Pressure Transmitters Market Insights:
The market size for pressure transmitters was estimated at USD 2.9 billion in 2022. Pressure transmitters are expected to experience a compound annual growth rate (CAGR) of 3.60% from 2023 to 2032, rising from USD 3.0 billion in 2023 to USD 3.9 billion. The key market drivers accelerating the market expansion are the increasing emphasis on industrial automation for maximum resource utilisation and the rising demand for multivariable.
The extensive use of industrial automation systems, such as pressure transmitters, to reduce human involvement, can be credited with the quick rise in the pressure transmitter market CAGR globally throughout the projection period. Additionally, these products are weatherproof and can withstand submersion in liquids like water.
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Key Players:
- Emerson Electric Company (U.S.)
- Yokogawa Electric Corporation (Japan)
- Endress+Hauser AG (Switzerland)
- ABB Lid. (Switzerland)
- Honeywell International Inc. (U.S.)
- Siemens AG (Germany)
- General Electric (U.S.)
- Schneider Electric SE (Germany)
- WIKA Alexander Wiegand SE & Co. KG (Germany)
- Dwyer Instruments Inc. (U.S.),
are the notable vendors in the Pressure Transmitters market.
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Pressure Transmitters Market Regional Analysis:
The study breaks down the market information by region, including North America, Europe, Asia-Pacific, and the rest of the world. The biggest market share was held by the Asia Pacific region, and it is anticipated that this pattern will persist.
Because more people are using power, more chemicals are being exported, and more industrial- and utility-grade wastewater treatment facilities are being built. Additionally, the region's expanding food and beverage and chemical sectors are fueling the growth of the pressure transmitter market. From 2023 to 2032, the pressure transmitters market in North America is anticipated to expand at the quickest CAGR. The fast industrialization and expansion of the healthcare industry are to blame for this. Additionally, the Indian pressure transmitters market had the quickest rate of growth in the North American area, while China's pressure transmitters market had the largest market share.
Pressure Transmitters Market Segmentation:
The absolute pressure transmitters, differential pressure transmitters, gauge pressure transmitters, and multivariable transmitters are the four type categories into which the pressure transmitters market is segmented.
Based on communication protocol, the pressure transmitters market is segmented into HART, wireless HART, fieldbus profibus, and foundation.
Piezoelectric, capacitive, piezoresistive, and strain gauge segments make up the Pressure Transmitters Market segmentation based on sensing technology.
The application categories of the Pressure Transmitters Market segmentation are flow, level, and pressure. In 2022, the level application accounted for the bulk of the global market.
The Oil & Gas, Food & Beverage, Water & Wastewater, Pulp & Paper, Metal & Mining, Chemical Power, Pharmaceutical segments of the Pressure Transmitters Market.
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Additionally, pressure transmitters help in monitoring and gathering information that is helpful for increasing production, identifying trends, and making changes to prevent future bad situations. The oil and gas, power generation, chemical, food and beverage, pharmaceutical, pulp and paper, water and wastewater, metal and mining industries all employ pressure transmitters.
The global pressure transmitter market will also grow as a result of the incorporation of industry 4.0 and the industrial internet of things, as well as the enormous potential of the processing industries. The increase of the pressure transmitter market's revenue will be driven by the rise in demand for real-time data analysis and preventive maintenance.
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