A new market research report on the global trend and forecast of the pressure transmitter market up till 2020 recently published by marketsandmarkets estimated a five percent compound annual growth rate (CAGR) for the pressure transmitter market.

The market, estimated to be worth US$3.77 billion by 2020, is expected to benefit mostly from growth in the power, chemical, water and wastewater sectors. The growth will potentially derive from the pressing need to optimise resources and cut down on expenses.

The multivariable transmitter is expected to experience the highest growth rate among pressure transmitters, primarily due to their ability to measure multiple parameters, thereby reducing total process measurement cost. By producing three measurements from a single instrument, the multivariable transmitter saves on impulse piping, while reducing pipe penetrations.

While the most established market for pressure transmitters are found in North America, the bulk of the growth is expected to be driven by the Asia Pacific region