January 12, 2011 - The worldwide market for Process Field Instruments will grow at an average annual rate of about 5 percent from 2010 through 2015 according to the most recent forecast update of Process Instrumentation and Automation markets conducted by the Global Foresight Group. Pressure, Temperature, Flow and Level Product Growth The Global Foresight Group tracks over 160 product lines in 12 process industries and 13 global regions in the Industrial Process Automation Market. Process field instruments include all key pressure, temperature, flow and level instruments. In 2010, North America accounted for approximately 31 percent of the total market demand for process field instruments, while Europe (EU) was 23 percent.
BRIC countries (Brazil, Russia, India and China) made up another 19 percent of the demand. All other countries provided the remainder.
Regional Growth will be outside of North America and Europe
Brazil, Russia, India and China (BRIC Countries) will provide the highest growth rates for these instruments in the forecast period. This will continue the decline of the North American and European market shares. North American market share will be lowered from about 31 percent to approximately 29 percent of by 2015, while European share will be lowered from 23 percent to 21 percent of the total. The growth in OTHER countries will primarily be in Korea, Taiwan and the Middle East. Newer electronic technologies will continue to grow at the expense of older mechanical technologies.
Differential Pressure technologies have continued to grow even though they are an older established technology due to the expansion of multivariable transmitters, wireless options and improvements in overall performance.