Driven by a stronger emphasis on plant asset management and safety applications, the worldwide market for pressure transmitters is expected to grow at above-average rates as capital investment programs continue to recover after the global recession. After dipping more than 10% in 2009 due to the effects of the global recession on the automation market, the pressure transmitter market saw a speedy and strong recovery in 2010, driven by increased business in the energy sector.
Pressure transmitter suppliers have benefited from renewed investment and expansion activities, and they have aligned their business goals to capitalize on growing industry segments and geographic regions that will enable them to increase market share. “Oil prices are on the rise again with the economic recovery, increased demand, and political and social unrest in the Arab world. This should continue to drive demand for pressure transmitters going forward, as higher prices favor increased exploration, production, and processing of fossil fuels,” according to Analyst Allen Avery, the principal author of ARC’s “Worldwide Market Outlook Study”.