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Engineering Industry Reports and Surveys
News Release from: ARC Advisory Group
Edited by the Engineeringtalk Editorial
Team on 28 March 2003
Low-cost ultrasonic level gauges revive
market
The worldwide market for continuous ultrasonic level gauges is expected to grow at a compounded annual growth rate of 1.2% over the next five years.
The proliferation of low-cost versions provides growth prospects for continuous ultrasonic level devices in terms of units sold, but with little growth in revenues The worldwide market for continuous ultrasonic level gauges is expected to grow at a compounded annual growth rate (CAGR) of 1.2% over the next five years
This article was originally published on Engineeringtalk on 10 Nov 2004 at 8.00am (UK)
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Suppliers offering low cost versions will be in the best position to retain and perhaps even gain market share", according to Sr Analyst Paula Hollywood, the principal author of ARC's "Continuous ultrasonic level worldwide outlook".
In 2002, the preponderance of supplier revenues for continuous ultrasonic level devices continued to be derived from hardware.
Software and services accounted for 5% or less of revenues even from the market leaders.
A wholesale shift is not expected in the forecast period.
However, the shift is beginning to take shape as suppliers evolve from product suppliers to vendor managed inventory (VMI) solution providers.
As users become more aware of the impact of the supply chain on their ability to achieve operation excellence, manufacturers will implement VMI solutions in increasing numbers.
Wireless products complement VMI systems.
Tank level management systems provide users maximum control over product distribution, collection, and overall vessel management.
With wireless, there are no boundaries.
A variety of industries can benefit from the maximum control over product distribution, collection, and vessel management that tank level management systems in general provide.
Industries where ultrasonic level technology should have above average growth are energy, pharmaceuticals, food and beverage, and water and wastewater.
All could benefit from ultrasonic based VMI solutions.
Continuous ultrasonic technology is expected to experience the largest growth in the basic service industries of water and wastewater and electric power generation.
Because many Asian countries are still developing their basic service infrastructure and industrial bases, countries in this part of the world offer the best opportunity for growth from a regional perspective.
Due to their large populations, countries such as China and India will need strong food and beverage and pharmaceutical industries.
Ultrasonic technology is strong in both industries.
Above average growth is projected in each.
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