Pressure Transmitter Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024 - 2030)

Pressure Transmitter Market Trends & Growth Drivers

Multivariable Pressure Transmitters Are Major Trend

• The mass flow is measured and calculated as a function of absolute pressure, temperature, and differential pressure by the multivariable transmitter.
• Its main advantage is that it just requires one device as opposed to a mass flow calculator and many transmitters.
• These transmitters assist in improving productivity, plant safety, and process efficiency, while cutting the ownership expenses dramatically.
• Furthermore, multivariable transmitters bring together integrated sensors, microprocessor technology, and dynamic flow adjustment to provide precise flow measurements consistently.
• Within the differential pressure transmitter and flowmeter industries, the trend of multivariable transmitters is expected to continue, as these products often cost lesser compared to buying the transmitters separately.
• Therefore, the increasing demand for multivariable pressure transmitters will offer lucrative opportunities to the major market players during the forecast period.

Rising Demand for Wireless Transmitters Is Key Market Driver

• The growth in the demand for wireless pressure transmitters is one of the most-important factors driving the development of the pressure transmitter market.
• Furthermore, new installation of such transmitters is becoming more common.
• These devices can be easily installed in remote regions and frequently offer reduced installation costs, by eliminating wiring runs. Moreover, battery-powered transmitters are filling the void.
• They have a wide range of applications, including water tank level monitoring, pump monitoring, wastewater monitoring, and leakage monitoring.
• For instance, Honeywell International Inc.’s Smart Line is a scalable, secure, flexible, and cost-effective wireless pressure transmitter solution for pressure detection, control, and monitoring, which works in combination with its wireless network technology.
• The enhancement of the XYR 6000 wireless transmitter allows users to select the wireless protocol best suited to their individual process automation applications.

Integration with Existing Industrial infrastructure Poses Challenges

• A key challenge for the market is the difficulties in integrating pressure transmitters with the existing infrastructure.
• Since these components are part of an overall automation approach, the entire industrial infrastructure might need to be modified.
• This may involve the integration of a range of wires or wireless sensors, transducers, and actuators, laying miles of wires or establishing an M2M IoT connection, and procuring advanced operational software, with robust cybersecurity tools being an additional investment.
• Moreover, employees used to traditional systems may be averse to the new changes, especially if jobs are at stake.
• Additionally, global geopolitical conflicts, such as the Russia–Ukraine War, Israel’s frequent altercations with Hamas and Hezbollah, U.S. sanctions on Chinese firms, and the ever-volatile Indo–Pak situation, disrupt supply chains and limit the availability of components and the final products.
• This increases the purchase price and forces companies to buy local products, which are less reliable and prone to breakdowns.

Pressure Transmitter Market Analysis

Insights by Type

Differential pressure transmitters hold the largest share, of 40%, of the overall global market in 2024. These pressure transmitters are preferred in the oil and gas industry for flow, level, and pressure measurement, which are critical for process monitoring and control. In addition, they are also used for measuring fluid density, fluid flow, and fluid level.

Furthermore, differential pressure transmitters can be based on any of the pressure sensing technologies, and they are used for level detection and flow measurement in the aforementioned industries using primary elements, such as orifice plates, venturi tubes, flow nozzles, low-loss flow tubes, and pitot tubes. Thus, in January 2021, Superior Sensor Technology announced improved differential pressure sensors for industrial applications that allow up to seven configurable pressure ranges in a single device.

The multivariable category is the fastest-growing, with a CAGR of 4.6%. This is because just one of these devices can measure pressure, flow, and temperature, this eliminating the need for individual devices and reducing operating costs.

The following types of pressure transmitters are covered in this report:

• Absolute
• Gauge
• Differential (Largest Category)
• Multivariable (Fastest-Growing Category)

Insights by Fluid Type

The liquid fluid type is the highest revenue generator in the market in 2024. It will also witness the highest CAGR, over the forecast period. A submersible pressure transmitter is widely used for fluid pressure and level measurement in non-hydrocarbon liquids, such as in the water and wastewater treatment sector. Differential and gauge pressure transmitters are frequently used to monitor the hydrostatic (resting pressure) liquid levels in tanks and for groundwater pump water level assessment.

The report contains analysis on the below-mentioned fluid types:

• Liquid (Largest and Fastest-Growing Category)
• Gas
• Steam

Insights by Technology

The piezoresistive category dominates the market in 2024, with 40% share. It will also witness the highest CAGR in the forecast period, of 5.2%. This is attributed to the high popularity of this technology in the oil & gas, healthcare, automotive, and aerospace industries on account of their durability, precision, accuracy, and ability to work under harsh conditions.

