Westford, USA,, April 27, 2023 (GLOBE NEWSWIRE) -- The global Thermal Mass Flow Meter market size is expected to reach USD 1111.9 billion by 2030 and exhibit a CAGR of 5.5% in the forecast period (2022−2030), according to SkyQuest's latest research report. The extreme precision offered by thermal mass flow meters that are able to measure both low and high flow rates with a high degree of accuracy has made the demand for accurate and reliable flow measurement in industries such as oil and gas, chemical and food and beverage.
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Government Incentives and Trends to Promote the Use of Thermal Mass Flow Meters
The governments of various countries across the globe have initiated several initiatives that could impact the market's future. The U.S. Department of Energy's (DOE) Advanced Manufacturing Office is investing in research and development to improve energy efficiency and reduce emissions in manufacturing processes. This includes the development of advanced sensors, such as thermal mass flow meters, that can provide real-time data on energy consumption and emissions. The Chinese government's "Made in China 2025" initiative is focused on developing advanced manufacturing capabilities and improving the competitiveness of Chinese manufacturing companies. This includes investing in advanced sensor technologies, such as thermal mass flow meters, that can improve efficiency and reduce emissions in a range of industries.
There are several trends, such as the development of wireless connectivity and cloud-based data storage, which allows for remote monitoring and control of flow measurement data, and another trend is the integration of advanced diagnostic capabilities which can help identify and troubleshoot issues with flow measurement systems in real-time data.
Insertion Type demand to grow substantially in the forecast period
Insertion type dominated the global market owing to its versatility and compatibility with a wide range of pipe sizes and materials. It also can be installed without cutting or welding the pipe, which reduces installation time and cost. They also provide high accuracy measurements, making them suitable for use in various industries.
Process control and Monitoring Application is the leading application segment
In terms of application, the Process control and monitoring application is the leading segment due to the need for accurate and reliable flow measurement data for critical industrial processes. For instance, in the oil and gas industry, thermal mass flow meters are used for measuring gas flow rates in pipelines, which is critical for safety and regulatory compliances. Similarly, in the chemical industry, thermal mass flow meters are used for measuring flow rates of liquids and gasses in chemical processes to ensure optimal production and quality control.
North America and Asia-Pacific are the leading Markets Due to the growing Industrial Sector.
Region-wise, North America is one of the largest growing markets due to the presence of key market players. The region has a well-established industrial sector and will also exhibit study growth due to the increasing adoption of thermal mass flow meters in various industries such as oil and gas, chemicals and food beverages. In terms of government initiatives, the US Department of Energy's Office of Energy Efficiency and Renewable Energy has launched several programs aimed at promoting energy efficiency and reducing carbon emissions in the industrial sector. One such program is the Advanced Manufacturing Office, which provides funding and technical support for the research and development of advanced manufacturing technologies, including flow measurement and control systems.
Asia-Pacific is one of the fastest-growing markets owing to the increase in the industrial sector. The adoption of advanced flow measurement and control systems, and government initiatives promoting industrial growth and innovation.
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Thermal Mass Flow Meter Market Report Suggests:
- The global market size is projected to grow by 1111.9 million by 2030 owing to extreme precision offered
- In terms of application, process control and monitoring segment dominates due to the need for accurate and reliable flow measurement data in critical industrial processes
- In terms of type, the insertion type segment is projected to gain more popularity due to its versatility and compatibility with a wide range of pipe sizes and materials
- North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due industrial growth
Thermal Mass Flow Meter Market Segmentation:
The global Thermal Mass Flow Meter market report is segmented based on Product type, application, and region.
By ProductType
- Insertion Thermal Mass Flow Meter
- Inline Thermal Mass Flow Meter
- Portable Thermal Mass Flow Meter
By Application
- Oil & Gas
- Water and Wastewater Treatment
- Chemical
- Food & Beverages
- Pharmaceutical
- Others
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Thermal Mass Flow Meter Market Major Company Profiles:
- Sierra Instruments
- Brooks Instrument
- Endress+Hauser
- ABB
- Honeywell
- Emerson
- Yokogawa
- Kurz Instruments
- Alicat Scientific
- Sage Metering
- Fluid Components International (FCI)
- KROHNE
- E+E Elektronik
- RITTER
- ONICON
- Vogtlin Instruments
- Bronkhorst
- Simtech Process Systems
- AXIOM Process
- Fox Thermal Instrument
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