(Food-Beverage-News.Com, July 12, 2019 ) The report "Flow Meters Market by Type (Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine, Vortex) and by Application (Water & Waste Water, Oil & Gas, Chemicals, Power Generation, Pulp & Paper, Metals & Mining, Food & Beverages) - Global Trends & Forecast to 2027", is projected to grow from USD 7.2 billion in 2018 to USD 12.7 billion by 2027.
The increased demand for higher accuracy, reliability, durability, and higher performance for measurement tools, increasing use in oil & gas and water & wastewater industries are some of the major factors that are driving the flow meter market in end-use industries. On the other hand, high initial cost of Coriolis and magnetic flow meters are restraining the growth of the market.
“Water & wastewater is the largest application segment for FLOW METER”
The water & wastewater segment accounts for the largest share of the flow meter market. Water is used in industrial, communal, and household applications. It is stored in tanks and supplied through tanks as per requirements. Without flow meter, the measurements and monitoring is not possible which has resulted in increased usage of flow meters. Moreover, water is an important constituent of various industrial operations such as in chemical, oil & gas, food & beverages, automotive, manufacturing industries including iron & steel. These industries need to monitor the flow rate and water usage in their respective process which involves use of flow meters. This has led to increased usage of flow meters in various sectors of the market.
“Coriolis flow meters are expected to witness highest growth”
Coriolis flow meters are expected to witness the fastest-growth in the flow meter market during the forecast period. Coriolis is highly preferred as it is highly accurate, reliable, easy to install, and cost of maintenance is also low. The increased demand is poised by usage in measuring the flow of sanitary, cryogenic, relatively clean, and corrosive liquids and gases/vapors in pipes. The lower sensitivity to density makes it suitable for various industrial applications where fluid’s physical properties are not known. The application industries of these type of flow meters include water & wastewater, pulp & paper, petroleum & petrochemical, power, chemical, mining, mineral processing, and other industries.
Browse in-depth TOC on "Flow Meters Market 77 - Market Data Tables 34 - Figures 159 - Pages
“Asia-Pacific is the biggest market for flow meter”
Asia-Pacific dominated the global flow meter market in 2018. The demand for flow meter in the Asia-Pacific region is mainly driven by the rising demand for high quality and reliable measurement tools from end-use industries, which in turn is increasing the demand for flow meter. Asia-Pacific is estimated to be the fastest-growing market for flow meter, in terms of value. This high growth is because of the increased demand from the oil & gas and water treatment applications in the region. Moreover, the growing industrial development, water recycling facilities, growing concern in industries to maintain accuracy in flow rate, volume, and quantity of chemicals, liquids, gases, and various fluids in their operations and processes is increasing the demand for flow meter in the region.
Honeywell (US), Siemens (Germany), Emerson Electric Co. (US), ABB Ltd. (Switzerland), Yokogawa Electric (Japan), Azbil (Japan), Badger Meter (US), Krohne Messtechnik (Germany), Schneider Electric (France), Endress Hauser (Switzerland) are the key players operatimg in the flow meters market.
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