The pressure transmitter & transducer market is expected to register a CAGR of 4.1% over the forecast period (2020 - 2025). These sensors measure pressure, level, flow, and derivatives by physically responding to the changes in process pressure, converting the physical movement into an electrical signal.
- The increased emphasis on industrial automation is expected to drive the market. With the concept of Industry 4.0 coming into the picture, the industries have been evolving themselves to adopt the latest technological changes by investing heavily in infrastructural development.
- There has been a continued focus on optimum utilization of resources. As the government reforms tighten, the pressure on the industries increases in order to increase efficiency and reduce emissions and harmful waste products.
- The recurring failures associated with pressure transducers restraints the growth of the market. Due to the dysfunctioning, the user has to pay large sums in order to mitigate the damages.
Scope of the Report
A pressure transducer is often called a pressure transmitter, is a component that converts pressure into an analog electrical signal. Due to the presence of various types of pressure transducers in the market, one of the most common is the strain-gage base transducer. The conversion of pressure to an electrical signal is achieved by the physical deformation of strain gages which are bonded into the diaphragm of the pressure transducer and wired into a Wheatstone bridge configuration. Pressure applied to the pressure transducer usually produces a deflection of the membrane, which introduces strain to the gages. The tension will create an electrical resistance change proportional to the pressure.
Key Market Trends
Medical is Expected to Hold a Significant Market Share.
- Reliable hemodynamic and cardiovascular data is essential to measure the criticality of the patients. Pressure transducers are used to continuously relay blood pressure information from a pressure monitoring catheter (arterial line, central venous pressure line, or other pressure monitoring products) to the patient's monitoring system. This is a mission-critical application where your product cannot be allowed to fail.
- This integration assures a very high degree of robustness and reliability and also enables ease of use and space saving that is much needed in Intensive Care Units and Operating Rooms. These advantages will provide you the peace of mind and the leading edge you need when sourcing a sensitive device such as Disposable Pressure Transducer.
- Hospital steam sterilizers used in medical applications require that pressure transducers be compatible with both high-pressure steam as well as biological contaminants. Pressure transducers monitor the pressure inside the sterilization chamber for regulation of steam quality. With the IoT connected devices increasing the adoption rate of smart pressure transducer will follow the same trend due to smart characteristics.
North America is Expected to Hold a Significant Market Share.
- The increasing complexity of applications, with requirements for multiple sensing functions, will drive demand. However, the need for these sensing function is not always at the same location, and this will limit demand. Furthermore, with multifunction sensing in one package, if one sensor fails, a more expensive sensor unit has to be replaced. This also will tend to limit growth in demand for these products.
- The industrial development has been massive in the United States regions. The introduction of Industry 4.0 has lead to an ecosystem which consists of multiple connected devices. Due to the increased competition in the industrial sector in the United States, special attention is given to achieve high-performance efficiencies in order to achieve optimization as well as to reduce performance failures.
- The ongoing trend in the market is the introduction of smart product types with digital communication interfaces. This is expected to increase the adoption rates substantially. Other benefits become available with the inclusion of intelligence in the transmitters such as self-calibration, remote calibration and ranging, and self-diagnostics.
The pressure transmitter & transducer market is highly competitive and consists of a significant amount of players. In terms of market share, none of the major players currently dominate the market. The manufacturers are engaging in mergers and acquisitions in order to gain competitive advantage.
- October 2018 - HITEC Sensor Developments, a leading designer and manufacturer of custom load cells and strain gage based force and torque sensors announced the acquisition of Aero Sense Technologies, a leading manufacturer of custom sensors for aerospace and industrial customers.
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