Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Pressure Transmitter Market size is expected to reach $3.2 billion by 2028, rising at a market growth of 3.6% CAGR during the forecast period.
The Liquid market acquired maximum revenue share in the Global Pressure Transmitter Market by Fluid Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.3 billion by 2028. It is because submersible pressure transmitter is widely used in non-hydrocarbon liquids, fluid pressure, and level measuring applications such as water and wastewater.
The Level market has shown high growth rate of 3.3% during the forecast period. It is because pressure transmitters are extensively used for level monitoring in a variety of industries, including fuel tanks, chemicals, petrochemicals, water and wastewater, and many more. Pressure transmitters also provide several advantages over other external devices, including low cost, simplicity of the technology, minimal maintenance costs due to the lack of moving components, and compact design, making them a good choice for level measuring applications.
The Differential Pressure is leading the Global Pressure Transmitter Market by Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.7 billion by 2028. It is Due to the differential pressure transmitters which are the most extensively used pressure transmitters in the oil and gas sector for flow, elevation, and pressure measurement applications, which are critical for process monitoring and control.
The Oil & Gas market is showcasing a CAGR of 2.1% during the forecast period. Process industries, particularly the oil and gas industry, which deals with a range of fluids and gases, rely on these transmitters. They're frequently utilized to make a fluid interface detector that monitors the level of liquid in a system's many connected pipelines. In these industries, measuring and maintaining the pressure levels of various components is critical for their proper operation, as any change above or below the specified pressure might result in tragedy.
The North America market dominated the Global Pressure Transmitter Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.1 billion by 2028. The Europe market is poised to grow at a CAGR of 3.2% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/pressure-transmitter-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Siemens AG, Schneider Electric SE, Hitachi, Ltd., Honeywell International, Inc., Yokogawa Electric Corporation, Emerson Electric Co., The Danfoss Group, Fuji Electric Co., Ltd., Endress+Hauser AG
By Fluid Type
Unique Offerings from KBV Research
North America Pressure Transmitter Market Size & Opportunities 2022-2028
Europe Pressure Transmitter Market & Growth Forecast 2022-2028
Asia Pacific Pressure Transmitter Market Share & Industry Outlook to 2028
LAMEA Pressure Transmitter Market Growth, Trends & Forecasts 2022-2028