Emerging from a period of recession, process industries saw an uptick in 2010, which drove the pressure transmitter market to positive growth the following year on strong demand from the oil & gas, chemical, and electric power industries, according to a report by ARC Advisory Group.
The continued emphasis on Plant Asset Management (PAM) supported adoption of smart pressure transmitters, as end-users continue to seek solutions for reducing maintenance cost and increasing production availability.
ARC expects positive growth in the worldwide market for pressure transmitters to continue in 2014.
“Advanced transmitters, such as multivariable transmitters, wireless transmitters, and transmitters with diagnostic capabilities dictate higher prices and help drive the pressure transmitter revenues,” according to ARC Analyst Inderpreet Shoker, the principal author of ARC’s Pressure Transmitters Global Market Research Study.
For more on ARC’s pressure transmitter market study, click here.