As automation becomes a vital step to match the pace of industry 4.0, numerous industries are embracing novel technologies that ease out their processes, which otherwise require supervision. 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 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 is 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, 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 the 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.
Pyrosales Pty Ltd
Founded in 1976, Pyrosales Pty Ltd is headquartered in Australia. The company specializes in the development of industrial instruments as well as measuring, displaying, and transmitting products. It has operational facilities in Brisbane, Melbourne, Sydney, South America, China, and the U.S. The company enjoys its reputation as one of the largest manufacturers of calibration devices, sensors and instrumentation, level and flow measurement gauges, and precision temperatures.
WIKA Instrument, LP
Established in 1946, WIKA Instrument, LP is based in the U.S. It operates as a subsidiary of WIKA Alexander Wiegand GmbH & Co. KG. The company boosts its competence in manufacturing pressure gauges, pressure transmitters, diaphragm seals, and thermometers. The broad product portfolio of the company includes meters and displays, level measurement products, pressure gauge mechanical and electrical temperature products, high precision and calibration test products, and similar accessories.
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Winters Instruments Limited
Found in 1953, Winters Instruments Limited is based in Toronto, Canada. The company focuses on the manufacturing of industrial instrumentation products for temperature and pressure measurement. It has an excellent global reach with its distribution partners being in over 90 countries.
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 – 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 with ‘time-efficient’ penetrates deeper, industrialists are moving past their analog 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.
The industrial gauges market has been bifurcated based on:
- Gauge Type
- End-use Industry
Industrial Gauges Market Segmentation – By Gauge Type
Industrial Gauges Market Segmentation – By Application
- Hydraulic systems
Industrial Gauges Market Segmentation – By End-use Industry
Industrial Gauges Market Segmentation – By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific
- The Middle East and Africa