Industrial Gauges Market: Clear Understanding of the Competitive Landscape and Key Product Segments
Gauges are the mechanical tools used for measurement of pressure, temperature and vacuum. The gauges are an integral part in the industries through which the pressure or temperature are measured and controlled. The industrial gauges are available for pressure as well as temperature and the correct selection depends on the various parameters. For instance, the ambient conditions, pressure & temperature range, conditions affecting the system and mounting method are some of the important criteria for industrial gauge selection.
In chemical industries, the industrial gauges are critical for controlled operation since the precise temperature and pressure conditions are to be met. These operating pressure-temperature scales are controlled via software systems in the control rooms in the manufacturing industries. For instance, in boiler application, a pressure gauge also called as the steam gauge is used for steam pressure indication mounted on the steam drum. In food industries, temperature control is a primary concern for food processes in order to assure that quality is maintained from production up to storage.
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The global industrial gauges market is expected to be mostly driven by the factors such as growth in the end use industries, strict regulation and norms for industrial production and increasing industrialisation in countries such as South Africa, India, China, Taiwan, South Korea, Indonesia etc.
Industrial gauges are the requirement for industries where pressure and temperature are critical parameters. The growing industrialisation is one of the factors driving the consumption of industrial gauges. The growing requirement for suitable pressure measurement for liquid or gaseous media which can otherwise obstruct the manufacturing systems drives the global industrial gauges market.
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The industrial gauges market is primarily a B2B market, wherein the industrial gauge profit margin is dependent upon various factors such as minimum order quantity, transportation etc. The government regulations for the machinery and control equipments usage in an industry also drive the global industrial gauges market to a great extent.
This is because in most of the cases, in an industries wherein large amount of equipment such as boiler, condenser, pumps etc. are employed and requires a specific amount of control, operators try to control the systems by employing less no. of gauges in order to save the costs. Thus, strict regulation towards control and measurement equipment drives the global industrial gauges market. Furthermore, the after service market of the industrial gauges is also influenced by the sale of industrial gauges.
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The global industrial gauges market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). The North America and Western Europe accounts major share in the global industrial gauges market. This is attributed to the presence of vast manufacturing bases such as chemical, food, diary, paper & pulp etc. which requires industrial gauges in the manufacturing plants.
In APEJ region, the industrial gauges market is expected to get a boost with the western companies shifting their manufacturing facilities in the region owing to the favourable factors of cheap labour and raw material resources. The MEA industrial gauges market is majorly driven by the oil and gas industries. The petroleum refineries are the prime areas where pressure and temperature gauges are widely employed.