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Pressure Gauges Market Trends

Report ID: GMI12325
Published Date: Nov 2024
Report Format: PDF

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Pressure Gauges Market Trends

Technological advancements are a significant driver of growth in the pressure gauges industry. Innovations in pressure sensing technology have led to the development of more accurate, durable, and versatile gauges. These include digital pressure gauges with microprocessors that offer features such as automated calibration, data logging, and remote monitoring.

New types of pressure sensors, including piezoresistive, capacitive, and optical sensors, provide superior performance in terms of accuracy, response time, and long-term stability. The development of compact, low-power sensors with high precision has expanded the application scope of pressure gauges in automotive, HVAC, and medical fields, enhancing their versatility and driving market growth.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for pressure gauges was reached USD 1.4 billion in 2023 and is estimated to grow at a 3.5% CAGR from 2024 to 2032, driven by the expansion of sectors such as oil and gas, chemical manufacturing, power generation, and automotive manufacturing.

The bourdon tube pressure gauges segment was valued at over USD 510 billion in 2023 and is expected to grow at a 3.8% CAGR from 2024 to 2032, due to their precision and reliability in high-pressure systems and chemical manufacturing sectors.

The analog segment held around 61% share of the pressure gauges market in 2023 and is anticipated to grow at a 5.2% CAGR during 2024 to 2032, led by their widespread use in various industrial applications.

The U.S. pressure gauges market size surpassed USD 3 billion in 2023 and is estimated to grow at a 3.6% CAGR from 2024 to 2032, propelled by the demand for reliable and cost-effective pressure monitoring solutions in key sectors such as oil and gas, power generation, and chemical processing.

Major players in the pressure gauges industry include Ametek, Badotherm, Circor, Dwyer, Emerson, Fluke Corporation, Honeywell International, Kobold Instruments, Newbow, Omega Engineering, QED Aerospace, Wika Instruments, and Winters Instruments.