Pressure Transmitter Market

Market Leaders - Pressure Transmitter Market

The global pressure transmitter market size is expected to grow from USD 2.9 billion in 2022 to USD 3.5 billion by 2027, at a CAGR of 3.6%. The growth in the need for real-time data analysis and predictive maintenance systems along with the necessity to implement automation solutions, especially across process industries, are the key factors driving the pressure transmitter market.

The key players operating in the pressure transmitter market include the major players which operates in different stages in the entire value chain of pressure transmitters; these players are Emerson (US), ABB (Sweden), Endress+Hauser (Switzerland), Schneider Electric (France), and Yokogawa (Japan). For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including increasing investments in R&D (research & development) and new product launches, increasing number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions etc.

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Emerson is one of the prominent players in the automation and measurement & analytics solutions business. Its Automation Solutions segment, which offers pressure measurement solutions and other analytical instruments, is the largest contributor to the overall revenue generation. The company is committed to enhancing and expanding its product portfolio through continuous innovation and research and development (R&D). This approach enables it to cater to a large and diverse customer base from the oil & gas, chemical, power generation, automotive, refining, pulp & paper, and life sciences industries. In 2021, Emerson signed a definitive agreement with AspenTech to contribute to its industrial software business by developing high-performance industrial software to serve its customers from different segments of the industrial sector. This strategy would enable Emerson to accelerate and scale its software investment strategy and create an innovative product portfolio. Emerson’s regional manufacturing strategy, coupled with strong supplier relationships and multi-sourcing arrangements, has enabled it to effectively mitigate the challenges raised during the COVID-19 crisis and achieve optimum financial performance.

Endress+Hauser is one of the leading manufacturers of pressure transmitters and other measurement and analytics instruments. To stay competitive, in FY2021, Endress+Hauser launched more than 70 new products and 1,000 device options. To ensure that its products are innovative and can boost its market position, Endress+Hauser invests significantly in R&D. In FY2021, it invested 7.4% of its total revenue in R&D, targeted toward the development of new and innovative products, solutions, and services. In FY2021, Endress+Hauser applied for 258 initial patent filings at patent offices worldwide. With a continued focus on innovation, the company has filed more than 8,600 patent applications. With more than 1,200 employees, the company is working on developing new products, solutions, and services. In FY2021, Endress+Hauser and ifm, a global manufacturer of sensors and controls for industrial automation, set up a joint venture. Under the brand name Automation24, the company, along with its partners, has started operating a manufacturer-independent online trading platform for automation products. The joint platform is intended to be open to other companies for participation. To tackle the challenges of digitalization, the company is increasingly focusing on strengthening its relationships with its partners. Endress+Hauser is one of the founding members of the Open Industry 4.0 Alliance and the Industrial Digital Twin Association. Other founding members of the alliance include Hilscher, ifm, KUKA, Beckhoff, SAP, and Multivac. The partnership is set up with the mission of advancing digitalization in the process industry in which all companies are committed to developing a standardized and open ecosystem for the operation of highly automated process plants and factories.

Yokogawa is one of the leading companies in the industrial automation and control business. The company’s wide product portfolio helps it cater to different customers and withstand demand–supply fluctuations arising in its business segments, enabling it to maintain a strategically balanced position in the market. The company highly invests in R&D to design and develop best-in-class products with room for customization to cater to customers’ specific requirements. In FY2021, the company invested 7.2% of its total revenue in R&D. In addition, the company has delivered high operational performance year after year owing to its efficient cost management system. The company’s net margin increased from 3.6% in FY2020 to 5.1% in FY2021.

Related Reports:

Pressure Transmitter Market by Sensing Technology, Type (Absolute, Gauge, Differential Pressure, and Multivariable), Fluid Type (Liquid, Gas, and Steam), Application (Level, Pressure, and Flow), Industry and Region - Global Forecast to 2027

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Report Code
SE 4003
RI Published ON
5/23/2022
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