Pressure Transmitter Transducer Market Overview

1. What is the Market Size & CAGR of Pressure Transmitter Transducer market in 2021?

In 2021, the global pressure transmitter transducer market is estimated to have a market size of USD 2.5 billion. The market is expected to grow at a CAGR of 5.3% from 2021 to 2026.

2. COVID-19 Impact on the Pressure Transmitter Transducer Market

The COVID-19 pandemic has had a significant impact on the pressure transmitter transducer market. Due to lockdowns and supply chain disruptions, the market witnessed a temporary slowdown in 2020. However, with the gradual reopening of economies, the market is expected to bounce back and witness growth in the coming years.

3. Pressure Transmitter Transducer Dynamics

The pressure transmitter transducer market is driven by factors such as increasing industrial automation, rising demand for accurate pressure measurement devices, and growing adoption of IoT technology in the manufacturing sector. Additionally, stringent government regulations regarding safety and quality control in industries are fueling the demand for pressure transmitter transducers.

4. Segments and Related Analysis

The pressure transmitter transducer market is segmented based on technology, type, end-user industry, and region. By technology, the market is categorized into piezoresistive, capacitive, electromagnetic, and resonant. By type, the market includes absolute pressure transmitters, gauge pressure transmitters, and differential pressure transmitters.

4.1 Technology

The piezoresistive technology segment dominated the market in 2021 due to its high accuracy and reliability. However, the capacitive technology segment is expected to witness significant growth in the forecast period.

4.2 Type

Among the types of pressure transmitters, gauge pressure transmitters held the largest market share in 2021. This is attributed to their wide application in various industries for measuring pressure relative to atmospheric pressure.

4.3 End-User Industry

The key end-user industries for pressure transmitter transducers include oil & gas, chemical, healthcare, food & beverage, and water & wastewater treatment. The oil & gas sector is the major consumer of pressure transmitters due to the need for accurate pressure monitoring in drilling operations.

5. By Region Analysis

The pressure transmitter transducer market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is a significant market for pressure transmitters, driven by the presence of a large number of oil & gas companies and the adoption of advanced manufacturing technologies.

6. Key Market Players and Competitive Landscape

The key players in the pressure transmitter transducer market include Emerson Electric Co., Honeywell International Inc., Siemens AG, ABB Ltd., and Yokogawa Electric Corporation. These companies are focusing on product innovation, strategic partnerships, and acquisitions to strengthen their market position.

7. Recent Happenings in the Pressure Transmitter Transducer Market

In recent developments, Emerson Electric Co. launched a new series of wireless pressure transmitters with IoT connectivity for real-time monitoring. Honeywell International Inc. introduced a compact pressure transmitter for use in HVAC systems. Siemens AG announced a strategic partnership with a leading industry player to enhance its portfolio of pressure transducer products.