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News Release from: Venture Development Corp
Edited by the Engineeringtalk Editorial
Team on 20 February 2006
Good five years forecast for pressure
measurement
Global shipments of electronic pressure measurement devices will increase from $4.0 billion in 2005 to almost $5.4 billion in 2010 at a compound annual growth rate of 6.0%, according to forecasts.
Global shipments of electronic pressure measurement devices will increase from $4.0 billion in 2005 to almost $5.4 billion in 2010 at a compound annual growth rate (CAGR) of 6.0%, according to forecasts from a three-volume market study by Venture Development This market consists of electronic pressure transmitters sold for industrial process applications, those for other applications, electronic pressure transducers and electronic component-level pressure sensors
Electronic component-level pressure sensors are solid-state devices that are sold either as silicon chips or with a limited degree of packaging that allow them to be incorporated into pressure transmitters or transducers.
The merchant market for component-level pressure sensors is small, forecast to have a 7.5% CAGR through 2010, a rate which is higher than forecasts for the non-process pressure transmitters and transducers (at 7.0%), and process transmitters (at 4.4%).
Medical applications are forecast to be the fastest-growing worldwide market for electronic component level pressure sensors through 2010, with double-digit growth projections in the Asia-Pacific region.
A major portion of the medical application market is to suppliers who package these as disposable-invasive blood pressure monitors.
Most suppliers of solid-state pressure transmitters and transducers for automotive vehicle applications produce their own component-level sensors for these, however, there are other suppliers who source them.
These applications are forecast to contribute the largest dollar volume growth in the market.
With non-process pressure transducers and transmitters, the worldwide market growth rate for automotive applications is forecast to be below average, but this segment is expected to contribute by far the most dollar volume growth over the forecast period.
Higher growth rates are forecast for smaller application market segments such as consumer products and home appliances, industrial engines, offroad vehicles and plastics manufacturing equipment.
Nearly one-third of the 2005 market for these products was for automotive vehicle applications.
Automotive vehicle applications are many, and are increasing all the time.
They include barometric absolute pressure, brake sensors, climate control sensors, diesel sensors, exhaust gas recycling, engine oil, fuel injection, fuel tank pressure sensors, manifold absolute pressure, power steering sensors and tyre pressure monitoring.
With process pressure transmitters, the highest market growth rates are expected for markets in smaller industry segments such as electric power, pulp and paper, primary metals and industrial-water and wastewater applications.
However, the largest dollar volume gain expected in 2010 versus 2005 is for the oil and gas segment, followed closely by the chemical and petrochemical segment.
Together these are expected to account for 51.5% of the total market gain.
In 2005, most worldwide electronic process pressure transmitter shipments were for use in chemical, petrochemical, oil and gas industry applications.
The shipment growth rate for chemical and petrochemical applications is expected to be below the industry average over the forecast period, with an above-average growth rate for the oil and gas industry.
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