Process Instrumentation Market is expected to reach US$ 27.93 Billion by 2031

Process Instrumentation Market Forecast to 2031: Key Insights

According to our latest study on "Process Instrumentation Market – Global and Regional Share, Trend, and Growth Opportunity Analysis – by Technology, Flow Meter, Level Meter, Application, and Geography," 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 expected to register a CAGR of 5.8% during 2025–2031. Manufacturers are increasingly emphasizing operational excellence. Various industries are progressively focusing on optimizing their processes to improve efficiency, reduce costs, and enhance productivity. Further, 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. The popularity of smart instrumentation is likely to be a key process instrumentation market trend.

The demand for process instrumentation in Asia Pacific is primarily driven by the oil & gas and energy & power industries due to its ever-increasing population. The market is likely to record significant growth owing to increasing investments in clean energy infrastructure to meet the requirement for electricity, as well as reduce reliance on fossil fuels to generate energy. For instance, in June 2023, Latham & Watkins provided counsel to ICG, the global alternative asset manager, regarding its investment of US$ 50 million in Amp Energy India Private Ltd. (Amp India), a prominent renewable energy platform, with the potential to invest an additional US$ 50 million.

Process Instrumentation Market

In Europe, the process instrumentation market is growing with the widespread adoption of Industry 4.0 principles and the integration of technologies such as IoT and AI. Market players, such as Siemens AG, Filter, Process Instruments UK Ltd., and Müller Industrie-Elektronik GmbH, are present in the process instrumentation market in Europe. Product launches by the region’s market players contribute to the process instrumentation market. The rapid growth of the pharmaceutical industry drives strong demand for high-precision, regulatory-compliant process instrumentation to ensure product quality, sterility, and operational efficiency. The Europe pharmaceutical and biotechnology sectors are rapidly growing owing to the increasing healthcare demand. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), the production in the pharmaceutical industry was ~US$ 390,000 million in 2023, an increase from ~US$ 363,300 million in 2022. The rapid growth of the pharmaceutical industry drives strong demand for high-precision, regulatory-compliant process instrumentation to ensure product quality, sterility, and operational efficiency.

Increasing Expansion of Pharmaceuticals and Chemical Industries to drive the Process Instrumentation Market Growth

Government initiatives and investment will contribute to these sectors' growth. For instance, the Indian government's robust support for the pharmaceutical sector through initiatives such as the Production Linked Incentive (PLI) scheme, the Promotion of Research and Innovation in Pharma MedTech sector (PRIP) scheme, and the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) is accelerating domestic manufacturing and innovation. This surge in production capacity and technological advancement significantly boosts the demand for process instrumentation to ensure quality control, regulatory compliance, and operational efficiency. Saudi Arabia’s continued expansion in hydrocarbon and gas production, along with investments in downstream industries such as chemicals, is set to boost the chemical sector's capacity and complexity. This growth drives the demand for process instrumentation in the chemical industry to enable precise control, enhance safety, improve process efficiency, and support automation in large-scale, high-throughput facilities. Thus, the growing expansion of pharmaceutical and chemical industries fuels the process instrumentation market growth

Process Instrumentation Market: Segmental Overview

Based on application, the market is segmented into oil and gas, energy & power, water & wastewater, food & beverage, marine, petrochemical, chemical, and others. The chemical segment held the largest process instrumentation market share in 2024. The safety and efficiency of any chemical company depend largely on the selection of the right process instrumentation. The reactor pressure transmitters, distillation column level measurements, and state-of-the-art technology are essential for successful operations. Pressure measurement is used in the chemical industries for distillation columns, reactors, diaphragm seals, and others that operate in highly corrosive media, such as chlorine, hydrochloric acid, and sulfuric acid. A wide range of temperatures and pressures characterizes these applications. Various players across the globe are providing process instruments for the chemical industry. For example, Fuji Electric provides a wide range of hydrostatic level sensors with diaphragm seals resistant to the most severe chemical aggressions. Level sensors are ideal for the storage and supply of raw materials for processes in buffer tanks, toxic liquids, storage of solvents, ammonia, chlorine, etc.

Process Instrumentation Market Analysis: Competitive Landscape and Key Developments

The global process instrumentation market report emphasizes the key factors driving the market and prominent players' developments. ABB Ltd., Emerson Electric Co.; Honeywell International Inc.; Brooks Instrument; Schneider Electric; Siemens; Yokogawa Electric Corporation; Endress+Hauser Group Services AG; Metso Outotec Corp; and Fuji Electric Co., Ltd are among the prominent players profiled in the global process instrumentation market report. The market players focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.

• In March 2025, Advanced gas analysis and flow measurement technology now expands Endress+Hauser’s comprehensive instrumentation portfolio. This results from a strategic partnership in the field of process automation with the German sensor specialist SICK. It allows customers to access a broader range of products from a single source and benefit from enhanced expertise in gas analysis and measurement technology. The collaboration is designed to offer plant operators enhanced support in increasing efficiency, protecting the environment, and reducing carbon footprint. ~800 sales and service employees from SICK have transferred to Endress+Hauser across 42 countries.
• In July 2024, Emerson announced the release of the Rosemount SAM42 Acoustic Particle Monitor for measuring the amount of entrained sand in the output from oil and gas wells. The monitor can detect extremely low concentrations of entrained sand in challenging conditions with a high level of measurement repeatability and sensitivity. An all-in-one design features onboard data processing, explosion-proof protection, and simple installation with no pipe penetration needed.

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