Pressure Gauges Market Analysis

Pressure Gauges Market Analysis

The pressure gauges industry is highly fragmented, with numerous manufacturers offering a diverse range of pressure measurement devices. In developing economies, many manufacturers compete primarily on price, exerting significant pressure on profit margins. This price competition is particularly intense in commodity markets, where customers often prioritize cost over advanced features or precision. The challenge is further compounded by the increasing availability of low-cost, unbranded gauges from regional suppliers, which may lack the reliability and precision of established brands. Consequently, companies face difficulties in differentiating themselves based solely on price or quality, as both factors are often closely contested.

To get key market trends

  Download Free Sample

Based on technology, the bourdon tube pressure gauges segment was worth over USD 510 billion in the year 2023 and is estimated to grow at a CAGR of around 3.8% from 2024 to 2032, driven by key factors, particularly within industrial sectors where precision and reliability are paramount. For over a century, Bourdon tube pressure gauges have been the preferred choice for mechanical pressure measurement. Their sustained relevance across various industries is supported by specific market drivers. The oil and gas industry, characterized by high-pressure systems, and the chemical manufacturing sector, which requires precise pressure monitoring for system stability and safety, demonstrates robust demand for these gauges.
 

Additionally, Bourdon tube gauges are extensively used in applications necessitating robustness and durability in harsh environments, thereby strengthening their market presence. Their durability ensures a long operational lifespan with minimal maintenance, resulting in lower operational costs and reduced downtime for businesses. Furthermore, their mechanical design makes them ideal for environments where electronic devices may fail due to power outages, extreme temperatures, or solvent exposure, offering a reliable alternative for mission-critical applications.
 

Based on the product type, the analog segment held around 61% share of the pressure gauges market in 2023 and is anticipated to grow at a CAGR of 5.2% during 2024 to 2032. However, the digital segment is growing at a CAGR of 3.9% through 2032.
 

The global market for analog tube pressure gauges, which encompasses mechanical variants such as Bourdon tube and diaphragm gauges, is propelled by their simplicity, durability, and versatility across diverse industrial sectors. Despite the rising prominence of digital pressure gauges and smart technologies, analog tube pressure gauges maintain a substantial market presence, owing to their distinct advantages in numerous applications.
 

One of the primary benefits of analog tube pressure gauges is their cost-effectiveness. Their production and operational costs are lower, thanks to the absence of intricate electronics and reliance on straightforward mechanical components. This cost advantage becomes particularly pronounced in industries that require a large number of gauges. Furthermore, the ease of bulk production for analog gauges allows for more competitive pricing, making them especially appealing for budget-conscious applications. As emerging markets continue to industrialize, the demand for reliable and economical pressure measurement devices, like analog tube pressure gauges, surges, especially to support their infrastructure development.  
 

U.S. pressure gauges market size surpassed USD 3 billion in 2023 and is estimated to grow at a CAGR of over 3.6% from 2024 to 2032. Key sectors such as oil and gas, power generation, chemical processing, manufacturing, and water treatment rely extensively on mechanical pressure measurement systems. The demand for tube pressure gauges, including Bourdon tube and diaphragm gauges, is driven by the need for reliable and cost-effective pressure monitoring solutions in these industries.
 

The U.S. is also focused on modernizing its aging infrastructure, including power plants, water treatment facilities, and transportation systems, which further fuels the demand for pressure gauges. Increased investments in oil and gas exploration, shale gas production, refinery upgrades, and petrochemical plants underscore the necessity for robust and reliable pressure measurement tools. Additionally, industries such as HVAC, manufacturing, and food and beverage require consistent and economical pressure monitoring, supporting the demand for analog tube gauges. The U.S. enforces stringent regulatory requirements across various industries, particularly in oil and gas, chemical processing, and power generation, where safety standards around pressure control are critical.
 

Country-level Analysis

North America: In terms of the country, the US dominates with an overall revenue share of around 79% in North America pressure gauges market. U.S. industries are increasingly seeking cost-effective, low-maintenance solutions to optimize their operations. Mechanical tube pressure gauges, such as Bourdon tube gauges, are often more affordable than digital alternatives and have a longer lifespan. Their independence from electricity or external power sources reduces susceptibility to failure, making them a reliable choice for long-term operation without frequent servicing or part replacements.
 

For industries such as HVAC, manufacturing, and water treatment, cost-effectiveness is a critical factor. The U.S. encompasses a wide range of industrial sectors that operate in harsh environments, such as oil rigs, chemical plants, nuclear power stations, and offshore drilling platforms. Pressure gauges used in these settings must withstand extreme pressures, temperature variations, corrosive substances, and mechanical vibrations.
 

On the other hand, Canada pressure gauges market expressing notable growth rate of around 1.8% up to 2032. In Canada, the demand for automated control systems is growing, particularly in sectors such as oil sands extraction, mining, and power generation, where automation enhances efficiency and safety. While Canada is embracing automation, analog tube pressure gauges remain essential for providing consistent, real-time pressure readings in automated systems, especially in remote or harsh environments where digital gauges may be less reliable. Canada hosts large industrial sectors, particularly in oil and gas, mining, and forestry. The significant reserves of oil sands and natural gas in regions like Alberta and British Columbia require extensive pressure monitoring in pipelines, extraction facilities, and refineries. Additionally, the mining sector, which is vital to Canada’s economy, demands reliable pressure gauges for equipment used in both underground and surface mining operations.
 

Asia Pacific: The Asia Pacific pressure gauges market accounted for around 41% revenue share in 2023 and anticipated to at a 5.9% CAGR during 2024 to 2032.
 

In terms of country, China market expressing notable growth rate of around 6.2% till 2032. The Asia-Pacific region, particularly China, has witnessed substantial growth in industrialization and infrastructure development. As China's economy transitions towards advanced manufacturing, energy production, and urban infrastructure, the demand for precise and reliable pressure monitoring across various applications has surged. Key industries such as oil and gas, chemical processing, manufacturing, power generation, and water treatment have driven the need for mechanical pressure gauges, especially Bourdon tube gauges. Additionally, large-scale construction and infrastructure projects, including power plants, bridges, and rail systems, consistently require durable, reliable, and cost-effective pressure monitoring solutions.
 

China's Belt and Road Initiative, extensive urbanization projects, and the expansion of energy production systems have significantly increased the demand for analog pressure gauges across multiple sectors. The reliability and robustness of tube pressure gauges make them particularly suitable for these large-scale industrial projects. The growing number of oil refineries, steel manufacturing plants, and chemical production facilities in China further boosts the demand for pressure measurement systems. Bourdon tube pressure gauges are favored in these industries due to their simplicity, accuracy, and cost-effectiveness, which are crucial for high-volume applications in large-scale systems.