Pressure Transmitters Market 2020: Emerging Audience, Segments, Sales, by Forecast to 2023
Overview:
The Global Pressure Transmitter Market is segmented into numerous segments of which the multivariable pressure transmitter is expected to witness high growth. This sensor has the capability to measure multiple parameters and is effective in reducing overall cost.
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The global pressure transmitter market is segmented by type, communication protocol, sensing technology, application, and industry. By type segment, the market consists of absolute, gauge, differential pressure, and multivariable pressure transmitter. The communication protocol segment comprises , HART (Highway Addressable Remote Transducer) and wireless HART, Foundation Fieldbus, Profibus, and others. The sensing technology segment comprises of piezoelectric, capacitive, piezoresistive, strain gauge, and others. The application segment consists of flow, level, and pressure. The vertical segment comprises of oil & gas, food & beverage, water & wastewater, pulp & paper, metal & mining, chemical, power, pharmaceutical, and others.
The latest trend in the automation pressure transmitter market is the demand for a smart and cost-efficient product that comprises of digital communication interfaces. Owing to the above-mentioned reason, the demand for traditional analog output pressure transmitters is expected to continue to decline over the forecast period. The reason for this shift in trend is the rise in digital networking facilities, thus eliminating, the need for wiring.
According to Market Research Future Analysis, the global pressure transmitter market is estimated to generate revenue of approximately USD 4 Billion by 2023 growing at a CAGR of 6% during the forecast period 2017-2023.
Segmentation:
The segmental appraisal of the pressure transmitter market is conducted on the basis of type, communication protocol, application, sensing technology, and vertical. On the basis of type, the pressure transmitter market comprises of gauge, differential pressure, absolute, and multivariable pressure transmitters. Based on the communication protocols, the pressure transmitter market comprises of wireless HART, Foundation Fieldbus, Profibus, HART (Highway Addressable Remote Transducer), and others. On the basis of sensing technology, the pressure transmitter market is segmented into capacitive, piezoresistive, piezoelectric, strain gauge, and others. Based on the application, the pressure transmitter market comprises of level, flow, and pressure. Based on the vertical, the market for pressure transmitters comprises food & beverage, oil & gas, water & wastewater, pulp & paper, chemical, power, metal & mining, pharmaceutical, and others. The regional basis of segmenting the pressure transmitter market comprises of North America, Europe, Asia Pacific, and other global regions.
Regional Analysis:
The regional introspection into the pressure transmitter market comprises of regions such as North America, Europe, Asia Pacific, and other global regions. It has also been witnessed that the North American regional market is predicted to develop at the uppermost CAGR in the pressure transmitter market. The European region market is responsible for the subsequent uppermost share in the pressure transmitter market. Also, the Asia Pacific regional market is estimated to develop at the uppermost CAGR. The upsurge in the quantity of chemical and automotive industry in the region is advancing the pressure transmitter market. The pivotal aspects such as the advance of fresh projects, and the demand for industrial automation is expected to play a considerable role in increasing productivity with regards to cost optimization.
Key Players:
Some of the key players in the market: Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), and Dwyer Instruments, Inc. (U.S.), and others.
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