Pressure Transmitters Market Research Report - Forecast to 2030

Pressure Transmitter Market: By Type (Absolute), Communication Protocol (Hart And Wireless Hart), Sensing Technology (Piezoelectric), Application (Flow, Level), Vertical (Oil & Gas) – Forecast Till 2030

ID: MRFR/SEM/4212-HCR | 100 Pages | Published By Aarti Dhapte on March 2023         

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Pressure transmitters Market

The Global Pressure Transmitters Market is expected to grow at a CAGR of 3.60% by the end of the forecast period 2022-2030

Segmentation
By Type Absolute Gauge Differential Pressure Multivariable Pressure Transmitters
By Communication Protocol Hart Wireless Hart Foundation Fieldbus Profibus
By Sensing Technology Piezoelectric Capacitive Piezoresistive Strain Gauge
By Application Flow Level Pressure
By Vertical Oil & Gas Food and Beverage Water and Wastewater Pulp and Paper Metal and Mining Chemical Power Pharmaceutical
Key Players
Companies Profiled   Emerson Electric Company (U.S.)    Yokogawa Electric Corporation (Japan)    Endress+Hauser AG (Switzerland)    ABB Ltd. (Switzerland)    Honeywell International Inc. (U.S.)    Siemens AG (Germany)    General Electric (U.S.)    Schneider Electric SE (Germany)    WIKA Alexander Wiegand SE & Co. KG (Germany)    Dwyer Instruments Inc. (U.S.)
Drivers
Market Driving Forces   The requirement to optimize resources and improve cost safety and security are driving the expansion    It is enhancing efficiency and optimizing manufacturing processes
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Pressure Transmitter Market Size and Overview


Globally, the size of Pressure Transmitters Market is expected to reach USD 3.5 Billion during the forecast period 2022-2030 at a CAGR of 3.60% driven by the increasing demand for automation across all process sectors, as well as the requirement to optimize resources and improve cost, safety, and security, are driving the expansion of the Market Trends


Sensors that monitor the pressure or level of industrial liquids and gases are known as pressure transmitters. They are used in many industries, including food and beverage, chemicals, and automobiles. In the automotive sector, pressure sensors are generally used for engine control. Sensors that create analog or digital signals based on the amount of pressure applied to liquids or gases are known as pressure transmitters. Pressure transmitters combine an electronic amplifier and a pressure transducer into a single unit, allowing for the transmission of measured data over long distances without the introduction of electrical noise or a loss of accuracy. The Pressure Transmitters Industry gathers signals that typically adhere to a 4-20 mil-ampere standard for usage in process automation businesses. In the food and beverage, chemical, and automotive industries, pressure transmitters are used in a variety of ways.


In industries where new technological possibilities are being exploited, digitization is becoming increasingly important. So far, the focus has been on data collection and enhanced control monitoring. A new sector of advanced control systems is currently emerging, presenting new commercial potential. This has encouraged the Pressure Transmitters Industry and Pressure Transmitters Market Growth.


COVID 19 Analysis


The ongoing COVID-19 worldwide pandemic has created a serious and urgent public health emergency all over the planet. To manage the pandemic on a local level, many governments have proclaimed restrictive measures such as lockdowns and stay-at-home orders. Some countries have mostly reopened their economies, while others are still combating the virus, and yet others are resorting to closures in the aftermath of future waves. A drop in commodity prices has impacted certain developing countries at the same time, adding to economic and fiscal pressures. Policymakers must therefore be sensitive to the demands of their individual countries while collaborating worldwide. As a result of the COVID-19 pandemic, demand for ventilators, oxygen concentrators, and respiratory devices has increased, as these devices are utilized to help COVID-19 patients with breathing problems and low blood oxygen levels. The need for flow sensors, which are utilized in these devices, has risen as a result of the unexpected surge in Pressure Transmitters Market Share. The downsizing of sensors and the introduction of MEMS technology have expanded the range of applications for pressure sensors, driving up Pressure Transmitters Market Opportunities.


Pressure Transmitters Market Dynamics



  • Drivers


The increasing demand for automation across all process sectors, as well as the requirement to optimize resources and improve cost, safety, and security, are driving the expansion of the Pressure Transmitters Market Trends. Pressure transmitters are likely to be used in the power, chemical, water, and pharmaceutical industries and it will increase the Pressure Transmitters Market Share. Furthermore, the market is being fueled by the desire for automation in the process sectors to eliminate human errors. In industrial automation and process control, monitoring and maintaining process parameters at appropriate levels is crucial. Across a variety of process industries, industrial automation lowers operational costs, enhances product quality, boosts productivity, and addresses industrial health and safety. Both the discrete and process industries have boosted their efforts to implement best practices to decrease waste and improve plant efficiency. Using factory floor data, such as real-time production data, to make better business and operational choices is the way forward for enhancing efficiency and optimizing manufacturing processes of the Pressure Transmitters Industry.



  • Restraints


Oil consumption, or demand, has been constantly increasing. There was a bit of an aggressive trend in oil output, but oil prices quickly dropped. However, as oil output rose in the future, oil prices initially dipped and then recovered. Prices have risen as a result of the Organization of Petroleum Exporting Countries (OPEC) countries' trimming of production efforts, which has resulted in production not meeting demand. Because pressure transmitters are widely employed in the oil and gas industry, any occurrence in the global petroleum market will have an impact on the Pressure Transmitters Market Size. Pressure transmitters are widely used in the oil and gas industry to measure process parameters such as pressure, level, and flow, so fluctuations in crude oil prices will have a significant impact on the Pressure Transmitters Market Analysis.



