The worldwide pressure transmitter market, which totaled $1.93 billion in 2006, is projected to show a yearly growth of 6.1 percent through 2011, according to a new study by Flow Research Inc. (www.flowresearch.com). The most rapid growth is occurring where new process plants are being built, primarily in China, the Middle East, and in developing countries in Asia.
Pressure transmitters are widely used in the oil and gas industry, where increases in the price of crude oil have generated a major increase in upstream activity. It is now profitable to drill for oil in many locations that were previously too expensive for oil exploration and production. Other industries where pressure transmitters are widely used include refining, chemical, and power.
Rapid growth in the multivariable transmitter market is also driving growth in the pressure transmitter market. The market for multivariable pressure transmitters for flow more than doubled in the past four years, the study found. In addition, a large number of current users reluctant to abandon their investment assures sustained growth in the differential-pressure transmitter market. Even when faced with a need for higher performance levels, many of these users will choose to stick with differential-pressure transmitter technology, as suppliers provide advanced features. A need for higher performance also encourages users to move up the ladder from pressure transducers to pressure transmitters.