Product category:
Level and tank contents instrumentation
News Release from: ARC Advisory Group | Subject: Radar level market
Edited by the Processingtalk Editorial
Team on 03 June 2008
Radar level market to reach USD421
Million
The radar level measurement market was USD316 million in 2007 and is forecasted to be USD421 million in 2012, according to a new ARC Advisory Group market study
The worldwide market for radar level devices is expected to grow at a compounded annual growth rate (CAGR) of 5.9% over the next five years Suppliers have been successful in addressing user requirements by offering products with improved accuracy and broader frequency ranges
This article was originally published on Processingtalk on 14 Mar 2008 at 8.00am (UK)
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"Radar level measurement technology has advanced significantly, and is more broadly applicable in a number of difficult level measurement applications, such as bulk solids.
Increased accuracy, along with easy installation and a low maintenance profile, even when applied in harsh process environments, have helped radar level devices enjoy greater acceptance among users, making it one of the fastest growing level measurement technologies," according to analyst Allen Avery, the principal author of the ARC report "Radar Level Devices Worldwide Outlook".
Market growth is largely due to a substantial increase in shipments to the chemical and marine segments.
While the chemical and marine segments were the stand-outs, other industry sectors posted strong, above average growth.
Food and beverage, pharmaceuticals, and water and wastewater all experienced double-digit increases in shipments in recent years.
Non-contact microwave radar level devices still account for the majority of shipments.
However, guided wave radar has experienced breakneck growth in recent years.
Guided wave radar devices will continue to see strong growth because they typically meet the process industry requirements such as loop power, low cost, and applicability to both liquid and bulk solid mediums.
They are also ideal for interface detection in oil and gas and refining applications, and are largely immune to foam in agitated process vessels.
Regionally, suppliers can expect to see the largest growth in Asia, where heavy investment in new plant construction continues in core sectors such as chemical, petrochemical, and refining, where radar level devices are used extensively.
In the mature North American and Western European markets, suppliers will largely rely on replacement business, as users swap out older technologies such as DP cells.
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