Pune, India, Feb. 03, 2022 (GLOBE NEWSWIRE) -- The global flow meter market is prognosticated to witness exponential growth, attributable to various company collaborations, contracts, mergers and acquisitions, and other such strategies adopted by market vendors. Fortune Business Insights in their report titled, “Flow Meter Market Size, Share and Global Trend By Type (Positive Displacement, Thermal, Coriolis, Electromagnetic, Ultrasonic, Turbine, Vortex Shedding, Differential Pressure), By End-user Industry (Water & Waste Water, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Refinery & Petrochemicals, Food and Beverage, Pharmaceuticals) and Geography Forecast till 2029,” predicts such initiatives to prove beneficial for the market in the coming years.
The report on the flow meter market presents a comprehensive overview, primarily focusing on factors repelling or attracting the market. It lists significant players and major innovations that will help players invest accordingly for better revenue generation. All information presented in the report is extracted from both primary and secondary research methods. The report is available for sale on the company website.
As per the current flow meter market trends, different classifications of the market include type, end-user, and geography. Further segmentation of the current flow market type includes differential pressure, turbine, electromagnetic, thermal, vortex shedding, ultrasonic, coriolis, positive displacement, and others. In terms of end-user industry, the market is categorized into pharmaceuticals, refinery & petrochemicals, pulp & paper, chemicals, water, and wastewater, food & beverage, metals & mining, power generation, oil & gas, and others.
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Companies profiled in the flow meter market are:
- Thermo Fisher Scientific
- Adept Fluidyne
- Brooks Instrument
- Omega Engineering EMEA
- SIKA Dr. Siebert & K hn GmbH & Co. KG
- ABB
- Scharf Automation Pvt. Ltd.
- Endress+Hauser Group
- Emerson, Forbes Marshall
- TSI Incorporated
- KROHNE Messtechnik GmbH
- CS Instruments
- Yokogawa
- TLV International Inc.
- Azbil Corporation
- Alicat Scientific
- Kral AG
- Toshniwal Instruments
- Electronet
- Parker
- Schneider Electric
- Max Machinery Inc.
- WIKA Group
Highly Efficient Measurement Infrastructure to Promote Market Growth
The surge in the number of industries such as water and wastewater industry, and oil and gas industries are considered prime factors boosting the flowmeter market growth. Besides this, flow meters help to measure both non-linear and linear mass or the flow rate of a gas or a liquid as per volume. This property is also anticipated to help increase the flow meter market size in the coming years.
The rising demand for maintenance-free and highly efficient measurement infrastructure is also anticipated to help the market attract more revenue between 2019 and 2026. Besides this, the demand for intelligent flow meters in high-end applications will help drive the market in the long run.
However, factors such as high initial costs of magnetic flow meters and coriolis may hamper the market revenue. This, coupled with the lack of skilled technicians may also cause hindrance to the overall market growth. Nevertheless, the surge in demand for process automation from regions such as Asia Pacific is likely to create lucrative growth opportunities for the market in the future.
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Rapid Urbanization and Industrialization to Help Asia Pacific Emerge Dominant
Among regions, Asia Pacific is anticipated to hold the maximum portion of the flow meter market share during the forecast period. This is attributable to the rapid industrialization, urbanization, and rise in power generation plants in nations such as India, Bangladesh, China, Vietnam, and others. On the other side, the refurbishment, upgradation, and modernization of flow measurement in North America and Europe are likely to witness steady growth in the market. Due to the strong presence of the oil and gas industry, there is a high demand for remotely monitored flow meters in North America and the Middle East markets. Furthermore, there is high growth potential for Africa market because of the lack of industrialization and urbanization in the region.
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Part II: Mass Flow Controller Market
The global mass flow controller market is expected to grow at a fast pace owing to their increasing usage in several industries, such as medical and semiconductors. Fortune Business Insights published this information in an upcoming report, titled, “Mass Flow Controller Market Size, Share and Global Trend by Media Type (Gas, Liquid), By Flow Rate (Low, Medium, High) By Material (Stainless Steel, Alloys, Others), By Technology (Analog, Profibus, Ethernet), By Application (Catalyst Research, Gas Chromatography, Spray & Coating Processes), By End-User (Chemicals, Semiconductors, Pharmaceuticals) and Geography Forecast till 2029.” The report further mentions that at present, the medical sector is considered to be one of the fastest-growing sectors. Mass flow controllers are applied in various medical procedures, namely, ventilation devices. Moreover, the speedy development of industrial electronic products will also contribute to the mass flow controller market growth during the forecast period.
The report is prepared on the basis of elaborate market analysis with accurate inputs from renowned industry participants. It offers detailed coverage of mass flow controller market trends, growth drivers, obstacles, segments, and other challenges.
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North America to Dominate Owing to Increasing Usage of Mass Flow Controllers in the Healthcare Sector
The mass flow controller market is geographically categorized into Asia Pacific, North America, the Middle East, and Africa, Latin America, and Europe. Out of these regions, North America is projected to lead the market in the coming years. The growth is attributable to a rise in the usage of mass flow controllers in the healthcare and medical industries. Also, increasing technological development would contribute to growth.
Asia Pacific, on the other hand, will showcase significant growth owing to the presence of numerous emerging countries, such as China and Japan. They are the largest manufacturers of medical equipment and semiconductors. Besides, China is a major manufacturer of electronic devices, namely, laptops, smartphones, cameras, and more. Semiconductors are extensively used in all these devices. It would aid in boosting the mass flow controller market size in this region. In the Middle East and Africa, the market is anticipated to showcase steady growth. It is likely to occur because of the presence and profitable expansion of the oil and gas industry in this region. The European Medical Agency located in Europe is persistently bringing in innovative technologies in the medical industry. It will lead to the development of the pharmaceutical industry that would, in turn, affect the market positively.
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Companies Focus on Strengthening Position by Launching New Products and Acquiring Other Companies
The market is led by several international organizations owing to the high investments in acquisition and merger activities, research and development, patents, and high brand value. The industry is set to exhibit high competition as the players are aiming to increase the mass flow controller market share by signing contracts and launching new products. Below are two of the most recent industry developments:
- February 2019: MKS Instruments, Inc., a provider of instruments, subsystems, and process control solutions, headquartered in the U.S., declared that it has successfully completed the acquisition of all the outstanding and issued common shares of Electro Scientific Industries, Inc. (ESI) for approximately USD 1 Billion. ESI is a high technology company based in the U.S. MSK funded the transaction with a blend of proceeds from a 7-year USD 650 Million secured term loan and available cash on hand. The term loan was rated BB+ by Ba1 and S&P. The officials of MKS declared that they will be able to widen their position in the market by expanding their solutions for advanced market and Surround the WorkpieceSM offerings.
- January 2019: Brooks Instrument, a manufacturer of flow control and measurement equipment based in the U.S., announced that it has added the EtherNet/IP digital communications interface to its most popular SLA5800 series mass flow controller (MFC) range of products. The SLA5800 Series is ideal for applications in the thin film, life science, fuel cell, chemical/petrochemical research, analytical, laboratory, and other segments. It provides high repeatability, industry-leading zero stability, and high accuracy. It further offers a much better zero-drift specification as compared to the other products from the competitors.
Fortune Business Insights profiles out some of the reputed companies operating in the mass flow controller market. They are as follows:
- Burkert Fluid Control Systems
- Bronkhorst High-Tech
- Teledyne Hastings Instruments
- Brooks Instrument
- Sensirion
- MKS Instruments
- Alicat Scientific
- Horiba
- Sierra Instruments
- Other key market players
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