Global Pressure Transmitter Market Size Insights Forecasts to 2032
- The Global Pressure Transmitter Market Size was valued at USD 2.91 Billion in 2022.
- The Market Size is Growing at a CAGR of 4.7% from 2022 to 2032.
- The Worldwide Pressure Transmitter Market is expected to reach USD 4.63 Billion By 2032.
- North America is expected to grow the fastest during the forecast period.
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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.
A pressure transmitter, commonly referred to as a pressure transducer, is an instrument with mechanical components used to gauge the expansion pressure of a liquid or gaseous material. This particular type of sensor is often made up of a pressure sensitive surface area fabricated from steel, silicon, or a different material that varies with the composition of the sample. Physical pressure is converted into an electrical signal that is transmitted via the transmitter. The electrical output can be utilized for depicting the pressure measurement on a display or it may be transmitted to a controller, PLC, or data collecting system for analysis. This pressure measurement has a wide range of applications, including fluid control, fluid monitoring, and air pressure measurement. Pressure transmitters are utilized in an extensive selection of uses where measurement repeatability and precision are highly important. Pressure transmitters are commonly used in the following kinds of industrial applications such as pressure measurement and control, monitoring and display of important operations, fluid circulation gauges, process safety, leak detection, and pump control systems, among others. One of the primary reasons fuelling market expansion is the increasing adoption of automation for industrial streamlining. The incorporation of electronic interfaces, which provide remote validation and analysis, is increasingly replacing conventional pressure transmitters. Furthermore, the pressure transmitter market is expected to be driven by additional factors, such as rising investments in the energy sector and increased uptake of technologically improved alternatives for decreasing human error throughout the forecast period
Global Pressure Transmitter Market Report Coverage
|Market Size in 2022:||USD 2.91 Billion|
|Forecast Period 2022-2032 CAGR:||4.7%|
|2032 Value Projection:||USD 4.63 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||COVID-19 Impact Analysis, By Type, By Fluid Type, By Application, By Industry Verticals, and By Region|
|Companies Covered:||Emerson, ABB, Schneider Electric, Yokogawa, Endress+Hauser, Fuji Electric, Danfoss, Hitachi, Siemens, Honeywell, WIKA Instruments, Omega Engineering, Inc., Dwyer Instruments, SensorONE Ltd., and Other key Venders.|
|Pitfalls & Challenges:||COVID-19 Empact,Challenges, Future, Growth, & Analysis|
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The increased emphasis on manufacturing machinery automation to optimize the utilization of resources and real-time processing of data for automated maintenance prediction is driving the market growth. The growing scope of the manufacturing sector, as well as the incorporation of the Industrial Internet of Things (IIoT) and technological advances from Industry 4.0, are additionally driving up demand for pressure transmitters. The rising application of automation throughout different industries, such as oil & gas, chemical, and healthcare, to improve productivity as well as decrease expenditures, are driving the pressure transmitter market. Pressure transmitters continuously track and regulate pressure levels in diverse processes in real-time, enabling secure and productive functioning.
Industrial automation solutions save work, waste, and labor expenses by eliminating human error, minimizing delay and discrepancies, increasing process quality, and decreasing reaction and execution time. Pressure transmitters track and accumulate essential data to boost production quality, identify trends, and implement adjustments to avoid future incidents, which improves manufacturing process efficacy, reduces maintenance requirements, and increases total efficiency. As the correct level measurement is essential for sustaining quality and safety requirements in numerous verticals, the demand for precise and dependable pressure measurement in downstream applications is an additional major driver in the pressure transmitter market.
By Type Insights
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. In the oil and gas sector, differential pressure transmitters are the majority of frequently utilized pressure transmitters for flow, level, and pressure measurement applications, which are crucial for the oversight and management of processes. Differential pressure transmitters, which can be built on any pressure sensing technology, are used in the aforementioned industries for level monitoring and flow estimation using basic components like orifice plates, venturi tubes, flow nozzles, low-loss flow tubes, and pitot tubes, among others.
