North America Level Gauge Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Gauge Type, Technology, and End-User

The North America level gauge market is expected to grow from US$ 376.21 million in 2021 to US$ 550.14 million by 2028; it is estimated to register a CAGR of 5.7% from 2021 to 2028.

Automatic tank gauge systems (ATGs) are a significant addition to any fleet's maintenance program. An ATG is an electronic gauge installed within an above- or below-ground tank. ATGs monitor the fuel volume or lubricant level to determine if the tank is leaking liquids. Automatic tank monitoring systems are useful for assessing fluid levels, tank temperature, leak monitoring, and utilization based on volume to alert operators when tank contents are too high or have hit a critical low. Other features of an ATG technology include measuring any gaps in the connections between tanks, pipes, and hose lines and monitoring technology pressurization. Modern ATGs are sophisticated monitoring systems that are either wired or remotely accessed via a wireless modem. ATG ensures product integrity while reducing expensive inventory loss and environmental expenses associated with a leak by continuously monitoring tank contents and temperature. ATGs can detect changes in tank contents and inform operators when a minor or major leak occurs. Further, temperature measurements check the integrity of fluids, such as gasoline, which expands and contracts in reaction to temperature changes. As a few liquids expand and contract, ATG testing necessitates a period after delivery to allow temperature stability within the tank. Moreover, another significant advantage of implementing ATG technology is the guarantee that enough fuel will be available on hand to meet inventory requirements. It notifies when to re-order and refill with an ATG technology. Deliveries can even be automated, allowing facility managers and warehouse operators to focus on other activities.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America level gauge market at a substantial CAGR during the forecast period.

North America Level Gauge Market Segmentation

The North America level gauge market is segmented into gauge type, technology, end-user, and country. Based on gauge type, the market is categorized into tank level, fuel level, water level, and mechanical level. In 2021, the tank level segment held the largest share of the market; and the fuel level segment is expected to register the highest CAGR during the forecast period. Based on technology, the market is segmented into magnetic level gauge, reflex level gauge, transparent level gauge, and tubular level gauge. In 2021, the magnetic level gauge segment held the largest market share; and it is also expected to register the highest CAGR in the market during the forecast period. Based on end-user, the market is segmented into oil & gas, food & beverage, chemical & petrochemical, marine, energy & power, and others. In 2021, the chemical & petrochemical segment held the largest share of the market; and it is also expected to register the highest CAGR during the forecast period. Based on country, the North America level gauge market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest market share; and Canada is expected to grow at the highest CAGR during the forecast period.

ABB Ltd., Barksdale Inc., Ayvaz, BinMaster, Jogler LLC, KOBOLD Messring GmbH, KROHNE Messtechnik GmbH, and Krueger Sentry Gauge Co. are among the leading companies operating in the North America level gauge market.