An ITG instrument is used to measure the level of liquid inside a storage tank. There are two techniques for measuring the level of liquid – volume-based tank gauging and mass-based tank gauging. ITG instruments are of two types – point level instruments and continuous level instruments. A point level instrument provides the liquid level reading at a specific point, whereas a continuous level instrument provides a continuous reading of the liquid level inside the tank. Based on technology, the ITG is categorized into two segments, namely electronic ITG and mechanical ITG.
Technavio’s analysts forecast the global inventory tank gauging market to grow at a CAGR of 4.62% during the period 2017-2021.
Covered in this report The report covers the present scenario and the growth prospects of the global inventory tank gauging market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography: - Americas - APAC - EMEA
Technavio's report, Global Inventory Tank Gauging Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors - Emerson - Endress+Hauser - Honeywell International - Kongsberg Gruppen - Schneider Electric
Other prominent vendors - Cameron Forecourt - Franklin Fueling Systems - Jasch Industries - KROHNE - L&J Technologies - MTS Systems Corporation - Motherwell Tank Gauging - Musasino - Senix Corporation - Tokyo Keiso - Varec
Market driver - Growth in petrochemical and chemical industry. - For a full, detailed list, view our report
Market challenge - Decrease in demand for mechanical ITG. - For a full, detailed list, view our report
Market trend - Growth of petrochemical and chemical industry in India. - For a full, detailed list, view our report
Key questions answered in this report - What will the market size be in 2021 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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Methodology Research methodology is based on extensive primary and secondary research. Primary research includes in-depth interviews with industry experts, vendors, resellers and customers. Secondary research includes Technavio Platform, industry publications, company reports, news articles, analyst reports, trade associations and the data published by Government agencies.
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