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WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 7, 2024 /EINPresswire / -- According to a new report published by Allied market Research, titled, "Pressure Transmitter Market ," The pressure transmitter market was valued at $2.8 billion in 2021, and is estimated to reach $4.2 billion by 2031, growing at a CAGR of 4.1% from 2022 to 2031.
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A pressure transmitter is a type of electronic device used to measure and transmit the pressure of a fluid or gas in a process. It consists of a sensing element or sensor that is exposed to the fluid or gas, and a transducer that converts the physical pressure into an electrical signal. The electrical signal is then transmitted to a control system, where it can be processed and used to control the process.
Pressure transmitters are commonly used in industries such as oil & gas, chemical, and manufacturing to monitor and control pressure levels in pipelines, tanks, and other process vessels. They can be used to measure a wide range of pressures, from extremely low pressures, such as those found in clean rooms or laboratories, to extremely high pressures, such as those found in oil drilling or hydraulic systems.
Pressure transmitters are typically designed to be robust and reliable and can operate in harsh environments, such as those with high temperatures, high pressures, and corrosive or abrasive fluids. They are also often used in safety-critical applications, such as in nuclear power plants or in aircraft engines, where accurate and reliable pressure measurements are essential for ensuring safe and efficient operation.
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A pressure transmitter and a pressure indicator transmitter are both devices used to measure pressure, but there are some key differences between the two.
A pressure transmitter is a device that measures pressure and converts the measurement into an electrical signal, which is then sent to a control system for monitoring and control purposes. Pressure transmitters typically provide highly accurate and stable measurements, and they can be used to measure a wide range of pressures, from very low to very high.
A pressure indicator transmitter, on the other hand, is a device that integrates the functionalities of a pressure transmitter and a pressure gauge. Apart from measuring pressure and converting it into an electrical signal, it also has a local display for showing the pressure measurement like a pressure gauge. Pressure indicator transmitters are commonly employed in situations where it's crucial to have both a local display and a remote signal for controlling processes.
According to the latest pressure transmitter market trends, the market for pressure transmitters is experiencing growth due to the rising trend of automation for industrial optimization. Digital communication interfaces are replacing the older analog pressure transmitters and offering remote calibration and diagnostics. These transmitters are widely used in industrial machinery, as well as in consumer electronics for various applications, such as indoor navigation. In addition, the healthcare industry is also contributing to market growth, with pressure transmitters being used to monitor blood pressure and regulate the quality of steam produced by sterilizers in hospitals. The market is also projected to grow due to increasing investments in the energy industry and the adoption of advanced technology to minimize human errors.
The pressure transmitter market size is segmented on the basis of type, end-use industry, and region. By type, the market is divided into absolute, gauge, differential, and multivariable. By end-use industry, the market is categorized into oil & gas, water & wastewater treatment, metals & mining, pharmaceutical, and other industries. Region-wise, the pressure transmitter market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific) and LAMEA (Latin America, the Middle East, and Africa).
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Country-wise, the U.S. region holds a significant pressure transmitter market share in the global pressure transmitter market analysis, owing to the presence of prime players. Major organizations and government institutions in this country are intensely putting resources into this global pressure transmitter. These prime sectors have strengthened the pressure transmitter market growth in the region.
KEY FINDINGS OF THE STUDY
. In 2021, by type, the differential pressure transmitter segment generated the highest revenue contributor to the market and is expected to follow the same trend during the forecast period.
. By end-use industry, the oil and gas segment was the highest revenue contributor to the market, with $740.46 million in 2021 and is estimated to reach $1,231.77 million by 2031, with a CAGR of 5.31%.
. Region-wise, the North America region was the highest revenue contributor, accounting for $934.43 million in 2021, and is estimated to reach $1,415.96 million by 2031, with a CAGR of 4.34%.
. Asia-Pacific is estimated to reach $1,344.65 million by 2031, at a significant CAGR of 5.01%
The pressure transmitter market key players profiled in the report include Schneider Electric, Siemens, ABB Ltd., Danfoss, Omega Engineering, Inc., Honeywell Process Solutions, Emerson Electric Co., Dwyer Instruments Inc., Yokogawa Electric Corporation, and WIKA Instruments India Pvt. Ltd. The market players have adopted various strategies, such as product launches, collaborations & partnerships, joint ventures, and acquisitions to expand their foothold in the pressure transmitter industry.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.