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The increasing demand for chemicals and oil and gas are expected to drive innovation in industrial process variable instruments manufacturing, thus driving the market during the forecast period.

The global industrial process variable instruments market is expected to grow from $53.44 billion in 2022 to $56.42 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The global industrial process variable instruments market size is expected to grow to $68.29 billion in 2027 at a CAGR of 4.9%.

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Global Industrial Process Variable Instruments Market Segments Include:

• By Type: Temperature, Pressure, Level, Flow, Other Types
• By Instrument: Transmitter, Control Valve
• By Application: Chemicals, Oil & Gas, Electronic and Electrical, Other Applications
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global industrial process variable instruments market in 2021.

Major Market Players in the industrial process variable instruments market include ABB Ltd., Emerson Electric Company, Honeywell International Inc., Schneider Electric SE, Siemens AG, Ametek Inc.

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.

The Industrial Process Variable Instruments Global Market Report 2023  provides a industrial process variable instruments market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial process variable instruments market forecast analyzes industrial process variable instruments market size, industrial process variable instruments market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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.

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