New York, United States, Nov. 13, 2023 (GLOBE NEWSWIRE) -- The Global Pressure Transmitter Market Size is expected to reach USD 4.63 Billion By 2032, at a CAGR of 4.7% during the forecast period 2022 to 2032.
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A pressure transmitter, also known as a pressure transducer, is a mechanical instrument used to measure the expansion pressure of a liquid or gaseous medium. This type of sensor is frequently composed of a pressure sensitive surface area produced from steel, silicon, or a different material that varies depending on the sample's composition. Fluid control, fluid monitoring, and air pressure measurement are just a few of the uses for this pressure measurement. Pressure transmitters are used in a wide range of applications where measurement repeatability and precision are critical. The increasing adoption of automation for industrial streamlining is one of the major factors driving market expansion. Moreover, the pressure transmitter market is likely to be pushed by additional factors such as rising energy sector investments and higher adoption of technologically superior options for reducing human error over the forecast period. The rising emphasis on manufacturing machinery automation to maximize resource efficiency and real-time data processing for automated maintenance prediction is propelling market expansion. Pressure transmitter demand is also being driven up by the expanding breadth of the manufacturing sector, as well as the incorporation of the Industrial Internet of Things (IIoT) and technological breakthroughs from Industry 4.0.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the, “Global Pressure Transmitter Market Size, Share, and COVID-19 Impact Analysis, By Type (Absolute, Gauge, Differential Pressure, Multivariable), By Fluid Type (Liquid, Gas, Steam), By Application (Flow Measurement, Level Measurement, Pressure Measurement, Others), By Industry Verticals (Water & Wastewater Treatment, Chemical, Power, Pulp & Paper, Metals & Mining, Food & Beverage, Oil & Gas, Pharmaceutical, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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The differential pressure segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global pressure transmitter market is segmented into absolute, gauge, differential pressure, and multivariable. Among these, the differential pressure segment is dominating the market with the largest revenue share of 48.6% over the forecast period. Differential pressure transmitters are the most often used pressure transmitters in the oil and gas industry for flow, level, and pressure monitoring applications, which are critical for process oversight and management.
The liquid segment is witnessing significant CAGR growth over the forecast period.
On the basis of fluid type, the global pressure transmitter market is segmented into liquid, gas, and steam. Among these, the liquid segment is witnessing significant CAGR growth over the forecast period. A submerged pressure transmitter is widely used in non-hydrocarbon liquids, fluid pressure, and level measuring applications such as water and wastewater applications.
The level measurement segment is expected to hold the largest share of the global pressure transmitter market during the forecast period.
Based on the application, the global pressure transmitter market is divided into flow measurement, level measurement, pressure measurement, and others. Among these, the level measurement segment is expected to hold the largest share of the global pressure transmitter market during the forecast period. Pressure transmitters are frequently utilized for measuring levels in fuel tanks, chemicals, petrochemicals, water and wastewater, and a variety of different industrial sectors.
The water & wastewater treatment segment accounted for the largest revenue share of more than 34.2% over the forecast period.
On the basis of industry vertical, the global pressure transmitter market is segmented into water & wastewater treatment, chemical, power, pulp & paper, metals & mining, food & beverage, oil & gas, pharmaceutical, and others. Among these, the water & wastewater treatment segment is dominating the market with the largest revenue share of 34.2% over the forecast period. Pressure transmitters are utilized in the water and wastewater treatment sector all over the globe in pumping facilities, chemical feeds, sewage systems, wet wells, filtration plants, storage, and mixing vessels.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. Rising electricity consumption, increased chemical exports, and the establishment of commercial and utility-grade wastewater treatment facilities are expected to fuel market expansion in the Asia Pacific. Furthermore, the increased upside potential of the Asia Pacific chemical and food and beverage sectors is one of the primary drivers driving market expansion in the region. On the other hand, North America is predicted to expand the fastest during the forecast period. Over the projection period, the expansion of the oil and gas and power production industries in North America is expected to enhance pressure transmitter demand.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the Market. Major vendors in the Global Pressure Transmitter Market include Emerson, ABB, Schneider Electric, Yokogawa, Endress+Hauser, Fuji Electric, Danfoss, Hitachi, Siemens, Honeywell, WIKA Instruments, Omega Engineering, Inc., Dwyer Instruments, SensorONE Ltd., and others.
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Key Market Developments
- On May 2023, Dwyer Instruments announces the Series IDPT, a water-resistant industrial differential pressure transmitter with highly stable accuracy for long service life in most industrial applications. The Series IDPT has a consistent accuracy even at low ranges, assisting in the maintenance of process quality and the elimination of downtime.
- On January 2022, Danfoss has introduced the DST P650 pressure transmitter. The DST P650 is equipped with a sophisticated and scalable diagnostics platform and is intended for use in severe settings.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Pressure Transmitter Market based on the below-mentioned segments:
Pressure Transmitter Market, Type Analysis
- Absolute
- Gauge
- Differential Pressure
- Multivariable
Pressure Transmitter Market, Fluid Type Analysis
- Liquid
- Gas
- Steam
Pressure Transmitter Market, Application Analysis
- Flow Measurement
- Level Measurement
- Pressure Measurement
- Others
Pressure Transmitter Market, Industry Verticals Analysis
- Water & Wastewater Treatment
- Chemical
- Power
- Pulp & Pape
- Metals & Mining
- Food & Beverage
- Oil & Gas
- Pharmaceutical
- Others
Pressure Transmitter Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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