Pressure Transmitter Market size worth $ 4.05 Billion, Globally, by 2030 at 4.14% CAGR: Verified Market Research®
The primary reasons propelling the growth of the Pressure Transmitter Market are the adoption of industrial automation for the best utilization of available resources and the increased focus on real-time data analysis and predictive maintenance.
JERSEY CITY, N.J., July 19, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Pressure Transmitter Market” By Product (Absolute Pressure Transmitters, Differential Pressure Transmitters), By Application (Chemical industry, Electric Power Generation), and By Geography. According to Verified Market Research, the Pressure Transmitter Market size was valued at USD 2.81 Billion in 2021 and is projected to reach USD 4.05 Billion by 2030, growing at a CAGR of 4.14% from 2022 to 2030.
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Browse in-depth TOC on “Pressure Transmitter Market”
202 – Pages
126 – Tables
37 – Figures
Global Pressure Transmitter Market Overview
Industrial automation systems take out human intervention, which lowers costs associated with labor, waste, and downtime, minimizes errors, improves process quality, and speeds up response and processing times. One of the essential field instruments used by the measurement and analytics division of the industrial automation suite to provide precise process measurements and improve productivity and safety is a pressure transmitter. Pressure transmitters track and store crucial data that may be used to boost production, spot trends, and make adjustments to stop reoccurring problems. This improves the effectiveness of the manufacturing processes, lowers the need for maintenance, and improves overall productivity.
According to shifting company needs, industrial systems need to be updated and maintained. Significant changes in software systems that manage field instruments like pressure transmitters and flowmeters have been observed with the increased adoption of IIoT and Industry 4.0 technologies. Industrial automation has accelerated the digital revolution while also making the monitoring and analysis of parameters more difficult. Although productivity rises, it becomes increasingly difficult to keep up with ongoing improvements to prevent unneeded breakdowns and downtime.
Key Developments
- In October 2021, n Toan’san effort to improve the capabilities of the first software-centric universal automation system, Schneider Electric launched the EcoStruxure Automation Expert Version 21.2. This will offer complete lifecycle management, seamless IT/OT service integration, and enhanced system diagnostics for automation systems at the water and wastewater treatment plants.
Key Players
The major players in the market are Emerson (Rosemount), Fuji, Yokogawa, E+H, Schneider (Foxboro), Honeywell, SMAR, ABB, Siemens, Danfoss, Saic, Weltech, Guanghua, and Wecan.
Verified Market Research has segmented the Global Pressure Transmitter Market On the basis of Product, Application, and Geography.
- Pressure Transmitter Market, By Product
- Absolute Pressure Transmitters
- Differential Pressure Transmitters
- Gauge Pressure Transmitters
- Multivariable Transmitters
- Pressure Transmitter Market, By Application
- Chemical Industry
- Electric Power Generation
- Oil & Gas
- Water & Wastewater
- Food & Beverage
- Metals
- Pulp & Paper
- Pressure Transmitter Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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