DUBLIN, Jan. 26, 2016 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/wt97tk/pressure) has announced the addition of the "Pressure Transmitter Market - Global Trend & Forecast to 2020" report to their offering.
The pressure transmitter market is expected to grow from $2.82 Billion in 2014 to $3.77 Billion by 2020, at a CAGR of 5.0% between 2015 and 2020.
Pressure measurement is one of the most critical process parameter in various industries. Growing automation across all process industries in order to optimize the resources and improve the cost, safety, and security is driving the growth of the pressure transmitter market.
The power industry is expected to grow at the highest rate in the global pressure transmitter market during the forecast period, followed by chemical, pharmaceutical, and water & wastewater industry. The growing electrification, access to electricity, and energy intensity is pushing the demand for electricity which in turn, leads to new installation and capacity expansion of the existing power plants, thus this would lead for greater demand for pressure transmitter in the near future.
Multifold growth in oil and gas industry especially due to shale gas and oil sands revolution in past few years has made North America the dominant region in the global pressure transmitter market in 2014, as pressure transmitters are most widely used in oil & gas industry to measure various process parameters.
However, the Asia-Pacific is expected to grow at the highest rate for the pressure transmitter market between 2015 and 2020. The pressure transmitter market is expected grow at the highest rate owing to demand from capacity expansion, new project commissioning, and demand for industrial automation, to increase productivity while keeping the cost optimum.
On the other hand, the fall in crude oil prices is inhibiting the growth of the pressure transmitter market as it is stalling the installation and commissioning of the new projects in oil & gas industry across the globe which is a key user of such products.
Companies Mentioned:
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Pressure Transmitter Market, By Type
8 Pressure Transmitter Market, By Communication Protocol
9 Pressure Transmitter Market, By Sensing Technology
10 Pressure Transmitter Market, By Fluid Type
11 Pressure Transmitter Market, By Industry
12 Pressure Transmitter Market, By Application
13 Pressure Transmitter Market, By Geography
14 Competitive Landscape
15 Company Profiles
For more information visit http://www.researchandmarkets.com/research/wt97tk/pressure
Media Contact:
Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets
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