Tank Level Monitoring System Market Size, Growth

Tank Level Monitoring System Market Overview

The Tank Level Monitoring System Market size was valued at USD 763.7 million in 2024 and is expected to reach USD 1031.85 million by 2033, growing at a CAGR of 3.4% from 2025 to 2033.

The global Tank Level Monitoring System (TLMS) market is a cornerstone of industrial automation, offering precise monitoring solutions for liquid storage in sectors like oil & gas, chemical processing, agriculture, water treatment, and power generation. In 2023, market estimates ranged from approximately USD 888 million to USD 999 million. By 2024, analysts reported the market value around USD 1.10 billion, rising to an expected USD 1.18 billion in 2025—an increase of about 80–200 million in a single year. These figures reflect strong investment trends in improving operational safety and reducing manual interventions.

Key technological features include ultrasonic, radar, capacitance, pressure, and float/tape-gauging sensors. For instance, the ultrasonic segment accounts for nearly 25–30% of device adoption due to its non-contact measurement and minimal maintenance needs. Radar-based systems, favored in harsh environments, hold a 20–25% share. Oil & fuel applications dominate, representing approximately 35–40% of market installations, followed by chemical industries at 15–20%, and agriculture/husbandry at about 12–15%. Regional performance varies: North America leads, capturing around 30–35% of global TLMS value in 2024, thanks to strict regulations and industrial modernization. Europe follows with around 25%, Asia-Pacific accounts for about 28%, and the Middle East & Africa covers roughly 12–15%. These numbers reflect a clear upward trend, driven by real-time remote monitoring, automated alerts, and cloud integration.

Key Findings

Top Driver Reason: Automation and real-time inventory oversight are critical drivers due to their proven ability to reduce manual errors and support compliance mandates.

Top Country/Region: North America leads the global market, with estimates showing it holds nearly one-third of total TLMS deployments.

Top Segment: Oil & fuel remains the dominant application, accounting for roughly 35–40% of market installations worldwide.

Tank Level Monitoring System Market Trends

Over the past two years, TLMS adoption has surged, with global market valuation expanding from USD 888 million in 2023 to roughly USD 1.10 billion in 2024—a rise of about USD 212 million. This growth aligns with intensified demand for industrial automation; 52% of TLMS investments were tied to automation, and 46% involved remote monitoring adoption in utilities and chemical sectors. One clear trend is the move toward wireless, IoT-enabled sensors. Market reports indicate a 41% year-over-year increase in wireless device deployment, with 39% more facilities upgrading to real-time analytics systems. This explains why remote monitoring now accounts for approximately 50–55% of new TLMS installations. Technology-driven shifts are reshaping the market. Ultrasonic sensors lead in non-invasive convenience, while radar systems gain traction via consistent reliability in dusty or pressurized environments. Capacitance sensors maintain about 15% of the market, especially in chemical and food processing. Pressure sensors are preferred in power plant and HVAC systems, capturing around 10%. Another major trend is cost reduction and modular design. Standardized platforms now cost 20–30% less than bespoke systems installed just two years ago. Meanwhile, enhanced safety awareness is prompting companies to adopt TLMS not only for inventory control but also to preempt overfills and leaks. As a result, TLMS systems now incorporate automated alerts and compliance logs, reducing spill events by up to 40% in some facilities. Environmental regulation is another tailwind. In sectors like oil & gas and chemicals, over 65% of new TLMS orders are fulfilling stricter emission and spill prevention norms. This regulatory landscape is especially impactful in North America and Europe, where such systems often become mandatory for storage terminals and transport depots. Finally, integration with cloud-based analytics platforms is revolutionizing the landscape. Over half of TLMS systems sold in 2024 featured optional or built-in cloud connectivity. This allows centralized dashboards, AI-driven diagnostics, and predictive maintenance features—delivering ROI in as little as 6–9 months.