  • Technology Analysis


In multi-sensing technology, the multivariable pressure transmitter is a noteworthy advancement. The mass flow is measured and calculated as a function of temperature, absolute pressure, and differential pressure via multivariable transmitters. As a result, it's used whenever differential pressure flow measurement necessitates temperature and pressure adjustment. Its key advantage is that it eliminates the need for many transmitters and a mass flow calculator in the field. The use of a single device rather than multiple devices minimizes the installation and maintenance expenses while also providing effective process knowledge. Multivariable transmitters use integrated sensors, microprocessor technology, and dynamic flow compensation to give the most precise and consistent flow measurement and provide better Pressure Transmitters Market Trends. The transmitters help to improve product production, process efficiency, and plant safety while cutting the total cost of ownership dramatically. As a result, the multivariable pressure transmitters' combined benefits are predicted to create significant growth opportunities for Pressure Transmitters Market Growth.


Segment Overview


The Pressure Transmitters Market Analysis has been bifurcated into various segments that will help the market to achieve the highest CAGR during the Pressure Transmitters Market Forecast period. The Pressure Transmitters Market Segments are as follows:


Based on the Type



  • Absolute

  • Gauge

  • Differential Pressure

  • Multivariable Pressure Transmitters


Based on the Communication Protocol



  • HART (Highway Addressable Remote Transducer)

  • Wireless HART

  • Foundation Fieldbus

  • Profibus

  • Others


Based on the Sensing Technology



  • Piezoelectric

  • Capacitive

  • Piezoresistive

  • Strain Gauge

  • Others


Based on the Application



  • Flow

  • Level

  • Pressure


Based on the Vertical



  • Oil and Gas

  • Food and Beverage

  • Water and Wastewater

  • Pulp and Paper

  • Metal and Mining

  • Chemical

  • Power

  • Pharmaceutical

  • Others


Based on the Region



  • Asia-Pacific (APAC)

  • Europe

  • North America

  • Rest of the World (RoW)


Regional Analysis


Asia Pacific, North America, Europe, and the Rest of the World are all investigated in the worldwide Pressure Transmitters Market Forecast. The North American market for pressure transmitters is expected to develop at the fastest rate in the global market. The European market for pressure transmitters has the second-largest share. The region of Asia Pacific is predicted to grow at the fastest rate. The Pressure Transmitters Market Opportunities are being boosted by the growth of the automotive and chemical industries in the region. Other factors include the creation of a new project and the requirement for industrial automation to boost production while keeping costs down. Several consumer sectors in APAC have been affected by rising population and urbanization. The pressure transmitter market in APAC is predicted to increase due to the rising market need for power, increasing chemical exports, and the construction of industrial and utility-grade wastewater treatment plants, among other factors.


Competitive Landscape


The market for pressure transmitters and transducers is very competitive, with a large number of players, resulting in a fragmented market. In terms of market share, no single player currently controls the majority of the market. To achieve a competitive advantage, manufacturers are pursuing mergers and acquisitions as well as new improvements. Major key players of the Pressure Transmitters Market are Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Siemens AG (Germany), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), Dwyer Instruments, Inc. (U.S.), General Electric (U.S.), and others.


Recent Developments



  • K-TEK Corp., a supplier of magnetic level gauges, magnetostrictive level transmitters, and laser level transmitters, has agreed to be acquired by ABB Ltd. The Measurement Products business segment of K-TEK will be merged with ABB's Process Automation division. Pressure and temperature switches are among the level sensing instruments offered by K-TEK.

  • WIKA USA has designated AWC, Inc as its sole representative in Louisiana, Southern Arkansas, and Western Mississippi for WIKA's electrical temperature, flow, and level products. WIKA mechanical pressure and temperature products will continue to be promoted and stocked by AWC, Inc for distribution to existing and new clients.

  • With the introduction of the EJAC60E sanitary adapter system, Yokogawa added to its DPharp EJA family of differential pressure transmitters. The EJAC60E is equipped with a fluid-free pressure sensor, which eliminates the possibility of contamination of the process fluid.

  • WIKA USA has designated AWC, Inc as its sole representative in Louisiana, Southern Arkansas, and Western Mississippi for WIKA's electrical temperature, flow, and level products. WIKA mechanical pressure and temperature products will continue to be promoted and stocked by AWC, Inc for distribution to existing and new clients.


Report Overview


The study provides a thorough analysis of the market. It provides this through in-depth qualitative insights, historical data, and credible market size predictions. The report's estimates are based on a well-established research methodology and assumptions. As a result, the research study serves as a repository of market analysis and data for all aspects of the market. In addition, the research examines market drivers, constraints, and technology analysis in the Pressure Transmitters Market. In respect to the quantitative features of these marketplaces, the research also addresses qualitative aspects.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 3.5 Billion
  CAGR   3.60% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Type, By Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), Dwyer Instruments, Inc. (U.S.)
  Key Market Opportunities   The factors driving the growth of the pressure transmitter market consist of increasing demand for automation across all process industries, need for optimizing resources, and improving cost, safety, and security.
  Key Market Drivers   The requirement to optimize resources and improve cost, safety, and security, are driving the expansion


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Frequently Asked Questions (FAQ) :

The Global Pressure Transmitters Market is expected to grow at a CAGR of 3.60% by the end of the forecast period in 2030.

North America is expected to have the highest market share for Global Pressure Transmitters Market during the forecast period.

The major key players of the Pressure Transmitters Market are Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Siemens AG (Germany), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), Dwyer Instruments, Inc. (U.S.), General Electric (U.S.), and others.