Global Pressure Transmitter Market size was valued at US$ 2.85 Bn in 2019 and is expected to reach US$ 3.89 Bn by 2027 to exhibit a CAGR of 3.98 % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global pressure transmitter market dynamics, structure by identifying and analyzing the market segments and project the global market size.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global pressure transmitter market.
The pressure transmitter is a pressure sensor used for measurement of pressure in fluids, liquids, and gasses. There are several uses of pressure transmitter in industrial and automotive applications. It is also used for determining the pressures in industrial machinery to aware the ruin situations earlier. Before the developments in integrated circuit technology, pressure transmitters were simply distinct from transducers because of their bulky size.
Owing to technological progressions in the industrial and consumer appliances is driving the growth of the pressure transmitter market in the coming years. The increasing need for maintenance to extend the life of industrial equipment requires continued fluid flow, pressure controlling activities, and monitoring of fluids are boosted the market growth. Also, pressure transmitters have the ability to resist radiation and electromagnetic fields, which are also contributing to the growth of the global market.
However, the factor which hampers the growth of the global pressure transmitter market is innovative and superior technology is used in electronic gadgets and mechanical equipment that requires high maintenance cost and changing market trend witnessed in end-user industries. The major challenge to the growth of this market is unease overgrowth in developing economies and contracting of Greenfield projects. Several opportunities are expected to produce in this market during the forecast period because of the growing demand for multivariable pressure transmitters.
The pressure transmitter application is witnessing significant growth with the help of liquid segment during the forecast period because they are widely used in the measurement of liquids in various industries. The pressure transmitters are largely used in the oil & gas industry for controlling hydraulic pressure, measuring the flow line pressure and subsea injection valves. Hence the oil and gas industry also helps to increase the growth of the pressure transmitter in the global market.
Different pressure transmitters are used to measure the hydrostatic pressure level of liquids in tanks and in offshore platforms and onshore factories. Also, pressure transmitters are used to measure the pressure employed by liquefied petroleum gas, petrol, crude oil, and other petroleum in petrochemical industries are helping to the growth of pressure transmitter segment.
Now the oil & gas industry is gaining popularity in the global pressure transmitter market because of oil & gas industry is expected to hold the largest share of the global market during the forecast period. The growth of this industry is attributed by the factors such as increasing use of the pressure transmitters across the production of the oil & gas industry to take multiple measurements about mass flow, level detection, and pressure. Also for several process measurements through the drilling and exploration stage the oil & gas industry needs pressure transmitters. It is also working in many onshore applications and offshore applications are boosting the growth of the oil & gas industry in the global market.
By the analysis of the global pressure transmitter market, North America is investing considerably in energy infrastructure to fulfill the rising demand for oil and gas. Presence of a strong economy and established process industries in the US is projected to grow rapidly during the forecast period owing to the maximum demand of oil and gas. The growth of the US market is responsible for the growth of pressure transmitter market of North America. Also, the world’s largest network of gas pipelines is present in the US and important contribution toward global annual electricity generation of the US is continuously boosting the growth of the growth of the pressure transmitter market in North America.
Scope of the Global Pressure Transmitter Market
Global Pressure Transmitter Market, by Fluid Type
Global Pressure Transmitter Market, by Application
Global Pressure Transmitter Market, by Type
• Absolute Pressure Transmitter
• Liquid Pressure Transmitter
• Multivariable Pressure Transmitter
• Differential Pressure Transmitter
Global Pressure Transmitter Market, by Industry
• Oil & Gas
• Water and Wastewater
• Food & Beverages
• Metal & Mining
• Pulp & Paper
• Others (Power, Pharmaceutical)
Global Pressure Transmitter Market, by Region
• North America
• Middle East & Africa
• South America
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