Pressure Transmitter Market Returns to Business as Usual After Recession
Dedham, Massachusetts; July 24, 2011: Driven by a stronger emphasis on plant asset management and safety applications, the worldwide market for Pressure Transmitters is expected to grow at above-average rates as capital investment programs continue to recover after the global recession. After dipping more than 10 percent in 2009 due to the effects of the global recession on the automation market, the pressure transmitter market saw a speedy and strong recovery in 2010, driven by increased business in the energy sector.
Pressure transmitter suppliers have benefited from renewed investment and expansion activities, and they have aligned their business goals to capitalize on growing industry segments and geographic regions that will enable them to increase market share. “Oil prices are on the rise again with the economic recovery, increased demand, and political and social unrest in the Arab world. This should continue to drive demand for pressure transmitters going forward, as higher prices favor increased exploration, production, and processing of fossil fuels,” according to Analyst Allen Avery (firstname.lastname@example.org), the principal author of ARC’s “Pressure Transmitter Worldwide Outlook” (www.arcweb.com/res/pt).
Pressure Transmitters Offer Increased Reliability, Accuracy, and Visibility
Pressure transmitters have evolved into highly capable and reliable process instruments, offering users better measurement accuracy, increased visibility into their production operations, and diagnostic tools to help detect problems with both plant equipment and processes. While the installed base of transmitters probably still works well, the question users should ask themselves is whether or not these devices, which may lack intelligence or the ability to take measurements within ever-tightening tolerances, are suitable for a business environment that demands more efficiency, reliability, and safety than ever before.
Strong Adoption of SIL-rated Transmitters
A new emphasis on safety will drive adoption of Safety Instrumented Systems and SIL-rated transmitters, which carry a much higher price tag than conventional, non-rated models. Plant owner-operators have begun to take the reliability and longevity of their key assets very seriously, and can be expected to implement plant asset management systems and smart instrumentation. Sales of wireless transmitters have increased substantially in recent years, and we expect that adoption rates will continue to be healthy in the future, particularly once wireless standards coalesce.
Asia and the Middle East Offer Highest Growth Potential
Regionally, suppliers can expect to see the largest growth in the Middle East due to its high concentration of oil and gas activities, and in Asia, where heavy investment in new plant construction continues in core sectors. In the mature North American and Western European markets, suppliers will largely rely on replacement business. Latin America will see above average growth, but remain a relatively small market for pressure transmitter suppliers.
For more information on this study, visit www.arcweb.com/res/pt
About ARC: Founded in 1986, ARC Advisory Group is the leading research and advisory firm for industry. Our coverage of technology from business systems to product and asset lifecycle management, supply chain management, operations management, and automation systems makes us the go-to firm for business and IT executives around the world. For the complex business issues facing organizations today, our analysts have the industry knowledge and first-hand experience to help our clients find the best answers. Further information can be obtained from ARC Advisory Group, Three Allied Drive, Dedham, MA 02026 USA, 781-471-1000, Fax 781-471-1100, Web www.arcweb.com.