Press release
Pressure Transmitter & Transducer Market Impact of COVID-19 Outbreak on Business Opportunities and Future Scope till 2026 | Spectris PLC, Hitec Products, Inc., LCM Systems Limited, WIKA Instruments, LP
The Pressure Transmitter & Transducer Market research report 2021 provides a basic overview of the industry including definitions, classifications, applications, and industry chain structure. The Pressure Transmitter & Transducer market report provides information regarding market size, share, trends, growth, cost structure, Pressure Transmitter & Transducer market competition landscape, market drivers, challenges and opportunity, capacity, revenue, and forecast 2026.The report delivers a comprehensive overview of the crucial elements of the market and elements such as drivers, current trends of the past and present times, supervisory scenario & technological growth. This report also includes the overall and comprehensive study of the Pressure Transmitter & Transducer market with all its aspects influencing the growth of the market. This report is an exhaustive quantitative analysis of the Pressure Transmitter & Transducer industry and provides data for making strategies to increase market growth and effectiveness. The report covers the post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The Pressure Transmitter & Transducer Market is expected to register a CAGR of 4.1% over the forecast period from 2021 to 2026.
The report presents the market competitive landscape and a corresponding detailed analysis of the major vendors/key players in the market. Top Companies in the Global Pressure Transmitter & Transducer Market: Spectris PLC, Hitec Products, Inc., LCM Systems Limited, WIKA Instruments, LP, Zemic Group, ABB Ltd, Sensata Technologies, Inc, Emerson Electric Co., Yokogawa Electric Corporation, Honeywell International Inc., TE Connectivity Ltd, OleumTech Corporation, and others.
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Key Market Trends
Medical is Expected to Hold a Significant Market Share.
- Reliable hemodynamic and cardiovascular data is essential to measure the criticality of the patients. Pressure transducers are used to continuously relay blood pressure information from a pressure monitoring catheter (arterial line, central venous pressure line, or other pressure monitoring products) to the patient's monitoring system. This is a mission-critical application since a wrong reading can be fatal for the patient. This integration assures a very high degree of robustness and reliability. It also enables ease of use and space-saving that is much needed in Intensive Care Units and Operating Rooms.
- All medical waste must be compulsorily sterilized before it can enter municipal sewage and trash systems. Steam sterilizers, or autoclaves, are widely used for sterilization of medical instruments and the predisposal treatment of medical waste. Pressure transducers are critical to this process. Hospital steam sterilizers used in medical applications require that pressure transducers be compatible with high-pressure steam and biological contaminants. Pressure transducers engage in monitoring the pressure inside the sterilization chamber for regulation of steam quality. With the IoT connected devices riding, the adoption rate of smart pressure transducer will follow the same trend owing to its smart characteristics.
North America is Expected to Hold a Significant Market Share.
- North America is expected to hold a significant share of the market. The industrial development has been massive in the United States regions. The introduction of Industry 4.0 has to lead to an ecosystem that consists of multiple connected devices. Due to the increased competition in the industrial sector in the United States, special attention is given to achieve high-performance efficiencies to achieve optimization and reduce performance failures. The rising trend in the market is the introduction of a smart product portfolio with digital communication interfaces. This is expected to increase the adoption rates substantially. Other benefits will automatically become available with the inclusion of intelligence in the transmitters such as self-calibration, remote calibration and ranging, and self-diagnostics.
Recent developments in the market are –
- June 2020 - ABB Ltd agreed to acquire K-TEK Corp., a supplier of magnetic level gauges, magnetostrictive level transmitters and laser level transmitters. K-TEK will merge the Measurement Products business segment within ABBs Process Automation division. K-TEK offers a wide range of level detection instruments, which includes pressure and temperature switches.
- January 2020 - WIKA USA announced that AWC, Inc has been appointed as the exclusive representative for WIKAs electrical temperature, flow, and level products in Louisiana, Southern Arkansas, and Western Mississippi. AWC, Inc will continue to promote and inventory WIKA mechanical pressure and temperature products to distribute to their existing and new customers.
What are the market factors that are explained in the report?
- Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
- Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
- Analytical Tools: The Pressure Transmitter & Transducer Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. Analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
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Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
If you have any questions about any of our “Pressure Transmitter & Transducer Market Report” or would like to schedule a personalized free demo of the Pressure Transmitter & Transducer market report, please do not hesitate to contact me at irfan@marketinsightsreports.com.
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