Global Industrial Process Variable Instruments Market Report 2024

Industrial Process Variable Instruments Global Market Report 2023 – By Type (Temperature, Pressure, Level, Flow, Other Types), By Instrument (Transmitter, Control Valve), By Application (Chemicals, Oil and Gas, Electronic And Electrical, Other Applications) – Market Size, Trends, And Global Forecast 2023-2032

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Industrial Process Variable Instruments Market

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Industrial process variable instruments are defined as instruments that are used to measure, control, and record industrial variables such as temperature, flow, pressure, vacuum, combustion, level, viscosity, density, acidity, concentration, and rotation. Process variable instruments are used for measuring, displaying, indicating, recording, transmitting, and controlling industrial process variables. The industrial process variable can work mechanically, pneumatically, electronically, or electrically.

The main types in the industrial process variable instruments market are temperature, pressure, level, flow, and others. The temperature segment in industrial process variable instruments refers to the process in which temperature will be recorded and processed in industries. It includes instruments such as transmitters and control valves that are used in chemicals, oil, and gas, electronic and electrical systems, and others.

The global industrial process variable instruments market is segmented -

1) By Type: Temperature, Pressure, Level, Flow, Other Types

2) By Instrument: Transmitter, Control Valve

3) By Application: Chemicals, Oil & Gas, Electronic and Electrical, Other Applications

The global industrial process variable instruments market size will grow from $53.44 billion in 2022 to $56.42 billion in 2023 at a compound annual growth rate (CAGR) of 5.6% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial process variable instruments market is expected to grow to $68.29 billion in 2027 at a CAGR of 4.9% .

The increasing demand for chemicals and oil and gas drives the growth of the industrial process variable instruments market. The industrial process variable instruments are used in oil and gas facilities for monitoring and controlling operating conditions. The operating conditions are monitored to meet safety, and environmental regulations, and to ensure stability in plant operations. The increased demand for oil and gas will require more production facilities to be set up, thus, increasing the demand for industrial process variable instruments. As reported by the International Energy Agency (IEA), the per-day production of oil is projected to be above 15 million barrels per day by 2040. Also, India Brand Equity Foundation (IBEF) predicts that the consumption of natural gas is stipulated to reach for natural gas 143.08 million tonnes by 2040. Thus, the growing demand for oil and gas holds a positive impact on the industrial process variable instruments market.

Major players in the industrial process variable instruments market are ABB Ltd., Emerson Electric Company, Honeywell International Inc., Schneider Electric SE, Siemens AG, Ametek Inc., Applied Instrument Technologies Inc., Applitek NV, Arizona Instrument LLC., and Aventics GmbH .

The complexity regarding the use of process variable instruments in the food industry restricts the growth of the industrial process variable instruments market. The process control instruments used in the food industry may contact the food product while monitoring temperature, pressure, level, and flow are required to be following the hygienic requirements designed to provide cleanable and healthy contact surfaces. Further, different food items produced require different temperatures, pressures, and sanitary requirements thus this leaves very little space for the manufacturers of industrial process variable instruments to add any extra advanced features to the instrument while ensuring that it meets sanitary as well operational requirements. Thus, the complexities of using the process variable instruments in the food industry restrain the growth of the industrial process variable instruments market.

The companies in the industrial process variable instruments market are investing in integrating the Internet of things technology (IoT) to process variable instruments. The industrial process variable instruments such as pressure, temperature, flow level monitoring, and controlling devices are being integrated with IoT to increase their efficiencies and usage. For instance, Ambetronics Engineers Pvt. Ltd., an India-based provider of gas detection sensors, and process control instrumentation systems, launched its RS485 to MQTT IoT smart module to remotely monitor industrial sensors, from the pressure to temperature, tank levels, flow, and gas levels, etc. The module allows the real-time connectivity of data to the Ambetronics cloud and offline storage for recording the sensor data when the internet connectivity is unavailable.

