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The global process instrumentation market size was valued at US$ 19.18 billion in 2024 and is expected to reach US$ 27.93 billion by 2031. The process instrumentation market is estimated to register a CAGR of 5.8% during 2025–2031. The increasing popularity of smart instrumentation is likely to remain a key trend in the market.
Process Instrumentation Market Analysis
The rising industrial automation, growing need for efficient energy, and increasing expansion of pharmaceuticals and chemical industries are driving the process instrumentation market growth. Rapid industrialization in Brazil, India, and China is a significant contributor to the adoption of process instrumentation. Industries such as chemicals, oil & gas, and power generation continue to be large energy consumers. As a result, countries are responding to energy efficiency programs with policies and programs to guide specific changes in energy use across sectors. For example, China’s economy is energy-intensive due to a huge number of manufacturing industries. The Central Government of China has continued to develop measures to increase building energy efficiency. Energy appliance regulations and labeling, as well as energy service corporations (ESCOs), have all played crucial roles in this. China’s 14th Five-Year Plan (2021–2025) contains a mandatory national target to lower energy intensity by 13.5% below 2020 levels by 2025. Also, Canada’s Green Industrial Facilities and Manufacturing Program (GIFMP) provides financial assistance to support the implementation of energy efficiency and energy management solutions.
Process Instrumentation Market Overview
Process instrumentation and sensors are the measurement and control systems used in industrial and manufacturing processes to monitor and control variables such as pressure, temperature, flow, and level. The use of process instrumentation has numerous benefits, including improved product quality, fewer human errors, minimal emissions, and increased cost savings. Process instruments offer significant parameters such as recording, positioning, measuring, and controlling, which are critical for the smooth operation of a manufacturing unit. These parameters help achieve high levels of absolute reliability, accuracy, and precision. Various businesses are focusing on boosting productivity, lowering operational costs, and reducing energy use. Process instrumentation is being used in various industrial businesses due to its vital function in monitoring and optimizing energy consumption, manufacturing processes, and equipment performance. These process instrumentations provide real-time information on energy use in a manufacturing process. This enables improved management and optimization, resulting in less energy loss.
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Process Instrumentation Market: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Process Instrumentation Market: Strategic Insights
Naveen
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Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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Process Instrumentation Market Drivers and Opportunities
Rising Industrial Automation to Favor Market
The adoption of automation in the industrial sector is growing across the globe. Manufacturers are becoming more conscious of major benefits associated with capital expenditure, product quality, and time to market. Industrial automation is helping manufacturers by eliminating the need for manual labor and speeding up processes. Several market players are providing industrial automation solutions, such as Mitsubishi Electric, Omron Corp., and Rockwell Automation. These players are involved in the launch of industrial automation platforms. For instance, in April 2023, Rockwell Automation, Inc. launched FactoryTalk OptiX. The FactoryTalk Optix is a contemporary cloud-enabled human-machine interface (HMI) platform that enables users to create, test, and launch apps from a web browser remotely. It assists clients in realizing their vision by utilizing new degrees of interconnection, scalability, and cooperation in industries. Process instrumentation in industrial automation employs equipment such as sensors and transmitters to monitor characteristics such as temperature, pressure, and flow rates in a manufacturing or processing environment customized to the operation's needs.
Increasing Investments in Energy & Power Sector
Governments of various countries are investing in the energy & power sector. For example, according to the US government, in November 2024, the Bipartisan Infrastructure Law included over US$ 62 billion in funding through the Department of Energy to support the transition to a clean energy future. This investment spans clean energy demonstration and deployment projects, domestic manufacturing of advanced technologies, and efforts to strengthen the nation’s power grid against extreme weather—all while aiming to lower consumer costs and create high-quality union jobs. Such a sweeping initiative is also expected to drive significant growth in the process automation market as utilities and energy providers look to implement advanced control systems, smart infrastructure, and real-time data analytics to meet the evolving demands of a modernized grid.
Process Instrumentation Market Report Segmentation Analysis
Key segments that contributed to the derivation of the process instrumentation market analysis are technology, flow meter, level meter, and application.
