Global Tank Gauging Systems Market Research Report
- Report Code: AU 1017
- Publish Date: Upcoming
Tank gauging is the generic term used for referring to the activity of assessing static quantity of liquid products kept in bulk storage tanks. Tank gauging system is the equipment used for performing this quantity assessment or measurement of liquid products present in a storage tank. Tank gauging can be carried out either by using a volume based equipment or by using mass based equipment. A volume based tank gauging system takes into consideration the level of liquid in the tank and the ambient temperature for performing the measurement. A mass based tank gauging system makes an assessment of the quantity based on the hydrostatic pressure of the liquid column. A very high degree of accuracy and reliability is mandatory for such systems.
Tank gauging is required to be carried out in process industries for the assessment of tank contents, tank inventory control, and tank farm management. The value of the products stored in these tanks is generally in the range of several millions of dollars. Hence, regular quantity assessment of these products with the help of reliable and accurate equipment is of paramount importance. The type of design of the equipment and its level of sophistication depends upon the type of plant installation and the operations that need to be carried out. The four typical operations are inventory control, custody transfer, oil movements and operations, and leak control and reconciliation.
The overall tank gauging system market can be segmented on the basis of the different tank gauging techniques that are in use in the process industry. These techniques are manual gauging, float and tape gauges, servo gauges, radar gauges, hydrostatic tank gauging, and hybrid inventory management system. The tank gauging system market is also segmented on the basis of the application areas where tank gauging is prominently used. These applications are oil and gas, chemicals/petrochemicals, power, food and beverages, pharmaceuticals, pulp and paper, and water and wastewater. This market is also segmented on the basis of geographical regions of North America, Europe, Asia-Pacific, and Rest of the World.
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