Asia-Pacific continues to lead the Industrial Wireless Transmitter market share and growth during 2018-2023:
Asia-Pacific is the largest region for industrial wireless transmitters with revenue of $672.97 million in 2017 and projected to grow to $1.31 billion by 2023, followed by Americas and Europe. The increased usage of flow and level transmitters in chemical and wastewater management industries is set to propel the market. APAC region is also forecast to exhibit the highest growth of 13.08% CAGR throughout the forecast period as stricter government emission regulations propel the flow transmitter market.
Selected / Sample Analysis done in the Industrial Wireless Transmitter Report:
Among all the types, Pressure Transmitters have exhibited high adoption in the Americas and European markets. APAC region is projected to grow at the highest rate of 13% through 2023 to reach $325.9 million. The high demand from the automotive industry in the APAC region will spur the growth of pressure transmitters in this region.
Among all the end-use segments, the Chemical/Petrochemical Segment is dominating with a revenue of $401 million in 2017 and is expected to reach $669.92 million by 2023 growing at CAGR of 9.59%.
Excerpts on Market Growth Factors Mentioned in the Industrial Wireless Transmitter Report:
Stringent government policies and lower installation and maintenance costs of these transmitters are one of key drivers for this market growth.
The major drivers include the shale gas revolution in North America which will lead to increased adoption of wireless transmitters and the increasing demand for accurate measurements in order to improve operational efficiency.
The improving power consumption and energy efficiency of wireless transmitters is propelling the market due to increased demand for functionality and reliability.
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Key Players of the Industrial Wireless Transmitter Market:
The top five companies in the Industrial Wireless Transmitters market include Schneider Electric (France), Yokogawa Electric (Japan), Honeywell International Inc. (U.S.), ABB Group Ltd. (Switzerland) and Emerson Electric (U.S.). The leading players are launching new products and establishing partnerships with end user companies, in order to augment their product portfolio and also to develop innovative products by leveraging the core competencies, thereby improving their product portfolio and enhancing market position. Schneider held the highest market share, owing to the large distribution network as well as the brand identity and expansive product portfolio.
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