Global Pressure Transmitters Market to Register a CAGR of 1.7% between 2019 and 2025

Publisher: QYResearch
Published Date: 2019/8/2

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.

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.

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