In October 2022, Valin Corporation, a US-based company operating in industrial process variable instruments, acquired Jensen Instrument Company for an undisclosed amount. Through this acquisition, Valin Corporation aims to strengthen its product portfolio in process control and fluid handling. Jensen Instrument Company is a US-based company operating in industrial process variable instruments.

Asia-Pacific was the largest region in the industrial process variable market in 2022. North America is the second-largest region in the global industrial process variable instruments market share. The regions covered in the global industrial process variable instruments market report analysis include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the industrial process variable instruments market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The industrial process variable instruments market consists of sales of boiler controls, buoyancy instruments, chromatographs, combustion control instruments, and other industrial process variable instruments. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The industrial process variable instruments market research report is one of a series of new reports from The Business Research Company that provides industrial process variable instruments market statistics, including industrial process variable instruments industry global market size, regional shares, competitors with an industrial process variable instruments market share, detailed industrial process variable instruments market segments, market trends and opportunities, and any further data you may need to thrive in the industrial process variable instruments industry. This industrial process variable instruments market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

    Table Of Contents

    1. Executive Summary

    2. Industrial Process Variable Instruments Market Characteristics

    3. Industrial Process Variable Instruments Market – Macro Economic Scenario

    3.1 COVID-19 Impact On Industrial Process Variable Instruments Market

    3.2 Ukraine-Russia War Impact On Industrial Process Variable Instruments Market

    3.3 Impact Of High Inflation On Industrial Process Variable Instruments Market

    4. Industrial Process Variable Instruments Market Size And Growth

    4.1. Global Industrial Process Variable Instruments Historic Market, 2017 - 2022, $ Billion

    4.1.1. Drivers Of The Market

    4.1.2. Restraints On The Market

    4.2. Global Industrial Process Variable Instruments Forecast Market, 2022 - 2027F, 2032F, $ Billion

    4.2.1. Drivers Of The Market

    4.2.2. Restraints On the Market

    5. Industrial Process Variable Instruments Market Segmentation

    5.1. Global Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Temperature

    Pressure

    Level

    Flow

    Other Types

    5.2. Global Industrial Process Variable Instruments Market, Segmentation By Instrument, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Transmitter

    Control Valve

    5.3. Global Industrial Process Variable Instruments Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    Chemicals

    Oil & Gas

    Electronic And Electrical

    Other Applications

    6. Industrial Process Variable Instruments Market Regional And Country Analysis

    6.1. Global Industrial Process Variable Instruments Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    6.2. Global Industrial Process Variable Instruments Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    7. Asia-Pacific Industrial Process Variable Instruments Market

    7.1. Asia-Pacific Industrial Process Variable Instruments Market Overview

    7.2. Asia-Pacific Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    8. China Industrial Process Variable Instruments Market

    8.1. China Industrial Process Variable Instruments Market Overview

    8.2. China Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F,$ Billion

    9. India Industrial Process Variable Instruments Market

    9.1. India Industrial Process Variable Instruments Market Overview

    9.2. India Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    10. Japan Industrial Process Variable Instruments Market

    10.1. Japan Industrial Process Variable Instruments Market Overview

    10.2. Japan Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    11. Australia Industrial Process Variable Instruments Market

    11.1. Australia Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    12. Indonesia Industrial Process Variable Instruments Market

    12.1. Indonesia Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    13. South Korea Industrial Process Variable Instruments Market

    13.1. South Korea Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    14. Western Europe Industrial Process Variable Instruments Market

    14.1. Western Europe Industrial Process Variable Instruments Market Overview

    14.2. Western Europe Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    15. UK Industrial Process Variable Instruments Market

    15.1. UK Industrial Process Variable Instruments Market Overview

    15.2. UK Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    16. Germany Industrial Process Variable Instruments Market

    16.1. Germany Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    17. France Industrial Process Variable Instruments Market

    17.3. France Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    18. Eastern Europe Industrial Process Variable Instruments Market

    18.1. Eastern Europe Industrial Process Variable Instruments Market Overview

    18.2. Eastern Europe Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    19. Russia Industrial Process Variable Instruments Market

    19.1. Russia Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    20. North America Industrial Process Variable Instruments Market

