Press release
Pressure Transmitter Market is projected to grow at CAGR of 43% by 2023 | Top Key Leader by Yokogawa Electric, Endress+Hauser, ABB Ltd, Honeywell International, Siemens AG, General Electric
Market Overview:
Pressure transmitters are used to measure pressure or level of industrial liquids and gases by converting pressure into an analog electrical signal. Pressure transmitters are also known as pressure sensors. As per the report published by Market Research Future (MRFR), the global pressure transmitters market is anticipated to expand remarkably at a CAGR of 43% during the forecast period of 2017-2023.
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Key Players:
The prominent players that are profiled by MRFR in the report on the global pressure transmitter market are Emerson Electric Company (the U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (the U.S.), Siemens AG (Germany), General Electric (the U.S.), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), Dwyer Instruments, Inc. (the U.S.), and others.
Market Drivers and Restraints:
The development of mini solid-state pressure-sensing devices due to the advancement in integrated circuit technology has overpowered the bulky size of pressure transmitters. Increasing demand for compact automation pressure transmitters that are equipped with digital communication interfaces in various industries and power plants is propelling the growth of the global pressure transmitters market.
The advanced features that are introduced with the incorporation of advanced technology such as remote calibration, self-calibration and ranging, and self-diagnostics are impacting positively on the expansion of the global pressure transmitters market.
The increasing adoption of digital networking in various industrial sectors is inducing demand for automated Pressure Transmitters Market in the global market, resulting in the significant expansion of the global pressure transmitters market. Stringent regulatory framework regarding the safety measures in industrial machineries is propelling the growth of the global pressure transmitters market. Increasing utilization of pressure transmitters in industrial and automotive applications is impacting positively on the growth of the global pressure transmitters market. However, the high maintenance cost of pressure transmitters is likely to restrain the growth of the global pressure transmitters market during the forecast period.
Market Segmentation:
The global pressure transmitter market has been segmented on the basis of type, communication protocol, sensing technology, application, and industry. Based on type, the pressure transmitter market has been segmented into absolute, gauge, differential pressure, and multivariable pressure transmitters. Based on communication protocol, the pressure transmitter market has been segmented into HART (Highway Addressable Remote Transducer) and wireless HART, Foundation Fieldbus, Profibus, and others.
Based on sensing technology, the pressure transmitter market has been segmented into piezoelectric, capacitive, piezoresistive, strain gauge, and others. Based on application, the pressure transmitter market has been segmented into flow, level, and pressure. Based on vertical, the pressure transmitter market has been segmented into oil and gas, food and beverage, water and wastewater, pulp and paper, metal and mining, chemical, power, pharmaceutical, and others.
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Regional Analysis:
Geographically, the global pressure transmitters market is segmented into four major regions such as Asia Pacific, North America, Europe and the rest of the world. The North America region is anticipated to account for the largest share in the global pressure transmitters market owing to the high demand for automation pressure transmitters for industrial and automotive applications in this region. The pressure transmitters market in the Europe region accounts for the second largest share in the global pressure transmitters market owing to the increasing number players in the automotive industry in this region. The Asia Pacific region is projecting significant growth in the global pressure transmitters market during the forecast period.
Industry Updates:
In September 2018, VEGA, a leading manufacturer of sensors, instruments and transmitters, has launched VEGADIF 85, a differential pressure transmitter developed especially for extra functional safety. This transmitter also offers economic efficiency and installation with low space requirements.
In September 2018, Keller AG, a leading system manufacturer for design sliding systems, has launched its new series of pressure transmitters named '33X and 35X.' These transmitters are equipped with various assets such as floating measurement cell, digital signal processing, highly dynamic microprocessor and compensation with mathematical accuracy.
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Pune – 411028
Maharashtra, India
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Mail: sales@marketresearchfuture.com
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