Growing Water Infrastructure Backing-up The Growth Of Flow Meters Market
According to a new market research report published by Credence Research “Flow Meters Market (by Meter Type: Differential Pressure, Positive Displacement, Magnetic, Ultrasonic, Coriolis, Turbine, and Vortex; by End-use Industry: Water Infrastructure, Power Generation, Oil & Gas, Paper & Pulp, Food & Beverage, Chemical, and Other (Construction & Mining, Hydraulic Systems, etc.)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the flow meters market was valued US$ 6.71 Bn in 2017 and estimated to grow with a CAGR of 6.6% during the forecast period from 2018 to 2026.
The importance of fluids and the calculation of various fluid properties plays a vital role in the modern manufacturing and processing field in improving the overall process. Flow meter is one of the instruments used to measure the amount of fluid through the channels. In any industry dealing with liquids, the importance of flow meters is undeniable for ensuring accurate monitoring and achieving total flow control.
Flow meters are commonly used across a variety of end-users, including water infrastructure, power generation plants, oil and gas industries, manufacturing and refining industries, among others. Persistent growth in all of the above listed end-users is steadily increasing demand for flow meters and the market is expected to expand even further in the coming years.
A variety of flow meters are available to measure fluids with different properties. The introduction of advanced electronics and the development of non-contact flow meters have allowed high accuracy in fluid flow measurements with varying densities. Modern flow meters do not require thorough calibration and reduced maintenance costs eliminate significant downtime. All of these variables have allowed advanced flow meters to score an advantage over conventional mechanical flow meters.
As a key component across sectors, many international players have expanded their brand portfolio by developing state-of-the-art flow meters. Such companies face fierce competition between each other, along with local players, to retain their market dominance. With several well-established local and international players, the market offers limited opportunities for new entrants to expand. Nevertheless, existing players must remain on their toes in order to remain competitive in the international flow meter industry.
Few of the major notable players profiled in this research study ABB Ltd., Emerson Electric Co., Honeywell International, Inc., Siemens AG, Schneider Electric SE, Badger Meter, General Electric, KROHNE Messtechnik, Höntzsch GmbH, Yokogawa Electric Co., Hitachi ltd., and Endress+Hauser AG among others.
Key Analysis Covered:
- Consistent development in industrial automation and its effects on the development of flow metes
- Most prominent end-user and their growth assisting flow meters market to grow
- Different types of flow meters and their standing in terms of market value
- Demand of different flow meters depending upon the type of fluids to be handled
- Role of power generation and oil & gas sector playing in flow meters market and their effect on the sales of flow meters
- Significance of developing region such as Asia Pacific, Middle East & Africa and Latin America in overall flow meters market