Global Pressure Transmitter Market Analysis 2022
The Global Pressure Transmitter Market is expected to reach $4.25 billion by 2028 growing at a CAGR of 5.6% from 2021 to 2028. A pressure transmitter is a mechanical device that measures the expansive force of a liquid or gaseous sample. Also known as a pressure transducer, this type of sensor is typically composed of a pressure-sensitive surface area made of steel, silicon, or other materials depending upon the analyte's composition. They measure the pressure in the machinery to alert about the catastrophe situations beforehand using various mechanisms. The numerous levels of pressure are displayed via a round gauge with different colors. These prevent leakage in the industrial system by measuring altitudes, depth, pressure loss, and water flow combined with other devices.
Factors such high demand for wireless transmitters & industrial automation and optimum utilization of resources are driving the growth of the market. However, maintenance cost of these transmitters and fluctuating oil prices are restraining the growth of the market.
Based on type, the differential pressure segment is going to have a lucrative growth during the forecast period. As it is most extensively used pressure transmitters for flow, level, and pressure measurement applications in the oil & gas industry, which are of utmost importance for monitoring and control of processes. Differential pressure transmitters can be based on any of the pressure sensing technologies and find their usage in level detection and flow measurement with the help of primary elements such as, venturi tubes, flow nozzles, low loss flow tubes, and pitot tubes etc.
The key vendors mentioned are ABB Group, Danfoss, Dwyer Instruments, Inc., Emerson Electric Co., Endress+Hauser, Fuji Electric Co., Ltd., General Electric Company, Honeywell International, Inc., Schneider Electric SE, Siemens AG, WIKA Alexander Wiegand SE & Co. KG, Yokogawa Electric Corporation.
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