This Industrial Gauges market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Industrial Gauges market.
Industrial Gauges Market - Introduction
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.
Government regulations, focused on ensuring labour 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 expending 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 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 at 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.
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.
Industrial Gauges Market - Dynamics
‘Digital’ to Remain a Key USP of Industrial Gauges
With automation fuelling the industrial advancements, end-use industries have been seeking instruments that optimize the process efficiency and reduce the 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
- 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
- Middle East and Africa
- A detailed overview of parent market
- Changing Industrial Gauges market dynamics in the industry
- In-depth Industrial Gauges market segmentation
- Historical, current, and projected Industrial Gauges market size regarding volume and value
- Recent industry trends and developments in Industrial Gauges market
- Competitive landscape of the Industrial Gauges market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Industrial Gauges market performance
- Must-have information for Industrial Gauges market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Industrial Gauges Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Industrial Gauges Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Industrial Gauges Market report?
In addition to up-to-date market figures and customized of the Industrial Gauges Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.