Pressure Transmitter Market Size, Share, Opportunities, And Trends By Type (Absolute, Multivariable, Gauge, Others), By Sensing Technology (Strain Gauge, Capacitive, Piezoelectric, Others), By Fluid Type (Gas, Steam, Liquid), By End-Use Industry (Metals & Mining, Oil & Gas, Healthcare, Chemical, Others), And By Geography - Forecasts From 2024 To 2029
- Published : Jun 2024
- Report Code : KSI061610071
- Pages : 131
The pressure transmitter market is expected to grow at a CAGR of 3.82% from estimated value of US$3.936 billion in 2024 to US$4.748 billion in 2029.
Pressure transmitters are pressure sensor tools that help detect pressure in liquids, gases, and fluids and are widely used in industrial and automotive applications. They use various mechanisms to measure the pressure in the machinery to warn about disaster situations in advance. The various pressure levels are represented on a spherical gauge with different colours. These devices combine to avoid leakage in the industrial system by sensing altitudes, depths, pressure loss, and water flow.
Pressure Transmitter Market Drivers:
- Increasing demand due to industrial automation
The increasing adoption of industrial automation by manufacturing industries worldwide drives the pressure transmitter market. This adoption is driven by benefits such as improved product quality, increased productivity, lower operational costs, and improved health and safety standards during various processes. The development of modern control systems, a new phenomenon in this era, opens up commercial potential. One of the primary drivers for this area is Industry 4.0. Operational efficiency and profit margins have been skyrocketing as industry 4.0 machinery and applications continue gaining ground with companies over time. Furthermore, pressure transducers are widely used in aircraft flight testing in the aerospace sector. For such vital applications, the technologically specialized, governed aerospace sector globally requires high-quality pressure transducers. Pressure transducers used in harsher, more demanding environments, such as chemical, petrochemical, and oil and gas, have unique properties that ensure they are not compromised.
- Rising use of pressure transmitters in the process industry
In order to meet industry needs, vendors are introducing new products that will enable them to acquire a larger share of the pressure transmitter market. In February 2023, for instance, KROHNE Group, a key manufacturer and supplier of process instrumentation and measurement solutions, introduced pressure transmitters with the OPTIBAR PSM 2010 acronym for gauge and absolute measurements in liquids or gases.
- Rising use of multivariable pressure transmitter
The multivariable pressure transmitter is a notable advancement. Temperatures, absolute pressure, & differential pressure are all measured and calculated using multivariable transmitters. As a result, it is used whenever differential pressure measurement requires temperature and pressure adjustment. Its key advantage is that it eliminates the need for multiple transmitters and a mass flow calculator in the field. Using a single device rather than multiple devices minimizes installation and maintenance expenses while providing effective process knowledge. Consequently, the multivariable pressure transmitters' combined benefits are projected to provide significant growth prospects.
- Increasing use of the strain gauge method
A strain gauge is a sensing device that measures the strain felt by an item. Strain gauges primarily produce force and pressure transducers, particularly load cells. Automation, control systems, biomechanics, monitoring systems, structural integrity analysis, high-volume material measuring, testing, and quality control are just a few sectors that employ them.
- Increased demand by the healthcare industry
Pressure transmitters transfer blood pressure information from the catheters to the patient's monitoring system. Further, these transmitters are employed in hospital steam sterilizers to control the quality of steam produced by controlling the pressure within the sterilization chamber. Other factors expected to boost the market in the coming years include increased investments in the healthcare business, as well as increased usage of technologically advanced variations for eliminating human errors.
Pressure Transmitter Market Restraint:
- Fluctuations in raw material prices
The adoption of industrial transmitters is limited in industrial settings because small industrialists view them as expensive pieces of equipment. Prices for raw materials frequently fluctuate, which affects industrial transmitters. As a result, the market suffers from raw material price volatility.
Pressure Transmitter Market Geographical Outlook
- North America is projected to grow rapidly during the forecast period
The implementation of Industry 4.0 must result in an ecosystem of different connected devices. Due to rising competition in the US industrial sector, additional importance is placed on achieving high-performance efficiency to accomplish optimization & reduced performance failures. Developing a smart product portfolio with digital communication interfaces is a growing trend in the industry. This is predicted to enhance adoption rates significantly. For example, OleumTech, a United States-based manufacturer of wireless IoT & industrial automation solutions, provides HGPT Smart Gauge Pressure Transmitter. The OleumTech H Series Smart Pressure Transmitters provide efficient performance, accuracy, and dependability for various industrial applications, including petrochemical, electricity, wastewater, and upstream oil and gas.
