Industrial Transmitters Market

Industrial Transmitters Market Overview:

The global industrial transmitters market size reached US$ 16.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032. The heightened focus on automation of various industrial operations to achieve efficiency, rising advancements in automation, and increasing awareness about energy conservation and stringent regulatory standards regarding environmental protection are some of the factors propelling the growth of the market.

Industrial Transmitters Market Analysis:

• Major Market Drivers: The market is experiencing steady growth because of the increasing availability of technologically advanced transmitters to improve the operational efficiency in industries.
• Key Market Trends: Major trends include the integration of Internet of Things (IoT) and industrial Internet of Things (IIoT) technologies into transmitters to enhance their functionalities and heightened focus on maintaining energy efficiency in industrial operations.
• Geographical Trends: Asia Pacific represents the largest segment owing to the heightened automation in the manufacturing sector. Apart from this, the increasing focus on installation of smart grids is propelling the industrial transmitters market growth.
• Competitive Landscape: Some of the major market players in the industrial transmitters industry include ABB Ltd, AMETEK, Inc., Danfoss A/S, Dwyer Instruments Inc., Emerson Electric Co, Fuji Electric Co. Ltd. (Furukawa Group), General Electric Company, Honeywell International Inc., Schneider Electric, Siemens AG, WIKA Alexander Wiegand SE & Co. KG, and Yokogawa Electric Corporation.
• Challenges and Opportunities: Challenges include the high initial investments and compatibility issues. However, the increasing focus on automation in industrial operations to reduce human involvement is expected to overcome these complications.
   

Industrial Transmitters Market Trends:

Growing Emphasis on Energy Efficiency and Regulatory Compliance

Rising environmental awareness about energy conservation and regulatory standards for environmental protection are the factors positively influencing the market. Energy savings and carbon-footprint reduction of sectors are a non-stop affair. Accurate measurement and monitoring of different parameters like pressure, temperature, and flow can help achieve these objectives, which is done by industrial transmitters. They do this to help the industries in their operations by reducing costs, increasing energy efficiency, and staying compliant with environmental regulations. This mandates advanced instrumentation and control systems for government establishments along with global regulatory bodies, thereby offering a favorable industrial transmitters market outlook. According to the IMARC Group, the global industrial energy efficiency services market is forecasted to reach US$18.0 billion by 2032.

Technological Advancements and Automation

Technological advancements and the rising acceptance of automation from end-use industries are instrumental factors supporting the market growth. Recent technological advancements with sensors are making transmitters even more precise, more dependable, and able to operate in harsh environments. Automation in modern industries like manufacturing plants, oil and gas production, or chemical processing demands accurate and real-time monitoring of data, which is done by means of advanced transmitters. The advent of IoT and IIoT technologies also improve the functionality possible for these devices, enabling them to help with remote monitoring and predictive maintenance. That leads to less downtime and better operational performance, catalyzing the industrial transmitters demand. In 2024, ISRO developed a second-generation Distress Alert Transmitter (DAT) by adding advanced satellite communication and navigation properties that enable fishermen at sea to send emergency messages from fishing boats and get replies in real time.

Rising Demand in Emerging Economies

Exemplary industrialization and urbanization in some of the developing regions around the world are providing ample growth prospects to the market. There are massive infrastructure spends, and new energy generation is resulting in considerable investments across Asia-Pacific and Latin America. This requires the implementation of advanced instrumentation and control systems, including industrial transmitters, for efficient and safe operations. Automation and the growing emphasis on enhancing industrial productivity, along with operational efficiency in various regions, are anticipated to bring about a substantial increase in the demand for precise measurement solutions. In 2023, Honeywell launched Versatilis Transmitters for condition-based monitoring of rotating equipment like pumps, fans, blower, and compressors. These transmitters are essential for monitoring tools designed to maximize uptime and reliability.

Industrial Transmitters Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type and industry vertical.

Breakup by Type:

• Pressure Transmitter
• Flow Transmitter
• Level Transmitter
• General Purpose Transmitter
• Temperature Transmitter
• Others
   

Pressure transmitter accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes pressure transmitter, flow transmitter, level transmitter, general purpose transmitter, temperature transmitter, and others. According to the report, pressure transmitter represented the largest segment.

Pressure transmitters are fundamental in maintaining precise control over industrial processes, thereby improving the industrial transmitters market revenue. By presenting accurate and real time measurements of pressure in gases and liquids, these devices help ensure that processes operate within designated parameters. This precision is crucial in industries like oil and gas, chemical processing, and pharmaceuticals, where even slight deviations in pressure can lead to significant complications. The implementation of pressure transmitters significantly enhances the safety and reliability of industrial operations. These devices are created to withstand harsh environmental conditions and present consistent performance over extended periods. By continuously monitoring pressure levels, pressure transmitters can detect abnormal conditions and trigger alarms or automatic shutdowns to prevent accidents. In 2023, SOR released a new pressure transmitter in its 1800 series to provide high accuracy measurements in hazardous environments, thereby improving the industrial transmitters market value.

