The global pressure transmitter market size is expected to reach USD 3.8 billion by 2030, according to a new study by Polaris Market Research. The report “Pressure Transmitter Market Share, Size, Trends, Industry Analysis Report, By Fluid Type (Liquid, Gas and Steam); By Application; By Type; By End Use; By Regions; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The major factor affecting the market growth is the high demand for wireless transmitters & industrial automation, along with the optimum utilization of resources. In addition, technological advancements in new product launching and growing automation in manufacturing industry propel the market growth.
The adoption of pressure transmitters is greater in Asia Pacific compared to other regions. The measurement and analytics branch of the factory automation suite’s measurements & analytics division, which provides exact process measures while also enhancing safety and efficiency, includes a pressure transmitter as one of its most crucial field instruments. To increase industrial efficiency, identify patterns, and adjust prevent recurrences of incidents, pressure transmitters gather and store essential data.
The efficiency of the manufacturing process is therefore increased, maintenance expenses are decreased, and total production is increased. Industrial automation eliminates all related costs for medical care, paid time off, and vacations needed to sustain a human operator.
Additionally, technical developments that reduce human error and increase energy sector investment have a beneficial impact on the market for pressure transmitters. Additionally, in the forecast period of 2021 to 2030, the market participants would benefit from the growing demand for multivariable pressure transmitters.
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The growing chemical & beverage & food industries are other important factors driving the rise of markets.
In the first one to two months of 2020, the COVID-19 epidemic had a negative impact on the market’s expansion. Businesses operating in hard-hit nations, including the US, Germany, China, & the UK have experienced operational interruptions as a result of the epidemic, making it more difficult for them to complete their financial accounts. According to estimates, most businesses operate using the just-in-time (JIT) paradigm and are micro, small, & medium-sized businesses (MSMEs). In addition, the epidemic has disrupted the supply chain, which has cost some businesses money.
Pressure transmitter market Report Highlights
- Gas & steam accounted largest market share owing to greater use of this type of transmitter in the Oil & gas industry. In addition, they are ideal for industrial process control and industrial gases.
- According to application segmentation, flow is expected to have the highest market share in 2021. This type has been used in level detection and flows measurement with the help of flow nozzles and flow tubes.
- Multivariable was the biggest revenue-generating type segment in 2021, according to type segmentation.
- Asia Pacific was the top income producer by region in 2021. Due to growing energy consumption, increased chemical exports, and the building of industrial- & utility-grade wastewater treatment facilities, pressure transmitter sales are expected to rise in the Asia Pacific area.
Polaris Market Research has segmented the pressure transmitter market report based on fluid type; application; type; end-use; region:
Pressure transmitter, Fluid Type Outlook (Revenue – USD Billion, 2017 – 2030)
- Gas and Steam
Pressure transmitter, Application Outlook (Revenue – USD Billion, 2017 – 2030)
Pressure transmitter, Type Outlook (Revenue – USD Billion, 2017 – 2030)
- Differential Pressure
Pressure transmitter, End-Use Outlook (Revenue – USD Billion, 2017 – 2030)
- Gas & Oil
- Treatment of Water and Wastewater
- Paper & Pulp
- Mining & Metals
- Food and Beverage
Pressure transmitter, Regional Outlook (Revenue – USD Billion, 2017 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa