Level measuring equipment are used to accurately measure the volume of liquid or gas in a container. These are used in various industries such as oil & gas, automotive, and construction. Apart from this, these equipment are used in the construction industry during the construction of floors and walls, to obtain the exact measurement of the height and slope of the wall.Level measuring equipment are of two types—digital and analog. These equipment are preferred in the market as these can provide an accurate result which is also easily readable compared to analog level measuring equipment.
COVID-19impact on industry -
COVID-19 pandemic has shut-down the production of various products in the level measuring equipment industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of level measuring equipment market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is anticipated to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
These level measuring equipment are of much use for monitoring the level of liquid and pressure levels in industries. The increase in its demand drives the market growth.
Rise in adoption of level measuring equipment
Rise in adoption of level measuring equipment, which is used to monitor the level of liquid and pressure levels in various industries such as oil & gas, manufacturing, and power plants, is expected to boost the growth of the market during the forecast period.Increase in demand for level measuring equipment in industries, so as to increase their overall safety and productivity is expected to accelerate the growth of the market.
Increase in population is affecting its market
The rise in population is positively impacting the construction industry. This is one of the major factors expected to boost the growth of the level measuring equipment market in the near future.Increase in growth of the oil & gas industry due to rise in demand for energy is anticipated to drive the growth of the level measuring equipment market during the forecast period. In addition, level measuring equipment plays an important role in the oil & gas industry due to the high degree of precision needed to properly monitor the systems. This in turn is expected to be the major driver of the level measuring equipment market.
Key benefits of the report:
- This study presents the analytical depiction of the level measuring equipment industry along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the level measuring equipment market share.
- The current market is quantitatively analyzed to highlight the level measuring equipment market growth scenario.
Level Measuring Equipment Market Report Highlights
By Measuring Technique
By End User Industry
Key Market Players
Baumer, Sapcon Instruments (P) Ltd., VEGA India Level and pressure measurement Pvt. Ltd., Nivus GmbH, Klay Instruments B.V., ABB, Flowline, OMEGA Engineering Inc., Endress+Hauser Management AG, Siemens AG, Emerson Electric Co.