August 17, 2017
Wellesley, Mass., Aug 17, 2017 -- The growing use of emerging communication and sensor technologies, along with an end-user shift from capital to consumer goods, is reshaping the instrumentation sensors for fluid control industry. A new BCC Research report predicts the global market for this industry to grow at a 6.7% CAGR to reach $16.2 billion by 2021, up from $11.8 billion in 2016.
Instrumentation Sensors for Fluid Power: Stationary and Mobile Applications reports that smart transmitters are replacing conventional transmitters, a shift due to the revolutionary developments occurring in the relevant technologies, including the design of high-performance microcontrollers and low-power devices, computer integrated manufacturing (CIM), data communication and industrial networking. Smart devices offer the potential of remote interaction using a handheld configurator. Moreover, when smart field devices are connected to a Fieldbus, they can perform various operations otherwise unimaginable using the conventional devices.
The competitive position of the main players in the instrumentation sensors for the fluid control market is well guarded due to protected and patented technologies used by General Electric, Emerson, Siemens, Vega, Honeywell, Schneider Electric, Krohne, Yokogawa, and other original equipment manufacturers in the stationary industry. In the mobile machinery sectors, position sensors are integrated in hydraulic cylinders for position detection of piston rods, a method also used by OEMs such as Parker Hannifin, Hyde and Pepperl + Fuchs.
"The use of Intelligent process variable transmitters and digital field communications is expanding. End-users are demanding even greater functionality and benefits from their intelligent instrumentation," says BCC Research analyst B.L. Gupta, who authored the report. "Manufacturers of instrumentation sensors see this trend as customers focus more on the cost and conditions of production, and these are two key reasons why it's happening."
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Instrumentation Sensors for Fluid Power: Stationary and Mobile Applications( IAS117A )
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