Pressure Transmitter Market Developments:
- In March 2023, Microsensor introduced the MDM6000 series intelligent pressure transmitter. It uses a high-performance monocrystalline silicon composite pressure sensing technology that offers dependable stability and high precision. Its diverse forms and modular function designs make it suitable for various petrochemical, food, medical applications, pulp and paper, industrial gas, and other general process industries. It provides reliable, secure, and efficient automated industrial process control measurement solutions.
- In September 2023, Baker Hughes, an energy technology firm, announced their newest product- Druck hydrogen-rated pressure sensors, which are used with different applications. It includes use within gas turbines and production processes involving electrolysis and other hydrogen station filling systems. This is important because these types of hydrogen sensors are created specifically to last longer than others available today.
Pressure Transmitter Market Scope:
| Report Metric | Details |
| Market Size Value in 2024 | US$3.936 billion |
| Market Size Value in 2029 | US$4.748 billion |
| Growth Rate | CAGR of 3.82% from 2024 to 2029 |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
|
| Companies Covered |
|
| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Key Market Segmentation:
Pressure transmitter Market is segmented and analyzed as below:
- By Type
- Absolute
- Multivariable
- Gauge
- Others
- By Sensing Technology
- Strain Gauge
- Capacitive
- Piezoelectric
- Others
- By Fluid Type
- Gas
- Steam
- Liquid
- By End-User Industry
- Metals & Mining
- Oil & Gas
- Healthcare
- Chemical
- Others
- By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
- North America
1. INTRODUCTION
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.5. Currency
1.6. Assumptions
1.7. Base and Forecast Years Timeline
1.8. Key Benefits to the Stakeholder
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Processes
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. PRESSURE TRANSMITTER MARKET BY TYPE
5.1. Introduction
5.2. Absolute
5.3. Multivariable
5.4. Gauge
5.5. Others
6. PRESSURE TRANSMITTER MARKET BY SENSING TECHNOLOGY
6.1. Introduction
6.2. Strain Gauge
6.3. Capacitive
6.4. Piezoelectric
6.5. Others
7. PRESSURE TRANSMITTER MARKET BY FLUID TYPE
7.1. Introduction
7.2. Gas
7.3. Steam
7.4. Liquid
8. PRESSURE TRANSMITTER MARKET BY END-USER INDUSTRY
8.1. Introduction
8.2. Metals & Mining
8.3. Oil & Gas
8.4. Healthcare
8.5. Chemical
8.6. Others
9. PRESSURE TRANSMITTER MARKET BY GEOGRAPHY
9.1. Introduction
9.2. North America
9.2.1. By Type
9.2.2. By Sensing Technology
9.2.3. By Fluid Type
9.2.4. By End-User Industry
9.2.5. By Country
9.2.5.1. USA
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. By Type
9.3.2. By Sensing Technology
9.3.3. By Fluid Type
9.3.4. By End-User Industry
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. By Type
9.4.2. By Sensing Technology
9.4.3. By Fluid Type
9.4.4. By End-User Industry
9.4.5. By Country
9.4.5.1. UK
9.4.5.2. Germany
9.4.5.3. France
9.4.5.4. Italy
9.4.5.5. Spain
9.4.5.6. Others
9.5. Middle East and Africa
9.5.1. By Type
9.5.2. By Sensing Technology
9.5.3. By Fluid Type
9.5.4. By End-User Industry
9.5.5. By Country
9.5.5.1. Saudi Arabia
9.5.5.2. UAE
9.5.5.3. Others
9.6. Asia Pacific
9.6.1. By Type
9.6.2. By Sensing Technology
9.6.3. By Fluid Type
9.6.4. By End-User Industry
9.6.5. By Country
9.6.5.1. China
9.6.5.2. Japan
9.6.5.3. India
9.6.5.4. South Korea
9.6.5.5. Indonesia
9.6.5.6. Thailand
9.6.5.7. Taiwan
9.6.5.8. Others
10. COMPETITIVE ENVIRONMENT AND ANALYSIS
10.1. Major Players and Strategy Analysis
10.2. Market Share Analysis
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Competitive Dashboard
11. COMPANY PROFILES
11.1. General Electric Co.
11.2. Siemens AG
11.3. SensorONE Ltd.
11.4. ABB Ltd.
11.5. Emerson Electric Co.
11.6. Arcline Investment Management (Dwyer Instruments, Inc.)
11.7. Yokogawa Hokushin Electric Corp
11.8. Sensata Technologies, Inc.
11.9. Endress+Hauser Consult AG
11.10. Honeywell International, Inc
General Electric Co.
Siemens AG
SensorONE Ltd.
ABB Ltd.
Emerson Electric Co.
Arcline Investment Management (Dwyer Instruments, Inc.)
Yokogawa Hokushin Electric Corp
Sensata Technologies, Inc.
Endress+Hauser Consult AG
Honeywell International, Inc
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