Pressure Transmitter Market Size, Share & Growth Report 2031

Report Description

The global pressure transmitter market size was valued at around USD 2.9 billion in 2021, is expected to reach around USD 3.8 billion by 2030 and is anticipated to expand at a CAGR of 4.3% during the forecast period, 2022–2030. The growth of the market is attributed to increasing popularity of automation for industrial optimization.

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A pressure transmitter is a device that controls the amount of compression that is delivered to a fluid, liquid, or gas. It includes an electrical amplifier and a pressure transducer to correctly convey the current. The gadget detects quick pressure fluctuations and converts them into mechanical energy and electric current. Pressure transmitters combine a pressure transducer and an electrical amplifier into a single unit that allows data to be sent to remote locations with greater precision and less noise. Pressure transmitters are frequently used in conjunction with other instruments to detect leaks in industrial equipment by measuring depth, altitude, pressure loss, and water flow. Pressure transmitters are utilized in a variety of industrial and automotive applications because they offer a circular gauge with different levels.

The continuing COVID-19 global pandemic has created a serious and urgent public health disaster over the planet. Governments have proclaimed restrictive measure such as lockdown to manage the pandemic on a local level. Some nations have mostly reopened their economy, while others are still combating the virus, and yet others are resorting to closures in the aftermath of future waves. A drop in commodity prices has negatively affected certain developing nations at the same time, adding to economic and budgetary pressures. Policymakers must consequently be sensitive to the demands of their specific countries while collaborating worldwide.

Market Trends, Drivers, Restraints, and Opportunities

• Increasing usage of pressure transmitters in several industries is expected to drive the market.
• Rising adoption of advanced technology is projected to propel the market during the forecast period.
• Maintenance cost of transmitters is anticipated to hinder the market.
• Fluctuating prices of oil is expected to hamper the market in the coming years.
• Increasing demand for multivariable pressure transmitters are projected to create lucrative opportunities for market players. 

Scope of the Report

The report on the global pressure transmitter market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights

Absolute pressure transmitters segment to expand at a substantial CAGR

On the basis of types, the pressure transmitter market is segregated into multivariable pressure transmitters, differential pressure transmitters, gauge pressure transmitters, and absolute pressure transmitters. The absolute pressure transmitters segment is anticipated to expand at a substantial CAGR during the forecast period. Absolute pressure transmitters are utilized in situations where the pressure inside the vessel or process is unaffected by ambient pressure. Absolute pressure transmitters are commonly employed for vacuum distillation columns.  The gauge pressure transmitters segment is expected to hold a significant share of the market. The gauge pressure transmitters are vented to atmospheric pressure instead of being evacuated to absolute vacuum. Pressure transducers, gauges, and switches are being phased out of use in favor of gauge pressure transmitters.  

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Oil & gas segment to register considerable market share

Based on end-users, the market is segmented into food & beverages, oil & gas, chemicals, textiles, power generation, water & wastewater, and others. The oil & gas segment is projected to register considerable share of the market in the coming years. Pressure transmitters are widely used in the oil & gas sector for measuring and regulating operations including cementing, drilling, mud pumping, coiled tubing, and well stimulation. The water & wastewater segment is expected to hold substantial CAGR, due to its legal requirements, including operational events and discharged water quantities measured and documented.   

North America is anticipated to constitute a key market share

In terms of regions, the pressure transmitter market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the forecast period, owing to increasing demand for energy from industrial and domestic applications. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the applications of pressure transmitters in the heavy industries.  

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