Growth of the chemical and petrochemical industries is expected to fuel the market since it helps measure bulk liquids in storage tanks.
Inventory tank gauging systems are used to measure the level of liquid contained inside a tank. There are two types of tank gauging systems-point level instruments and continuous level instruments.
Honeywell International, Schneider Electric, and Emerson are some of the key players in the inventory tank gauging system market.
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Chemical manufacturing requires a complex series of processes such as condensing, cooling, and heating for evaporation and separation.
However, the exposure of inventory tank gauging instruments in extreme climatic conditions is expected to restrict the market growth. Moreover, increasing uses of radar level transmitters in various industry verticals such as oil & gas, marine, chemical, and others provide ample growth opportunities since it is used to detect continuous level measurement applications.
The report segments the inventory tank gauging system market on the basis of type, technology, and geography. On the basis of type, it includes point level instrument and continuous level instrument.
On the basis of technology, it includes electronic inventory tank gauging instruments and mechanical inventory tank gauging instruments. On the basis of application it is segmented into aviation, defense, oil & gas, and others.
On the basis of geography, it covers North America, Europe, Asia-Pacific, and LAMEA.
The key players of the inventory tank gauging system market are Cameron Forecourt, Motherwell Tank Gauging, TOKYO KEISO CO.LTD., Franklin Fueling Systems, L&J Technologies, MTS Systems Corporation, Varec, Inc., Honeywell International, Schneider Electric, and Emerson.
Inventory Tank Gauging System Market Key Segments: By Type
- Point Level Instruments
- Continuous Level Instruments
- Electronic Inventory Tank Gauging Instruments
- Mechanical Inventory Tank Gauging Instruments
- Oil & Gas
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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