Global Pressure Gauge Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Pressure Gauge Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global pressure gauge market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global pressure gauge market size reached US$ 879.9 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,100.6 Million by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
A pressure gauge serves as a precise instrument designed for quantifying the pressure being exerted by gases, liquids, or steam within a sealed system. Crafted from top-tier materials, such as stainless steel and a variety of corrosion-resistant alloys, it guarantees resilience against environmental conditions. This instrument currently showcases either a dial or digital display featuring calibrated unit markings, including pounds per square inch (psi), bar, or kilopascals (kPa), facilitating easy pressure value interpretation. Available in a diverse array of designs and types, each tailored for specific applications and pressure ranges, it is continuously providing real-time pressure data to ensure machinery and equipment operate with efficiency. This is imperative for maintaining optimal working conditions and averting pressure-related accidents and equipment failures. In aviation systems, it plays a crucial role in continuously monitoring cabin pressure, hydraulic equipment, and fuel pressure to enhance aviation safety and performance. Similarly, in the oil and gas sector, it fulfills an essential role in the continual monitoring of fluid pressure in pipelines, wellheads, and storage tanks. This unceasing monitoring of pressure ensures the integrity and safety of critical systems in various industries.
Global Pressure Gauge Market Trends and Drivers:
The market is currently experiencing a substantial push due to the heightened focus on workplace safety in high-risk environments, including chemical plants and oil refineries. This emphasis on safety measures is a driving force for market growth. Moreover, there is a noteworthy trend in the integration of digital technology into pressure gauges, enabling remote monitoring and data analysis, which augurs well for the market’s future prospects. Furthermore, the healthcare sector is witnessing an increasing deployment of pressure gauges to enhance the efficiency of anesthesia delivery systems and laboratory equipment. This application is playing a pivotal role in supporting market expansion. In a global context, smart pressure gauges are gaining traction, thanks to the surging utilization of Internet of Things (IoT) devices. These devices facilitate real-time data analysis, predictive maintenance, and process optimization, contributing to the widespread adoption of smart pressure gauges. Additionally, the market is benefiting from a rising demand for pressure gauges that come equipped with efficient features ensuring compliance with industry-specific standards and certifications, thereby promoting safety. Lastly, the incorporation of pressure gauges into broader control systems for seamless monitoring and control of various parameters in industrial processes is providing a substantial boost to market growth.
Global Pressure Gauge Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: AMETEK Inc., Badotherm, CIRCOR International Inc., Crane Co., Dwyer Instruments Inc., Emerson Electric Co., Fluke Corporation (Fortive Corporation), Honeywell International Inc., Newbow Aerospace Ltd., OMEGA Engineering Inc. (Spectris plc), QED Aerospace, WIKA Alexander Wiegand SE & Co. KG and Winters Instruments Limited.
The report segmented the market on the basis of region, output type, technology and application.
Breakup by Output Type:
- Analog
- Digital
Breakup by Technology:
- Piezoresistive Pressure Gauge
- Capacitive Pressure Gauge
- Electromagnetic Pressure Gauge
- Resonant Solid State Pressure Gauge
- Optical Pressure Gauge
Breakup by Application:
- Aviation and Defense
- Automotive
- Healthcare
- Energy
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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