Breakup by Industry Vertical:

• Oil and Gas
• Energy and Power
• Chemical and Petrochemical
• Water and Wastewater Treatment
• Others
   

Oil and gas hold the largest share of the industry

A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes oil and gas, energy and power, chemical and petrochemical, water and wastewater treatment, and others. According to the report, oil and gas accounted for the largest market share.

Industrial transmitters play a pivotal role in maintaining the safety and regulatory compliance with oil and gas operations. Accurate pressure, temperature, and flow measurements are essential for monitoring critical parameters in drilling, extraction, and refining processes. As per the industrial transmitters market overview, pressure transmitters help detect overpressure conditions that could lead to equipment failure or catastrophic blowouts. Temperature transmitters ensure that processes operate within safe thermal limits, preventing overheating and potential integrity management preventing environmental contamination. By ensuring accurate and reliable monitoring, industrial transmitters help with compliance with stringent environmental regulations and safety standards, thereby protecting both workers and the environment. In 2024, Baker Hughes launched three gas, flow, and moisture measurement sensor technologies created to enhance safety in the oil and gas sector. One of the three sensors is HygroPro XP, which is a loop-powered transmitter and features a compact explosion proof enclosure and pressure sensors, and HART communication.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific leads the market, accounting for the largest industrial transmitters market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for industrial transmitters.

The Asia Pacific market is driven by rapid industrialization, technological advancements, and increased automation in manufacturing processes. Heightened investments in infrastructure development, particularly in emerging economies like China and India, are catalyzing the demand for precise measurement and control solutions. Additionally, stringent environmental regulations and the growing focus on energy efficiency are increasing the adoption of advanced industrial transmitters. The integration of IoT and Industry 4.0 technologies is enhancing the capabilities of these devices, promoting smarter and more efficient industrial operations across the region. As per the predictions of the IMARC Group, the Japan Industry 4.0 market is expected to exhibit a growth rate of 18.63% during 2024-2032. The adoption of smart grid technologies and renewable energy sources is contributing to market growth, as these applications require sophisticated transmitters for effective monitoring and control.

Competitive Landscape:

• The industrial transmitters market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the industrial transmitters industry include ABB Ltd, AMETEK, Inc., Danfoss A/S, Dwyer Instruments Inc., Emerson Electric Co, Fuji Electric Co. Ltd. (Furukawa Group), General Electric Company, Honeywell International Inc., Schneider Electric, Siemens AG, WIKA Alexander Wiegand SE & Co. KG, Yokogawa Electric Corporation, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• To cater to an extensive range of industrial applications, key players are expanding their product portfolios with a variety of transmitter types and configurations. This includes specialized transmitters for specific industries such as oil and gas, chemicals, pharmaceuticals, and food and beverage (F&B). Additionally, offering customized solutions tailored to unique customer requirements helps companies address specific operational challenges and gain a competitive edge. By providing products and customized options, these players can attract a broader customer base and enhance market penetration. Industrial transmitters companies are heavily investing in research to innovate and improve their product offerings. This includes the development of advanced transmitters with higher accuracy, reliability, and robustness to withstand harsh industrial environments. The integration of IoT and Industry 4.0 technologies is a significant focus, enabling smart transmitters that offer enhanced connectivity, remote monitoring, and predictive maintenance capabilities. By continually advancing their technology, these companies aim to meet the changing demands of various industries and provide cutting-edge solutions. For instance, in 2024, ABB launched an improved version of its NINVA™ TSP341-N non-invasive temperature sensor, presenting safer and simpler temperature measurements. The new NINVA is the first SIL2-certified non-invasive temperature transmitter, portraying it as the safest non-invasive temperature measurement sensor available.

Industrial Transmitters Market News:

• April 2024: AMTEK Level Measurement Solutions (LMS), a business of AMTEK, Inc. launched BrightTEK, an innovative wireless Industrial Internet of Things (IIoT) solution created to improve operational efficiency and cost-effectiveness in various industries. BrightTEK utilizes wireless technology to facilitate seamless data transmission from AMETEK LMS branded transmitters.
• November 2023: Dandoss Sensing Solutions introduced the DST P10B CANopen pressure transmitter. It is built on the DST P1XX product range.

Industrial Transmitters Market Report Scope:

Key Questions Answered in This Report:

• How has the global industrial transmitters market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global market?
• What is the impact of each driver, restraint, and opportunity on the global market?
• What are the key regional markets?
• Which countries represent the most attractive market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the market?
• What is the breakup of the market based on the industry vertical?
• Which is the most attractive industry vertical in the market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global industrial transmitters market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, industrial transmitters market forecasts, and dynamics of the market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the industrial transmitters industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.