Transmitters in Process Control Market: Introduction
The use of transmitters in process control encompasses the measurement of level, temperature, pressure and other variables in process control systems. Hence, transmitters are essential in maintaining the reliability, accuracy and efficiency of various process conditions. Process switches have been used for years in process plants but undetected failures over extended periods have proven to be a problem. On the other hand, transmitters have emerged as an alternative as they provide a continuous stream of information, which can be used to verify the operational health across various process measurement instruments.
The use of transmitters over process switches in instrumentation systems makes these systems more versatile at a relatively low cost. As a result, the design trend over the last decade has shifted from process switches to transmitters in process control. The differentiating factor in the coming years for transmitters in process control will be the services sector and the difference between products offered by various manufacturers will become minute with maturing technology.
The combination of quality products, supplier reliability and track record and additional services is expected to act as a key factor for success in the market. In the transmitters in process control market, most orders are largely finalized on the basis of the capability of the player in providing end-to-end installation services, apart from the products.
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Transmitters in Process Control Market: Drivers and Restraints
The instrumentation and process control industry in the developing world is well positioned for substantial growth over the coming years. Equipment manufacturers are collaborating with digital solution providers to develop robust products and ensure client contracts for the long duration. Moreover, the need of transmitters will continuously increase as plant operators are focusing on effectively managing operating costs and integrating multiple sections of large plants. Adding to this, the cost associated with unplanned shut down is expected to positively impact the demand for transmitters in process control.
The demand for transmitters in process control will increase, owing to thriving end-user industry verticals, such as oil and gas, petrochemicals, water and wastewater, chemical, paper & pulp, pharmaceutical, food & beverage and others. The market growth is anticipated to be driven by the introduction of strict government regulations in process industries. The market trend is increasingly shifting towards smart products that employ digital solutions across various industries to curb the impact of rising labor costs and meet the demand for component level solutions.
The demand for greener and efficient energy solutions is forcing processing plants to use automation and instrumentation solutions. Major challenges that the market players face include high initial cost, durability and low penetration in developing countries. However, these factors are expected to fade over the forecast period with massive revenue opportunities being generated from developing economies.
Transmitters in Process Control Market: Segmentation
On the basis of the type, the transmitters in process control market can be segmented into:
- Pressure Transmitters
- Temperature Transmitters
- Flow Transmitters
- Level Transmitters
- Vibration Transmitters
- Current, voltage & power Transmitters
- Composition Transmitters
- Ph Transmitters
- Dissolved Gas Transmitters
On the basis of the application, the transmitters in process control market can be segmented into:
- Oil and Gas
- Water and Wastewater
- Paper and Pulp
- Food & Beverages
Transmitters in Process Control Market: Region-Wise Outlook
The global transmitters in process control market is segmented into seven key regions: North America, Latin America, Western Europe and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). In the coming years, the increase in the demand for fully integrated systems capable of meeting the requirements of different applications is anticipated to drive the market in developed regions, including Western Europe, Japan and North America.
The APEJ region, mainly led by China and India, is expected to register notable growth as the region is emerging as a manufacturing base, which is positively impacting the investments in processing plants. The MEA, Latin America and Eastern Europe are also expected to register healthy CAGRs over the forecast period.
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Transmitters in Process Control Market: Market Participants
Examples of some of the market participants identified across the value chain of the global transmitters in process control market include:
- ABB Group
- OMEGA Engineering
- Honeywell Process Solutions
- Instrotech Instrumentation and Process Control
- Natus GmbH & Co. KG
- WIKA Alexander Wiegand SE & Co. KG
- Dwyer Instruments
- Proflow Systems
- Aspen Technology, Inc.
- Emerson Electric Company
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