Tank Level Monitoring System Market Dynamics

DRIVER

Rising demand for automation and real-time monitoring

The demand for automation in process industries and logistics has led to a massive surge in tank level monitoring systems. With over 70% of industrial facilities globally integrating IoT or SCADA systems, TLMS now plays a critical role in providing accurate, real-time data on liquid storage levels. In 2024 alone, over 1.5 million new installations were reported globally, with the oil and gas sector contributing more than 400,000 installations. Operational safety incidents reduced by approximately 35% in facilities adopting TLMS, confirming their role in improving process control and regulatory compliance. Smart tanks equipped with radar and ultrasonic TLMS have also shown a 45% improvement in inventory forecasting accuracy. The capability to access real-time data remotely has led to a 50–60% reduction in manual labor costs associated with inventory tracking, especially in regions like North America and Europe where labor costs are higher. This shift toward digitized tank farms and terminals has firmly positioned TLMS as a strategic investment for safety, efficiency, and cost-saving.

RESTRAINT

Integration challenges with legacy infrastructure

Despite rapid technological advancements, integration with existing tank systems remains a critical restraint. In 2024, about 30% of storage tanks globally were still operating with outdated or non-standard infrastructure, making retrofitting expensive or technologically complex. Facilities constructed before 1990 often lack standardized interfaces, requiring custom sensors or system design for TLMS installation. Another barrier is the lack of skilled technicians in emerging markets. Surveys show that in Asia-Pacific, 40% of TLMS installation delays were due to workforce limitations or the absence of region-specific calibration protocols. Additionally, sensor accuracy in harsh environments such as high-humidity mining zones or chemically volatile storage tanks still poses engineering challenges. Maintenance issues further complicate adoption, with about 18% of users reporting calibration drift or connectivity interruptions in low-signal regions.

OPPORTUNITY

Expansion in agricultural and rural markets

Agricultural applications for TLMS are gaining traction, especially in monitoring water tanks, fertilizers, and pesticide containers. In 2024, smart farming practices led to over 100,000 installations of TLMS across Asia-Pacific and Latin America—an 18% rise from the previous year. Adoption of solar-powered and wireless TLMS systems has become a game-changer for rural and off-grid locations. Data from rural cooperatives show a 23% improvement in water usage efficiency and a 17% drop in equipment failure due to the predictive capabilities of modern TLMS. As smart agriculture receives significant public and private funding—estimated at over USD 7.5 billion in 2024—the demand for tank monitoring devices in irrigation and fertigation systems is expected to double by 2026. Moreover, small-to-medium farmers benefit from cost-effective TLMS packages, now priced as low as USD 250 per unit, including GSM connectivity. These smart systems help reduce crop losses, optimize resource allocation, and support environmental sustainability—a rising priority in policy frameworks across Europe and South Asia.

CHALLENGE

Data security and remote connectivity limitations

While IoT-based TLMS systems are increasingly popular, cybersecurity remains a pressing concern. In 2023, approximately 14% of smart monitoring systems in North America reported attempted unauthorized access, with malware and cloud vulnerabilities ranking as top threats. The risk of data breaches or manipulation is especially problematic in industries handling hazardous or flammable materials. Furthermore, reliance on continuous connectivity poses risks in remote industrial zones. In parts of Africa and Central Asia, up to 40% of installed TLMS devices reported periodic signal loss, affecting real-time reporting. Low bandwidth or lack of network redundancy contributes to performance degradation. Addressing these issues requires not only investment in secure cloud platforms but also robust local edge processing and encrypted data storage.

Tank Level Monitoring System Market Segmentation

The Tank Level Monitoring System market is segmented based on type and application, enabling tailored deployments across diverse industrial needs. In 2024, type-based segmentation accounted for approximately 58% of system selection decisions, while application-specific considerations influenced 42% of purchases globally.

