Inventory Tank Gauging

Global Inventory Tank Gauging Market to Reach US$977.6 Million by 2030

The global market for Inventory Tank Gauging estimated at US$734.7 Million in the year 2024, is expected to reach US$977.6 Million by 2030, growing at a CAGR of 4.9% over the analysis period 2024-2030. Chemical, one of the segments analyzed in the report, is expected to record a 5.2% CAGR and reach US$464.7 Million by the end of the analysis period. Growth in the Water & Wastewater segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$150.9 Million While China is Forecast to Grow at 6.5% CAGR

The Inventory Tank Gauging market in the U.S. is estimated at US$150.9 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$208.9 Million by the year 2030 trailing a CAGR of 6.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.4% and 4.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.0% CAGR.

Global Inventory Tank Gauging Market - Key Trends & Drivers Summarized

Inventory Tank Gauging (ITG) systems are pivotal in managing the storage and handling of liquid products within industries such as oil & gas, chemicals, and others. These systems are designed for precise measurement and monitoring of liquid levels, volume, and temperature in storage tanks, facilitating effective inventory management, custody transfer, and safety compliance. Inventory tank gauging systems play a crucial role in the efficient, safe, and compliant operation of storage facilities in the liquid product industries. While the adoption of such systems comes with its set of challenges, including initial investment and complexity, the operational efficiencies, cost savings, and safety enhancements they bring make them an indispensable asset for modern storage terminal operations.

Technological advancements have significantly transformed inventory tank gauging systems, making them more reliable and efficient. The introduction of sophisticated gauge systems for leakage detection is one such development, with these systems capable of eliminating the requirement to empty tanks, resulting in enhanced uptime for operators. The use of automatic tank gauging systems for leakage detection is anticipated to further spur the demand for these systems. Radar-based tank gauging systems are among the most advanced, offering high accuracy and reliability even in harsh environmental conditions. These systems use microwave signals to measure the distance to the liquid surface, providing continuous and precise level measurements. Servo tank gauging systems, on the other hand, use a displacer mechanism to determine liquid levels and are known for their high accuracy and stability. Additionally, modern tank gauging systems are integrated with sophisticated software that enable operators to track inventory levels, detect anomalies, and make informed decisions to optimize storage and distribution processes.

The global inventory tank gauging system market is forecast to exhibit a phenomenal growth due to the lucrative backdrop created by convergence of favorable trends and drivers. The global inventory tank gauging system market is buoyed by strong focus of industries on attaining operational performance and efficiency through accurate measurement of inventory in tanks. The market expansion is favored by increasing uptake of inventory tank gauging systems in diverse domains, from chemical and water & wastewater to food & beverage and oil & gas. Based on its accuracy that holds high significance for process control, custody transfer, tank filling and inventory control, the technology is reporting broader adoption across tank terminals, refineries and various petrochemical applications. Additionally, the expanding chemical and pharmaceutical industries are increasing the demand for reliable tank gauging solutions to manage complex and sensitive liquid inventories. These factors, combined with the continuous innovation and integration of digital technologies, are ensuring robust growth in the inventory tank gauging market, highlighting its critical role in modern inventory management practices.

SCOPE OF STUDY:

The report analyzes the Inventory Tank Gauging market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Technology (Electronic, Mechanical); Application (Chemical, Water & Wastewater, Oil & Gas, Other Applications)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 28 Featured) -

• Emerson Electric Co.
• Endress+Hauser Group Services AG
• Franklin Fueling Systems, Inc.
• Honeywell International, Inc.
• Kongsberg Gruppen ASA
• KROHNE Messtechnik GmbH
• L&J Technologies
• Motherwell Tank Gauging Ltd.
• Musasino Co., Ltd.
• Tokyo Keiso Co., Ltd.
• Varec, Inc. a Leidos Company

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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