(MENAFN- GlobeNewsWire - Nasdaq) New York, NY, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Bourdon Tube Pressure Gauges Market By Application (Chemical/Petrochemical Industry, Power Industry, Measurement, Metallurgical Industry, Oil & Gas, Military Machinery, Pulp & Paper, Food & Beverages, Pharmaceutical, Water Treatment, And Others), By Type (Digital Pressure Gauges And Analog Pressure Gauges), By Technology (Electronic, Mechanical, And Hydraulic/Pneumatic), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. “According to the latest research study, the demand of global bourdon tube pressure gauges market size & share in terms of revenue was valued at USD 1270 million in 2022 and it is expected to surpass around USD 2143 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.76% during the forecast period 2023 to 2030.”
What are Bourdon Tube Pressure Gauges? How big is the Bourdon Tube Pressure Gauges Industry?
Bourdon Tube Pressure Gauges Report Coverage & Overview:
The Bourdon tube pressure gauge is a widely employed mechanical instrument designed for the measurement and display of pressure. Its functionality encompasses the capability to gauge pressure levels in both liquid and gas states within systems. Despite its uncomplicated physical design, this product maintains its status as a favored choice for pressure measurement across various industries. In sectors such as healthcare, oil & gas, water treatment, and beyond, the Bourdon tube pressure gauge stands as an indispensable tool, as numerous engineering processes rely on its accurate readings.
Its nomenclature originates from the Bourdon tube, a component crafted into a coiled or semi-circular C shape. This tube possesses an open end connected to the atmosphere, while the opposing end is sealed. Alterations in the internal pressure of the system cause the tube to either elongate or contract, with even slight pressure shifts being considerably amplified due to the tube's distinctive configuration. The resultant change in the radius of the tube's curvature is then transmitted to an indicator needle, which in turn facilitates the determination of the system's internal pressure.
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Global Bourdon Tube Pressure Gauges Market: Growth Dynamics
Increasing investments in the oil & gas sector are poised to propel the growth of the global Bourdon tube pressure gauges market. The expansion of this market can be attributed to the escalating financial commitments in the oil & gas industry on a global scale. Within this sector, the utilization of pressure measuring tools plays a pivotal role in assessing pressure levels within pipelines, well fluids, boilers, and various other operational equipment.
As the demand for oil & gas escalates, driven by the mounting consumption needs of essential communities, the necessity for efficient Bourdon tube pressure gauges becomes increasingly pronounced. An illustrative example of this trend can be found in India, where, according to the Indian Brand Equity Foundation, oil consumption reached approximately 4.9 million barrels per day (BPD) in 2021.
Research analyses have projected a consistent surge in gas demand until the 2040s, predominantly fueled by the commercial and economic growth observed in Asian nations. Meanwhile, despite a projected decline in oil demand beyond 2050, the present consumption rate remains substantial at around 102 million BPD. The oil & gas industry extensively embraces Bourdon tube pressure gauges due to their cost-effectiveness and reliable precision. Additionally, these gauges are well-suited for high-pressure environments, enhancing their adaptability across diverse applications.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 1270 million |
| Projected Market Size in 2030 | USD 2143 million |
| CAGR Growth Rate | 6.76% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | WIKA Alexander Wiegand SE & Co. KG, Ashcroft Inc., Emerson Electric Co., Baumer, Omega Engineering Inc., Dwyer Instruments Inc., Noshok Inc., AMETEK Inc., Yokogawa Electric Corporation, Honeywell International Inc., McDaniel Controls Inc., Bourdon-Haenni SA, SMC Corporation, REOTEMP Instruments, and ABB Ltd. |
| Key Segment | By Application, By Type, By Technology, and By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. explore purchase options |
Bourdon Tube Pressure Gauges Market: Segmentation Analysis
The global Bourdon tube pressure gauges market is segmented based on application, type, technology, and region.
Based on application, The global market is divided into several segments, including the chemical/petrochemical industry, power industry, measurement sector, metallurgical industry, oil & gas, military machinery, pulp & paper, food & beverages, pharmaceuticals, water treatment, and other sectors. The most substantial growth was recorded in the chemical/petrochemical industry, followed closely by the power and oil & gas sectors. These sectors heavily rely on precise pressure measuring instruments like Bourdon tube gauges, given the criticality of monitoring even the slightest pressure variations to avoid potential ramifications if left unattended.
The chemical/petrochemical industry, power sector, and oil & gas field have witnessed notable growth due to their substantial need for accurate pressure measurement tools such as Bourdon tube gauges. This demand arises from the necessity to monitor even the minutest pressure changes, as neglecting such variations could lead to significant consequences. Factors fueling this segmental growth include increasing investments in the chemical sector and the proliferation of partnerships among industry participants. In 2021, China's chemical industry achieved a remarkable valuation exceeding €1,728 billion.
