Overview:
The pressure transmitter market is showing a massive scope of scaling up to a valuation of USD 4 Billion by 2023 with a CAGR of 6% to cover the forecast period of 2018 to 2023. Market Research Future (MRFR) included several reasons in their report to analyze how the market will move forward. In its growth, the market will benefit from the rising intake of automation, demand for optimization of resources, efficient handling of situations, ability to curb the cost of production, demand from various industries to support a smooth workflow, and others are expected to bolster the market growth.
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Segmentation:
The global pressure transmitter market has been discussed by MRFR analysts on the basis of a segmentation that includes communication protocol, type, application, sensing technology, and vertical. Analysts have recorded changes and information from these segments to understand how the market is evolving.
By type, the global report on the pressure transmitter market comprises differential pressure, gauge, absolute, and multivariable pressure transmitters.
By communication protocol, the global review of the pressure transmitter market includes a study of Foundation Fieldbus, Profibus, HART (Highway Addressable Remote Transducer) and wireless HART, and others.
By sensing technology, the overview of the pressure transmitter market includes segments like capacitive, piezoelectric, strain gauge, piezoresistive, and others.
By application, the discussion on the pressure transmitter market comprises segments like flow, level, and pressure.
By vertical, the understanding of the global pressure transmitter market includes a study of food & beverage, oil & gas, pharmaceutical, pulp & paper, water & wastewater, chemical, power, metal & mining, and others. The oil & gas sector would impact the market in significant ways.
Regional Analysis:
North America is in charge of the market as per revenue collection from the market. Europe is holding the second position. Asia Pacific would record the highest CAGR to support the rising industrialization.
Competitive Landscape:
Yokogawa Electric Corporation (Japan), WIKA Alexander Wiegand SE & Co. KG (Germany), Emerson Electric Company (U.S.), Dwyer Instruments, Inc. (U.S.), Honeywell International, Inc. (U.S.), Endress+Hauser AG (Switzerland), ABB Ltd. (Switzerland), General Electric (U.S.), Schneider Electric SE (Germany), Siemens AG (Germany), and others are worthy companies of the global pressure transmitter market who engage themselves in transforming the market using effective marketing strategies. MRFR analysts have included discussions on recent changes introduced by these companies to inspire an understanding of various trends impacting the outcome.
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Industry News:
In August 2020, CAS Dataloggers announced that the launching of the new NP785, an ultra-low differential pressure transmitter developed by Novus Automation. The device has been designed to measure very small differential pressures in neutral and non-corrosive gases that are often found in labs, clean rooms, HVAC systems, and industrial environments. The NP785 can be used bi-directionally, where it will provide the ability to measure differential pressures from vacuum to positive pressure. The device includes a linear output and it has a measuring range configurable via USB.
The Easidew PRO XP explosion-proof dew-point transmitter has been now included as a part of Michell’s calibration exchange program. This will help customers keep their sensors calibrated and ensure a minimizing of downtime.
The global market report on the pressure transmitter market has a proper COVID-19 situation analysis. During the pandemic, the manufacturing sector got badly hit owing to which companies have reduced the intake of the device. The financial crunch also triggered some adverse effects, which can restrain the market from growing.
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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