The pressure transmitter market was worth around $2,904.0 million in 2021, which is predicted to hit $4,168.7 million by 2030, advancing at a 4.1% CAGR between 2021 and 2030. The main factor driving the growth of the market is the rising need for wireless pressure transmitters. By reducing wiring runs, such devices usually provide lower installation costs and simpler installation in remote areas. Another important aspect influencing the market is the increase in industrial automation adoption due to its enhanced product quality, lower operating costs, and maintenance of health and safety.
The liquid category is the biggest revenue producer in the pressure transmitter market, based on fluid type, and it will grow at a rate of 4.1% in the coming years. In non-hydrocarbon liquids, a submersible pressure transmitter is used for fluid pressure and level measurement, including in the water & wastewater treatment domain. Moreover, differential and measured pressure transmitters are widely used to gauge groundwater pump levels, as well as the hydrostatic liquid levels in tanks.
The level measurement category holds nearly 54.0% share of the global pressure transmitter market, when segmenting by application. Additionally, the category is expected to grow at a CAGR of 4.4% in the years to come. In the chemical, water & wastewater treatment, and petrochemical industries, pressure transmitters are widely used to examine the level in fuel tanks. Moreover, they help reduce purchase and maintenance expenses, offer ease of usage, and are compact in nature, therefore are suitable for applications of level measurement.
In 2021, the water & wastewater treatment category produced $243.8 million in the industry segment of the pressure transmitter market, and it is on the path to generating $371.4 million during the forecast period. Around the world, pressure transmitters are used in sewage systems, filtration facilities, chemical feeds, pumping stations, storage facilities, mixing vessels, and wet wells in the water & wastewater treatment industry. Such devices are used at various stages of the wastewater treatment process, such as tertiary, biological, primary, and secondary treatment.
Differential pressure transmitters hold around 51.5% revenue share in the market, on the basis of type. They are ideal in the oil & gas sector for level, pressure, and flow measurement, for process control and monitoring. Moreover, they are also utilized for measuring fluid flow, fluid level, and fluid density. Other applications include flow measurement and level detection in the aforementioned sectors, utilizing venturi tubes, orifice plates, low-loss flow tubes, pitot tubes, and flow nozzles.
Players have commenced a variety of strategic developments to remain competitive in the market. For example, Huba Control introduced the 555-pressure transmitter, which is suitable for high temperatures and designed for alternative-drive systems, in June 2021. Type 555’s compact design and ruggedness enable vibration and shock stability and also allow for long-term durability. Other key players in the pressure transmitter market are Emerson Electric Co., Yokogawa India Ltd., Schneider Electric, Hitachi High-Tech Corporation, Fuji Electric Global, Danfoss, Honeywell International Inc., Siemens, and ABB Ltd.
Hence, the potential of the market to grow in the coming years are high due to the rising demand for potable water, booming chemical exports, and advancing oil & gas industry.