Based on type, Within the realm of Bourdon tube pressure gauges, the industry is bifurcated into digital pressure gauges and analog pressure gauges. Notably, the analog pressure gauges segment currently registers the highest Compound Annual Growth Rate (CAGR), mainly due to its historical prevalence as the most widely adopted pressure gauge type. However, over the forecast period, the digital segment is anticipated to exhibit the swiftest CAGR. This projection is underpinned by the digital gauges' provision of a digital display for information, heightened accuracy, enhanced data input capabilities, and a reduction in the potential for human errors.
In terms of pressure handling capabilities, Bourdon tube pressure gauges demonstrate their efficacy across a fluid pressure spectrum ranging from 0.6 to 7,000 bar or 8 to 1,000 pounds per square inch (psi).
Based on technology, The global market for Bourdon tube pressure gauges is categorized into three segments: electronics, mechanical, and hydraulic/pneumatic. Generally, the majority of Bourdon tube pressure gauges operate based on mechanical principles. In these devices, the tube reacts in response to applied pressure and communicates the pressure level through an indicator needle. Nevertheless, specific applications necessitate the utilization of customized Bourdon tube pressure gauges that integrate electronic or pneumatic technologies.
The global Bourdon Tube Pressure Gauges market is segmented as follows:
By Application
Chemical/Petrochemical Industry Power Industry Measurement Metallurgical Industry Oil & Gas Military Machinery Pulp & Paper food & beverages Pharmaceutical Water Treatment Others
By Type
Digital Pressure Gauges Analog Pressure Gauges
By Technology
Electronic Mechanical Hydraulic/Pneumatic
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Competitive Landscape
Some of the main competitors dominating the global Bourdon Tube Pressure Gauges market include -
WIKA Alexander Wiegand SE & Co. KG Ashcroft Inc. Emerson Electric Co. Baumer Omega Engineering Inc. Dwyer Instruments Inc. Noshok Inc. AMETEK Inc. Yokogawa Electric Corporation Honeywell International Inc. McDaniel Controls Inc. Bourdon-Haenni SA SMC Corporation REOTEMP Instruments ABB Ltd.
Key Insights from Primary Research :
As per the analysis shared by our research analyst, the global Bourdon tube pressure gauges market is estimated to grow annually at a CAGR of around 6.76% over the forecast period (2023-2030) In terms of revenue, the global Bourdon tube pressure gauges market size was valued at around USD 1270 million in 2022 and is predicted to grow to around USD 2143 million, by 2030. The Bourdon tube pressure gauge market is projected to grow at a significant rate due to the growing investments in the oil & gas sector Based on application segmentation, the chemical/petrochemical industry was predicted to show maximum market share in the year 2022 Based on type segmentation, analog pressure charges was the leading type in 2022 On the basis of region, Asia-Pacific was the leading revenue generator in 2022
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Market Size & Forecast by Revenue | 2023−2030 Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities Market Segmentation – A detailed analysis By Application, By Type, By Technology, and By Region Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis :
The Asia-Pacific region is poised to generate substantial revenue throughout the projected period. In the global Bourdon tube pressure gauges market, Asia-Pacific is anticipated to take the lead. This phenomenon is chiefly attributed to the escalating adoption of pressure measuring gauges in the burgeoning economies of countries like China, India, as well as other nations including Japan, Australia, and Malaysia, among others. Bourdon tube pressure gauges present an attractive proposition for these emerging economies due to their cost-effectiveness. This affordability renders them an optimal choice for countries striving to foster enhanced economic growth across diverse large-scale industries.
In a significant development, India's state-owned oil company, Oil and Natural Gas Corporation (ONGC), unveiled plans in April 2023 to invest more than USD 7 billion, aiming to reverse the decline in oil & gas production over the course of a year. Furthermore, research findings indicate that India is poised to witness investments exceeding 200 billion by 2028 in the oil & gas sector. The European market is also projected to experience notable growth, driven largely by the concentration of key pressure gauge manufacturers in this region. Notably, Switzerland, being the largest supplier of Bourdon tube pressure gauges, significantly influences the industry's trajectory. This region also holds historical significance as the birthplace of the product, contributing to a substantial consumer base fueled by diverse end-user verticals.
Top of Form
By Region
North America U.S. Canada Rest of North America
Europe France UK Spain Germany Italy Rest of Europe
Asia Pacific China Japan India South Korea Rest of Asia Pacific
The Middle East & Africa Saudi Arabia South Africa Rest of the Middle East & Africa
Latin America Brazil Argentina Rest of Latin America
The report extensively explores various critical facets of the global Bourdon tube pressure gauges market. It provides an in-depth examination of prevailing drivers and limitations to growth. Moreover, the report thoroughly encompasses future prospects for expansion as well as challenges that exert influence on the Bourdon tube pressure gauges sector.
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