PAM, Safety Applications to Drive Market Growth
Propelled by a booming automation market and robust capital expenditures, the pressure transmitter market has seen strong growth in recent years. Going forward, the market will continue to grow at higher than average rates, thanks to the continued emphasis on Plant Asset Management (PAM) and smart instrumentation, and an expected upswing in the adoption of wireless transmitters. Much of the installed base of field devices needs to be upgraded to leverage PAM applications, representing a huge opportunity for suppliers to replace conventional transmitters with smart units.
Safety has come to the forefront for the process industries, particularly the oil & gas sector, where recent incidents have
highlighted the need for better process measurements, driving the increasing adoption of reliable SIL- rated transmitters for Safety Instrumented Systems.
Regionally, suppliers can expect to see the largest growth in the Middle East, due to its high concentration of oil & gas activities and in Asia, where heavy investment in new plant construction continues.
One obstacle to growth is that users do not fully utilize the diagnostic capabilities of intelligent devices. Suppliers are in a position to help users integrate smart field instruments, but it may take a shift from a hardware-centric mindset to a more service-oriented focus.
Strategic Issues
This study is intended to assist suppliers and purchasers in staying abreast of pressure transmitter technology advancements, and explores in-depth the key issues that will impact this business in the near future. These issues include:
- Short and long-term potential for the pressure transmitter business
- Impact of new technologies on the pressure transmitter market
- Outlook for pressure transmitters by industry
- Impact of plant asset management on the pressure transmitter market
- Key elements for success in the pressure transmitter business