Numerous industries are embracing revolutionary technologies that ease out procedures that would otherwise require monitoring as automation becomes a necessary step to keep up with the speed of industry 4.0.
Industrial gauge is one such innovation that accurately keeps a tab on the standard pressure or temperature, as per the need of the process. Surging the need for measurement of gaseous or liquid media to allow a seamless functioning of manufacturing systems has been boosting the adoption rate of industrial gauges.
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Government regulations, focused on ensuring labor safety, have incited the shift of industrialists towards industrial gauges in numerous industries including but not limited to dairy, power, chemical, refining, and food. Accuracy being of utmost importance to gauge the pressure or temperature of a media, manufacturers are expanding efforts in the development of digital industrial gauges to obtain precise measurements.
Industrial Gauges Market – Notable Developments
The leading players of the industrial gauges market are striving to increase their market share by investing in research and development activities to innovate the industrial gauges landscape. In addition, market players also resort to merger and acquisition activities to boost their presence in other geographies.
Some of the key players operating in the industrial gauges market include Granville – Phillips Company, Grainger, Inc., Baumer Holding AG, KOBOLD Messring GmbH, and ENFM USA. Inc., and H.O. Trerice Co.
- In April 2019, Ashcroft Inc. averred that it has acquired Rüeger Holdings SA and STIKO Meetapparatenfabriek B.V. The underlying aim behind this transaction is to emphasize on protection of workforce, processes, and profits of Ashcroft’s clientele. Both the acquired companies specialize in the manufacturing of temperature and pressure measurement instruments.
- In February 2019, MKS Instruments announced the acquisition of Electro Scientific Industries, a leading laser-based manufacturing solution provider to the micro-machining industry. The transaction will help these companies expand their solutions for advanced markets and accelerate their innovation capabilities.
Industrial Gauges Market – Dynamics
‘Digital’ to Remain a Key USP of Industrial Gauges
With automation fuelling industrial advancements, end-use industries have been seeking instruments that optimize process efficiency and reduce overhead costs. As the perception of ‘digital’ being synonymous to ‘time-efficient’ penetrates deeper, industrialists are moving past their analogue industrial gauges to adopt digital industrial gauges.
In addition, digital industrial gauges can minimize the workforce required to interpret the readings, owing to their precision even during high vibration, which helps manufacturers control their operational costs. Driven by accuracy, the adoption of digital industrial gauges is likely to remain high in the upcoming years.
Need for Hygiene to Drive the Sales of Industrial Gauges
As government regulations regarding the safety of consumers have been turning stringent, it becomes crucial for manufacturers to employ systems that ensure hygiene in the manufacturing process. This has caused an urgency among the food and beverages and pharmaceutical industries to adopt industrial gauges to measure the differential pressure between the outlet and inlet, in order to gauge the accumulation of contaminants in the filter.
North America to Remain a Lucrative Industrial Gauges Market
The North American industrial gauges market remains benefitted by the demand ascending from numerous manufacturing plants of end-use industries such as paper and pulp, chemical, dairy, and food and beverages, among others.
However, Asia Pacific is anticipated to witness a significant surge in the demand for industrial gauges, as a large number of companies have been shifting their manufacturing facilities in the region to leverage the emerging opportunities. The Middle East and Africa also contribute to the growing adoption of industrial gauges as numerous petrochemical industries remain at the forefront of the demand for pressure and temperature gauges.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain of the global Industrial Gauges market.
The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with Industrial Gauges market attractiveness as per segments. The report also maps the qualitative impact of various factors on Industrial Gauges market segments and geographies.
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Industrial Gauges Market – Segmentation
The industrial gauges market has been bifurcated on the basis of:
- Gauge Type
- Application
- End-use Industry
- Region
Industrial Gauges Market Segmentation – By Gauge Type
- Pressure
- Temperature
Industrial Gauges Market Segmentation – By Application
- Hydraulic systems
- Boilers
- Pumps
- Compressors
- Others
Industrial Gauges Market Segmentation – By End-use Industry
- Chemical
- Power
- Dairy
- Refining
- Petrochemical
- Pharmaceutical
- Others
Industrial Gauges Market Segmentation – By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- Middle East and Africa
- Japan
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