By Type

Oil & Fuel: This is the most dominant segment, accounting for nearly 40% of total installations globally. In 2024, over 1.2 million tanks used TLMS in the fuel sector, driven by regulatory requirements and operational needs. Real-time data helps in leak detection, theft prevention, and logistics optimization. In the U.S. alone, more than 400,000 gas stations use TLMS for underground tank monitoring.
Chemical: The chemical industry contributed approximately 18% of global TLMS demand. The need for accurate level sensing of corrosive or volatile liquids has led to increased use of radar and capacitance-based systems. Over 250,000 units were sold to chemical plants worldwide in 2024, with 30% of them deployed in Europe.
Power Plant: Power generation facilities account for around 12% of TLMS use. Cooling water reservoirs, fuel tanks, and waste treatment units use level monitoring extensively. Data shows that TLMS integration reduced plant downtime by 22% and improved safety event compliance by 19% year-on-year.
Mining: Mining facilities increasingly rely on pressure-based and radar TLMS for tailing ponds and reagent tanks. In 2024, mining applications held a 10% market share with an estimated 180,000 installations. Australia and South Africa are key markets.
Automotive: The automotive sector uses TLMS in coolant, lubricant, and fuel storage facilities, comprising about 8% of market demand. Approximately 150,000 devices were deployed globally in 2024. Growth is steady due to rising investments in EV battery coolant systems.
Agriculture & Husbandry: This segment has seen rapid growth, with over 120,000 units sold in 2024. Farmers increasingly use solar-powered TLMS to monitor irrigation water and fertilizer levels. Adoption in South America and India grew by 19% in one year.

By Application

Float & Tape Gauging: Though traditional, this method remains in use for small-scale storage. It holds about 10% of market share, with declining popularity in developed regions. In 2024, nearly 85,000 new installations were reported, mainly in Asia-Pacific.
Pressure Level Monitoring: Used extensively in mining, HVAC, and chemical plants, this technique had over 230,000 deployments in 2024. It offers high accuracy under extreme temperature or pressure conditions.
Ultrasonic Level Monitoring: The most popular non-contact method, accounting for nearly 28% of global TLMS systems. In 2024, more than 500,000 ultrasonic devices were shipped, up 12% from the previous year.
Capacitance Level Monitoring: Primarily used in the food, pharma, and chemical sectors, these sensors provide high accuracy in viscous or dielectric fluids. Roughly 180,000 units were sold globally in 2024.
Radar-Based Level Monitoring: Highly accurate in volatile environments, radar TLMS held 20–25% market share in 2024. Over 400,000 systems were installed globally, with widespread use in oil, chemical, and water treatment sectors.

Tank Level Monitoring System Market Regional Outlook

The global demand for tank level monitoring systems is geographically diverse, influenced by regulatory frameworks, industrialization, and technological maturity.

North America

The region accounted for over 35% of total installations in 2024. The U.S. Environmental Protection Agency mandates leak detection and monitoring for petroleum storage tanks, spurring the deployment of more than 800,000 TLMS devices. Canada, driven by oil sands operations, added another 100,000 units in the same year.

Europe

Europe holds approximately 25% of the market share. Germany, France, and the UK are major contributors, with strong demand from the chemical, pharma, and energy sectors. In 2024, Europe deployed over 700,000 TLMS systems, with Germany alone installing 200,000 units.

Asia-Pacific

This region is the fastest-growing market, accounting for about 28% of global TLMS deployment. China, India, and Japan are key contributors. In India, over 150,000 TLMS units were used in agriculture and water management in 2024. China’s petrochemical sector added over 300,000 devices.

Middle East & Africa

Although smaller in scale, this region is rapidly modernizing its storage infrastructure. It represents about 12–15% of the global TLMS market. In 2024, Saudi Arabia and the UAE collectively installed over 120,000 systems, mainly in oil & gas operations. South Africa contributed around 60,000 systems, largely in mining.