We have analyzed the following technologies:

• Capacitive
• Piezoresistive (Largest and Fastest-Growing Category)
• Piezoelectric
• Strain Gauge
• Others

Insights by Application

In 2024, the level measurement application category accounts for the largest share. Pressure transmitters are frequently used to measure the level in fuel tanks in the chemical, water & wastewater treatment, petrochemical, and a variety of other process sectors. Furthermore, Pressure transmitters offer ease of usage, minimal purchase and maintenance costs (owing to no moving parts), and compact nature over other field devices, thus making them appropriate for level measurement applications.

Flow measurement is the fastest-growing category, during this decade. Accurate measurements of the flow rate are critical in process industries, such as chemicals, oil & gas, and water & wastewater. As these industries grow, so will the usage of pressure transmitters for flow rate measurement.

What follows is the application breakdown of the market:

• Level (Largest Category)
• Pressure
• Flow (Fastest-Growing Category)

Insights by Industry

The water & wastewater treatment industry dominates the market in 2024. It is also forecast to register the highest CAGR, of 5.8%, over this decade. Pressure transmitters are utilized in the water & wastewater treatment sector all over the world, in pumping stations, sewage systems, chemical feeds, wet wells, filtration facilities, storage facilities, and mixing vessels.
Key applications include monitoring and managing fluid level, flow, and pressure in treatment facilities. Pressure transmitters are employed at several phases of the wastewater treatment process, including biological, tertiary, secondary, and primary treatment.

The below-mentioned are the key industries studied in the report:

• Oil & Gas
• Chemical
• Water & Wastewater Treatment (Largest and Fastest-Growing Category)
• Power
• Metals & Mining
• Others

Geographical Analysis

• North America has the largest share in the pressure transmitter market, of 45% in 2024.
• This is attributed to the presence of highly productive and continuously expanding chemicals, power generation, and oil & gas industries in the region.
• Despite the Middle East being the richest in hydrocarbons, the U.S. is the world’s largest crude oil producer, registering an output of 13,264,000 bpd in 2023.
• The APAC market will showcase the fastest growth during the forecast period, with 5.0% CAGR.
• The growing need for electricity, increasing chemical exports, and expanding utility-grade and industrial wastewater treatment plants, and rising oil & gas operations are likely to fuel the regional market growth.
• At the root of all is the huge population of the region, led by China and India, which are home to almost a third of the world’s population.
• This has prompted regional governments to expand and modernize their utilities and industrial infrastructure.

The following is the regional breakdown of the market:

• North America (Largest Regional Market)
  • U.S. (Larger and Faster-Growing Country Market)
  • Canada
• Europe
  • Germany (Largest and Fastest-Growing Country Market)
  • France
  • Italy
  • U.K.
  • Italy
  • Rest of Europe
• Asia-Pacific (APAC) (Fastest-Growing Regional Market)
  • China (Largest Country Market)
  • Japan
  • India (Fastest-Growing Country Market)
  • South Korea
  • Australia
  • Rest of APAC
• Latin America (LATAM)
  • Mexico
  • Brazil (Largest and Fastest-Growing Country Market)
  • Rest of LATAM
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia (Largest and Fastest-Growing Country Market)
  • U.A.E.
  • Rest of MEA

Pressure Transmitter Market Share

The market is fragmented, mainly on account of the diversity of applications across industries. Additionally, pressure transmitters do not have stringent regulations imposed on them for eco-friendliness or energy efficiency, which allows even small, local companies to proliferate in the market. Additionally, the smaller companies offer more-affordable products compared to global giants, thereby enjoying the preference of mid-size industrial entities.

Pressure Transmitter Market News

• In August 2024, Yokogawa Electric Corporation launched the OpreX OPC UA Management Package and OpreX Open Automation SI Kit under its OpreX control and safety portfolio of industrial automation solutions.
• In July 2024, Emerson Electric Co. launched the Ovation 4.0 automation platform with generative AI capabilities for water and power utilities.
• In July 2024, Schneider Electric SE became a key sponsor of Paris Olympics and Paralympics 2024 in the area of climate goals.
• In May 2024, ABB Ltd. made a minor investment in Industrial, a developer of industrial process and equipment monitoring technologies.