Energy Demand to Fuel Global Pressure Transmitter Market
Pressure transmitter shipments, after returning to pre-recession levels in 2010, saw strong growth in 2011, even besting 2010's growth by several percentage points. Despite the return to positive growth, risks remain, such as continued economic uncertainty in the United States and Europe, and slowing growth in Asia. So says a new report from ARC Advisory Group.
"Although the economy is sending mixed signals, the pressure transmitter market will likely continue to see positive growth. Ongoing demand for energy will require more oil and gas, driving up demand and long-term energy prices. Finding new oil deposits is becoming more difficult and those that are found tend to be more challenging to develop and refine, creating significant opportunities for pressure transmitter suppliers," according to senior analyst Allen Avery, the principal author of ARC's "Pressure Transmitter Worldwide Outlook."
Smart and SIL-Rated Transmitters See Big Gains
Sales of smart pressure transmitters will continue to outpace those of conventional and low-cost devices, as users seek to use recent technological advances to improve visibility into plant operations to help maximize productivity and the availability of production resources. This user focus on asset management also fuels demand for transmitters that incorporate onboard diagnostics capabilities and use digital communication protocols.
Increasingly tough safety and environmental regulations have helped drive increasing adoption of safety integrity level (SIL)-rated transmitters for safety instrumented systems (SIS) to mitigate the risk of such catastrophic events. Pressure transmitters are an integral part of safety instrumented systems, and most leading pressure transmitter suppliers now offer SIL-rated transmitters.