Pressure Transmitter Market size is estimated to be USD 2.9 billion in 2022 and is projected to reach USD 3.5 billion by 2027, at a CAGR of 3.6%. Increasing production potential of process industries such as food & beverage and pharmaceutical to cater to rising consumption is driving the adoption of field instruments such as pressure transmitters and temperature sensors for increasing productivity. Additionally, need for real-time analysis of statistical inputs from different types of production processes to improve efficiency and productivity is promoting the growth of measurement and analytics instrumentation market such as of pressure transmitters and flowmeters.
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Differential pressure transmitters to hold the largest market share in 2021
Differential pressure transmitters are used at different stages of primary, secondary, tertiary, and biological wastewater treatment processes. They are deployed in inlet pumping stations for pumping control and sludge level measurement in primary treatment. Differential pressure transmitters are used to calculate mass flow and air during the water aeration process; they also play a vital role in tertiary treatment to measure head loss across filters. Growth of water & wastewater industry globally is driving the growth of differential pressure transmitter segment.
Measurement of liquids to hold the largest market share and grow at the highest rate during review period
Pressure transmitters are used in alcohol manufacturing plants for measurement of level and pressure of liquids at production and packaging stages. They are used in chemical industry for measurment of liquids in harsh application environments including exposure to aggressive media. Pressure transmitters are used for water level measurement and measurement of level and pressure of liquids in storage and filtration tanks in water & wastewater treatment industry.
Level measurement to hold majority share of the overall market in 2021
Due to high reliability and accuracy of pressure transmitters in level measurement of fluids, they are the most sort after field instruments for level measurement across process industries. Pressure transmitters are used in power industries, especially in nuclear power plants, for accurate level measurement for ensuring safety. Pressure transmitters for level measurement across the food, sanitary, and pharmaceutical industries require special seals for measurement due to various properties of flowing liquid fluid inside the tank (non-toxic, hot, dirty, corrosive, or any other aggressive media). The pulp & paper industry also requires special connections between the transmitter and process under consideration as it needs easy dismantling of transmitters for cleaning purposes.
Oil & gas industry to hold the largest share while water & wastewater industry to grow at the highest rate
Increasing oil & gas exploration activities globally, especially in North America, owing to increasing energy demand worldwide is driving the demand for industrial automation to ensure effective utilization of resources. Hence, growing industrial automation is driving the growth of market related to field instruments such as pressure transmitters and flowmeters. Additionally, there is a rising global demand for potable water from both residential and commercial applications. Need for desalination of water, especially in the Middle East, and necessity for reusability of wastewater are driving the growth of the water & wastewater treatment industry. Hence, growth of aforesaid industry is driving the demand for pressure transmitters.
The pressure transmitter market in Asia Pacific is expected to grow significantly from 2022 to 2027
Considering the growing demand for energy and the need to reduce carbon emissions, countries in Asia Pacific are expected to lay down new pipelines. China is one of the largest chemical producers, including fertilizers, dyes, inks, and specialty chemicals. With a population of over 1.4 billion people, it is also one of the fastest-growing markets for food & beverage globally. China is considered the worldâ€™s largest beer producer and has a vast market for non-alcoholic drinks. The growth of these industries in China is fueling the demand for pressure transmitters, as they are extensively used for various applications, including parameter measurement, overpressure detection, and level measurement, across these industries.
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Major companies operating in the pressure transmitter market include Emerson (US), ABB (Sweden), Schneider Electric (France), Yokogawa (Japan), Endress+Hauser (Switzerland), Honeywell (US), Siemens (Germany), Fuji Electric (Japan), Danfoss (Denmark), and Hitachi (Japan).