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NEW YORK , June 21, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the revenue of the pressure transmitter market stood at $2,904.0 million in the year 2021, and it will touch $4,168.7 million by 2030, increasing at a compound annual growth rate of approximately 4% in the coming years. The market in the APAC region held the second-largest share, of about 26%, in 2021, and it will grow substantially in the coming years. The increasing need for electricity, growing chemical exports, rising number of industrial and utility-grade wastewater treatment plants, and surging oil & gas operations will drive the growth of the regional market.
Differential pressure transmitters held the largest share in the pressure transmitter market, of approximately 52%, in 2021. Pressure transmitters are mostly used in the oil & gas sector for the measurement of the flow, level, and pressure and critical process monitoring and control. Furthermore, they are used for the measurement of fluid density, fluid level, and fluid flow.
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Liquid fluid contributed the highest revenue, of $2,236.1 million , to the pressure transmitter market in 2021, which will progress at a growth rate of around 4% in the years to come. A submersible pressure transmitter is extensively used for the measurement of fluid pressure and level in non-hydrocarbon liquids, for example, in the water & wastewater treatment industry. Additionally, gauge pressure transmitters and differential pressure transmitters are often used for monitoring the hydrostatic levels of liquids in tanks and for the assessment of groundwater levels.
The level measurement application holds the largest share, of approximately 54%. Moreover, the market will grow at a rate of 4.4% in the coming years. Pressure transmitters are used to measure the fuel level in tanks in the petrochemical, chemical, water & wastewater treatment, and several other process industries. Further, they have negligible purchase and upkeep costs, are compact as compared to many other devices, and are easy to use, which makes them suitable for level measurement.
The water & wastewater treatment sector contributed $243.8 million to the pressure transmitter market in 2021, and it will touch $371.4 million in 2030, progressing at a rate of 4.8% in the coming years. Pressure transmitters are widely employed in this sector, globally, in sewage systems, pumping stations, chemical feeds, filtration facilities, wet wells, storage facilities, and mixing vessels.
Browse detailed report on Global Pressure Transmitter Market Size and Demand Forecast Report 2022-2030
The increase in the requirement for wireless pressure transmitters is among the noteworthy factors responsible for the market growth. Furthermore, these transmitters can be effortlessly fitted in remote areas and often have low costs of installation. Furthermore, transmitters that run on batteries are being used for pump monitoring, water tank level monitoring, wastewater monitoring, and leakage monitoring.
Pressure Transmitter Market Segmentation Analysis
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