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Global Pressure Gauge Market to Grow at a CAGR of 3.5% During 2021-2026, Driven by the Increasing Industrial Uses of Pressure Gauge

According to a new report by EMR titled, ‘Global Pressure Gauge Market Report and Forecast 2021-2026’, the global market for pressure gauge is expected to grow at a CAGR of 3.5% in the forecast period of 2021-2026.

The Asia Pacific region holds a significant share of the overall pressure gauge industry owing to the rapid industrialisation in the region. The increasing manufacturing activities in countries like India, China, and South Korea is increasing the demand for pressure gauge in various end uses, which is further augmenting the market growth. As the healthcare sector in various emerging economies such as India, Indonesia, and Vietnam is robustly growing owing to the initiation of various government measures, the use of pressure gauges in medical equipment such as oxygen cylinders are increasing, which, in turn, is fuelling the industry growth.

Some of the leading companies in the market are Meggitt PLC (OTCMKTS: MEGGF) and WIKA Alexander Wiegand SE & Co. KG. The latter launched a Bourbon tube pressure gauge, PG28, in June 2020. The wetted parts of the gauge are made up of Hastelloy C276, which provides resistance to chlorine gas, sulphuric acid, and hydrofluoric acid. The gauge also has a corrosion-resistant measuring solution while providing users with a cost-effective solution. Moreover, it also requires little installation space, which makes it ideal for compact spaces. The models range from 0….0.6 bar to 0…700 bar, and their case is optionally available with filling and in an “S3” safety version. The model extends the company’s Hastelloy product range with diaphragm pressure gauges as well as diaphragm seals. The products, therefore, offer the right solution for every possible application in the field of mechanical pressure measurement. The development of such products is increasing the demand for pressure gauges, hence bolstering the market growth.

Market Analysis by Output Type, Application, and Region:

  • The market, on the basis of output type, can be divided into analogue and digital.
  • Based on application, the industry can be divided into aviation and defence, automotive, healthcare, and energy, among others.
  • The regional markets for pressure gauge include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for pressure gauges to determine the pressure in the aerospace industry is propelling the market growth.
  • The extensive end-uses of pressure gauges in various industrial products and machinery are augmenting the industry growth. 
  • The growing demand for pressure gauges for the transportation of energy, such as natural gas in the energy sector, is further fuelling the market growth.
  • The market is also being aided by the increasing deployment of pressure gauges in aircraft to prevent excessive friction and prevent the risk of accidents.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for pressure gauge for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the output types, applications, and major regions of pressure gauge.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global pressure gauge market are WIKA Alexander Wiegand SE & Co. KG, QED Inc., Meggitt PLC, Honeywell International Inc., and Winters Instruments, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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