MIDDLE EAST AND AFRICA REGION TO LEAD GROWTH IN LEVEL MEASURING INDUSTRIES
06 September 2005 - Venture Development Corporation

A new study by VDC on global process level measurement and inventory tank gauging markets finds that the worldwide process level measuring device market totaled approximately $1.3 billion in 2004, and forecasts it will increase at a 4.4% Compound Annual Growth Rate to over $1.6 billion in 2009. The worldwide inventory tank gauging system market totaled $327 million in 2004, and is expected to increase at a 5.7% CAGR to $431 million in 2009. However, market growth rates are not expected to be uniform across the globe, as shown below.

Level measurement is a widely measured process variable and there are a large number of sensing technologies utilized. The purpose of level measurement devices is to determine the height of various materials in tanks, containers, silos, or any other container capable of holding liquids and/or granular solids.

Inventory Tank Gauging is the use of level measuring for inventory storage and custody transfer applications as opposed to process control. Many of the ITG systems provide greater accuracy than process level measurement devices, and over greater heights.

Middle East and Africa Region

In these markets, the most significant growth in both product markets is expected for gas and petroleum industry applications. Shipments for this industry are expected to increase at relatively high growth rates as a result of sharply rising fuel prices and expanding Middle Eastern exploration, oil field production and refinery capacity. In the case of ITG, there is a growing need to more accurately monitor inventory levels.

Asia-Pacific Region

In the Asia/Pacific markets, the chemical and gas and petroleum industries account for the largest shares of the process level measuring device market. Above-average growth rates are expected in both industries.

Asia/Pacific chemical and petrochemical market segments are expected to benefit from a trend to shifting of production in these industries from North America to Asia. This will cause a rising regional demand for the level sensing technologies predominantly used in those segments.

The emerging and expanding gas and petroleum industry in China will be a primary driver of the region's growing markets for both process level measurement devices and ITG systems.

For process level measurement devices, there also are significant markets in the electric power industry and for water/wastewater applications. Growth in these is also expected to be relatively high, driven by infrastructure building in China, but also in other countries of the region.

http://www.vdc-corp.com

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