NEW YORK, Feb. 2, 2016 /PRNewswire/ --
"The pressure transmitter market is expected to grow at steady growth rate"
The global pressure transmitter market was valued at USD 2.82 billion in 2014, and it is expected to reach USD 3.77 billion by 2020, growing at a CAGR of 5.0% during the forecast period. The demand from power, chemical, pharmaceutical, and water & wastewater industries are expected to contribute to growth of global pressure transmitter.
"Multivariable pressure transmitter is expected to grow at the highest CAGR"
The market for multivariable transmitter is expected to exhibit the highest growth rate as single instrument can measure multiple parameters and reduce the total process cost as compared to other measurement instruments. Multivariable transmitters directly compute the mass flow or standard volume flow for gases, steams, and liquids (hydrocarbon and non-hydrocarbon) with dynamic flow compensation from the parameters such as differential pressure, static pressure, and temperature. Multivariable transmitters reduce pipe penetrations and save on impulse piping with three measurements from a single instrument.
"Asia-Pacific is expected to drive the pressure transmitter market"
Asia-Pacific is expected to register the highest growth rate during the forecast period in the pressure transmitter market because of emphasis on industrial automation and optimum utilizations of resources as growing urbanization and industrialization is putting pressure on available resources. Increasing labor cost even in developing countries is making the companies especially in the process industries to increase the degree of automation at the plant or field which not only results, in term of cost saving, but also help them to ensure the safety and security of the staff.
Breakdown of profile of primary participants
- By Company Type: Tier 1 - 55 %, Tier 2 - 20% and Tier 3 - 25%
- By Designation: C-level - 30%, Manager level - 55%, Others - 15%
- By Region: North America - 10%, Europe - 20%, APAC - 40%, RoW - 30%
Major players in pressure transmitter market are Emerson Electric Company (U.S.), Yokogawa Electric Corporation (Japan), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (Germany), WIKA Alexander Wiegand SE & Co. KG (Germany), and Dwyer Instruments, Inc. (U.S.).
Reasons to Buy the Report:
The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the pressure transmitter market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the pressure transmitter market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, partnerships, new product developments, mergers and acquisitions.
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