Bourdon Tube Pressure Gauges Market Size, Industry Share, Demand, Analysis, Growth, 2023 - 2030

Bourdon Tube Pressure Gauges Industry Prospective:

The global Bourdon tube pressure gauges market size was worth around USD 1270 million in 2022 and is predicted to grow to around USD 2143 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.76% between 2023 and 2030.

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The report delves deeper into several crucial aspects of the global Bourdon tube pressure gauges market. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the Bourdon tube pressure gauges industry are comprehensively addressed in the report.

Bourdon Tube Pressure Gauges Market: Overview

A Bourdon tube pressure gauge is a widely used mechanical device that helps in displaying and measuring pressure. It can be used to measure the pressure components of liquid and gas system states. The product is simple in terms of physical appearance but continues to remain a popular choice of pressure-measuring device across industries. Most of the engineering processes in sectors such as healthcare, oil & gas, water treatment, and many other industries cannot be completed without the use of a Bourdon tube pressure gauge device. It derives its name from the Bourdon tube which is manufactured in a coil or semi-circular C shape. On one end, it is open to the atmosphere while the other end is closed. Once the system pressure within the tube changes, it straightens or expands and even slight changes can be magnified owing to the shape of the tube. This change in tube radius is sent to the indicator needle which helps in determining the internal pressure of the system.

Key Insights:

• As per the analysis shared by our research analyst, the global Bourdon tube pressure gauges market is estimated to grow annually at a CAGR of around 6.76% over the forecast period (2023-2030)
• In terms of revenue, the global Bourdon tube pressure gauges market size was valued at around USD 1270 million in 2022 and is predicted to grow to around USD 2143 million, by 2030.
• The Bourdon tube pressure gauge market is projected to grow at a significant rate due to the growing investments in the oil & gas sector
• Based on application segmentation, the chemical/petrochemical industry was predicted to show maximum market share in the year 2022
• Based on type segmentation, analog pressure charges was the leading type in 2022
• On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Bourdon Tube Pressure Gauges Market: Growth Drivers

Growing investments in the oil & gas sector to drive market growth

The global Bourdon tube pressure gauges market is expected to grow owing to the increasing investments in the oil & gas industry across the globe. In this sector, the pressure measuring tool is used for measuring pressure in pipelines, well fluids, boilers, and any other equipment that is being used. As the demand for oil & gas continues to rise with the growing consumption of these essential communities, there will be more requirements for efficient Bourdon tube pressure gauges. For instance, in 2021, India’s oil consumption was around 4.9 million barrels per day (BPD), as reported by the Indian Brand Equity Foundation.

Research studies have claimed that until the 2040s the demand for gas will continue to rise, driven by the commercial and economic growth of Asian countries. Although oil demand is expected to start declining after 2050, the current consumption rate is close to 102 million BPD. Since Bourdon tube pressure gauges are low in cost but provide accurate results, they are used extensively by oil & gas industry players. Moreover, the product is also safe to use even in high-pressure environments thus making it suitable for a wide range of applications.

Bourdon Tube Pressure Gauges Market: Restraints

Incidences of pressure gauges failure to restrict market expansion

Even though the tool is simple to use, it is bound to fail. The major concern with the failure of Bourdon tube pressure gauges is that it can lead to serious and irreparable losses. There are several reasons for the pressure gauges to undergo some form of failure. For instance, a gauge with low-temperature tolerance may start to malfunction if it is subject to high pressure. As per official research, the effect of per 10°C change in temperature on the Bourdon tube pressure gauge is around ±0.4%. Hence, if these devices are being used for higher temperatures, the recommendation is to choose a gauge that best suits the environment. Another major issue is related to overpressure or sudden depression which can cause the device to undergo a sudden spike in pressure if it is continually subject to valve opening and closing.

Bourdon Tube Pressure Gauges Market: Opportunities

Rising applications in emerging markets to provide growth opportunities

The Bourdon tube pressure gauge industry is expected to come across certain growth opportunities mainly due to the growing application of Bourdon tube pressure gauges in emerging markets that are witnessing a high influx of foreign investments along with a rising emphasis on local business development initiatives. For instance, in June 2022, Daiki Axis Japan, a leading water development company, announced that it will set up its second plant in the Haryana state of India.

The investment is expected to be worth INR 200 crore. Bourdon tube pressure gauges are used extensively in water treatment plants. Additionally, as per the International Trade Administration, China will be investing around USD 8 billion between 2021 and 2025 to install new sludge processing facilities across the country. Such trends are witnessed across industries including oil & gas, paper & pulp, and construction. India’s budget for fiscal year 2023-2024 witnessed a rise of 33% in terms of capital investment for infrastructure projects.

