According to the latest report by IMARC Group, title “Pressure Gauge Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global pressure gauge market reached a value of US$ 849.34 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,070.97 Million by 2027, exhibiting a CAGR of 3.82% during 2022-2027.
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Pressure gauges refer to instruments used to measure the gas, fluid, water, or steam pressure for carrying out a safety check, ensuring the consistency of a product, and preventing leakages in a system. They comprise of mechanical linkages mainly utilized for measuring variable and static forces. Pressure gauges are available in various designs, ranges, and display units, such as power stations, petrochemicals, mining, environmental technology, etc. Several manufacturers are designing these instruments with additional safety measures, including blow devices, to protect front workers from injuries caused by explosions or leakage. As a result, pressure gauges find widespread applications across various sectors, such as aviation, defense, healthcare, energy, etc.
Pressure Gauge Market Trends:
The escalating demand for these instruments in the petrochemical field to measure oil and gas production involved in household goods, personal items, and automobile parts is among the primary factors driving the pressure gauge market. Besides this, the elevating product requirement in the automotive industry for measuring and indicating the amount of fuel in heavy-duty trucks and buses, which rely on liquified or compressed natural gas (CNG), is further augmenting the market growth.
Apart from this, the rising need for pressure gauges in anesthesia equipment, medical regulators, angioplasty inflation devices, respiratory equipment, dental systems, etc., on account of the sudden outbreak of the COVID-19 pandemic, is also catalyzing the global market. Moreover, the introduction of digital variants with advanced sensors to transmit data to computers for immediate use is expected to bolster the pressure gauge market in the coming years.
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|Pressure Gauge Market Report Scope|
|Market size value in 2021||US$ 849.34 Million|
|Market forecast in 2027||US$ 1,070.97 Million|
|Growth Rate||CAGR of 3.82% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Output Type, Technology, Application and Region|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization preview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Output Type:
Breakup by Technology:
- Piezoresistive Pressure Gauge
- Capacitive Pressure Gauge
- Electromagnetic Pressure Gauge
- Resonant Solid State Pressure Gauge
- Optical Pressure Gauge
Breakup by Application:
- Aviation and Defense
Breakup by Geography:
- 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
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List of Key Companies Covered in this Market Report:
The major players in the market are AMETEK Inc., Badotherm, CIRCOR International Inc., Crane Co., Dwyer Instruments Inc., Emerson Electric Co., Fluke Corporation (Fortive Corporation), Honeywell International Inc., Newbow Aerospace Ltd., OMEGA Engineering Inc. (Spectris plc), QED Aerospace, WIKA Alexander Wiegand SE & Co. KG and Winters Instruments Limited.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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