    20.1. North America Industrial Process Variable Instruments Market Overview

    20.2. North America Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    21. USA Industrial Process Variable Instruments Market

    21.1. USA Industrial Process Variable Instruments Market Overview

    21.2. USA Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    22. South America Industrial Process Variable Instruments Market

    22.1. South America Industrial Process Variable Instruments Market Overview

    22.2. South America Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    23. Brazil Industrial Process Variable Instruments Market

    23.1. Brazil Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    24. Middle East Industrial Process Variable Instruments Market

    24.1. Middle East Industrial Process Variable Instruments Market Overview

    24.2. Middle East Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    25. Africa Industrial Process Variable Instruments Market

    25.1. Africa Industrial Process Variable Instruments Market Overview

    25.2. Africa Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion

    26. Industrial Process Variable Instruments Market Competitive Landscape And Company Profiles

    26.1. Industrial Process Variable Instruments Market Competitive Landscape

    26.2. Industrial Process Variable Instruments Market Company Profiles

    26.2.1. ABB Ltd.

    26.2.1.1. Overview

    26.2.1.2. Products and Services

    26.2.1.3. Strategy

    26.2.1.4. Financial Performance

    26.2.2. Emerson Electric Company

    26.2.2.1. Overview

    26.2.2.2. Products and Services

    26.2.2.3. Strategy

    26.2.2.4. Financial Performance

    26.2.3. Honeywell International Inc.

    26.2.3.1. Overview

    26.2.3.2. Products and Services

    26.2.3.3. Strategy

    26.2.3.4. Financial Performance

    26.2.4. Schneider Electric SE

    26.2.4.1. Overview

    26.2.4.2. Products and Services

    26.2.4.3. Strategy

    26.2.4.4. Financial Performance

    26.2.5. Siemens AG

    26.2.5.1. Overview

    26.2.5.2. Products and Services

    26.2.5.3. Strategy

    26.2.5.4. Financial Performance

    27. Key Mergers And Acquisitions In The Industrial Process Variable Instruments Market

    28. Industrial Process Variable Instruments Market Trends And Strategies

    29. Industrial Process Variable Instruments Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Table 3: Global Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 4: Global Industrial Process Variable Instruments Market, Segmentation By Instrument, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 5: Global Industrial Process Variable Instruments Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 6: Global Industrial Process Variable Instruments Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 7: Global Industrial Process Variable Instruments Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 8: Asia-Pacific, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 9: China, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 10: India, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 11: Japan, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 12: Australia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 13: Indonesia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 14: South Korea, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 15: Western Europe, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 16: UK, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 17: Germany, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 18: France, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 19: Eastern Europe, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 20: Russia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 21: North America, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 22: USA, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 23: South America, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 24: Brazil, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 25: Middle East, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 26: Africa, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Table 27: ABB Ltd. Financial Performance
  • Table 28: Emerson Electric Company Financial Performance
  • Table 29: Honeywell International Inc. Financial Performance
  • Table 30: Schneider Electric SE Financial Performance
  • Table 31: Siemens AG Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 3: Global Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 4: Global Industrial Process Variable Instruments Market, Segmentation By Instrument, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 5: Global Industrial Process Variable Instruments Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 6: Global Industrial Process Variable Instruments Market, Split By Region, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 7: Global Industrial Process Variable Instruments Market, Split By Country, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 8: Asia-Pacific, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 9: China, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 10: India, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 11: Japan, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 12: Australia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 13: Indonesia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 14: South Korea, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 15: Western Europe, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 16: UK, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 17: Germany, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 18: France, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 19: Eastern Europe, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 20: Russia, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 21: North America, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 22: USA, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 23: South America, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 24: Brazil, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 25: Middle East, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 26: Africa, Industrial Process Variable Instruments Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2027F, 2032F, $ Billion
  • Figure 27: ABB Ltd. Financial Performance
  • Figure 28: Emerson Electric Company Financial Performance
  • Figure 29: Honeywell International Inc. Financial Performance
  • Figure 30: Schneider Electric SE Financial Performance
  • Figure 31: Siemens AG Financial Performance
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