Global Inventory Tank Gauging System Market to Grow at 2.82% During 2025-2033, Impelled by Considerable Growth in Chemical and Petrochemical Industry

January 17, 2025 | Energy & Mining

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According to the latest report by IMARC Group, titled "Inventory Tank Gauging System Market Report by Type (Point Level Instruments, Continuous Level Instruments), Technology (Electronic ITG, Mechanical ITG), Application (Aviation, Defense, Oil and Gas, and Others), and Region 2025-2033," the global inventory tank gauging system market reached a value of USD 682.3 Million in 2024. The inventory tank gauging system is widely used for liquid measurement in large storage tanks to analyze the level and temperature of any component present in the tank. They consist of a tank probe, electronic control panel and a remote printer or display monitor. These systems ensure an accurate level, temperature, and pressure measurements for various purposes, including inventory control, oil movement and overfill prevention. They are also used to detect leakages in the storage tanks by performing periodic tests every few hours while the tank is inactive. As a result, they are extensively being deployed across numerous industry verticals, such as mining, defense, aviation, agriculture, automotive, and oil and gas.

Global Inventory Tank Gauging System Market Trends:

The market is primarily driven by the significant growth in the chemical and petrochemical industry. ITG systems are widely deployed across the sector as they help identify product losses, develop static and dynamic measuring techniques, and offer accurate measurement to the operator. They are also essential for detecting leaks and other faults in an efficient manner. Consequently, they are used for measuring bulk liquids in storage tanks in multiple industrial processes, including cooling, heating, condensing, evaporating and separating, thereby providing a thrust to the market growth. Along with this, there has been a considerable increase in the adoption of radar tank gauging systems. These ITG systems are employed for non-contact measuring liquified natural gas (LNG) levels in tanks with highly precise results and minimal maintenance requirements. The market is further driven by the continual technological advancements that aim at launching systems to detect leakages in tanks without needing it to be inactive. They are also integrating these systems with the Internet of Things (IoT) and human-machine interface (HCI) in an attempt to reduce production loss and improve overall equipment effectiveness. Looking forward, the market value is projected to reach USD 887.8 Million by 2033, expanding at a CAGR of 2.82% during 2025-2033.

Market Summary:

On the basis of the type, the market has been bifurcated into point and continuous level instruments.
Based on technology, the market has been divided into electronic and mechanical ITG.
On the basis of the application, the market has been categorized into aviation, defense, oil and gas, and others.
On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Cameron Forecourt (TSG Fleet), Emerson Electric Co., Franklin Fueling Systems LLC (Franklin Electric Co. Inc.), Honeywell International Inc., L&J Technologies Ltd., Motherwell Tank Gauging Limited, MTS Systems Corporation, Schneider Electric, Tokyo Keiso Co. Ltd., and Varec Inc. (Science Applications International Corporation).

Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Million USD
Segment Coverage	Type, Technology, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Cameron Forecourt (TSG Fleet), Emerson Electric Co., Franklin Fueling Systems LLC (Franklin Electric Co. Inc.), Honeywell International Inc., L&J Technologies Ltd., Motherwell Tank Gauging Limited, MTS Systems Corporation, Schneider Electric, Tokyo Keiso Co. Ltd. and Varec Inc. (Science Applications International Corporation)
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Inventory Tank Gauging System Market to Grow at 2.82% During 2025-2033, Impelled by Considerable Growth in Chemical and Petrochemical Industry

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