Pressure Transmitter Market Size & Trends
The global pressure transmitter market size was estimated at USD 2,401.6 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2030. The market is driven by increasing demand for accurate and reliable pressure measurement in various industrial applications. Pressure transmitters are widely used in industries such as oil and gas, chemical & petrochemical, and power generation industries.
The increasing demand for pressure transmitters in upstream, midstream, and downstream oil and gas applications, such as wellhead pressure monitoring, pipeline monitoring, and refinery processing, is expected to drive the market growth. Moreover, the increasing adoption of Industry 4.0, the growing trend towards smart factories in the U.S., and the introduction of new products with enhanced features and functionalities, such as wireless communication and remote monitoring capabilities, are expected to drive the market growth of the U.S.. There is an increasing demand for precise and consistent pressure measurement devices in various chemical processing applications. According to the American Chemistry Council, the U.S. chemical industry had a total revenue of USD 639 billion in 2022. The U.S. chemical and petrochemical industry produces a wide range of chemicals and chemical products, including plastics, synthetic fibers, fertilizers, pharmaceuticals, and speciality chemicals. The industry is characterized by its high degree of innovation and technological advancement, with significant investments made in research and development to create new products and processes. These aforementioned factors are further expected to drive the demand for the market over the projected period.
Report Coverage & Deliverables
Market Concentration & Characteristics
The market growth stage is medium, and the pace of the market growth is accelerating. The market is characterized by highly consolidated owing to the presence of several established players, which makes it difficult for small-scale manufacturers to compete with the presence of several established players, which makes it difficult for small-scale manufacturers to compete with global players.
The market is also characterized by a high degree of product innovation; for instance, many manufacturers are developing pressure transmitters that are equipped with wireless connectivity features such as Wi-Fi or Bluetooth, enabling remote monitoring and control of pressure levels. This feature is especially useful in offshore oil and gas facilities where the pressure transmitter may be located in a difficult-to-access area.
Pressure transmitter offers advanced diagnostic features, which includes real-time information, performance of the sensor and electronics systems for medical devices. This feature helps to reduce maintenance costs and downtime, as it can detect potential issues before they become critical. Which will further drive the demand for pressure transmitters over the forecast period.
End-user concentration is a significant factor in the market owing to a huge number of manufacturing and power generation industry facilities that require pressure transmitters.
Type Insights
Based on type, the differential-pressure transmitter segment led the market with a revenue share of 51.24% in 2023, due to its ability to accurately measure and transmit pressure differences between two points. It can be used for a wide range of applications, such as flow measurement, level measurement, and pressure measurement. They are also available in various types and configurations, including analog and digital, and can be customized to meet specific requirements.Further, it can withstand vibrations and other mechanical stresses, making differential-pressure transmitters ideal for use in industrial applications. The demand for absolute transmitters is expected to surge worldwide during the forecast period, owing to the increasing use of absolute transmitters to measure and transmit the absolute pressure of a fluid or gas, regardless of the atmospheric pressure. They are commonly used in various industries, such as oil and gas, pharmaceuticals, and food processing. The absolute transmitter is available in various types and configurations, including analog and digital, and can be customized to meet specific requirements of the consumers.
Sensing Technology Insights
Based on sensing technology, the Piezoresistive segment led the market with the largest revenue share of 46.4% in 2023. Piezoresistive pressure transmitters are used in a wide range of industries, including oil and gas, automotive, aerospace, and medical. They are known for their accuracy, reliability, and durability and can be used in harsh environments where other types of pressure transmitters may not be suitable. The piezoresistive pressure transmitters play a critical role in measuring pressure in a variety of applications such as oil & gas and the chemical industry, and their demand is expected to continue growing in the coming years. Capacitive pressure transmitters provide correct and consistent measurement and monitoring data, making them ideal for use in various industries such as oil and gas, chemical, pharmaceuticals, and food and beverage. They are preferred over traditional mechanical pressure measuring devices due to their higher accuracy, durability, and ability to perform in harsh environments. These transmitters can measure pressure within a range of 0.1% to 0.25% of the full-scale value and can withstand extreme temperatures, pressure, and vibrations.
End-use insights
Based on end-use, the oil and gas segment held the market with the largest revenue share of 20.43% in 2023. Pressure transmitters are widely used in the oil and gas industry to measure pressure in various processes and equipment. They play a critical role in ensuring the safe and efficient operation of oil and gas facilities. Pressure transmitters are used to measure the pressure in various equipment and processes on offshore oil and gas platforms. Further, it is also used to monitor the pressure in oil and gas storage tanks to prevent overpressure or under-pressure conditions that may cause safety hazards. Increasing demand for accurate and reliable pressure measurement in various processes and equipment will drive the market.
Pressure transmitters are also widely used in the water and wastewater treatment market to monitor the pressure in water and wastewater pumping systems to ensure optimal performance. It is also used to measure the pressure in various filtration and disinfection processes, such as reverse osmosis, ultrafiltration, and chlorination, which helps to ensure a safe and optimal pressure range for smooth operations. Many water and wastewater treatment utilizes the pressure transmitters to optimize the flow rates and to detect leaks and other issues that may affect the facility facilities utilize pressure transmitters to optimize the flow rates and to detect leaks and other issues that may affect the facility's performance.
Fluid Type Insights
Based on fluid type, the liquid segment led the market with the largest revenue share of 70.71% in 2023. Pressure transmitters are widely used for measuring pressure in liquids in various industries such as oil and gas, chemicals, pharmaceuticals, food and beverage, and water and wastewater treatment. Pressure transmitters are used for measuring pressure in various liquids, including corrosive and abrasive media. They can also be used in both hazardous and non-hazardous environments.
Pressure transmitters are widely used in the food and beverage industry for measuring pressure in steam. They play a critical role in ensuring the safe and efficient operation of steam systems used in various food processing applications. Pressure transmitters for steam in food applications are designed to comply with food safety regulations such as U.S. Food and Drug Administration and Hazard Analysis Critical Control Point (HACCP).
Application Insights
In terms of application, the pressure segment led the market with the largest revenue share of 49.51% in 2023, because the transmitter is used in flow applications and is designed to be highly accurate, reliable, and responsive to changes in pressure. Pressure transmitters are typically equipped with advanced features such as digital communication protocols, temperature compensation, and self-diagnostics to ensure optimal performance.
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