Chemical and marine segments lead growth

The worldwide market for radar level devices is expected to grow at a compounded annual growth rate (CAGR) of 5.9% over the next five years. The market was $ 316 million in 2007 and is forecasted to be $ 421 million in 2012, according to a new ARC Advisory Group study. Suppliers have been successful in addressing user requirements by offering products with improved accuracy and broader frequency ranges. Market growth is largely due to a substantial increase in shipments to the chemical and marine segments. While the chemical and marine segments were the standouts, other industry sectors posted strong, above average growth. Food & beverage, pharmaceuticals, and water & wastewater all experienced double-digit increases in shipments in recent years.kem www.arcweb.com