Lucintel's latest market report analyzed that level gauge provides attractive opportunities in the oil and gas, chemical, water treatment, and marine markets. The level gauge market is expected to reach $2.1 billion by 2028 with a CAGR of 6%. In this market, tank level gauges is the largest segment by product type, whereas Chemical is largest by end use industry.

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Based on product type, the level gauge market is segmented into tank level gauges, fuel level gauges, water level gauges, and mechanical level gauges. The tank level gauges segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its increasing application to measure the fluid levels in drums, tanks, pressure vessels, and other applications.

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The Level Gauge Market is marked by the presence of several big and small players. Some of the prominent players offering level gauge include ABB, OMEGA Engineering, Honeywell International Inc., Yokogawa, Barksdale Control Products, Jbj Techniques, JOGLER, BinMaster, Keller America, KOBOLD Instrument, Krohne, and SensorsONE.

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