Pressure Transmitter Market to Witness the Highest Growth in Asia Pacific Region

Pressure Transmitter Market size is estimated to be USD 2.9 billion in 2022 and is projected to reach USD 3.5 billion by 2027, at a CAGR of 3.6%. Increasing production potential of process industries such as food & beverage and pharmaceutical to cater to rising consumption is driving the adoption of field instruments such as pressure transmitters and temperature sensors for increasing productivity. Additionally, need for real-time analysis of statistical inputs from different types of production processes to improve efficiency and productivity is promoting the growth of measurement and analytics instrumentation market such as of pressure transmitters and flowmeters.

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Differential pressure transmitters were the most extensively used pressure transmitters in the market in 2021

Differential pressure transmitter held the largest share (52.48%) of the overall pressure transmitter market in 2021. The market for differential pressure transmitter is expected to grow at a rate of 3.6% during the review period.

Differential pressure transmitters are the most widely used pressure transmitters for flow, level, and pressure measurement applications in the oil & gas industry, which are of utmost importance for monitoring and control of processes. Differential pressure transmitters can be based on any of the pressure sensing technologies and find their usage in level detection and flow measurement with the help of primary elements such as orifice plates, venturi tubes, flow nozzles, low loss flow tubes, and pitot tubes etc. in aforesaid industries.

Measurement of parameters of liquids held the largest share of the pressure transmitter market in 2021

The market for measurement of parameters of liquids held the largest share (77.07% of the overall market in 2021. The market for liquid measurement is expected to grow at a rate of 3.7% during the review period. In non-hydrocarbon liquids, fluid pressure and level measurement applications such as in water & wastewater applications, a submersible pressure transmitter finds wide usage. Gauge and differential pressure transmitters are widely used to measure the hydrostatic (pressure exerted at rest) level of liquids in tanks and used for water level measurement of groundwater pumps.

Oil & gas industry to hold the largest share while water & wastewater industry to grow at the highest rate

Increasing oil & gas exploration activities globally, especially in North America, owing to increasing energy demand worldwide is driving the demand for industrial automation to ensure effective utilization of resources. Hence, growing industrial automation is driving the growth of market related to field instruments such as pressure transmitters and flowmeters. Additionally, there is a rising global demand for potable water from both residential and commercial applications. Need for desalination of water, especially in the Middle East, and necessity for reusability of wastewater are driving the growth of the water & wastewater treatment industry. Hence, growth of aforesaid industry is driving the demand for pressure transmitters.

The pressure transmitter market in Asia Pacific is expected to grow significantly from 2022 to 2027

Considering the growing demand for energy and the need to reduce carbon emissions, countries in Asia Pacific are expected to lay down new pipelines. China is one of the largest chemical producers, including fertilizers, dyes, inks, and specialty chemicals. With a population of over 1.4 billion people, it is also one of the fastest-growing markets for food & beverage globally. China is considered the world's largest beer producer and has a vast market for non-alcoholic drinks. The growth of these industries in China is fueling the demand for pressure transmitters, as they are extensively used for various applications, including parameter measurement, overpressure detection, and level measurement, across these industries.

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Major companies operating in the pressure transmitter market include Emerson (US), ABB (Sweden), Schneider Electric (France), Yokogawa (Japan), Endress+Hauser (Switzerland), Honeywell (US), Siemens (Germany), Fuji Electric (Japan), Danfoss (Denmark), and Hitachi (Japan).

News also covered: https://www.prnewswire.com/news-releases/pressure-transmitter-market-worth-3-5-billion-by-2027--exclusive-report-by-marketsandmarkets-301552775.html

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This release was published on openPR.