Press release
Pressure Transmitter Market Global Industry Size, Development, Emerging Technologies Demand, Growth Analysis, Key Findings Forecast 2023
Market Overview:
The Global Pressure Transmitter Market is segmented into numerous segments of which the multivariable pressure transmitter is expected to witness high growth. This sensor has the capability to measure multiple parameters and is effective in reducing overall cost
The global Pressure Transmitter Market is segmented by type, communication protocol, sensing technology, application, and industry. By type segment, the market consists of absolute, gauge, differential pressure, and multivariable pressure transmitter. The communication protocol segment comprises, HART (Highway Addressable Remote Transducer) and wireless HART, Foundation Fieldbus, Profibus, and others. The sensing technology segment comprises of piezoelectric, capacitive, piezoresistive, strain gauge, and others. The application segment consists of flow, level, and pressure. The vertical segment comprises of oil & gas, food & beverage, water & wastewater, pulp & paper, metal & mining, chemical, power, pharmaceutical, and others.
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The latest trend in the automation pressure transmitter market is the demand for a smart and cost-efficient product that comprises of digital communication interfaces. Owing to the above-mentioned reason, the demand for traditional analog output pressure transmitters is expected to continue to decline over the forecast period. The reason for this shift in trend is the rise in digital networking facilities, thus eliminating, the need for wiring.
According to Market Research Future Analysis, the global pressure transmitter market is estimated to generate revenue of approximately USD 4 Billion by 2023 growing at a CAGR of 6% during the forecast period 2017-2023.
North America region accounts for a high share of the global pressure transmitter market in terms of value, owing to the early adoption of pressure transmitter in process industries. In Asia Pacific market, enterprises in countries such as Japan and China are mostly operating in automotive applications, which is further aiding the market growth in the region. The study indicates that the U.S. and Europe also account for significant value share in the global Pressure Transmitter market.
Key Players
Some of the prominent players in the global pressure transmitter market: 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.), and others.
Segments
The global pressure transmitter market is segmented by type, communication protocol, sensing technology, application, and industry. By type, the market consists of absolute, gauge, differential pressure, and multivariable pressure transmitters. The communication protocol segment comprises, HART (Highway Addressable Remote Transducer) and wireless HART, Foundation Fieldbus, Profibus, and others. The sensing technology segment comprises piezoelectric, capacitive, piezoresistive, strain gauge, and others. The application segment consists of flow, level, and pressure. The vertical segment comprises oil & gas, food & beverage, water & wastewater, pulp & paper, metal & mining, chemical, power, pharmaceutical, and others.
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Regional Analysis
The global pressure transmitter market is studied in Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America market is anticipated to grow at the highest CAGR in the global pressure transmitter market. Europe market accounts for the second highest share in the pressure transmitter market. Asia Pacific market is expected to grow at the highest CAGR. The rise in the number of automotive and chemical industry in the region is boosting the pressure transmitter market. Other aspects such as the development of a new project, and demand for industrial automation, to increase productivity with respect to optimized cost.
Intended Audience
• Technology Investors
• Research/Consultancy Firms
• Industrial Automation Service Providers
• System Integrator and Service Providers in Industrial Measurement Market
• Banks, Financial Institutions, Investors, and Venture Capitalists
• Technology Investors
• Governments and Financial Institutions
• Analysts and Strategic Business Planners
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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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