Pressure Transmitter Market Driven by the Growing Technological Advancements, COVID – 19 Outbreak, Competitor Strategy, Industry Profit Growth, Landscape and Demand
Research Reports
Jan 05, 2021
According to Market Research Future (MRFR) Pressure Transmitter Market to Witness a Disruption Caused by the COVID 19 Pandemic. Market expected to reach at USD 4 Billion by 2023 and a healthy6% CAGR over the review period.
Market Scenario
Market Research Future (MRFR) highlights that 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.
Market Synopsis
Pressure transmitters are capable of withstanding certain environmental conditions, such as water or fluid submergence. They are made of piezoelectric materials which are not affected by radiation and electromagnetic fields, which also contribute to global market development. They are conveniently connected to the electrical circuits and able to calculate ambient pressure, which in effect propels the development of the global economy. Due to technological advancements in industrial and consumer electronics, the pressure transmitter market is expected to see strong growth. The factors driving the pressure transmitter market’s growth consist of growing automation demand across all process industries, having to maximize resources, and enhancing efficiency, safety and protection. Power, chemical, water, and pharmaceutical industries are poised to see pressure transmitters deployed.
Competitive Dashboard
Some of the major players in the global pressure transmitter market: Yokogawa Electric Corporation (Japan), Emerson Electric Company (U.S.), Endress+Hauser AG (Switzerland), Honeywell International, Inc. (U.S.), ABB Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (Germany), General Electric (U.S.), Dwyer Instruments, Inc. (U.S.), WIKA Alexander Wiegand SE & Co. KG (Germany), and others.
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Market Segmentation
The global pressure transmitter market is segmented by type, sensing technology, communication protocol, application, and industry. By type, the market consists of absolute transmitters, gauge, differential pressure and multivariable pressure. The section of the contact protocol includes HART (Highway Addressable Remote Transducer) and HART Wireless, Foundation Fieldbus, Profibus, and others. The section of sensing technology involves piezoelectric, capacitive, piezoresistive, strain gauge and others. The section of application consists of the flow, volume, and pressure. The vertical section includes oil & gas, food & beverage, water & wastewater, pulp & paper, metal & mining, chemicals, energy, pharmaceutical and others.
Regional Outlook
The global pressure transmitter market is studied in Europe, North America, Asia Pacific, and Rest of the World.
It has been noted that North America market is anticipated to develop at the highest CAGR in the global pressure transmitter market. North America pressure transmitter market has primarily been benefited from developing commercial markets and industrial growth in this region. Expansion of the automotive sector and demand for electronic pressure transmitters are factors contributing to the growth of the market in the US, Canada, and Mexico.
Europe market accounts for the second-highest share in the pressure transmitter market.
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TABLE OF CONTENTS:
- Market Introduction
- Research Methodology
- Market Dynamics
- Executive Summary
- Market Factor Analysis
- Pressure Transmitter Market, By Segments
- Competitive Analysis
Continued…
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