QY Research has recently released its new report, titled “Global Pressure Transmitters Market Report, History and Forecast 2014-2025.”It is a specialized and in-depth study of the key market trends and the evolving machinery and equipment dynamics to understand the growth of the global pressure transmitters market. The report provides an overview of the global pressure transmitters market with detailed competitive landscape, regional analysis, and segmentation assessment present in the market.
According to the report, the global pressure transmitters market is anticipated to reach US$3110 mn by 2025 from US$2770 mn in the year 2018. The market is likely to register a CAGR of 1.7% over the forecast period of 2019-2025.
Global Pressure Transmitters Market: Drivers and Restraints
The pressure transmitter market is expected to witness strong growth due to technological advancements in consumer appliances and industrial sectors. The growing need for the maintenance of the extended shelf life of the industrial equipment, which requires a continuous flow of fluid, monitoring of fluids, and pressure controlling activities are expected to boost the growth of the market. In addition, pressure transmitters have the ability to resist electromagnetic fields and radiation that contribute to the growth opportunities for the market. Moreover, one of the major trends in the market is the availability of the smart product types, which have digital communication interfaces, due to which the demand for traditional analog output pressure transmitters is likely to propel the growth of the market in the coming years.
However, due to superior and innovative technology that is used in mechanical equipment and electronic gadgets, which requires a high cost of maintenance the market might experience a negative impact.
Global Pressure Transmitters Market: Segment Analysis
The global pressure transmitters market is segmented on the basis of application and product type. The product type segments include multivariable transmitters, absolute pressure transmitters, gauge pressure transmitters, and differential pressure transmitters. The application segment includes pulp & paper, chemical industry, metals, electric power generation, food & beverage, oil & gas, and water & wastewater.
Global Pressure Transmitters Market: Regional Analysis
In terms of regions, North America is the largest market for global pressure transmitters due to the expansion of the automotive industry and the high demand for electronic pressure transmitters. Asia Pacific is expected to grab a remarkable market share for pressure transmitters market because of rising demand from emerging economies such as India and China. The increasing infrastructural and industrial developments will augment the growth of the pressure transmitters in this region.
Global Pressure Transmitters Market: Leading Players
Huakong, Emerson (Rosemount), Guanghua, Yokogawa, Saic, Honeywell, Weltech, E+H, Wecan, Schneider (Foxboro), Danfoss, ABB, Fuji, Siemens, Azbil (Yamatake), and SMAR are the major players that are operating in the global pressure transmitters market.
Global Pressure Transmitters Market: Competitive Landscape
In April 2019, Schneider has announced the opening of its new office in Pune, India. This new office will showcase Schneider’s electric products and solutions that enhance the efficiency of the employees to serve the customer quickly. Companies are planning to expand their business to generate ample growth opportunities and earn higher revenues.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076473/global-pressure-transmitters-market