- Based on type, the market is categorized into flow meter, pressure and temperature sensor, analytical instrument, and level meter. The flow meter segment dominated the market in 2024.
- On the basis of flow meter, the market is divided into mass flow, EMF, vortex, ultrasonic, and others. The ultrasonic segment dominated the market in 2024.
- Based on level meter, the process instrumentation market is segmented into high frequency radar, TDR, and others. The TDR segment dominated the market in 2024.
- Based on application, the process instrumentation market is segmented into oil and gas, energy and power, water and wastewater, food and beverage, marine, petrochemical, chemical and others. The oil and gas segment dominated the market in 2024.
Process Instrumentation Market Share Analysis by Geography
The geographic scope of the process instrumentation market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
North America dominated the market in 2024. The process instrumentation market in North America is influenced by federal regulatory frameworks established by the authorities, such as the U.S. Environmental Protection Agency (EPA) for environmental and emissions monitoring. These regulations dictate the use of advanced air quality monitoring technologies to ensure compliance with National Ambient Air Quality Standards (NAAQS), which in turn sustains demand for precise and reliable instrumentation. As regulations demand greater data accuracy and real-time reporting, there's growth in connected instrumentation that supports remote monitoring and automated alerts. Heightened emphasis on QA/QC has created a demand for certified calibration instruments and standards-compliant test kits. Thus, the regulatory landscape that mandates rigorous data collection, quality assurance, and technological advancement fosters the process instrumentation market in North America. The region is focused on Industry 4.0, which includes the adoption of smart manufacturing and digital industrial transformation. The Fourth Industrial Revolution is driving demand for real-time data acquisition, automated control systems, and smart instrumentation across manufacturing sectors. The association supports the Industry 4.0 revolution in the region. For example, a government-led SMART program, supported by Canadian Manufacturers & Exporters (CM&E), can significantly boost the process instrumentation market by offsetting technology adoption costs for SMEs. Funding diagnostics and assessments enables wider use of smart sensors, automation, and data-driven control systems. This drives efficiency and digital readiness across manufacturing sectors.
Process Instrumentation Market Report Scope
Process Instrumentation Market News and Recent Developments
The process instrumentation market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the process instrumentation market are listed below:
- Metso announced plans to implement structural adjustments in certain parts of its Minerals equipment business. The planned measures will address the changes in the market environment that are driven by an increasing emphasis on strategic minerals that support the energy transition. The planned changes will improve agility, extend customer reach and coverage, and enable better alignment with customers. Metso seeks to implement efficiency improvements to compensate for slow decision-making that is influencing large customer investments. (Source: Metso, Press Release, May 2024)
- Brooks Instrument, a world leader in advanced flow measurement and control, recently celebrated the grand opening of its new manufacturing facility in Penang, Malaysia. The facility produces mass flow controllers (MFCs) used in semiconductors and other critical gas flow control applications. The 57,000-square-foot plant, which began shipping MFCs in January 2024, is Brooks Instrument’s fourth global production area. The other locations are in the US, Hungary, and Korea. (Source: Brooks Instrument, Press Release, September 2024)
Process Instrumentation Market Report Coverage and Deliverables
The “Process Instrumentation Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Process instrumentation market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Process Instrumentation market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Process Instrumentation market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the process instrumentation market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The estimated value of the process instrumentation market is expected to reach US$ 27.93 billion by 2031.
The market is expected to register a CAGR of 5.8% during the forecast period.
Emerson Electric, Honeywell International, Yokogawa Electric Corporation, Endress + Hauser Group, and Siemens AG are among the leading players in the process instrumentation market.
North America dominated the process instrumentation market in 2024.
The rising industrial automation, growing need for efficient energy, and increasing expansion of pharmaceuticals and chemicals are driving the market.
The popularity of smart instrumentation is likely to remain a key trend in the market.
The List of Companies - Process Instrumentation Market
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Brooks Instrument
- Schneider Electric
- Siemens
- Yokogawa Electric Corporation
- Endress+Hauser Group Services AG
- Metso Outotec Corp
- Fuji Electric Co., Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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