The pressure transmitter market size is expected to grow from USD 2.9billion in 2022 to USD 3.5billion by 2027; it is expected to grow at a CAGR of 3.6% from 2022 to 2027. The key factors driving the growth of the pressure transmitter marketare growing adoption of Industrial Internet of Things (IIoT), IO-Link, Smart Sensors, and Industry 4.0 technologies. Growing potential of process industries and rapidly increasing demand for industrial automation solutions are major factors promoting the growth of the pressure transmitter market.
Multivariable pressure transmitters expected to grow at the highest rate from 2022 to 2027
Multivariable pressure transmitters dynamically compensate for variables such as temperature and mass flow rate and offer excellent mass flow accuracy in flow applications across various industries.Multivariable transmitters help companies achieve significant savings on installation, life-cycle cost, and capital expenditure.
The multivariable pressure transmitter has widely served oil & gas, chemicals, and power industries because of the accuracy it offers in the upstream and midstream measurements with differential pressure, static pressure, and temperature measurements from single transmitter.
Measurement of liquids expected to grow at the highest rate from 2022 to 2027
The market for liquid measurement is expected to grow at a rate of 3.7% during the review period.The application of pressure transmitters for measurement of parameters of liquids is mostly used in the oil & gas industry for controlling hydraulic pressure drilling, ensuring rig safety, measuring flow line pressure, and subsea injection valves. In petrochemical industries, pressure transmitters are used to measure pressure exerted by liquefied petroleum gas (LPG), crude oil, petrol, and other petroleum byproducts.
Level measurement application expected to grow at the highest CAGR during the forecast period
The level measurement application market is expected to grow at a rate of 3.6% during the review period.Level measurement using pressure transmitter is reliable, robust, simple to install, and uninfluenced by disruptive factors such as dust, foam, vapor build-up, and contaminants. Pressure transmitters are extensively used for measurement in pressure across process industries such as in filtration and storage tanks etc. in food & beverage industry, in cleanrooms in pharmaceutical industry, in digester and dryer cylinder units in pulp &paper industry, in drilling & rig safety applications in oil & gas industry, and in detecting over-pressure conditions in nuclear power plants etc.
Oil & gas industry held the largest share of the pressure transmitter market in 2021
Pressure transmitters are extensively used for flow, level, and pressure measurement applications in the oil & gas industry, which are of utmost importance for monitoring and control of processes.Pressure transmitters are preferred across several applications in the oil & gas industry owing to the accuracy it offers in the upstream and midstream measurements with differential pressure, static pressure, and temperature measurements.
The oil & gas industry requires pressure transmitters for various process measurements during the drilling and exploration stage.
North Americaheld thelargest share of the pressure transmitter market in 2021
North America accounted for the largest share of 34.17% of the global pressure transmitter market in 2021 due to huge growth in oil & gas activities over the past decade, especially in non-conventional front. This region is also expected to sustain its position as the top market in the coming years. Emerson (US), ABB (Sweden), Honeywell (US), and Endress+Hauser (Switzerland) are some key suppliers of pressure transmitters in this region. The growth of the pressure transmitter market in North America is attributed to the huge installed base for publicly owned treatment works (POTW) and industrial wastewater treatment plants and recovery in oil & gas industry.
The break-up of the profiles of primary participants for the report has been given below:
• By Company Type: Tier 1 = 25%, Tier 2 = 35%, and Tier 3 = 40%
• ByDesignation: C-Level Executives = 35%, Directors= 25%, and Others= 40%
• ByRegion: North America = 14%, Europe = 43%, Asia Pacific = 29%, and RoW= 14%
Major players operating in the pressure transmitter market includeEmerson (US), ABB (Sweden), Yokogawa (Japan), Endress+Hauser (Switzerland), Schneider Electric (France), Siemens (Germany), Danfoss (Denmark), Fuji Electric (Japan), Honeywell (US), and Hitachi (Japan), among others.
The research report on the global pressure transmitter market covers the market based onsensing technology, type, fluid type, application, industry, and region.Based on sensing technology, the pressure transmitter market has been segmented into capacitive, piezoresistive, piezoelectric, strain gauge, and others.
Based on type, the market has been segmented into absolute, gauge, differential pressure, and multivariable.Based on fluid type, the market has been segmented into liquid, gas, and steam.
Based on application, the market has been segmented into level, pressure, and gas.Based on industry, the market has been segmented into oil & gas, chemical, water & wastewater treatment, food & beverage, power, pulp & paper, metals & mining, pharmaceutical, and others.
The report covers four major regions, namely,North America, Europe, AsiaPacific (APAC), and Rest of the World (RoW).
Key Benefits of Buying the Report:
This report segments thepressure transmitter market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different sensing technology, type, fluid type, application, industry, and regions.
The report helps stakeholders understand the pulse of the market, and expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities.
The report helps to understand the COVID-19 impact on the pressure transmitter market