Pressure Transmitter Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

Posted May 25, 2022 by asmitapatil77

Pressure Transmitter Market by Sensing Technology, Type (Absolute, Gauge, Differential Pressure, and Multivariable), Fluid Type (Liquid, Gas, and Steam), Application (Level, Pressure, and Flow), Industry and Region
The global pressure transmitter market size is expected to grow from USD 2.9 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 3.6%. The growth of the pressure transmitter market can be attributed to the growing necessity for implementation of industrial automation across process industries and increasing importance of predictive maintenance and real-time data analysis. However, complexity in installation of pressure transmitters, lack of skilled workforce, and increasing necessity for frequent upgrades are some of the restraints and challenges for the market.

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The pressure transmitter market is witnessing steady growth owing to several factors including government initiatives to boost productivity of food & beverage industry in Europe and increasing water desalination infrastructure in the Middle East. Increasing potential of mining industry in Africa and rapidly growing chemical industry in Asia Pacific, especially China, are key factors for growth of pressure transmitter market in these regions.

Based on type, the pressure transmitter market is segregated into absolute, gauge, differential pressure, and multivariable pressure transmitters. The differential pressure transmitter segment held the largest share of the market in 2021 and gauge pressure transmitter segment held the second-largest share. Differential pressure transmitter are the most widely used pressure measurement instrument in oil & gas industry owing to their usage in multiple applications like drilling, rigging, onshore and offshore applications, and wellhead applications for monitoring and controlling. They also find extensive use in chemical industry owing to technological enhancements rendering them applicable even in extreme environments such as in aggressive media.

Based on fluid type, the pressure transmitter market is segregated into liquid, gas, and steam. Measurement of liquids held the largest share of the market and is expected to register the highest growth during the review period. Pressure transmitters used for liquid level measurement can be classified into standard and submersible pressure transmitters. For measurement of level and pressure of liquids, pressure transmitters are widely used in tanks in food & beverage industry and for water level measurement in pumping stations in water & wastewater industry. Pressure transmitters, that are intrinsically safe and certified to work in explosion prone/hazardous areas, are commonly used for measurement of hydrocarbon liquids in the oil & gas industry.
Based on application, the pressure transmitter market is segregated into level, pressure, and flow. The level measurement application segment held the largest share of the market and is expected to register the highest growth during the review period. The pressure of any liquid is determined by multiplying the vessel’s height with specific gravity. Pressure transmitter can be either entirely submerged inside the liquid (termed a hydrostatic level transmitter) or mounted externally on the side or bottom to measure the difference in pressure between the top and bottom of the tank. Pressure transmitters are commonly used for level measurement depending on the nature of applications, such as submersible, intrinsically safe, explosion-proof, and differential pressure type of pressure. In addition, level measurement can be done either by direct measurement or by using remote seals. It can also be done inside either open or closed containers that normally use gauge and differential pressure transmitters, respectively, for level measurement. High reliability and accuracy are key factors promoting the increasing number of adoption of pressure transmitters for level measurement applications.

Based on industry, the pressure transmitter market is segregated into oil & gas, chemical, water & wastewater treatment, food & beverage, pulp & paper, power, metals & mining, pharmaceutical, and others. The oil & gas industry held the largest share of the market while the water & wastewater treatment industry is expected to grow at the highest rate during the review period. In oil & gas industry, pressure transmitters find multiple applications during drilling and exploration applications, in wellhead monitoring applications, in onshore and offshore exploration applications, and in rig safety applications. In water & wastewater industry, pressure transmitters are widely used in pumping stations, sewage feeds, and in storage and filtration tanks for variety of applications such as pressure and level measurement.

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The pressure transmitter market is segmented into four regions, North America, Europe, Asia Pacific, and Rest of the World (RoW). In 2021, North America held the largest share of the pressure transmitter market with only the US capturing almost 25% of the overall market. North America is witnessing high investments in energy infrastructure development to meet the growing demand for oil & gas which in turn is propelling the demand for industrial automation solutions, including increased adoption of pressure transmitters. Additionally, the increasing number of industrial wastewater treatment and publicly owned treatment works (POTW) is an important reason for the rising adoption of field instruments in the water & wastewater treatment industry in the region for real-time and efficient monitoring of pressure, level, flow, and other process parameters.
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Last Updated May 25, 2022