List of Top Tank Level Monitoring System Market Companies

American Sensor Technologies (AST)
Centeron
Gauging Systems
Graco
Piusi
Pneumercator
Smartlogix
Solid Applied Technologies (Solidat)
Tank Link
Tank Scan
Varec
Digi International
Dunraven Systems

Top Two Companies with Highest Market Shares

Varec: In 2024, Varec held approximately 12% of the global market, providing radar-based tank gauging solutions to over 1,500 industrial clients, including major U.S. refineries.
Digi International: This company captured 9% of the market with its innovative wireless TLMS range. Digi deployed over 250,000 devices globally in 2024, with heavy penetration in agriculture and chemical industries.

Investment Analysis and Opportunities

Investment activity in the tank level monitoring system market has significantly accelerated over the last 24 months. Global TLMS investments were estimated at USD 1.1–1.2 billion in 2024, marking a rise of more than 200 million from the previous year. These investments are largely driven by automation upgrades, safety initiatives, and compliance with government regulations across multiple verticals. North America saw the largest investment surge, with over USD 420 million allocated toward smart tank infrastructure by petrochemical companies and logistics providers. Over 300 large facilities in the U.S. upgraded their tank monitoring infrastructure to radar or ultrasonic systems in 2024. Public funding also supported these upgrades, with over 150 grants issued by U.S. energy and environmental agencies for compliance technology improvements. Asia-Pacific also attracted major investment interest, particularly in India and China. Indian agri-tech companies invested more than USD 45 million in deploying wireless TLMS for rural water and fertilizer management. Meanwhile, China's state-owned enterprises invested over USD 160 million to modernize tank farms in oil and chemical refining zones. The emergence of Software-as-a-Service (SaaS) models is an important driver. Over 35% of TLMS customers in 2024 opted for monthly or annual software subscriptions, often bundled with AI-based analytics dashboards. Investment in SaaS and cloud platforms reached USD 210 million globally—up 23% from 2023. This shift reduced CapEx and increased system accessibility for SMEs and rural operators. Private equity and venture capital have also shown strong interest. In 2023–2024, nearly 70 TLMS startups received a combined investment of over USD 600 million globally. These startups primarily focus on wireless sensor development, blockchain data logging, and predictive maintenance platforms. Companies like LevelSens, FluidGuard, and NanoTanker raised individual rounds of USD 10–20 million, underscoring growing investor confidence in niche technologies within this domain. A new opportunity is arising in the shipping and marine logistics segment. Ports across Asia and Europe are upgrading their bulk liquid handling terminals. Over 150 port facilities worldwide announced TLMS procurement initiatives in 2024, contributing to a projected USD 95 million in new marine monitoring projects. These include integration with vessel traffic systems and automation of refueling operations. Environmental sustainability is another investment magnet. In 2024, over 180 companies introduced TLMS solutions aligned with ISO 14001 and LEED standards. Investment in green-certified tank systems was recorded at USD 170 million, focusing on reducing leaks, spills, and emissions. The market is expected to see an additional 30% growth in this sustainability segment over the next 2 years.

New Product Development

Innovation is central to the rapid evolution of the tank level monitoring system market. Between 2023 and 2024, over 200 new TLMS products were launched globally. These include wireless sensors, edge computing modules, explosion-proof radar systems, and machine learning-enabled analytics dashboards. One standout innovation is the development of hybrid radar-ultrasonic sensors, combining the strengths of both systems. These sensors offer dual-mode capabilities for high-accuracy measurement across multiple tank environments. In 2024, approximately 80,000 hybrid devices were sold, a 38% increase from 2023. Solar-powered TLMS devices also gained momentum, particularly in agriculture and remote oil fields. More than 100,000 solar-enabled systems were deployed in 2024 alone, cutting energy costs by up to 50% for end-users. Companies like Dunraven Systems and Smartlogix led this trend with ultra-low-power sensors that transmit data via LoRaWAN or GSM networks. In response to connectivity challenges, edge-computing TLMS units were introduced to process data locally when network access is unavailable. Over 60,000 edge-capable systems were deployed globally, helping reduce signal dropouts and system latency. These systems also use AI algorithms to perform anomaly detection, improving predictive maintenance accuracy by 35%. Manufacturers also released chemical-resistant TLMS models for high-corrosion environments. These devices use Teflon-coated sensor probes and sealed electronic enclosures. Over 45,000 such units were sold to chemical and food industries in 2024. New models are rated for up to 150°C and 25 bar pressure, making them suitable for specialty tanks. User-friendly mobile and desktop dashboards represent another key product development. These dashboards include 3D tank visualization, color-coded alarms, trend analytics, and API integration for ERP systems. In 2024, over 400,000 TLMS installations featured customizable dashboards—double that of the previous year. In terms of communication protocols, 5G-enabled TLMS systems debuted in early 2024. These offer ultra-low latency and rapid data transfer for high-traffic industrial zones. Initial rollout was limited, with around 25,000 systems installed, but the market expects a 200% increase in 2025 as 5G infrastructure expands. Another major advancement is blockchain-based data logging for compliance and traceability. Pilot projects across Europe used blockchain-enabled TLMS for food-grade liquid storage, ensuring tamper-proof level and quality records. By mid-2024, around 12,000 blockchain-integrated units had been installed, particularly in pharmaceuticals and cosmetics.

Five Recent Developments

Varec launched the 6000i Series radar system in Q2 2024, offering explosion-proof housing and dual-frequency scanning. Over 10,000 units were deployed in the U.S. and Gulf oil terminals within six months.
Digi International introduced its CloudLink TLMS Suite in late 2023, combining real-time monitoring with AI analytics. The system saw over 80,000 deployments globally in less than a year.
Graco expanded its production facilities in Minnesota to increase sensor output by 30%, investing USD 70 million in new manufacturing lines and automated calibration stations.
Solid Applied Technologies released the SmartSense Aqua series for municipal water tanks in March 2024. Over 40 cities in India and Brazil adopted the system in pilot programs covering 18,000 tanks.
Smartlogix partnered with a major EV manufacturer to develop TLMS for battery cooling tanks in 2024. Over 6,000 TLMS units were deployed in EV gigafactories in China and Europe.

Report Coverage of Tank Level Monitoring System Market

This comprehensive report provides detailed analysis across all major dimensions of the global tank level monitoring system market. It covers technological advancements, key trends, regional expansions, competitive landscapes, and investment strategies shaping the industry. The report spans analysis across six primary end-use sectors—oil & fuel, chemical, power plant, mining, automotive, and agriculture—offering insights into how each segment drives TLMS demand. It also dissects five core technologies, namely float & tape gauging, pressure, ultrasonic, capacitance, and radar monitoring, along with hybrid innovations. Each technology's adoption rate, installation base, and emerging use cases are evaluated. The study covers four geographic regions—North America, Europe, Asia-Pacific, and the Middle East & Africa—each examined in terms of installations, regulatory factors, and local manufacturing trends. The report identifies North America as the dominant region and Asia-Pacific as the fastest-growing, with detailed insights on country-specific drivers like U.S. compliance mandates, India’s rural modernization, and China’s chemical industry upgrades. The report presents a focused lens on new product developments, including solar-powered systems, blockchain integrations, and edge computing. Over 200 newly launched products from Q1 2023 to Q2 2024 are analyzed, with metrics such as cost, power consumption, accuracy range, and communication standards. Profiles of 13 leading companies are included, with deep dives into the top two (Varec and Digi International) based on global market share. The analysis includes product portfolios, geographical presence, recent partnerships, and deployment volumes from 2023–2024. A significant portion of the report evaluates funding patterns, M&A activity, startup ecosystem growth, and government-backed projects. The focus on SaaS, sustainability, and rural deployment trends provides a forward-looking view of where investment is likely to flow in 2025–2026. This report is intended for use by OEMs, system integrators, utilities, logistics firms, agri-tech enterprises, government agencies, and investors. It provides benchmark data and reference points to support procurement decisions, partnership strategies, product innovation, and market entry planning.