The latest research study “Pressure Gauge Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global pressure gauge market reached a value of US$ 849.34 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,070.97 Million by 2027, exhibiting a CAGR of 3.82% during 2022-2027.
Pressure gauges are devices commonly used to measure the pressure of fluids, gases, water, or steam to maintain product consistency, perform safety checks, and prevent leaks in a system. They consist of mechanical linkages that are used to measure both static and variable pressures. They are available in various designs, display units, and pressure ranges customized to specific industry applications, such as mining, petrochemical, power stations, and environmental technology. At present, several manufacturers are incorporating additional safety features into pressure gauges, including blow devices to safeguard workers from potential injuries due to leakages or explosions.
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Pressure Gauge Market Trends:
The global pressure gauge market is primarily driven by rising product utilization in the petrochemical industry for measuring oil and gas production. Additionally, the increasing demand for petrochemicals in consumer goods, including household items, personal care products, automotive parts, and appliances, is positively influencing the market growth. Moreover, pressure gauges are widely used in the automotive industry for measuring fuel levels in the tanks of heavy-duty trucks and buses that run on liquified or compressed natural gas (CNG).
In line with this, the escalating demand for heavy-duty vehicles to transport essential goods and daily necessities has catalyzed market growth. Besides this, the increasing use of pressure gauges in medical equipment, such as angioplasty inflation devices, anesthesia equipment, medical regulators, respiratory equipment, and dental systems, due to the rise in chronic diseases and the sudden COVID-19 pandemic outbreak, is another major growth-inducing factor. Other factors, including the introduction of digital pressure gauges, rising demand for ventilators and other medical equipment, and technological advancements, are also anticipated to propel the market growth.
Pressure Gauge Market 2022-2027 Competitive Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Major Players Covered:
- AMETEK Inc.
- CIRCOR International Inc.
- Crane Co.
- Honeywell International Inc.
- Newbow Aerospace Ltd.
- OMEGA Engineering Inc. (Spectris plc)
- Dwyer Instruments Inc.
- Emerson Electric Co.
- Fluke Corporation (Fortive Corporation)
- QED Aerospace
- WIKA Alexander Wiegand SE & Co. KG
- Winters Instruments Limited.
Key Market Segmentation:
The report has segmented the market on the basis of output type, technology, application and region.
Breakup by Output Type:
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
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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