The global pressure transmitter market size is projected to reach USD 3.5 billion by 2027, at a CAGR of 3.6% during the forecast period. The rising emphasis on industrial automation for optimum utilization of available resources and increasing focus on real-time data analysis and predictive maintenance are the major factors driving the growth of the pressure transmitter market. Moreover, growing integration of Industrial Internet of Things (IIoT) and Industry 4.0 technologies coupled with expanding potential of process industries are expected to drive the demand for pressure transmitters in the near future.

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Differential pressure transmitters were the most extensively used pressure transmitters in the market in 2021

Differential pressure transmitter held the largest share (52.48%) of the overall pressure transmitter market in 2021. The market for differential pressure transmitter is expected to grow at a rate of 3.6% during the review period.

Differential pressure transmitters are the most widely used pressure transmitters for flow, level, and pressure measurement applications in the oil & gas industry, which are of utmost importance for monitoring and control of processes. Differential pressure transmitters can be based on any of the pressure sensing technologies and find their usage in level detection and flow measurement with the help of primary elements such as orifice plates, venturi tubes, flow nozzles, low loss flow tubes, and pitot tubes etc. in aforesaid industries.

Measurement of parameters of liquids held the largest share of the pressure transmitter market in 2021

The market for measurement of parameters of liquids held the largest share (77.07% of the overall market in 2021. The market for liquid measurement is expected to grow at a rate of 3.7% during the review period. In non-hydrocarbon liquids, fluid pressure and level measurement applications such as in water & wastewater applications, a submersible pressure transmitter finds wide usage. Gauge and differential pressure transmitters are widely used to measure the hydrostatic (pressure exerted at rest) level of liquids in tanks and used for water level measurement of groundwater pumps.

Oil & gas industry to hold the largest share while water & wastewater industry to grow at the highest rate

The need for industrial automation to ensure efficient resource utilisation is being driven by rising oil and gas exploration activities internationally, particularly in North America. Therefore, increasing industrial automation is fueling the expansion of the market for field instruments like flowmeters and pressure transmitters. Additionally, there is a growing demand for drinkable water worldwide for both domestic and commercial uses. The rise of the water and wastewater treatment sector is being driven by the need for desalination of water, particularly in the Middle East, and the requirement for wastewater reuse. Thus, the expansion of the aforementioned sector is fueling demand for pressure transmitters.

Asia Pacific is expected register the highest growth in the pressure transmitter market during the forecast period

The pressure transmitter market in Asia Pacific held the second largest share (30.93%) of the overall market in 2021. The market in Asia Pacific is expected to grow at the highest rate of 4.0% during the review period. Growing market demand for electricity, growing exports of chemicals, and development of industrial and utility-grade wastewater treatment plants are expected to drive the growth of the market in Asia Pacific. Additionally, growing potential of the chemical and food & beverage industry in Asia Pacific is a major factor driving the growth of the market in the region.

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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).

News also Covered: https://www.prnewswire.com/news-releases/pressure-transmitter-market-worth-3-5-billion-by-2027--exclusive-report-by-marketsandmarkets-301552775.html