Abstract
System Integration Measures and Key End Users to Boost Growth
Industry focus on asset management to better production costs and product quality offers new growth opportunities to the largely technology-mature pressure transmitter market. In a bid to overcome a flat economy, several industries are streamlining their capital flow, boosting the demand for smart pressure transmitters. These transmitters aid in the seamless integration of systems, helping asset management processes such as data collection and linkage with other tracking systems, creating the most effective way of both valuing and maintaining resources. Additional demand for pressure transmitters is arising from the pharmaceutical/biotechnology and food and beverage sectors.
This Frost & Sullivan research service examines the North American pressure transmitter markets segmented by the following types: differential pressure, absolute, gauge, and multivariable. The research addresses market size and growth for the total North American market as well as its three country sub segments. It also discusses prevailing market challenges, trends, and competitive issues.
Multivariable Technology and Smart Units Promise Significant Growth
The relatively recent and evolving multivariable transmitters are a dynamic segment as the technology is growing in use. Driven by the continual emphasis on cost reduction in process plants, an increasing number of manufacturers are adding multivariable units to their production lines. "The most significant impetus for current and expected growth is cost savings," says the analyst. Key end users such as the chemical and petrochemical industries are attracted not only by the lower purchase price per unit, instead of two separate (pressure, temperature) units, but also the savings of having to install and maintain one unit versus two units.
Though the growth of smart units within the pressure transmitter domain has been restrained, due to huge installed base of traditional systems, they are now poised to be a predominant growth segment. As success stories spread, users have begun to migrate to digital systems, so much so that analog and non-repairable types of transmitters are expected to actually shrink in size. End-users prefer smart pressure transmitters due to their invaluable benefits including improved accuracy, lower commissioning and lifecycle costs, advanced computation and diagnostic capabilities, smoother two-way communication and integration with control room parameters.
Focus on Key Industries and Wide Product Lines are Vital to Success
To gain ground and stay ahead of competition, companies must widen their product range while maintaining a sharp focus on key industries. Expansion of product lines can aid in combating price drops and declining demand in individual product segments as well as in achieving revenue stability. "Venturing into modern technology areas, including wireless, smart, and multivariable units, gives companies the much required 'edge' to stand ahead of competition," says the analyst. Acquiring a complete 'toolkit' of products helps tackle various challenges arising from monitoring process plants.
Most market frontrunners are currently successful due to their knowledge base and are expected to continue to be strong participants. Achieving in-depth knowledge of industry verticals lends vendors significant credibility with their customers and allows them to be 'solutions providers,' not just 'sellers of equipment.' This ties in well with the customers' need of systems integration at all levels and is likely to boost vendors' standing in the market. | 
View Cart