Bourdon Tube Pressure Gauges Market: Challenges

Rising interest in mini diaphragm gauges to challenge market expansion

The global Bourdon tube pressure gauge market growth may be challenged by the rising interest in mini diaphragm gauges that are being called excellent alternatives to the Bourdon tube counterpart. This is mainly due to the performance defaults of Bourdon tubes in industries dealing with aggressive corrosive gasses. In such situations, there is always a chance of outbreak leaks or internal particle generation. This has led to increased investment toward reducing the pressure on Bourdon tube gauges and the invention or development of mini diagram gauges could be helpful which offers extreme corrosion resistance.

Bourdon Tube Pressure Gauges Market: Segmentation

The global Bourdon tube pressure gauges market is segmented based on application, type, technology, and region.

Based on application, the global market segments are chemical/petrochemical industry, power industry, measurement, metallurgical industry, oil & gas, military machinery, pulp & paper, food & beverages, pharmaceutical, water treatment, and others. The highest growth was observed in the chemical/petrochemical industry followed by the power and oil & gas sector. These industries have extensive use of accurate pressure measuring tools such as Bourdon tube gauges since they need to track even the slightest change in the pressure otherwise it could have serious implications if remained unchecked. Rising investments in the chemical sector along with growing partnerships among players are expected to drive segmental growth. In 2021, China’s chemical industry was worth more than €1,728 billion.

Based on type, the Bourdon tube pressure gauge industry is divided into digital pressure gauges and analog pressure gauges. Currently, the highest CAGR is observed in the analog pressure gauges segment as they have traditionally been the most widely used type of pressure gauges. During the forecast period, the digital segment is projected to grow at the fastest CAGR since it offers a digital display of information, higher accuracy, and better data entry capabilities. Moreover, they reduce human error scope. Bourdon tube pressure gauges can manage fluid pressure in the range of 0.6 to 7,000 bar or 8 to 1,000 pounds per square inch (psi).

Based on technology, the global Bourdon tube pressure gauge market segments are electronics, mechanical, and hydraulic/pneumatic. Typically, most Bourdon tube pressure gauges work on mechanical technology. During the application of pressure, the tube reacts accordingly and indicates the pressure level with the help of an indicator needle. However, there are certain applications that require the use of modified Bourdon tube pressure gauges including using electronics and pneumatic technologies.

Bourdon Tube Pressure Gauges Market: Report Scope

Bourdon Tube Pressure Gauges Market: Regional Analysis

• Asia-Pacific to generate high revenue during the forecast period

The global Bourdon tube pressure gauges market is expected to be led by Asia-Pacific during the forecast period. This is mainly due to the growing application of pressure measuring gauges in the rising economies of countries such as China and India along with other nations such as Japan, Australia, and Malaysia to name a few. Bourdon tube pressure gauges are low-cost investments and hence an ideal choice for emerging economies that are currently heavily in all large-scale industries for better economic growth.

In April 2023, India's state-owned oil company Oil and Natural Gas Corporation (ONGC) announced that it will invest more than USD 7 billion to ensure a year's reversal in terms of decline in oil & gas production. Another research concluded that India is expected to register an investment of over 200 billion by 2028 in the oil & gas sector. Growth in Europe is expected to be significant mainly due to the presence of key manufacturers of pressure gauges in this region, especially Switzerland, the largest supplier of Bourdon tube pressure gauges. Moreover, the product was invented in this region and has a large consumer base driven by several end-user verticals.

Bourdon Tube Pressure Gauges Market: Competitive Analysis

The global Bourdon tube pressure gauges market is led by players like:

• WIKA Alexander Wiegand SE & Co. KG
• Ashcroft Inc.
• Emerson Electric Co.
• Baumer
• Omega Engineering Inc.
• Dwyer Instruments Inc.
• Noshok Inc.
• AMETEK Inc.
• Yokogawa Electric Corporation
• Honeywell International Inc.
• McDaniel Controls Inc.
• Bourdon-Haenni SA
• SMC Corporation
• REOTEMP Instruments
• ABB Ltd.

The global Bourdon tube pressure gauges market is segmented as follows:

By Application

• Chemical/Petrochemical Industry
• Power Industry
• Measurement
• Metallurgical Industry
• Oil & Gas
• Military Machinery
• Pulp & Paper
• Food & Beverages
• Pharmaceutical
• Water Treatment
• Others

By Type

• Digital Pressure Gauges
• Analog Pressure Gauges

By Technology

• Electronic
• Mechanical
• Hydraulic/Pneumatic

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa