Pressure Transmitter Market Size and Share Analysis by Sensing Technology (Capacitive, Piezoresistive, Piezoelectric, Strain Gauge), Type (Absolute, Gauge, Differential Pressure, Multivariable), Fluid Type (Liquid, Gas, Steam), Application (Level, Pressure, Flow), Industry (Oil & Gas, Chemical, Water & Wastewater Treatment, Power, Metals & Mining) - Global Industry Growth Forecast to 2030

Market Overview

The global pressure transmitter market revenue was $2,904.0 million in 2021, and it is expected to reach $4,168.7 million by 2030, at a CAGR of around 4.1% during 2021–2030. The APAC market held the second-largest share, i.e., around 26.3% of the overall market, in 2021, and it will show substantial growth during the forecast period. The growing need for electricity, increasing chemical exports, and expanding utility-grade and industrial wastewater treatment plants, and rising oil and gas operations are likely to fuel the regional market growth.

The rise in the adoption of industrial automation across the globe, owing to its benefits such as improved product quality, increased productivity, lower operational costs, and the preservation of health and safety, is another of the major factors driving the market. The preference of both the process and discrete sectors for implementing automated systems and digital communication interfaces over traditional, analog transmitters for remote calibration and diagnostics is further driving the pressure transmitter market growth, as these technologies result in improved plant efficiency.

Differential Pressure Transmitter Is Most-Popular Pressure Transmitter Type

Differential pressure transmitters held the largest share, of nearly 51.5%, of the overall global market in 2021. 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.

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Steady Rise in Adoption of Multivariable Pressure Transmitters

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.

Pressure Transmitters Majorly Used to Measure Parameters of Liquids

The liquid fluid type is the highest revenue generator in the market, accounting for $2,236.1 million revenue in 2021, which is projected to grow at a CAGR of around 4.1% during 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.

Low Cost of and Technological Advancements in Level Measurement Devices

In 2021, the level measurement application category accounted for the largest share, of nearly 54.0%. Additionally, the level measurement application market will likely witness a CAGR of 4.4% over this decade. 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.

Wireless Transmitters Are High in Demand

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, in October 2021, Honeywell announced the introduction of SmartLine, a scalable, secure, flexible, and cost-effective wireless pressure transmitter solution for pressure detection, control, and monitoring, 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.

Water & Wastewater Treatment Industry To Witness Fastest Product Demand Growth

In terms of revenue, the water & wastewater treatment industry generated $243.8 million in 2021 for the global pressure transmitter market, and it is expected to reach $371.4 million by 2030, growing with a CAGR of 4.8% during the forecast period. 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.

To Increase Market Share, Companies Involved in Several Strategic Developments

To remain competitive, players in the global market have undertaken a range of strategic developments. For instance:

• In February 2022, KROHNE Group announced the introduction of two new pressure transmitters—the OPTIBAR PSM 1010 and OPTIBAR PSM 2010—mainly designed for gauge and absolute pressure measurement for liquids and gases.
• In January 2022, Danfoss launched the DST P650 pressure transmitter equipped with a scalable and smart diagnostics platform and designed for severe environments.
• In June 2021, Huba Control launched the 555 pressure transmitter, which is designed for alternative-drive systems and appropriate for high-temperature applications. Type 555’s rugged and compact design allows for shock and vibration stability, which further enables long-term durability.

Top Players in Global Pressure Transmitter Market Are:

• Emerson Electric Co.
• ABB Ltd.
• Yokogawa India Ltd.
• Schneider Electric
• Siemens
• Honeywell International Inc.
• Danfoss
• Fuji Electric Global
• Hitachi High-Tech Corporation

Pressure Transmitter Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Sensing Technology

• Capacitive
• Piezoresistive
• Piezoelectric
• Strain Gauge

Based on Type

• Absolute
• Gauge
• Differential Pressure
• Multivariable

Based on Fluid Type

• Liquid
• Gas
• Steam

Based on Application

• Level
• Pressure
• Flow

Based on Industry

• Oil & Gas
• Chemical
• Water & Wastewater Treatment
• Power
• Metals & Mining

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Italy
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
• Latin America
  • Mexico
• Middle East and Africa
  • South Africa