Pressure Transmitter Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

Pressure Transmitter Market by Sensing Technology, Type (Absolute, Gauge, Differential Pressure, and Multivariable), Fluid Type (Liquid, Gas, and Steam), Application
By: MarketsandMarkets
 
NORTHBROOK, Ill. - May 25, 2022 - PRLog -- The global pressure transmitter market size is expected to grow from USD 2.9 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 3.6%. The growth of the pressure transmitter market can be attributed to the growing necessity for implementation of industrial automation across process industries and increasing importance of predictive maintenance and real-time data analysis. However, complexity in installation of pressure transmitters, lack of skilled workforce, and increasing necessity for frequent upgrades are some of the restraints and challenges for the market.

The pressure transmitter market is witnessing steady growth owing to several factors including government initiatives to boost productivity of food & beverage industry in Europe and increasing water desalination infrastructure in the Middle East. Increasing potential of mining industry in Africa and rapidly growing chemical industry in Asia Pacific, especially China, are key factors for growth of pressure transmitter market in these regions.

Based on application, the pressure transmitter market is segregated into level, pressure, and flow. The level measurement application segment held the largest share of the market and is expected to register the highest growth during the review period. The pressure of any liquid is determined by multiplying the vessel's height with specific gravity. Pressure transmitter can be either entirely submerged inside the liquid (termed a hydrostatic level transmitter) or mounted externally on the side or bottom to measure the difference in pressure between the top and bottom of the tank. Pressure transmitters are commonly used for level measurement depending on the nature of applications, such as submersible, intrinsically safe, explosion-proof, and differential pressure type of pressure. In addition, level measurement can be done either by direct measurement or by using remote seals.

Based on industry, the pressure transmitter market is segregated into oil & gas, chemical, water & wastewater treatment, food & beverage, pulp & paper, power, metals & mining, pharmaceutical, and others. The oil & gas industry held the largest share of the market while the water & wastewater treatment industry is expected to grow at the highest rate during the review period. In oil & gas industry, pressure transmitters find multiple applications during drilling and exploration applications, in wellhead monitoring applications, in onshore and offshore exploration applications, and in rig safety applications.

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