Pressure transmitters in demand
February 2008
News
A new research study finds strong growth for the worldwide pressure transmitter market. The study from Flow Research, called The World Market for Pressure Transmitters, 2nd Edition, found that worldwide pressure transmitter sales totalled $1,93 billion in 2006, with a projected yearly growth of 6,1% through 2011. 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, which is currently undergoing rapid growth. Increases in the price of crude oil have generated a major increase in upstream oil and gas activity. It is now profitable to drill for oil in many locations that were previously too expensive for oil exploration and production. Other industries include refining, chemical, and power.
Rapid growth in the demand for multivariable transmitters is underpinning the trend. The market for multivariable transmitters for flow more than doubled in the past four years, the study found. The need for higher performance is also encouraging users to move up the ladder from pressure transducers to pressure transmitters.
According to Dr Jesse Yoder, president of Flow Research, the future looks bright for pressure transmitters: "Instrumentation markets are riding a wave of capital expansion in the process industries that began in 2004. Pressure transmitters are benefiting from that expansion. Growth in the process industries, together with increased activity in the oil and gas industry, is expected to drive the pressure transmitter market to new revenue levels in the next several years."
For more information visit www.flowresearch.com
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