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Inventory Tank Gauging System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global inventory tank gauging system market size reached US$ 621 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 752.3 Million by 2027, exhibiting a CAGR of 3.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

The inventory tank gauging system is used to measure the amount of liquid in large storage tanks to analyze the amount and temperature of the components present in the container. It comprises an electronic control panel, tank probe, and a remote printer or display monitor. It helps in inventory control, oil movement, leakage detection, and overfill prevention. It is also used to detect leakages in the storage tanks by performing periodic tests every few hours while the tank is inactive. As a result, the inventory tank gauging system is deployed in different industry verticals, such as mining, defense, aviation, agriculture, automotive, and oil and gas.

Inventory Tank Gauging System Market Trends:

Significant growth in the chemical and petrochemical industries represents one of the key factors positively influencing the market. In addition, rapid automation in various industries and the widespread adoption of ITG systems to identify product losses, develop static and dynamic measuring techniques, and offer accurate measurement to the operator, are contributing to the market growth. In line with this, radar tank gauging systems are also utilized for non-contact measuring of liquified natural gas (LNG) in tanks with minimal maintenance requirements and highly precise and effective results. Furthermore, the widespread usage of gauging systems in power and wastewater management plants is propelling the growth of the market. Additionally, technological advancements, such as the integration of ITG systems with the Internet of Things (IoT) and human-machine interface (HCI), are offering a favorable market outlook. Moreover, increasing investments by leading market players in research and development (R&D) projects are expected to drive the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global inventory tank gauging system market report, along with forecasts for growth at the global and regional levels from 2022-2027. Our report has categorized the market based on type, technology, and application.

Breakup by Type:

  • Point Level Instruments
  • Continuous Level Instruments


Point level instruments represent the largest market segment as they are used to detect variations in dry and liquid levels in tanks, vessels and silos. 

Breakup by Technology:

  • Electronic ITG
  • Mechanical ITG


Electronic ITG currently holds the largest market share as it delivers highly accurate results from gauging without making any direct contact with the liquid.

Breakup by Application:

  • Aviation
  • Defense
  • Oil and Gas
  • Others


On the basis of the application, the market has been segmented into the aviation, defense, oil and gas, and other sectors.

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa


The Asia Pacific exhibits a clear dominance in the market due to the increasing adoption of ITG systems in the petrochemical, chemical, and oil and gas industries. 

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being 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 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Million
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
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
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)


Key Questions Answered in This Report:

  • How has the global inventory tank gauging system market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global inventory tank gauging system market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global inventory tank gauging system market and who are the key players?
  • What is the degree of competition in the industry?

1   Preface
2   Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Inventory Tank Gauging System Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Type
    6.1    Point Level Instruments
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Continuous Level Instruments
        6.2.1 Market Trends
        6.2.2 Market Forecast
7   Market Breakup by Technology
    7.1    Electronic ITG
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Mechanical ITG
        7.2.1 Market Trends
        7.2.2 Market Forecast
8   Market Breakup by Application
    8.1    Aviation
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Defense
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Oil and Gas
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9   Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10  SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11  Value Chain Analysis
12  Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13  Price Analysis
14  Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Cameron Forecourt (TSG Fleet)
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio 
        14.3.2    Emerson Electric Co.
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials 
           14.3.2.4 SWOT Analysis
        14.3.3    Franklin Fueling Systems LLC (Franklin Electric Co. Inc.)
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio 
        14.3.4    Honeywell International Inc.
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials 
           14.3.4.4 SWOT Analysis
        14.3.5    L&J Technologies Ltd.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio 
        14.3.6    Motherwell Tank Gauging Limited
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio 
        14.3.7    MTS Systems Corporation
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
        14.3.8    Schneider Electric
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio 
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    Tokyo Keiso Co. Ltd.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Varec Inc. (Science Applications International Corporation)
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio 

List of Figures

Figure 1: Global: Inventory Tank Gauging System Market: Major Drivers and Challenges
Figure 2: Global: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016-2021 
Figure 3: Global: Inventory Tank Gauging System Market: Breakup by Type (in %), 2021
Figure 4: Global: Inventory Tank Gauging System Market: Breakup by Technology (in %), 2021
Figure 5: Global: Inventory Tank Gauging System Market: Breakup by Application (in %), 2021
Figure 6: Global: Inventory Tank Gauging System Market: Breakup by Region (in %), 2021
Figure 7: Global: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027 
Figure 8: Global: Inventory Tank Gauging System (Point Level Instruments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Inventory Tank Gauging System (Point Level Instruments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Inventory Tank Gauging System (Continuous Level Instruments) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Inventory Tank Gauging System (Continuous Level Instruments) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Inventory Tank Gauging System (Electronic ITG) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Inventory Tank Gauging System (Electronic ITG) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Inventory Tank Gauging System (Mechanical ITG) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Inventory Tank Gauging System (Mechanical ITG) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Inventory Tank Gauging System (Aviation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Inventory Tank Gauging System (Aviation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Inventory Tank Gauging System (Defense) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Inventory Tank Gauging System (Defense) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Inventory Tank Gauging System (Oil and Gas) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Inventory Tank Gauging System (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Inventory Tank Gauging System (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Inventory Tank Gauging System (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: North America: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: North America: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: United States: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: United States: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Canada: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Canada: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Asia Pacific: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Asia Pacific: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Japan: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Japan: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: India: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: India: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: South Korea: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: South Korea: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Australia: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Australia: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Indonesia: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Indonesia: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Others: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Others: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: France: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: France: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Italy: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Italy: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Spain: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Spain: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Others: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Others: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Brazil: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Brazil: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Mexico: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Mexico: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Others: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Others: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Middle East and Africa: Inventory Tank Gauging System Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Middle East and Africa: Inventory Tank Gauging System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Global: Inventory Tank Gauging System Industry: SWOT Analysis
Figure 73: Global: Inventory Tank Gauging System Industry: Value Chain Analysis
Figure 74: Global: Inventory Tank Gauging System Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Inventory Tank Gauging System Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Inventory Tank Gauging System Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Inventory Tank Gauging System Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Inventory Tank Gauging System Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Inventory Tank Gauging System Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Inventory Tank Gauging System Market Structure
Table 7: Global: Inventory Tank Gauging System Market: Key Players


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