Pune, India, Aug. 10, 2021 (GLOBE NEWSWIRE) --
The global mass flow controller market size is projected to show tremendous growth during the forecast period owing to the high adoption across various industries to control the flow of gases and liquids used in production processes.
Companies using mass flow controllers regulate the rate at which a particular gas is supplied and keep a check on whether the supplied gas is in line with the pre-set rate. These controllers are extensively used in food & beverage facilities. Certain gases play a vital role in keeping the taste and freshness of the food item intact. Many organizations are increasing their focus on the development of innovative digital technologies that will make mass flow controllers more advanced in their functioning.
Some vital trends that will foster mass flow controller market scope are illustrated below:
Adoption of green energy sources rises in North America:
North America mass flow controller market size is expected to reach $250 million by 2027. Renewable sources of energy like wind and solar are gaining popularity among end-users in the region. Mass flow controllers are widely used to regulate the supply of various chemical compounds and gases while manufacturing photovoltaic solar cells. Many electric and gas-based firms announced strong investment plans to support the production of green hydrogen. This gas will be used to generate zero-carbon power.
For instance, NextEra Energy, in July 2020, announced that it would invest nearly $65 million towards the development of a green hydrogen plant that will generate power and light in Florida. The organization is planning to use around 20 MW electrolyzers to produce green hydrogen.
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Stainless steel highly preferred for mass flow controllers production:
Stainless steel and exotic alloys and are commonly used raw materials to produce mass flow controller devices. Among these, stainless steel will find high adoption among end-users in the coming years. The regional market size from stainless steel segment will record a stable CAGR of 5% over 2021-2027. A major reason for this is attributed towards the high demand for the components in the U.S. pharmaceutical sector.
Bioprocessing systems must manage the flow of diverse gases that go into the bioreactor chambers. For this purpose, stainless steel is highly preferred in North America. It offers beneficial features like high pressure, minimal maintenance, greater temperature resistance and corrosion & chemical resistance. Festo, in May 2020, announced the launch of its VEMD flow control valve powered by piezo technology, that can be used for various pharma and industrial applications.
Canada mass flow controller market witnesses consistent progress:
Canada market will experience a steady CAGR of 3% through 2027. One of the major factors that is contributing towards this is the rise in funding and infrastructure development initiatives in the country’s oil and gas industry. Canadian province Alberta, in 2021, announced an investment of about $1.5 billion to launch the construction of Keystone KL pipeline. The country will make use of mass flow controllers for various processes like production, distribution, treatment and processing of different hydrocarbon fluids, compounds, and gases.
Government initiatives foster mass flow controller production in APAC:
Asia Pacific mass flow controller market size will become worth more than $1 billion by 2027. Governments across the region are introducing schemes to encourage the development of smart manufacturing plants. According to a report by the International Trade Administration, Singapore and the World Economic Forum collaborated with each other in January 2021 for the global unveiling of the Smart Industry Readiness Index, developed by Singapore.
The above-mentioned initiative attracted a total investment of nearly $300 million in FY 2020. These funds will be used by the authorities to introduce smart technologies in manufacturing processes.
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Differential pressure flow meters grow in use across Asia Pacific:
Coriolis mass flow meter, differential pressure flow meter and thermal mass flow meter are some of the popular product categories of the market. Differential pressure flow meters will attract high demand from end-users in APAC market, as compared to other products.
The regional mass flow controller market size from differential pressure flow meter segment will record 7% CAGR up to 2027 because of rising demand from oil & gas industry. These devices are widely used in large-diameter, high pressure, and high temperature pipelines. These meters help the end-users in measuring and regulating the volume of flow of gases, liquids, and steams. Some of their important features are high adaptability to varied flow rates and pipe sizes, suitable for all pressures and temperatures and ability to measure the flow of both liquid and gas.
South Korea market gains momentum:
South Korea mass flow controller market is anticipated to record a CAGR of 6% through 2027. One of the major reasons for this is the high demand for instruments that measure the mass flow rate of liquids and gases during the production of pharmaceutical products. The nation’s government has announced that it aims to invest $2.6 billion towards research and development activities in the field of biotechnology. This has encouraged South Korean pharma companies like Celltrion Inc. to invest $452 million which will be used to build its third production plant in the country.
European hospitals raise demand for mass flow controllers:
Europe mass flow controller market size will cross $150 million by 2027 because of the growing need among hospitals and medical centers for these devices. Hospitals use mass flow controllers to help them regulate the flow of medical gases like oxygen, nitrous oxide, and nitrogen. This equipment has in-built alarms that send signals to the medical staff if the gas supply has been interrupted.
The demand for respiratory products and fluid & gas measurement in medical equipment will raise the need for mass flow controllers. Various healthcare instruments like air pressure machines, anesthesia supply monitors and ventilators use mass flow controllers to monitor and control the flow of gas.
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Expansion of Europe water and wastewater treatment sector:
Europe market size from water & wastewater treatment sector will register 4.5% CAGR through 2027. An important reason behind this is the high use of these devices in desalination process used to manufacture potable water. The mass flow controllers monitor the flow of gases like ozone, digester, and oxygen.
The urban wastewater plants in the region are receiving great support from governments through their funding schemes and industrial policies. For example, the European Commission announced that it would invest $17.7 billion to develop advanced sewage networks and wastewater plants, under its Cohesion policy. This initiative will drive the demand for mass flow controllers in the region.
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