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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.
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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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