By Fluid Type Insights
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. Gauge and pressure differential transmitters are commonly employed for measuring the hydrostatic (resting pressure) level of liquids in storage containers, as well as to monitor the level of groundwater equipment.
By Application Insights
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. Furthermore, the affordable price, user-friendly technology, minimal upkeep owing to no moving parts, and small design of transmitters represent a few of the significant advantages offered by pressure transmitters over other types of devices, resulting in a feasible option for level measuring applications.
By Industry Vertical Insights
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. Other applications include monitoring and managing fluid levels, flow, and pressure in wastewater treatment facilities. Pressure transmitters are utilized at several phases of the wastewater treatment process, including primary, secondary, tertiary, and biological.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. Rising demand from the marketplace for power, increasing chemical exports, and the emergence of commercial and utility-grade wastewater treatment facilities are likely to drive market expansion in the Asia Pacific. Furthermore, the increasing upside potential of the chemical and food and beverage industries in the Asia Pacific is among the main drivers fueling market expansion in the area. Additionally, driven by new product advancements and substantial increases in expenditure by leading players and government institutions, China is predicted to emerge as a prominent market for the pressure transmitter industry in the Asia Pacific region.
North America, on the contrary, is expected to grow the fastest during the forecast period. The expansion of the oil & gas and power production industries in North America is projected to boost pressure transmitter demand over the forecast period. Furthermore, due to higher expenditures by major vendors in developing pressure transmitters for consumer electronics and IT & telecom applications, the United States retains a leading position in the pressure transmitter market by revenue.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period, because of the growing need for energy from industrial and residential applications. During the projected period, the region's power generation sectors are anticipated to fuel the expansion of the pressure transmitter market. Germany is predicted to be the most rapidly expanding country in Europe's pressure transmitter market, with a significant CAGR, primarily because of advancements in automobile manufacturing, which stimulates the use of microelectronics in the nation. This as a result generates significant prospects for pressure transmitter market development in Germany.
List of Key Market Players
- Schneider Electric
- Fuji Electric
- WIKA Instruments
- Omega Engineering, Inc.
- Dwyer Instruments
- SensorONE Ltd.
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.
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
- Differential Pressure
Pressure Transmitter Market, Fluid Type Analysis
Pressure Transmitter Market, Application Analysis
- Flow Measurement
- Level Measurement
- Pressure Measurement
Pressure Transmitter Market, Industry Verticals Analysis
- Water & Wastewater Treatment
- Pulp & Pape
- Metals & Mining
- Food & Beverage
- Oil & Gas
Pressure Transmitter Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the Pressure Transmitter market?The Global Pressure Transmitter Market is expected to grow from USD 2.91 billion in 2022 to USD 4.63 billion by 2032, at a CAGR of 4.7% during the forecast period 2022-2032.
2. Which are the key companies in the market?Emerson, ABB, Schneider Electric, Yokogawa, Endress+Hauser, Fuji Electric, Danfoss, Hitachi, Siemens, Honeywell, WIKA Instruments, Omega Engineering, Inc., Dwyer Instruments, SensorONE Ltd.
3. Which segment dominated the Pressure Transmitter market share?The water & wastewater treatment segment in industry vertical type dominated the Pressure Transmitter market in 2022 and accounted for a revenue share of over 34.2%.
4. What are the elements driving the growth of the Pressure Transmitter market?The major driving elements include an increasing dependence on industrial automation for optimal resource use, a greater emphasis on real-time data visualization and proactive upkeep, and increasing adoption of the Industrial Internet of Things (IIoT) and Industry 4.0 solutions.
5. Which region is dominating the Pressure Transmitter market?Asia Pacific is dominating the Pressure Transmitter market with more than 38.7% market share.
6. Which segment holds the largest market share of the Pressure Transmitter market?The differential pressure segment based on type holds the maximum market share of the Pressure Transmitter market.
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