Press release
Pressure Gauge Market Report 2023: Global Size, Share & Forecast till 2028
Pressure Gauge Market
The global pressure gauge market size reached US$ 879.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,100.6 Million by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
A pressure gauge is a precision instrument used to measure the force applied per unit area on a confined fluid or gas. It quantifies the pressure within a system and provides an accurate reading of the force exerted on the sensing element of the gauge due to the internal force of the medium. It offers precise and reliable pressure measurements and can detect small pressure changes, which allows for fine-tuning. It is available in analog and digital formats, requires minimal installation time, and can be integrated into different systems and setups. It facilitates continuous monitoring of pressure for optimal process control, helps prevent overpressure situations, and safeguards equipment and processes. It aids in detecting potential issues early, reducing downtime, and optimizing energy usage by maintaining appropriate pressures. It is widely used across residential and commercial spaces to regulate pressure in heating, ventilation, and air conditioning (HVAC) setups. It is also utilized to regulate pressures in pipelines, refineries, and drilling operations and maintain optimal pressure in water treatment plants. Besides this, it assists scientists in conducting experiments involving pressure changes.
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Global Pressure Gauge Market Trends and Drivers:
The increasing construction and renovation activities of buildings across the globe represent one of the key factors catalyzing the demand for pressure gauges for monitoring and managing pressure in construction, HVAC, and plumbing systems. Apart from this, the rise of Industry 4.0 and automation is driving the demand for pressure gauges to ensure precise control and monitoring of processes in manufacturing plants. Furthermore, the increasing adoption of pressure gauges by different industry verticals to optimize energy usage by maintaining accurate pressure levels and reducing wastage and costs is positively influencing the market. Along with this, the implementation of several environmental regulations in various industries is driving the adoption of pressure gauges to prevent leaks and overpressure events that can lead to environmental harm. Furthermore, the rising need for pressure gauges in the healthcare industry for monitoring and controlling pressure in various medical applications is contributing to the market growth. Moreover, the expansion of oil and gas exploration activities is catalyzing the demand for robust pressure gauges for safe and efficient pressure management in drilling and extraction operations. Besides this, the shift towards digital pressure gauges with the Internet of Things (IoT) capabilities is enabling real-time data monitoring and remote management and enhancing efficiency and predictive maintenance. In addition, the increasing reliance of the automotive industry on pressure gauges for monitoring tire pressure, emissions, and fuel systems is creating a positive outlook for the market. Furthermore, the rising focus on water conservation and treatment is promoting the use of pressure gauges in water distribution networks and wastewater treatment plants.
Global Pressure Gauge Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: AMETEK Inc., Badotherm, CIRCOR International Inc., Crane Co., Dwyer Instruments Inc., Emerson Electric Co., Fluke Corporation (Fortive Corporation), Honeywell International Inc., Newbow Aerospace Ltd., OMEGA Engineering Inc. (Spectris plc), QED Aerospace, WIKA Alexander Wiegand SE & Co. KG and Winters Instruments Limited.
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The report segmented the market on the basis of region, output type, technology and application.
Breakup by Output Type:
Analog
Digital
Breakup by Technology:
Piezoresistive Pressure Gauge
Capacitive Pressure Gauge
Electromagnetic Pressure Gauge
Resonant Solid State Pressure Gauge
Optical Pressure Gauge
Breakup by Application:
Aviation and Defense
Automotive
Healthcare
Energy
Others
Breakup By Regions:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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Contact Us:
IMARC Services Private Limited.
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Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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