, metals & mining, and others, which include cement, pulp & paper, and marine industries.
The market is expected to be worth USD 581.2 million by 2023, growing at a CAGR of 6.3% from 2018 to 2023. In terms of value, the market market is expected to be led by noncontact radar level transmitters. The present market is highly competitive due to the presence of several big and small market players. Product launches and expansions are some of the major strategies adopted by the players to grow in the 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 companies operate globally and provide comprehensive products and services. They rely on their R&D capabilities and product innovations to gain a larger market share.
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Emerson Electric is a leading player offering process measurement solutions to various end-user industries. The company has a strong and diversified product portfolio, which enables it to respond to challenges and opportunities in the marketplace effectively. The company launched several products in 2017 owing to its strong R&D investments; the company adopts an organic growth strategy to expand its existing portfolio and enhance its capabilities. In 2017, Emerson Electric launched a noncontact radar level transmitter to reduce complexities during level measurement for tank monitoring, process control, and overfill prevention. Moreover, Emerson Electric expanded its market presence by opening a new Measurement Technology Center in Beijing, China, and a new 1,100-meter-square manufacturing facility in Dammam, Saudi Arabia.
Endress+Hauser is one of the leading manufacturers of level measurement technologies. The company offers an extensive product range of radar level transmitters for liquid, solid, and interface level measurements. Its increasing revenue and net earnings are attributed to its strategy of growth through expansions and new product launches. For instance, in 2017, the company launched a ‘Micropilot FMR6X’ series of radar level transmitters that are designed with an 80 GHz technology and has measuring range of up to 125 meter. In 2016, the company invested 7.81% of total revenue into R&D. Moreover, to extend its R&D capabilities, in collaboration with Rockwell Automation (US), the company opened its first European test center in Germany. As part of its business strategy, the company focuses on expanding into new markets as well as strengthening its presence in existing sectors. In line with this strategy, the company expanded its presence in China, Belgium, Chile, and Malaysia between 2017-2018 (March).
Vega Grieshaber is one of the prominent players in the radar level transmitter market. The company had significant product launches in the recent years. It is growing organically through its in-house development of new technology and by introducing new products, thereby broadening its product portfolio. The company’s product launches have made it one of the prominent players in this market. In February 2017, the company launched a radar level transmitter ‘VEGAPULS WL S 61’ with an accuracy of +/- 5 mm. Earlier, In January 2017, the company launched VEGAPULS 64, a radar level transmitter that is used in liquid level measurement instruments. This transmitter operates at a frequency of 80 GHz and has an accuracy of +/-2 mm, with a measuring range up to 30 m. Such strategic product developments help the company to cater to the requirements of a broad range of customers.
Other players in the radar level transmitter market include ABB (Switzerland), Honeywell (US), Yokogawa Electric (Japan), AMETEK (US), Magnetrol International (US), Schneider Electric (France), WIKA Alexander Wiegand Beteiligungs (Germany), Bürkert Fluid Control Systems (Germany), Pepperl+Fuchs (Germany), Automation Product Group (APG) (US), Nivelco Process Control (Hungary), Finetek Group (Taiwan), Matsushima Measure Tech (Japan), Spectris (Omega engineering) (US), and Flowline (US).
Related Reports:
Radar Level Transmitter Market by Technology (Contact (Guided Wave Radar), Noncontact (Pulsed & FMCW)), Frequency (C & X, K, and W Band), Application (Liquids, Solids), Industry (Oil & Gas, Chemicals, Food & Beverages), and Region - Global Forecast to 2023
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